[{"url": "https://technode.global/2024/02/02/aub-partners-alipay-to-enable-cross-border-payments-in-south-korea-malaysia-hong-kong/", "page": 1, "title": "AUB partners Alipay+ to enable cross border payments in South Korea, Malaysia, Hong Kong", "contents": "Asia United Bank (AUB)The duo said in a statement on Friday that after becoming the first Philippine bank to offer an e-wallet that can be used for cross-border payments, AUB is in a race to expand the coverage of its HelloMoney abroad. Through AUB\u2019s partnership with Alipay+, HelloMoney users can now make e-wallet payments in South Korea, Malaysia, and Hong Kong SAR, by simply scanning the QR code displayed in merchant stores in these countries. This makes cross-border payments using HelloMoney now possible in four markets, including Japan. It is noted that in South Korea, HelloMoney users can scan the ZeroPay QR, the country\u2019s public QR-code- based digital payment service available in over 1.7 million merchants nationwide. The country has been making its digital payment services more seamless for Asian tourists visiting South Korea by connecting local merchants with various mobile payment methods foreign tourists use. In Malaysia, HelloMoney users can scan DuitNow QR, the country\u2019s National QR Standard operated by PayNet, which is available in 1.8 million merchants in Malaysia. This allows\u201cWe will continue to bring HelloMoney closer to more users to make mobile banking easier and for more merchants to help their business grow and thrive in the post-pandemic world, \u201cWith Alipay+\u2019s global presence through its integration with local merchants worldwide, our HelloMoney users will have a wider reach in payment acceptance while ensuring a safe and secure digital transaction,\u201d said Wilfredo Rodriguez Jr. , AUB executive vice president and head of Operations and Information Technology. Launched by AUB in 2019 ahead of the COVID-19 pandemic, HelloMoney enables users to open an account without going to a physical branch and perform bank-to-bank fund transfers, buy prepaid load, remit money through PeraPadala, pay via QR code, settle bills, withdraw via ATM, and shop online using HelloMoney\u2019s very own virtual Mastercard. Members of state-owned Pag- IBIG Fund can also manage their account and perform banking transactions through the Pag-IBIG Loyalty Card Plus via HelloMoney. \u201cOver the years, AUB has been building a digital arsenal that include pioneering initiatives and innovations \u2014 from end-to-end digital account opening, to enabling clients to make banking easy through their mobile phone and merchants to sustain their businesses even with restricted mobility during the pandemic, \u201cWith Alipay+\u2019s global presence through its integration with local merchants worldwide, our HelloMoney users will have a wider reach in payment acceptance while ensuring a safe and secure digital transaction,\u201d added Rodriguez. It is noted that over a million HelloMoney users will also be able to take advantage of more competitive exchange rates compared to prevailing market rates. As of end-October 2023, the number of HelloMoney transactions has reached 30 million, a 65 percent increase compared with 19 million in the same period a year ago. The value of transactions reached PHP 115 billion ($2.06 billion), 82 percent higher than year-ago\u2019s PHP 63 billion ($1.13 billion). AUB was established at the height of the 1997 Asian financial crisis. The bank is known for its digital innovations, which started years prior to the COVID-19 global pandemic which spurred many of its competitors to embark on digital transformation. Among its digital innovations are e-wallet HelloMoney, pioneering payments via QR and the early adoption of the national QR PH code, and AUB PayMate, its all-in-one digital payment acceptance product. Alipay+ is a suite of cross-border digital payment, marketing and digitalization solutions that help connect global merchants to consumers. Alipay+ partners LankaPay to enhance digital travel experience to and from Sri Lanka"}, {"url": "https://technode.global/2024/01/31/malaysian-re-developer-ditrolic-energy-secures-investment-backing-from-blackrocks-climate-finance-partnership/", "page": 1, "title": "Malaysian RE developer Ditrolic Energy secures investment backing from BlackRock\u2019s Climate Finance Partnership", "contents": "Malaysian renewable energy (RE) developer Ditrolic Energy said in a statement on Wednesday that the duo have entered into an agreement in which CFP will back Ditrolic Energy\u2019s expansion to build commercial and industrial (C&I) and utility-scale solar assets throughout emerging markets in Asia Pacific. The partnership seeks to facilitate realization of Ditrolic Energy\u2019s targeted 1 GW+ pipeline of solar projects, increasing Ditrolic Energy\u2019s targeted total capacity to 5GW+ pipeline of solar projects in Malaysia, Bangladesh, Indonesia and the Philippines, as well as investment and expansion of its flagship 360\u00b0 Clean Energy Solution, EnerLoop, by enabling technology for Carbon Tracking, Battery Energy Storage System and Green Electricity Sales. With this new partnership, Ditrolic Energy intends to make Malaysia its investment hub to actively invest into key energy transition projects around its approved markets in the Asia Pacific region including Malaysia\u2019s National Energy Transition Roadmap (NETR) programe where Ditrolic Energy plans to mobilize significant amounts of capital private investment with the aim to accelerate and reduce the associated cost of energy transition for the country. \u201cWe are committed to playing a key role in Asia\u2019s energy transition. We are grateful for BlackRock\u2019s support, because the investment in Ditrolic Energy enables us to rapidly increase scale and maximize value to support transition to low carbon economies throughout multiple markets,\u201cWith the capital raised and private investment to be mobilized, Ditrolic Energy would be in a prime position to undertake key energy transition projects in Malaysia and other Southeast Asia countries,\u201d said Tham Chee Aun, Founder and Group Chief Executive Officer of Ditrolic Energy. Founded in 2009, Ditrolic Energy is one of the largest renewable energy developers in Malaysia and Southeast Asia and runs a fully-integrated value chain from project development, financing, engineering and construction through to operations and maintenance (O&M) and asset management. To date, Ditrolic Energy is operating, constructing more than 450MW of solar assets in Malaysia, other Southeast Asia countries, Bangladesh and China. With CFP\u2019s partnership, Ditrolic Energy takes position as one of the leading pure-play energy transition companies in the country. CFP is a unique partnership among BlackRock and the governments of France (AfD), Germany (KFW) and Japan (JBIC) through their respective development finance institutions, as well as leading US impact organizations. CFP brings together public, private and philanthropic sectors to mobilize significant blended capital into climate infrastructure, targeting investment in non-OECD countries\u201cDitrolic Energy holds a proven solar development track record in this diverse region, \u201cOur partnership presents an attractive opportunity to mobilize more capital into climate infrastructure in emerging markets and accelerate national ambitions to achieve net zero economies,\u201d said Valerie Speth, Asia Pacific (APAC) Co-Head of Climate Infrastructure, BlackRock. According to the statement, Asia Pacific accounts for 40 percent of the world\u2019s carbon emissions. Countries including Malaysia, Bangladesh, Indonesia and the Philippines have strong power market fundamentals and increasingly pro-renewable regulatory regimes. Thus, the partnership announced aims to bring about more development, as well as construction of greenfield renewables capacity to support growth in emerging markets. According to the statement, Malaysia\u2019s renewable energy generation goal stands at 31 percent by 2025 and 70 percent by 2050 under the new National Energy Transition Roadmap (NETR), with an intention to achieve net zero emissions by 2050. The nation\u2019s domestic oil and gas reserves are expected to be depleted by 2029, driving up importation of fossil fuels for power generation, while raising electricity tariffs. Meanwhile, Bangladesh is expected to reach 30 percent renewable generation capacity by 2030 and is pivoting towards gas, liquefied natural gas (LNG) and renewables, with the aim of generating an additional 2.7GW of renewable energy. This could contribute to about 10 percent of the new-build pipeline on a capacity basis. It is noted that Indonesia plans to achieve 23 percent of renewables in its electricity mix by 2025, and at least 31 percent by 2050, according to its Electric Supply Business Plan. It is also noted the Philippines is aiming for 3.6GW of capacity allocated to commercial operation in both 2024 and 2025, rising to 4.4GW in 2026. The partnership secured $673 million in commitments from a global consortium of investors including governments, philanthropies, and institutional investors in an oversubscribed final fundraise, exceeding the initial target of $500 million. BlackRock currently manages over $50 billion of infrastructure client asset under management (AUM) is comprised of infrastructure equity, debt and solutions, and has grown both organically and inorganically since inception in 2011. Malaysia\u2019s TNB partners Perak state government to drive large-scale renewable energy initiatives"}, {"url": "https://technode.global/2024/01/26/maxis-and-public-bank-collaborate-to-further-accelerate-digital-adoption-among-malaysian-smes/", "page": 1, "title": "Maxis and Public Bank collaborate to further accelerate digital adoption among Malaysian SMEs", "contents": "Malaysian telecommunication firm The duo said in a statement on Friday that through the collaboration, which was formalized during a Memorandum of Understanding (MoU) exchange ceremony, both companies will embark on a joint awareness program to promote digitalization among SMEs. This will also pave the way for SMEs to access digital solutions, together with the financial assistance to implement them, according to the statement. Public Bank\u2019s Managing Director and Chief Executive Officer Tay Ah Lek said the collaboration will see Malaysian SMEs getting the best from both the finance and technology areas. \u201cWe believe that by combining our financial expertise with Maxis\u2019 technological prowess, we can make a meaningful impact on the digital transformation of Malaysian SMEs, enabling them to thrive and contribute to the nation\u2019s economic growth, \u201cTogether, Public Bank and Maxis are dedicated to supporting business on their path to success, leveraging the best of banking and technology,\u201d he added. Meanwhile, Maxis Chief Executive Officer Goh Seow Eng said they are pleased to have a like-minded partner in Public Bank that shares their commitment to support SMEs. \u201cAs an integrated telco, Maxis Business is the trusted partner for enterprises of all sizes. We want to make it easy for SMEs to digitalize, so they can focus on growing their business, \u201cThrough this collaboration, we look forward to together drive the nation\u2019s SME digital transformation,\u201d he added. For maximum impact of the collaboration, both parties will explore ways to jointly engage their respective customers through on-ground and online activities. These may include activities such as awareness talks across Public Bank\u2019s branch network. Meanwhile, Maxis Business will come on board as the official telco and digital partner of Public Bank\u2019s PB enterprise Digital SME Assist Program. This will enable Public Bank\u2019s SME customers to access Maxis\u2019 range of connectivity and digital solutions to meet their diverse business needs, such as mobile and fixed connectivity, payments, e-commerce, cloud and cybersecurity. Maxis Business will also assist Public Bank\u2019s SME customers to apply for the Geran Digital PMKS Madani digitalization grant scheme by the Malaysian Government to implement the solutions. SMEs that require further financial support may also explore the range of financing solutions offered by Public Bank. Maxis is Malaysia\u2019s integrated telco, providing high quality digital services and connectivity solutions. As a homegrown Malaysian brand, the firm has been serving Malaysians for over 28 years. Maxis is a public listed company on Bursa Malaysia, with shares owned by over 5,400 institutional shareholders that include more than 23 percent government related institutional investors as of September 2023. Founded in 1966, Public Bank is a bank specializing in a comprehensive range of financial services, including retail and corporate banking, investment banking, and Islamic banking. MYStartup partners Maxis, Petronas, Cyberview and airasia academy to support Malaysian startups"}, {"url": "https://technode.global/2024/01/26/malaysias-khazanah-in-talks-to-lead-softbank-backed-oyo-hotels-400m-fund-raise-report/", "page": 1, "title": "Malaysia\u2019s Khazanah in talks to lead Softbank-backed OYO Hotel\u2019s $400M fund raise \u2013 report", "contents": "Malaysia sovereign wealth fund Khazanah Nasional Bhd is said to be in discussions to lead a $400 million funding round in The Indian hotel-booking firm backed by Softbank Group, is seeking to raise funds for expansion and cutting debt, the people reportedly said. According to the report, Avendus Capital Pvt. is advising the company on the fund raise. Founded by Ritesh Agarwal, Oyo filed for an initial public offering for the second time in March, after slashing the target amount to be raised by about two-thirds, Talks are still ongoing and Khazanah can still decide to not invest, said the people. Oyo is also holding talks with other investors for the fund raise, they said. Oyo reported 13 billion rupees ($156 million) net loss in the twelve month ending March 2023, according to Representatives for Khazanah and Oyo didn\u2019t respond to Bloomberg\u2019s emails seeking comments. A spokesperson for Avendus declined to comment. Khazanah has been ramping up investments in India with banking companies including logistics provider Xpressbees and fast food chain Wow! Momos. Oyo said it is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aims to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. Oyo offers 40+ integrated products and solutions to patrons who operate over 157,000 hotel and home storefronts in more than 35 countries including India, Europe, and Southeast Asia, according to its Linkedin Page. The company said it operates a unique business model that helps its patrons transform fragmented, unbranded and underutilized hospitality assets into branded, digitally-enabled storefronts with higher revenue generation potential and provides its customers with access to a broad range of high-quality storefronts at compelling price points. Travel tech firms await \u2018revenge traveling\u2019 as Malaysia reopens, but concerns remain"}, {"url": "https://technode.global/2024/01/26/malaysias-epf-confirms-ahmad-zulqarnain-onns-appointment-as-ceo/", "page": 1, "title": "Malaysia\u2019s EPF confirms Ahmad Zulqarnain Onn\u2019s appointment as CEO", "contents": "The Board of the Previously helming Permodalan Nasional Bhd (PNB) as President and Group Chief Executive, Zulqarnain succeeds Amir Hamzah Azizan, who was appointed as the Minister of Finance II in Malaysia, after leading the fund since March 1, 2021, EPF said in a statement on Friday. According to the statement, Zulqarnain brings with him strong corporate background, having served as the Chief Executive Officer of Danajamin Nasional Berhad, the Deputy Managing Director of Khazanah Nasional Berhad, and the President and Group Chief Executive of Permodalan Nasional Berhad (PNB) before joining the EPF. He has a Bachelor\u2019s Degree in Economics from Harvard University. \u201cThe EPF Board extends their heartfelt gratitude to Datuk Seri Amir Hamzah for his exemplary service to the EPF and significant contributions and achievements, which have positioned the EPF for continued success,\u201d EPF Chairman Ahmad Badri Mohd Zahir said. \u201cAt the same time, we would like to welcome and congratulate Encik Ahmad Zulqarnain on his appointment as the new EPF Chief Executive Officer, \u201cWith his extensive corporate experience, we are looking forward to his dynamic and focused leadership to drive the EPF to greater heights,\u201d he said. He added that the entire EPF team is committed to ensuring a seamless transition and looks forward to Zulqarnain\u2019s leadership and strategic direction in fulfilling EPF\u2019s mission to safeguard the retirement future and wellbeing of EPF\u2019s 15.9 million members. The EPF is Malaysia\u2019s retirement savings fund helping its members achieve adequate savings for a comfortable retirement. The fund\u2019s vision to help members achieve a better future and its mission to safeguard members\u2019 savings and deliver excellent services. The EPF has evolved significantly from a transaction-centric to a professional fund management organization with a strong focus on retirement security. The EPF is guided by a robust and professional governance framework when making investment decisions. It continues to play a catalytic role in the nation\u2019s economic growth and seeks to cultivate a savings and investment culture among its members to improve the country\u2019s financial literacy level. Malaysia to appoint PNB chief to lead country\u2019s largest pension fund EPF \u2013 Reuters"}, {"url": "https://technode.global/2024/01/26/malaysia-inks-deal-with-uae-to-build-data-centers-in-malaysia/", "page": 1, "title": "Malaysia inks deal with UAE to build data centers in Malaysia", "contents": "Malaysia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) on Thursday,  marking a strategic partnership on the development of data centers in Malaysia, with potential projects anticipated to achieve a total capacity of 500 megawatts. The According to the statement, the MoU represents a strong commitment towards robust collaboration on the exchange of knowledge and expertise in the digital infrastructure sector between Malaysia and the UAE, which is also aimed at fostering greater bilateral economic and investment relationships between the public and private sectors of both countries. It is noted that Malaysia has emerged as a preferred destination for data centers in the Southeast Asia region, thanks to its robust digital and physical infrastructure, rule of law, as well as compelling government-backed measures and initiatives on data center investment. The increasing demand from regional small and medium-sized enterprises (SMEs) will provide the impetus for Malaysia\u2019s growing status as a significant regional player in digital economy. Beyond data centre development, the MoU also illustrates Malaysia\u2019s commitment to advancing artificial intelligence (AI), in alignment with the New Industrial Master Plan\u201cMalaysia\u2019s digital infrastructure collaboration with the UAE, with a focus on data centers, will certainly help strengthen our position as a preferred destination for digital investments, \u201d said Tengku Zafrul Aziz, Minister of MITI. \u201cBy being a regional data center hub, Malaysia is well-positioned to capture a significant portion of ASEAN\u2019s digital economy, forecast to reach $1 trillion by 2030, \u201cMITI and its agencies are determined to speed up the implementation of all committed investments so that investors, businesses and our people can quickly reap the benefits of a more robust, thriving digital economy withinMeanwhile, Mohamed Hassan Alsuwaidi, Minister of Investment, the UAE, said this collaboration not only enhances the existing bilateral ties between his nations but also seeks to harness Malaysia\u2019s extensive potential as a top choice for data center locations in the Asia-Pacific region. \u201cBeing an emerging data hub in Southeast Asia, the arrangement aims to reinforce the nation\u2019s digital infrastructure and accelerate the expansion of its internet economy, aligning with shared priorities and interests,\u201d he added. According to the statement, the MoU stands as a testament to the strong trade relations between Malaysia and the UAE, with significant growth in non-oil trade volume. Currently, the UAE is Malaysia\u2019s second-largest trading partner in the Middle East, and Malaysia is a key player in UAE\u2019s exports and re-exports in the ASEAN region. Abu Dhabi\u2019s Masdar to invest $8B in renewable energy projects in Malaysia"}, {"url": "https://technode.global/2024/01/26/malaysias-tnb-partners-chinas-state-owned-utilities-to-shake-up-asean-power-grid-with-hvdc-technology/", "page": 1, "title": "Malaysia\u2019s TNB partners China\u2019s state-owned utilities to shake up ASEAN power grid with HVDC technology", "contents": "Malaysian utility firm TNB said in a statement on Thursday that this strategic move underscores its commitment as a regional energy leader dedicated to advancing sustainable energy solutions.  TNB President and Chief Executive Officer Ir. Baharin Din has unveiled the ambitious initiative, emphasizing the pivotal role of HVDC technology in fostering efficient power trading, seamless resource sharing, and the integration of renewable energy (RE) sources among ASEAN nations.    \u201cTNB is at the forefront of pioneering sustainable energy initiatives in the ASEAN region, \u201cOur exploration of HVDC technology is a testament to our unwavering commitment to innovation and sustainability,\u201d he said.  According to him, interconnection using HVDC technology will benefit power trading, resource sharing and RE integration between neighboring ASEAN countries. He said the firm is looking at potentially collaborating with China\u2019s state-owned power utilities. \u201cThe potential partnership with China\u2019s state-owned utilities on HVDC projects is strategically designed to capitalize on their expertise and experience in developing complex HVDC projects in China and globally, \u201cThis signifies a milestone in our growth and a testament to our dedication to pushing the boundaries of sustainability and technological innovation,\u201d he added.  As a staunch advocate of the APG, TNB said the firm is taking a comprehensive approach to its responsible Energy Transition (ET) journey, recognizing the pivotal role of regional interconnections. Baharin reaffirmed TNB\u2019s commitment to the APG by revealing that the company has inked five memoranda of inderstanding with neighboring countries, focusing on interconnection and renewable energy generation.  Furthermore, Baharin stressed that the burgeoning energy demand from data centers, coupled with TNB\u2019s Grid of the Future (GoTF) efforts, serves as a driving force behind the APG\u2019s revolution. It is noted that Malaysia is emerging as a focal point for data center investments in the region, underpinned by increasingly favorable RE policies under the National Energy Transition Roadmap (NETR).  Highlighting TNB\u2019s recent milestones, Baharin disclosed the completion of six data center projects, totalling approximately 292 megawatts (MW) of demand, with two projects commissioned ahead of schedule. He emphasized the strong interest in electricity demand, foreseeing a potential equivalent of over 7,000MW by 2035, solidifying the necessity for TNB\u2019s regulated GoTF investments.  Baharin stressed the importance of a flexible grid capable of swiftly accommodating extensive solar installations and facilitating rapid connections within distributed solar networks and energy resources to meet escalating demand. \u201cOur focus lies in delivering NETR project, complementing ET, and prioritizing green, reliable, and affordable power solutions that empower our customers while ensuring national supply security,\u201d he added.  According to the statement, TNB\u2019s vision extends beyond providing sustainable energy solutions; it encompasses a commitment to the community, stakeholders, and a sustainable future for generations to come. TNB is a Malaysian utility company in Asia with an international presence in the United Kingdom (UK), Australia, Turkiye, Saudi Arabia, Kuwait, Pakistan and Cambodia. Within the RE, as of December 2023, TNB has a total gross portfolio of 3,119MW in Peninsular Malaysia (including 2,536.1MW of large hydro) and 908MW across the United Kingdom, Australia, and Turkiye comprising mainly solar, wind, and hydro energy generation assets. In addition to being the nation\u2019s primary electricity generation enterprise, TNB also transmits and distributes all the electricity in Peninsular Malaysia, Sabah, and the Federal Territory of Labuan. As of 31 December 2023, TNB supplies electricity to approximately 10.9 million customers.   It is noted that HVDC uses direct current (DC) for electric power transmission, in contrast with the more common alternating current (AC) transmission systems. HVDC lines are commonly used for long-distance power transmission, since they require less conductor and incur fewer power losses than equivalent AC lines. China currently has the longest HVDC link in the world, spanning 1,100 kilovolts (kV) over a distance of 3,300 km with a power capacity of 12 GW. Malaysia\u2019s TNB partners Sime Darby to accelerate sustainable township development in Malaysia"}, {"url": "https://technode.global/2024/01/26/tenaka-partners-orange-business-to-scale-coral-reef-restoration-program-in-malaysia/", "page": 1, "title": "T\u0113naka partners Orange Business to scale coral reef restoration program in Malaysia", "contents": "France\u2019s information technology firm Orange said in a statement on Wednesday that T\u0113naka\u2019s coral reef restoration helps protect and preserve critically important and endangered wildlife while supporting the economic independence of coastal communities in terms of food security and employment linked to tourism and fisheries. Through this partnership, Orange Business is accelerating T\u0113naka\u2019s digital transformation, making its day-to-day operations more efficient. Orange Business provides access to fully automated data sets, from collection to visualization, leveraging artificial intelligence (AI)-based data analysis. This near real-time data-driven approach enhances the capabilities of T\u0113naka\u2019s operations. According to the statement, data and images are delivered directly to scientists ashore, which means researchers will be able to access 24/7 data and spend more time restoring degrading coral reefs. The project orchestrated by Orange Business is enabled by a Yucca lab marine research station composed of an underwater monitoring device with waterproof 360\u00b0 camerasThe research station connects to the local 4G mobile network with an Orange Business SIM card. This connection transfers images daily to a Microsoft Azure tenant managed by Orange Business. The data transfer is secured by Orange Cyberdefense using Netskope SSE technology and NewEdge infrastructure. Once in the cloud, an AI algorithm developed by Orange Business analyzes the images. This algorithm automatically recognizes and quantifies various species of fish, invertebrates, and megafauna in the reefs. Orange Business leverages its partner ecosystem in this project: Netskope\u2019s For Good program is providing the security platform and design, while Microsoft provides free of charge Azure credits as part of its Startups Founders Hub program. \u201cRegenerating the ocean is the best solution we have to mitigate the climate and biodiversity crisis, \u201cBy leveraging technology, Orange Business brings critical expertise for us to scale our operations and reach a global impact,\u201d explained Anne-Sophie Roux, Founder of T\u0113naka. Meanwhile, Kristof Symons, Chief Executive Officer International, Orange Business, said the firm wanted to be part of the solution for an environmental challenge. \u201cOur employees worldwide support T\u0113naka for its inspiring initiative in preserving and rehabilitating coralOrange Business, the enterprise division of Orange, is a network and digital integrator. Orange Business has 30,000 employees across 65 countries. Its services are used by more than 3,000 multinational enterprises, as well as two million professionals, companies and local communities in France. Orange is one of the world\u2019s leading telecommunications operators with sales of 43.5 billion euros ($47.13 billion) in 2022 and 296 million customers worldwide at 30 September 2023. Orange is listed on the Euronext Paris (ORA) and on the New York Stock Exchange (ORAN). WWF, BCG, and Think City launch regional initiative for nature-based solutions, climate analytics and AI"}, {"url": "https://technode.global/2024/01/26/malaysia-to-appoint-pnb-chief-to-lead-countrys-largest-pension-fund-epf-reuters/", "page": 1, "title": "Malaysia to appoint PNB chief to lead country\u2019s largest pension fund EPF \u2013 Reuters", "contents": "Malaysia is expected to name Ahmad Zulqarnain Onn, group Chief Executive Officer of the country\u2019s largest asset manager Permodalan Nasional Berhad (PNB), as the head of its biggest state pension fund, The appointment will fill the role left vacant after Prime Minister Anwar Ibrahim in December named Amir Hamzah Azizan, the previous CEO of the Employees Provident Fund (EPF), as second finance minister in a cabinet reshuffle, according to Ahmad Zulqarnain\u2019s appointment is expected to be announced as early as at the end of January, two of the sources said. The sources spoke on condition of anonymity as they were not authorised to speak with the media, according to the exclusive report. In an emailed response to a Meanwhile, the prime minister\u2019s office and PNB did not immediately respond to requests for comment. Ahmad Zulqarnain was appointed in July 2020 to head PNB, which managed 343.1 billion ringgit ($72.55 billion) of assets as at Nov. 30, 2022, according to its website. Prior to joining PNB, Ahmad Zulqarnain was previously Deputy Managing Director at Malaysia\u2019s sovereign wealth fund Khazanah Nasional Bhd. According to Established in 1951, EPF is the 12th largest pension fund in the world with 15.72 million members and total assets of about 1 trillion ringgit, according to its 2022 annual report. EPF\u2019s investments in the Malaysian public equities market include the country\u2019s largest bank Malayan Banking,  and electricity utility Tenaga Nasional, according to LSEG data. EPF also invests in the private markets including real estate and private equity. According to its website, EPF invests in a number of approved financial instruments which include Malaysian Government Securities and Equivalent; equities; loans and  bonds; money market instruments; and real estate and infrastructure. It is worth noting that in September last yearLimited partners (LPs) across its early-stage and growth investment vehicles include Malaysia\u2019s sovereign wealth fund, public and private pension funds like Khazanah Nasional Bhd, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and EPF. Together with PNB and KWAP, EPF also co-invested in high-tech industrial asset Kulim II for $420 million, according to500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs"}, {"url": "https://technode.global/2024/01/24/airasia-moves-monthly-active-users-surge-48-percent-on-year-in-4q2023/", "page": 1, "title": "Airasia MOVE\u2019s monthly active users surge 48 percent on year in 4Q2023", "contents": "Malaysia-based Capital A said in a statement on Wednesday that the app maintained an average of 15 million MAU throughout the year 2023, a 42 percent year on year surge. In tandem with the increased users, it said airasia MOVE achieved a new record for number of transactions, totaling 9.2 million in the fourth quarter of 2023. This contributed to a cumulative 32.5 million transactions for the entire year, reflecting a 75 percent growth compared to the previous year. Airasia MOVE gross booking value (GBV) also showcased substantial progress across all business segments, exhibiting a commendable 90 percent year on year growth. Its travel GBV improved 110 percent year on year against FY2022, driven by the increase in flight bookings fueled by strong recovery in travel demand. Its ride-hailing annual GBV grew by 54 percent year on year, bringing the total number of rides completed in FY2023 to 5.4 million. Klang Valley continues to be the primary location for utilizing rides services. Its airasia rewards and other businesses also posted GBV growth of 42 percent year on year for FY2023, as travellers are back active in earning and utilizing points across the ecosystem. Meanwhile, BigPay saw an uptick in the annual carded users, recording 14 percent increase year on year to nearly 1.5 million and gross transaction value (GTV) growth of 28 percent year on year against FY2022. Its payment grew 6 percent annually, of which closed-loop payment saw a 60 percent growth year on year owing to the close collaboration with airasia MOVE. Its remittance grew by 86 percent year on year in FY2023, driven by a 146 percent and 21 percent year on year increase in domestic and international transactions during the year with transaction sizes trending up. As for its lending, the loan disbursement grew by 159 percent year on year, owing to the utilization of alternative data in credit scoring methodology to identify low risk segments within its loan application pool. Its marketplace overall GTV recorded a 27 percent year on year growth in FY2023, attributed to the continued strong take-up rate of mobile prepaid top-up transactions. Meanwhile, Capital A\u2019s logistics unit Teleport delivered a strong performance across its core operational metrics in both the quarterly and full-year results. For its cargo segment, the fourth quarter saw 60,565 tons delivered, up 94 percent year on year while the total tonnage moved for the year reached nearly 200,000, reflecting 88 percent growth compared to the previous year. Throughout the year, the utilization rate saw an uptick of 2 percentage points to 14 percent (versus 12 percent in FY2022). This is due to the significantly expanded capacity during the year resulting from the return of international flights, the induction of Teleport\u2019s first two dedicated A321F freighter aircraft, as well as Teleport\u2019s continued effort in forging close strategic third party airline partnerships. AS for its delivery segment, the segment recorded the highest number of parcels delivered in the fourth quarter of 2023, reaching 12 million parcels, an increase of 279 percent year on year. Its daily parcel deliveries also surpassed 130,000 for the first time in the fourth quarter of 2023. This was supported by increased volume by new customers during the festive season. Cumulatively, the segment delivered 29.9 million parcels in 2023, demonstrating a 275 percent year on year growth. Capital A\u2019s airasia MOVE quarterly revenue up 68 percent on year to $36.59 million"}, {"url": "https://technode.global/2024/01/24/malaysian-stock-exchange-partners-ssm-to-launch-platform-to-facilitate-smes-fundraising/", "page": 2, "title": "Malaysian stock exchange partners SSM to launch platform to facilitate SMEs fundraising", "contents": "Bursa Malaysia BerhadBursa Malaysia said in a statement that the SME X Platform ensues from the memorandum of understanding signed between Bursa Malaysia and SSM at end 2022, which among others was to enhance data analytics for strategic business decisions in line with the National Data Sharing Policy (NDSP). According to the statement, the SME X Platform is designed to facilitate fundraising to support small and medium enterprises (SMEs) in their growth and business expansion, by connecting them with capital providers such as private equity firms, venture capitalists or other financial institutions seeking to invest in companies with good financial standing and growth potential.  \u201cAs a multi-asset exchange, we are constantly looking at innovations to grow the market, and better serve stakeholders needs, by employing data and technology,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. According to him, the launch of the SME X Platform supports a key imperative of the exchange to help companies raise funds for growth expansion. \u201cWith the platform, we are helping to narrow the gap between quality companies with the need to raise funds, and parties with capital to deploy in the form of equity through initial public offerings (IPOs), debt fundraising through BR Capital, as well as private entities, venture capitals, and other financial institutions,\u201d he added. Meanwhile, SSM Chief Executive Officer Nor Azimah Abdul Aziz said that in facilitating the seamless integration of data within this platform, SSM has contributed the Corporate Business Information Data (CBID) consisting of over 650,000 company data, comprising key statutory information on companies, which includes financial data from about 200,000 companies that recorded high revenue over the past three years. \u201cThe data contribution from SSM, combined with data from Bursa Malaysia constitutes a significant step towards fostering a robust data ecosystem of companies, enriching capabilities within the Platform and ensuring the provision of current and valuable insights for informed decision-making,\u201d she added.   Wong Chiun Chiek, Director of Bursa Intelligence, said that as part of their data acquisition plans, at Bursa Malaysia, they now have rich and varied datasets from their various collaborations. \u201cOur repository of data spans the capital market, fund flows, private entities (in collaboration with SSM), macroeconomic insights (in collaboration with Department of Statistics Malaysia (DOSM)), and our Centralized Sustainability Intelligence (CSI) platform that consolidates environmental, social, and governance (ESG)-related data, all hosted under our newly deployed enterprise data platform,\u201cWe are always open to more strategic collaborations with partners to bring further innovation to support our stakeholders and develop our markets,\u201d he added.   According to the statement, SME X is an online platform that enhances decision-making for financial institutions and investment entities by offering a blend of Bursa Malaysia market data and data from SSM, comprising sectorial performance, evaluation of key financials, indicators of companies with the potential to list, and makes comparison of companies within the same sector. In addition, the platform includes detailed insights on companies\u2019 directors and management, shareholding structure and key financials to provide context and a deeper understanding on the financial standing of each company, as well as its subsidiaries and affiliated companies with common shareholders.      Bursa Malaysia is Malaysian stock exchange founded in 1976 and listed in 2005. It has grown to be one of the largest bourses in ASEAN. Bursa Malaysia operates and regulates a multi-asset exchange, offering a comprehensive range of investment, capital raising, and exchange-related facilities. SSM is a statutory body formed as a result of a merger between the Registrar of Companies (ROC) and the Registrar of Businesses (ROB) in Malaysia which regulates companies and businesses. SSM came into operation on 16 April 2002. Its main activity is to serve as an agency to incorporate companies, register businesses and limited liability partnerships as well as to provide company and business information to the public. Bursa Malaysia partners RAM Holdings to launch new debt fundraising platform"}, {"url": "https://technode.global/2024/01/23/hsbc-malaysia-to-benefit-from-the-green-shoots-of-recovery-from-global-electronic-cycle/", "page": 2, "title": "HSBC: Malaysia to benefit from the green shoots of recovery from global electronic cycle", "contents": "Malaysia\u2019s economy is expected to benefit from the green shoots of recovery this year powered by resilient consumer and investment spending, according to HSBC. \u201cMalaysia\u2019s economy should remain healthy this year powered by resilient consumer and investment spending. The positive fillip for Malaysia\u2019s economy will come from the nascent recovery of the global electronic cycle and the resumption of global tourism travel,\u201d James Cheo, Chief Investment Officer, Southeast Asia and India, Global Private Banking and Wealth, HSBC said. \u201cWe expect Malaysia\u2019s economy to grow by 4.5 percent GDP growth in 2024, slightly faster than last year\u2019s growth,\u201d he said in a statement on Monday. \u201cOn Malaysia equity market, the consensus earnings for Malaysia are expected to be healthy. The valuation of the equity market is trading below its historical average. Global risk sentiment and international investor positioning could be headwinds for the market. At this juncture, we want to be prudent and very selective with our Malaysia equity strategy. \u201d\u201cInflation should continue to remain subdued in Malaysia in 2024. However, there could be inflationary impact from the increase in service tax and reduction in fuel subsidies. We think that Bank Negara Malaysia will continue to remain on hold and keep policy rates at 3 percent for the rest of this year. We forecast the MYR to stay stable at 4.55 against the USD by the end of 2024,\u201d said Cheo, who attended the HSBC Investment Outlook Media Briefing. In terms of the outlook for investments, HSBC Global Private Banking expects the beginning of Fed rate cuts in June 2024, US soft landing, corporate earnings recovery, and solid Asia growth to improve global risk appetite and investment outlook of equity and bond markets in 2024. Malaysia expected to see upward trajectory in terms of liquid assets heldLinda Yip, Country Head of Wealth and Personal Banking, HSBC Malaysia said that Malaysia is expected to continue to see an upward trajectory in terms of liquid assets held. \u201cMalaysia\u2019s onshore wealth pool is sizeable at $359 billion in 2022, and this is expected to grow at a compound annual growth rate (CAGR) of 3.7 percent over the next few years. \u201cWe believe that the right ingredients are in place for this to materialize. From a regional perspective, the growth in private wealth in Asia, resilient spending amongst the middle class, the acceleration of digital transformation, and the green economy are a boon for economic growth, despite headwinds seen in the global economy. \u201cFrom a domestic standpoint, the Malaysian economy is expected to see growth this year. This will be supported by an expansion in consumption and investment spending and a favourable labour market, all which are conducive for unlocking investment opportunities,\u201d said Yip. HSBC provides $1B financing to support early-stage climate tech companies"}, {"url": "https://technode.global/2024/01/23/mavcap-invests-in-vynn-capitals-mobility-and-supply-chain-fund/", "page": 2, "title": "MAVCAP invests in  Vynn Capital\u2019s Mobility and Supply Chain Fund", "contents": "Malaysia Venture Capital Management Bhd (MAVCAP)This collaboration underscores MAVCAP\u2019s dedication to advancing technological frontiers in Malaysia and Southeast Asia, the companies said in a joint statement on Tuesday. According to the statement, MAVCAP\u2019s decision to participate as an investor in Vynn Capital\u2019s Mobility and Supply Chain Fund reflects its continuous commitment to back local fund managers to nurture pioneering startups in propelling technological advancements in Malaysia and across the region. It is noted that the Mobility and Supply Chain Fund is one of the few industry focused funds in the region with a targeted fund size of $30 million. It aims to revolutionize Southeast Asia\u2019s technology landscape by fostering innovation in mobility and supply chain solutions. Vynn Capital, a Malaysian-homegrown venture capital firm, created this innovative fund to address the emerging challenges and opportunities in the region\u2019s mobility andThe fund will invest in Southeast Asia focused early-stage startups that are raising Seed to Series A rounds. \u201cMAVCAP is thrilled to join forces with Vynn Capital in supporting the Mobility and Supply Chain Fund, \u201cThis collaboration aligns with our mission to catalyze innovation and growth in Malaysia and across Southeast Asia,\u201d said Shahril Anas bin Hasan Aziz, Chief ExecutiveIt is noted that with experienced partners backing the fund, startups will be able to gain access to essential resources and expertise to drive groundbreaking solutions for the future of vehicle and transport infrastructure. According to the statement, the Mobility and Supply Chain Fund will also seek to address the current challenges of creating a more sustainable and greener environment by applying technological solutions. The duo opined that this would make Malaysia, a frontrunner in creating an ecosystem that encourages further innovation in the mobility industry.  This also aims to foster increased regional collaboration by investing in companies that are strategically targeting the broader Southeast Asia market, they said. \u201cAs one of the most experienced venture backers in the region, MAVCAP will continue to provide us access to institutional networks, allowing us to provide better support to our portfolio companies,\u201cThis is especially important in the world of constantly changing market dynamics,\u201d said Tunku Ali Redhauddin ibni Tuanku Muhriz, Partner at Vynn Capital. Additionally, the fund received support from Sime Darby Berhad, enabling more private partnerships and industry players to invest into technology companies which willEstablished in 2001, MAVCAP has a portfolio value of almost MYR 5 billion ($1.06 billion) in the funds that the firm and its private sector partners manage. As a government-backed venture capital under the purview of the Ministry of Finance and Ministry of Science, Technology and Innovation, MAVCAP has been championing the government\u2019s mandate by developing local venture capital talent, creating local venture capital companies and attracting foreign venture capitals and funding into Malaysia. Vynn Capital is an industry focused early-stage venture capital firm founded with the objective of bridging the gap between traditional industries and the new economies through the development of technology. The firm\u2019s investment philosophy revolves around the creation of synergistic value between portfolio companies and companies within the firm\u2019s ecosystem, such as Marubeni, Sime Darby Berhad and others. Beyond investing, Vynn Capital assists its investors or limited partners in understanding new industries and markets with its localized team and network across the major cities of Southeast Asia. Gobi Partners and MAVCAP works with Paywatch to address  demand for earned wage access"}, {"url": "https://technode.global/2024/01/23/ni-hsin-inks-deal-with-myus-to-market-and-distribute-ebixon-motorcycles-in-perlis/", "page": 2, "title": "Ni Hsin inks deal with MYUS to market and distribute EBIXON motorcycles in Perlis", "contents": "Ni Hsin EV Mobility Sdn. Bhd. (NHEVM), a wholly-owned subsidiary of Ni Hsin EV Tech Sdn. Bhd. which in turn, a wholly owned subsidiary of Malaysia-listed Ni Hsin said in a statement on Tuesday that as the master dealer, MYUS will not just be promoting the sale of EBIXON motorcycles but also the rental of EBIXON motorcycles. The rental operations will be based at the Kuala Perlis Jetty where there is a constant stream of visitors and tourists coming in and out from Langkawi. It is noted that in conjunction with Visit Perlis 2024-2025, the opening of this electric vehicle (EV) motorcycle rental shop will promote and facilitate visitors and tourists to explore and enjoy the beauty of Kuala Perlis and its surroundings. \u201cIn line with the recognition of Perlis as a responsible geopark, the promotion of EBIXON motorcycles also helps to support the vision and mission to improve the geopark\u2019s achievements, \u201cThis will encourage more locals in Perlis and tourists to use EV motorcycles as a green alternative means of transport in the state of Perlis and Langkawi,\u201d said Khoo Chee Kong, Managing Director of NHEVM. Malaysia\u2019s Ni Hsin inks deal with USM, FOCUS and TAILG to promote electric mobility"}, {"url": "https://technode.global/2024/01/23/chery-malaysia-partners-carsome-for-vehicle-trade-ins/", "page": 2, "title": "Chery Malaysia partners Carsome for vehicle trade-ins and training", "contents": "AutomakerChery Malaysia said in its recent statement that the firm has signed two memorandum of understanding (MoU) with Carsome and Carsome Academy. The primary focus of these partnerships is to improve vehicle trade-ins and enhance soft skills within the brand\u2019s network of representatives. Upon opting for a trade-in, customers can have Carsome conduct a vehicle inspection at their preferred location. Following the inspection, Carsome will promptly offer a price for the trade-in vehicle. Once the offer is accepted, customers can then hand over their old vehicle before or while collecting their new Chery vehicle. Chery Malaysia said that this strategic collaboration is poised to redefine the automotive landscape, offering customers unparalleled transparency, convenience, and value in their car ownership journey. Meanwhile, the second MoU aims to bolster soft skills within Chery\u2019s network of representatives. The agreement will center on four aspects: upskilling Chery\u2019s existing and new workforce through specialized training programs; extending the Peneraju Skil motor vehicle inspection program to enhance the skills and knowledge of Chery\u2019s workforce; providing on-the-job (OTJ) training and work placements at Chery for Carsome Academy students under the Sistem Latihan Dual Nasional (SLDN) model; engaging in mutually agreed marketing initiatives to foster collaboration and growth. Chery Auto Malaysia Vice President Lee Wen Hsiang said both collaborations were timely for Chery Malaysia\u2019s growing customer base over the months since the brand debut in July last year. \u201cThe collaboration with Carsome will be beneficial and important for our dealers, especially with the increase in customers who seek to trade in their old cars for a new Chery vehicle,\u201d he said. Additionally, with plans to expand showrooms to 48 outlets by the end of 2024, Chery Malaysia opined that there will be an increase in the workforce, including sales representatives and managers. Therefore, ensuring the importance of Chery\u2019s customer service becomes a crucial step for the brand\u2019s future success, it said. \u201cAt Carsome, we aim to collaborate with more automotive manufacturers as part of our commitment to offering trust, transparency, and choice to customers, enhancing the car\u201dOur collaboration with Chery is a step forward in that direction; it represents a milestone in expanding our network and touchpoints, furthering our mission to provide the best car ownership experience,\u201cOur partnership with Chery enables us to offer customers upfront information on their car\u2019s trade-in value, facilitating a smoother transition to a new Chery vehicle,\u201d he added. Carsome appoints Miguel Fernandez as CFO"}, {"url": "https://technode.global/2024/01/22/zetrix-partners-web3labs-and-summer-capital-to-accelerate-hong-kongs-web3-roadmap-initiatives/", "page": 2, "title": "Zetrix partners Web3Labs and Summer Capital to accelerate Hong Kong\u2019s Web3 roadmap initiatives", "contents": "ZetrixZetrix said in a statement that it expands its current mission of government and enterprise-focused Web3 development in alignment with Hong Kong\u2019s Fintech Promotion Roadmap, in addition to significant partnerships announced with key stakeholders in China, Malaysia and the Philippines. Leveraging on the partners\u2019 complementary strengths, it said this partnership will enhance Zetrix as the preferred Layer-1 platform for blockchain applications aligned with the Hong Kong\u2019s government\u2019s Web3 vision and catalyzed by further collaborations with industry and business communities. The partnership also catalyze Hong Kong\u2019s and the region\u2019s financial systems and technologically forward corporate players to realize structured and concurrent industry trails of innovative blockchain use cases such as Real World Asset (RWA), stablecoin issuance and financial instruments tokenization to enable localized and international services, which can be connected seamlessly and securely via Self-Sovereign Identity (SSI) and Verifiable Credentials (VC). The partnership will also help to launch a dedicated Global Accelerator Program to incubate and nurture promising startups building applications on the Zetrix platform. This program will provide mentorship, technical support, and access to funding opportunities, empowering budding entrepreneurs to contribute to Hong Kong\u2019s Web3 landscape and serve a global audience. Zetrix is also assessing strategic investment in Web3Labs, gaining access to its extensive network of Web3 experts and ecosystem partners. Such a move will further bolster Web3Labs\u2019 ability to support promising Global Web3 startups via Hong Kong\u2019s progressive virtual assets regulations. According to the statement, Web3Labs leverages its network of over 500 partners throughout the Web3 ecosystem including government bodies, institutions, investors, exchanges and media outlets to foster additional growth and innovation facilitated by the city state. Meanwhile, Summer Capital counts several market-leading startups within their portfolio, including Asia\u2019s leading licensed virtual asset service provider Hashkey Group, and SEBA Bank, which received approval-in-principle licenses from the Securities and Futures Commission to offer virtual asset services in Hong Kong. \u201cWe are thrilled to partner with Web3Labs, a trusted leader in the Web3 space,\u201cThis collaboration will add immense value to Zetrix and provide invaluable support to the burgeoning Web3 ecosystem with key stakeholders in Hong Kong,\u201d said Wong Thean Soon, Co-Founder of Zetrix. According to him, Zetrix and its international supernode on China\u2019s national public blockchain, Xinghuo BIF is the natural choice for Web3 decentralised applications (DApps) that serve the objectives of Hong Kong Special Administrative Region (SAR) to be a global crypto hub. Caspar Wong, Chief Executive Officer of Web3Labs, added that they are excited to welcome Zetrix as a strategic partner. \u201cTheir commitment to aligning with the HK vision and fostering innovation makes them the perfect platform for building impactful Web3 solutions, \u201cBy combining our capabilities and focusing on government and enterprise-aligned applications, both parties aim to foster a thriving Web3 ecosystem that benefits businesses, government entities, and citizens alike,\u201d he added. Henry Chen, Head of Fintech and Blockchain of Summer Capital, said they are glad to connect and join forces with Web3Labs and Zetrix to build an enterprise-grade ecosystem on blockchain infrastructure in Hong Kong. \u201cWe have observed tremendous progress and business development for Web3 here in Hong Kong for the past few years, \u201cBringing Zetrix to Hong Kong marks our strong commitment to embracing the market and its opportunities,\u201d he added. Web3Labs is a platform aims to respond to the policy statement from the HKSAR Government on the development of virtual assets in Hong Kong. Through on-the-ground support, investment acceleration, technical collaborations, and compliance assistance, Web3Labs is dedicated to helping global Web3 companies establish their presence in Hong Kong. Its goal is to create a one-stop gateway for Web3 entrepreneurs. As of the end of July 2023, Web3Labs has provided consultation or support for nearly 1,000 Web3 enterprises in terms of advice or on-the-ground services. Summer Capital is an investment management and advisory firm with a presence in Hong Kong, China and Southeast Asia dedicated to investing in early and growth stage companies in \u201cnew economy\u201d sectors such as fintech, blockchain infrastructure and application, consumption technology and healthcare. Summer Ventures, an affiliate of Summer Capital Limited, is an institutional venture fund dedicated to promote and invest in \u201creal world application\u201d of blockchain technology and infrastructure, leveraging Summer Capital\u2019s past experience of investments in blockchain and fintech industries since 2018. Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix\u2019s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E. G. Services Bhd, the cross-border and cross-chain integration with China\u2019s national public blockchain Xinghuo BIF enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as blockchain-based identifiers (BID) and verifiable credentials (VC). Zetrix and Beitou launch digital ID and driver\u2019s license services on blockchain"}, {"url": "https://technode.global/2024/01/19/grab-malaysia-claims-it-observes-delivery-partners-benefitting-from-new-earning-structure-during-peak-demand-periods/", "page": 2, "title": "Grab Malaysia claims it sees delivery-partners benefitting from new earning structure during peak-demand periods amid riders\u2019 protest", "contents": "Grab Malaysia has claimed that it has observed a \u201cgood number\u201d of its \u201cactive delivery-partners\u201d benefitting from the new earning structure in the last few days, following a protest from its delivery riders at its headquarters office in Malaysia on Friday. Grab Malaysia also said it encourages feedback and foster ongoing discussions on the new earning structure the company recently introduced. \u201cWe are aware that a subset of our delivery-partners are facing challenges with the new earning structure and we are engaging them closely to understand their concerns while also encouraging feedback and fostering ongoing discussions,\u201d Grab Malaysia said in a statement on Friday. The new earning structure is part of Grab Malaysia\u2019s commitment to foster economic growth for all Malaysians, the ride-hailing and food delivery company said. \u201cFor our delivery-partners, we do this by ensuring they have a steady stream of earning opportunities from our platform and they are fairly compensated for every booking they complete,\u201d it said. With the new earning structure, Grab Malaysia said its delivery-partners who need to put in more time and effort will be more fairly compensated. Similarly, delivery-partners who do farther pick-ups and complete bookings during high-demand periods will be rewarded, it added. On Friday, a group of about 300 Grab delivery riders staged a peaceful protest outside Grab\u2019s headquarters in Petaling Jaya (Selangor), demanding the company resolve several issues affecting them, local media Their main demand is for Grab to reinstate the previous base fare of MYR5 ($1.06) for deliveries within the Klang Valley, which was reduced to MYR4 ($0.85) earlier this week, the report added. It was reported that during the protest, representatives of a delivery riders\u2019 group The association\u2019s Vice President, Abdul Hakim Abdul Rani, said discussions with Grab went smoothly. Aside from relaying their demands on the base fare for deliveries, Hakim said they wanted the company to maintain pickup bonuses for riders. \u201cWe have received complaints from fellow Grab delivery riders that some of them have not been receiving the pickup bonus,\u201d Hakim said, adding that another protest involving more riders will be held next week if their demands are not met in five days. Also at the protest was the member of parliament of Machang, Wan Ahmad Kamal, the report added. Grab Malaysia, in the statement on Friday, also said, \u201cWe are already observing a good number of our active delivery-partners benefiting from the new earning structure from the last few days \u2013 as they benefit from our incentives during peak hours and receive fairer total compensation for time spent and distance travelled, in order to complete the job. \u201d\u201cWe will continue to keep investing in promotions like GrabUnlimited, HotDeals, Kombo Jimat, particularly\u201cWe will continue to engage closely with our delivery-partners to help them understand and gather feedback on our new earning structure and look forward to them benefitting from it,\u201d the company said. In November last yearThe group said that its adjusted EBITDA turned positive for the first time at $29 million for the third quarter, an improvement of $190 million compared to adjusted losses before interest, taxes, depreciation of $161 million for the same period in 2022. This was due to the firm continued to grow gross merchandise value (GMV) and revenue, while improving profitability on a segment adjusted EBITDA basis and lowering regional corporate costs. The group is currently expecting adjusted losses before interest, taxes, depreciation of $20 million to $25 million, as compared to $30 million to $40 million previously. It also revised up its full year revenue projection to $2.13 billion to $2.33 billion, from $2.2 billion to $2.3 billion. Earlier in June 2023News portal Grab invested in GXS Bank, its digital banking joint venture with Singapore-listed telecom operator Singtel, through its wholly owned subsidiary A5-DB Holdings Pte Ltd, filings with Singapore\u2019s Accounting and Corporate Regulatory Authority (ACRA) showed. According to The ACRA filings further show that Grab and Singtel will invest an additional S$229.5 million into the bank in Q3 2024 while GSX Bank plans to subscribe to additional shares in GX Bank Malaysia for S$55 million, the report added. The NASDAQ-listed counter\u2019s share price has declined more than 76 percent since its listing in December 2020. Grab Malaysia defends revamped delivery fee framework amid riders\u2019 protest call"}, {"url": "https://technode.global/2024/01/19/grab-malaysia-says-it-commits-to-enhancing-earning-opportunities-based-on-partners-feedback-after-protest-calls-from-riders/", "page": 2, "title": "Grab Malaysia defends revamped delivery fee framework amid riders\u2019 protest call", "contents": "Southeast Asia super app \u201cThis is done with reference to our delivery-partners\u2019 recent feedback about bookings that involve longer wait time at merchants\u2019 outlets or farther pick-ups. Apart from adjusting the base fare, we will increase the bonus pay out for such bookings that require more time and effort to complete,\u201d Grab Malaysia said in a statement on Thursday. Grab Malaysia also said it is committed to fostering economic growth for all Malaysians. \u201cFor our driver- and delivery-partners, we do this by ensuring they have a steady stream of earning opportunities from our platform and they are fairly compensated for every booking they complete,\u201d the company said.  The statement came after calls for protests from a group of Grab riders. Local media According to an invitation shared on An association known as Persatuan Perpaduan Rakan Penghantar Malaysia (PPRPM) has called on the government to expedite the establishment of the gig economy regulatory body to protect the welfare of gig economy operators, especially p-hailing operators, national agency Bernama reported. In a statement on Thursday, PPRPM has urged the Malaysian government to implement short-term measures to address persistent problems plaguing p-hailing drivers, especially reduced wages. \u201cWe urge the government to take action and intervene in the p-hailing issue. Only the government can formulate and issue a policy or guidelines for the entire gig economy ecosystem,\u201d The association also called on the p-hailing service GrabFood Malaysia to immediately return to the original pay rates for drivers and replace the \u201cdrastically reduced new rates\u201d, On the other hand, Grab Malaysia said that to strike a balance between all its stakeholders, the company constantly seek to review its policies to provide a fairer, more stable earnings to those who need it the most. \u201cWe expect the new fee and bonus framework to benefit our most active delivery-partners who have been working hard to fulfil challenging consumer orders such as those that require more effort to complete,\u201d Grab Malaysia said. Grab Malaysia said its recent improvements to maximise earnings include: \u2013 Reduced wait time at merchants by rolling out features that ensure partners\u2019 arrival at the store are more well-timed with when the food or products are ready. GrabFood Malaysia introduces Saver Delivery \u2013 lowest delivery fee from the widest range of restaurants"}, {"url": "https://technode.global/2024/01/18/malaysian-food-startup-meals-in-minutes-nets-1-5m-from-500-global-to-scale-operations-in-malaysia-singapore-and-the-united-kingdom/", "page": 2, "title": "Malaysia\u2019s Meals in Minutes nets $1.5M from 500 Global to scale operations in Malaysia, Singapore, and the UK", "contents": "Malaysian-based food startup Meals in Minutes said in a statement that the round is led by an early-stage venture fund and seed accelerator, 500 Global, with participation from a private investor. This fresh round of capital will fuel Meals in Minutes\u2019s growth across Malaysia and Singapore, including establishing a presence in the United Kingdom. The funding will also be focused on the research and development to expand Meals in Minutes\u2019s selection of foodMeals in Minutes said the firm will continue to expand and is constantly on the lookout for funding and partnership opportunities. \u201cThe funding will be focused on achieving key milestones such as successfully launching in the United Kingdom market, product development, and building a robust foundation for future growth across all markets,\u201d said Vin Vin Khu, Chief Financial Officer of Meals in Minutes. Launched in 2020 by Brandon Lim and Khiara Mia, Founder and Co-founder of Meals in Minutes respectively, the food startup serves a brand new advanced meal kit concept with its frozen vacuum-packed ready-to-cook meals, allowing consumers to whip up a gourmet meal within 15 minutes. All meals are flash-frozen, and individually portioned to reduce food wastage with no genetically modified ingredients or additional artificial substances, and are fully HALAL, HACCP and ISO 22000 certified. \u201cMeals In Minutes was founded with the vision of simplifying cooking for individuals leading busy lives, offering them the opportunity to enjoy high-quality, clean, and nutritious meals without the associated hassle and requisite culinary skills, \u201cAdditionally, recognizing the considerable advantages of this concept, we anticipated its positive impact on business and cafe owners who aspire to provide food services but lack the necessary equipment and resources to operate a fully equipped kitchen,\u201d said Lim. Considering the love and passion for food amongst Malaysians, Meals in Minutes said it is unsurprising that the food and beverage (F&B) industry remains a lucrative business, as the industry is expected to grow annually by 6.85 percent from 2024 to 2028. However, it noted F&B owners, looking to tap into this opportunity, are finding themselves caught in a manpower dilemma. It noted that in Malaysia, fewer young individuals are turning to F&B as a career option due to the low pay wage and the perceived uncertainty within the industry. Additionally, it said the delay in issuing work permits for foreign workers makes it exceptionally slow and difficult for owners to turn to foreign workers to overcome manpowerMoreover, it said the F&B sector exhibits a significantly higher employee turnover rate, with an average of approximately 75 percent, which could lead to businesses facing reduced quality of services and products, and an increased workload amongst existing employees. According to the statement, integrating Meals in Minutes food products as a solution enables businesses to optimize kitchen operations, resulting in the efficient and consistent production of gourmet meals. It said this is achieved without the need for a fully equipped kitchen or the employment of a professional chef, thus overcoming the manpower dilemma without compromising quality. \u201cOur advanced meal kits not only offer sustainable solutions to F&B businesses but also tackle environmental concerns like food wastage and excessive packaging,\u201d said Khiara Mia, Co-Founder of Meals in Minutes. \u201cWe\u2019re also collaborating with CleanHub to prevent plastic pollution by collecting plastic waste for every product sold and are committed to delivering a genuine impact with every purchase, \u201cSustainability remains a pivotal factor in shaping our future business strategies,\u201d she added. It is noted that Meals in Minutes is available in Malaysia across multiple premium grocery stores including Jaya Grocer, Village Grocer, Ben\u2019s Independent Grocer and selected 7-Eleven stores. Meals in Minutes is also currently supplying their food products to Loud Speaker, a Malaysian karaoke chain and has successfully collaborated with celebrities such as Joe Flizzow to create the unique Joe\u2019s Burger, made with 100 percent pure premium yellowfin tuna patty. Malaysian foodtech firm GoodMorning Global raises $4.4M via equity crowdfunding"}, {"url": "https://technode.global/2024/01/17/malaysias-techna-x-acquires-51-percent-stake-in-it-firm-netsec/", "page": 2, "title": "Malaysia\u2019s Techna-X acquires 51 percent stake in IT firm Netsec", "contents": "Malaysia-based energy storage and digital transformation enabler This strategic partnership will see Techna-X acquiring a 51 percent stake in Netsec, combining their expertise in digital ecosystems and energy storage with Netsec\u2019s expertise in cybersecurity solutions, Techna-X said in a statement. According to the statement, the cybersecurity landscape in Southeast Asia presents a dynamic and rapidly evolving market, with an estimated value projected to reach US$4.49 billion by 2024. This growth is driven by increasing digitalization, a surge in cyber threats, and a growing awareness of cybersecurity\u2019s importance across various sectors. The region\u2019s diverse and expanding digital ecosystem, coupled with its unique challenges, offers immense opportunities for innovation and development in cybersecurity solutions. The joint venture is strategically positioned to capitalize on this growth, set new standards in cybersecurity and artificial intelligence (AI) integration, advance cybersecurity technology solutions developed in Malaysia and strengthen Malaysia\u2019s position as a leader in this critical field. \u201cAs Techna-X nears the completion of our multifaceted corporate exercise, which will see Techna-X being recapitalized and strengthened, we are well-positioned to embark on this joint venture with Netsec, a distinguished leader in the cybersecurity industry,\u201d said Naquiyuddin ibni Tuanku Ja\u2019afar, Executive Chairman of Techna-X. According to him, this partnership is not just timely but a strategic alignment of our digital expertise with seasoned cybersecurity professionals. \u201cWe are confident that this collaboration will mark a new era of innovation and leadership in technology, further empowering Malaysia and the region in the cybersecurity digital domain,\u201d he added. Meanwhile, Netsec Managing Director Azman M. Azizi said that with Netsec\u2019s unique expertise and innovative products, this joint venture with Techna-X presents a strategic opportunity to capitalize on the burgeoning cybersecurity market. \u201cOur collaboration with Techna-X is a pivotal step in reaching a wider market and leveraging their digital expertise and market presence, \u201cThis joint venture is more than a partnership; it\u2019s a fusion of strengths that positions us to make a substantial impact in the dynamic world of cybersecurity,\u201d he added. According to the statement, this joint venture underscores the critical importance of addressing challenges such as cyber safety, data privacy, threat intelligence, and skill gaps in the cybersecurity sector. Its long-term objectives include nurturing a skilled workforce and further developing AI-based cybersecurity solutions. TECHNA-X is a technology player listed in Malaysia and has acquired new business streams in the provision of intelligent digital ecosystem and energy storage solutions leveraging on its core technologies in mobile data, Internet of Things (IoT), digital infrastructure, deep analytics, business intelligence, super batteries and ultra-capacitor technology. Driven by its strong business network, the company has worked with multinational conglomerates across various industries including electric vehicle (EV) manufacturers, palm oil plantations, transportation and mobility providers, electronic appliances manufacturers, property developers, food and beverage (F&B) brands, retailers and eCommerce providers. NETSEC is a IT company specializing in cyber security offensive software and services, AI platforms, investigative big data, new technology, and bobile and online security apps development. With a highly experienced management team boasting 20 years of expertise in the market field, NETSEC is dedicated to providing innovative and reliable solutions to protect businesses and individuals from the ever-evolving landscape of cyber threats. NETSEC takes pride in its strong technical support from established multinational and international technology providers including partnerships with industry-leading organizations such as CY4 Gate (Italy), RCS (Italy), Cysecure (Singapore), Trend Micro (Japan), NEC (Japan), and many more. These collaborations allow the company to leverage cutting-edge technologies and global expertise to deliver world-class cybersecurity solutions. Malaysia\u2019s Airo enters fintech as actively managed digital investment platform"}, {"url": "https://technode.global/2024/01/17/bcx-inks-deal-with-mpia-to-enhance-voluntary-re-certificates-market/", "page": 3, "title": "BCX inks deal with MPIA to enhance voluntary renewable energy certificates market", "contents": "Bursa Carbon Exchange (BCX)The partnership, formalized through a memorandum of collaboration (MOC) signed during the MPIA Solar Roadshow 2024 on Tuesday, will focus on four key areas. These include the joint promotion of solar RECs, enabling BCX to offer RECs trading to MPIA members, corporate entities and relevant stakeholders. The partnership also aims to advance market integrity and awareness of RECs ecosystem, focusing on the appropriate usage of RECs and addressing concerns related to double claiming by corporates, including transparent reporting on solar energy claims. Additionally, the partnership involves the exploration of potential solar RECs supply from MPIA members for the inaugural RECs auction, continuous trading and off-market transactions on BCX. Lastly, the partnership will support the prospective development of an ASEAN voluntary RECs framework.  \u201cThe MOC with MPIA signifies our joint support in the implementation of the National Energy Transition Roadmap (NETR), and is a direct response to the growing corporate demand in Malaysia for RECs,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia Berhad. According to him, this is a crucial step forward in enriching the exchange\u2019s offering with solar RECs, following its recent collaboration with Sarawak Energy Berhad to include their hydro RECs in its suite of RECs product. \u201cWe are committed to establishing BCX as a one-stop Shariah-compliant environmental exchange with a suite of offerings, which aligns with Bursa Malaysia\u2019s vision as a multi-asset exchange,\u201d he added. According to the statement, the collaboration between BCX and MPIA aims to establish a transparent, efficient and cost-effective market for REC transactions. This will contribute towards realizing the  NETR, where the renewable energy strategic development roadmap envisions a substantial increase in Malaysia\u2019s RE capacity, targeting 70 percent of installed RE capacity in the power mix by 2050.   \u201cWe are thrilled with our collaboration with BCX, which provides a two-prong benefit, where we provide access to solar RECs for those who wish to be RE1001 affiliated to reduce their scope 2 electricity emissions while BCX provides opportunities to MPIA members to supply solar RECs, thereby generating additional avenue to improve the financial viability of their photovoltaic (PV) projects,\u201d said MPIA President Davis Chong. He said the association also believes that the offer of solar RECs on BCX will make renewable energy more accessible for corporations. BCX, the world\u2019s first Shariah-compliant carbon exchange, was established as a voluntary carbon market (VCM) initiative and this initiative was announced by the Malaysian government during the tabling of National Budget 2022. BCX aims to democratise access to environmental products, thereby fostering a sustainable and resilient environmental products market. MPIA, a non-profit entity, provides a credible and representative platform for the Malaysian solar industry, promoting the widespread adoption of solar energy. Bursa Carbon Exchange inks deals with Sarawak Energy, Hydropower Sustainability Alliance, I-REC for renewable energy certificates"}, {"url": "https://technode.global/2024/01/17/a-closer-look-at-warren-buffett-backed-chinese-ev-giant-byds-plan-in-malaysia/", "page": 3, "title": "A closer look at Warren Buffett-backed Chinese EV giant BYD\u2019s plan in Malaysia", "contents": "China-based The Warren Buffett-backed company is in the process of opening showrooms in the country where the government has been pushing for more adoption of EVs and wooing more EV-related investments in Malaysia. BYD has appointed Sime Darby Motors as the official exclusive distributor of BYD vehicles in the country, according to a statement in December 2022. Sime Darby Motors is the automotive arm of Malaysia-listed conglomerate Sime Darby Bhd and is involved in the retail, distribution and assembly businesses. The company has a presence in nine markets across the Asia Pacific region. It was reported that MYR500 million ($107.53 million) will be invested to set up BYD showrooms in Malaysia. \u201cBy end-2023, with the support of dealer partners, Sime Darby Motors and BYD expect to bring the number of showrooms in the country to between 15 and 20. In 2024, we aim to double this number by establishing our presence across all states in Malaysia to ensure wider customer service coverage. Hence, BYD customers can be rest assured that they will be able to travel throughout Malaysia with the wide coverage of BYD\u2019s network,\u201d a spokesperson from Sime Darby Motors toldAs of last month, BYD already operates 14 showrooms in Malaysia. \u201cThere continues to be growing demand for EVs amongst Malaysians, especially with the increasing line-up of EV vehicles in the market,\u201d the spokesperson said. \u201cThis is further demonstrated by the positive response for the launch of EV models across Sime Darby Motors\u2019 portfolio of world-class principles. The EV sector is projected to see steady growth, supported by the Malaysian Government\u2019s incentives. We believe BYD\u2019s innovative vehicles will be well-received by Malaysian consumers as EV adoption continues to pick up,\u201d Sime Darby Motors said. BYD\u2019s assertive expansion into Malaysia and Southeast Asia coincides with a broader trend of escalating competition and dwindling profits for automakers in China. Besides automakers, Chinese tech giants such as Huawei and Xiaomi have also introduced EV models. Concurrently, the Malaysian government actively promotes EV adoption, seeking foreign investment to develop the EV sector. US-based EV giant Tesla has set up its regional headquarters in Malaysia last year. The country also has plans to woo more EV companies to set up assembly plants here, trade and investment minister Tengku Zafrul Aziz said in an interview with Competition has also heated up in Southeast Asia as Malaysia, Indonesia and Thailand have aspired to become the main player or a hub in the global production and supply chain of EVs. As the world\u2019s biggest seller of battery electric vehicles (BEVs) eyes expansion globally, BYD recently announced that it will launch its cars in Indonesia this week. The launch also comes amid efforts from Indonesia to accelerate EV adoption in a bid to reduce emissions, BYD is also accelerating its overseas footprint by setting up production facilities in Brazil and Thailand (with an annual production capacity of 150,000 units each) and expanding its sales network in Europe, according to DBS Group Research. The companyis shipping several models including Dolphin and Atto3 models abroad and will add more to the export list. The overseas market generates better margins, DBS Group Research analyst said in But expansion to overseas market may not always be smooth sailing. Quoting sources, As comparison, in Southeast Asia, a significant driver accelerating the rapid growth of the EV market is the region\u2019s strong commitment to reducing fuel emissions and improving road safety, investment platform AsiaFundManagers. com reported in August 2023. In addition, pivotal to this momentum of EV adoption is governmental regulatory support and early investments in the sector, the report added. Besides BYD, several Chinese car makers such as Great Wall Motor have been expanding their footprint in Southeast Asia. Great Wall Motor announced last week that it has started commercial production in Thailand, Chinese state-owned automobile manufacturer SAIC Motor has also announced in May last year that it has started construction of the SAIC Motor-CP New Energy Industrial Park in Thailand. The industrial park is expected to help SAIC Motor develop the Asean market, and expand its EV capacity in Southeast Asia. Zooming into Malaysia, it was reported last year that Geely has teamed up with its Malaysian partner Proton to invest $10 billion and build a manufacturing hub in Malaysia as it eyes a stronger footprint in the Southeast Asia region. BYD has appointed Sime Darby Motors as the official exclusive distributor of BYD vehicles in the country, according to Sime Darby Motors is the automotive arm of Malaysia-listed conglomerate Sime Darby Bhd and is involved in the retail, distribution and assembly businesses. It has a presence in nine markets across the Asia Pacific region. It was reported that MYR500 million ($107.53 million) will be invested to set up BYD showrooms in Malaysia. TNGlobalBelow are the edited excerpts:We are in the process of opening BYD showrooms nationwide. Our first showroom \u2013 at TREC KL in Jalan Tun Razak \u2013 opened in December 2022. Our second showroom has been operating in Ara Damansara since February 2023. By end-2023, with the support of dealer partners, Sime Darby Motors and BYD expect to bring the number of showrooms in the country to between 15 and 20. In 2024, we aim to double this number by establishing our presence across all states in Malaysia to ensure wider customer service coverage. Hence, BYD customers can be rest assured that they will be able to travel throughout Malaysia with the wide coverage of BYD\u2019s network. To support the government\u2019s push to low-carbon mobility and to propel our EV ambitions, Sime Darby Motors is committed to strengthening the country\u2019s EV charging infrastructure network. This includes a memorandum of understanding with Tenaga Nasional Bhd, which involves establishing a network of highly efficient EV charging infrastructure along key highways across Peninsular Malaysia. In addition, Sime Darby Motors is also collaborating with prominent hotels in the Klang Valley to install EV charging stations. Excluding Porsche, we have a total of 49 chargers across Klang Valley, Penang, and Johor. Apart from this, KINETA was established by Sime Darby Bhd to provide EV charging solutions in Malaysia, as well as in Hong Kong, and has started supplying and installing EV charging equipment (Wallbox, Siemens, Starcharge, Tritium). There continues to be growing demand for EVs amongst Malaysians, especially with the increasing line-up of EV vehicles in the market. This is further demonstrated by the positive response for the launch of EV models across Sime Darby Motors\u2019 portfolio of world-class principles. The EV sector is projected to see steady growth, supported by the Malaysian Government\u2019s incentives. We believe BYD\u2019s innovative vehicles will be well-received by Malaysian consumers as EV adoption continues to pick up. A key concern for many EV adopters is range anxiety. To help address this, Sime Darby Motors is playing a key role in contributing to the establishment of a comprehensive EV charging infrastructure in Malaysia. This includes the installation of EV charging infrastructure at strategic locations along key travel routes to better support the EV community. We are always seeking out opportunities to expand to new markets with good prospects, at the right time and with the right partners. Any concrete expansion plans will be announced at the appropriate juncture. The EV trend in Malaysia is clear and unmistakable, and Government policies are supportive of this trend to move towards low-carbon mobility and sustainability targets. The appeal of EV products, complemented by incentives to purchase, and subsidies to maintain and operate, combined with an accessible charging infrastructure, will drive sales growth for EVs. Sime Darby Motors will continue leveraging on our wide portfolio of world-class principals to expand our EV line-up and to tap on this opportunity. We are also building capabilities via our collaboration with TOC Automotive College to continuously upskill EV technicians and supplement EV service and maintenance training. Malaysia indeed holds much potential, particularly given its strategic location in the heart of the Southeast Asian region and the country\u2019s strong long-term prospects. The outlook for the EV sector is projected to grow steadily, supported by the Malaysian Government\u2019s incentives. Furthermore, given the strong growth of Malaysia\u2019s SUV segment which saw sales increase by 43 percent in 2021, the BYD ATTO 3 was the ideal choice as the first BYD model to enter the Malaysian passenger car market, providing a more environmentally-conscious option as an all-electric SUV. EV maker BYD to acquire Jabil\u2019s mobile electronics manufacturing business for $2.2B"}, {"url": "https://technode.global/2024/01/16/truemoney-malaysia-now-supports-duitnow-qr/", "page": 3, "title": "TrueMoney Malaysia now supports DuitNow QR", "contents": "TrueMoneyWith this new acceptance, TrueMoney e-wallet users can now use the application to make transactions seamlessly anywhere, from small stalls to retail shops that support the national QR standard, TrueMoney said in a statement. As of 2024, TrueMoney Malaysia has established a robust network of 22,000 merchants and 35,000 payment points nationwide. This remarkable growth, amplified by the acceptance of DuitNow, further solidifies its position as a key player in the fintech industry, witnessing significant growth since its launch in January 2023. \u201cDuitNow acceptance marks a pivotal moment for TrueMoney. Nearly 1.9 million people use the DuitNow QR platform, highlighting the growing preference for contactless payments,\u201d said Jessie Chong, Ascend Group\u2019s Country Managing Director. \u201cBy strategically embracing one of Malaysia\u2019s most popular QR payment networks, we empower millions of users with unmatched convenience and choice, \u201cIn a crowded fintech landscape, supporting DuitNow QR positions TrueMoney as a comprehensive all-in-one payment solution,\u201d she added. Looking ahead to 2024, TrueMoney is set to launch online payment and international remittance services, further solidifying its commitment to providing financial flexibility both locally and globally. These upcoming features underscore TrueMoney\u2019s dedication to staying at the forefront of fintech innovation, ensuring that users can experience the future of digital finance today. TrueMoney is a regional fintech company in Southeast Asia, with operations in seven countries, including Malaysia. The firm has gained regional recognition as a wallet to use because of its wide array of services including payments, mobile top-ups, game top-ups, peer-to-peer transfers and so much more. TrueMoney also has the largest agent network with over 88,000 agents, helping its customers send money seamlessly both domestically and overseas, capturing markets suchDRB-HICOM invests in Carro\u2019s auto fintech subsidiary Genie Malaysia"}, {"url": "https://technode.global/2024/01/12/careplus-goauto-jv-to-commence-130m-green-technology-facility-in-malaysia/", "page": 3, "title": "Careplus, GoAuto JV to commence $130M green technology facility in Malaysia", "contents": "NexV Manufacturing Sdn Bhd (NMSB), a joint venture company between Malaysia-based glove maker The duo said in a statement on Friday that the facility is aiming to commence operations beginning in the first quarter of 2025, and creating new employment opportunities and investments in the region within and adjacent to Negeri Sembilan of Malaysia. According to the statement, the plant will have a capacity of 30,000 vehicles per year, in which one third will comprise the assembly of NETA models through the joint venture between Careplus and Intro Synergy Sdn Bhd (a GoAuto subsidiary). The plant will not only assemble NETA vehicles, but will be open to other NEV brands intending to carry out completely knocked down (CKD) assembly of passenger and commercial EVs or electric motorcycles. Phase one of the project involves the development of an assembly plant, expected to begin in the first quarter of 2024. Meanwhile, phases two and three will begin in 2026 and 2028 respectively, expanding to an even bigger production capacity of 50,000 units per year. The first phase of the facility will create more than 600 skilled and semi-skilled jobs with specialization in EV manufacturing, especially in the use of smart manufacturing technologies, including automation, system integration, robotics, cloud-based plant management, industrial IoT and other technologies synonymous in the Fourth Industrial Revolution. As operations are scheduled to start in early 2025, recruitment and training of the plant\u2019s workforce will commence as early as August 2024. Parallel with the production of green vehicles, the plant will also utilize eco-friendly solutions, such as technologies that produce zero wastewater discharge, zero noise pollution, while solid waste will be processed through recycling centers within the facility. A significant portion of factory\u2019s energy will also be powered by solar panels to be installed on the roof of the plant. Apart from Intro Synergy Sdn Bhd (the sole distributor for NETA brand), the HIGER and YUTONG brands (distributed by GVT Sdn. Bhd. , a joint venture between W&R Resources Sdn Bhd and Careplus Group Berhad) will work with NMSB to assemble for all models locally produced under these brands.  It is noted that Intro Synergy and Hozon New Energy Automobile Co. Ltd. (the principal company that produces NETA) exchanged a CKD agreement, as collaborations for CKD operations in Malaysia. NMSB also exchanged a Memorandum of Understanding (MoU) with Qingdao Huayue Guotai New Energy Car Co. Ltd. To explore new opportunities for New Energy Vehicles in Malaysia and ASEAN. \u201cWe hope that with the assembly of NETA V model, more Malaysians will be able to accept and support the products produced by Chembong\u201d, said Careplus Chief Executive Officer Lim Kwee Shyan. According to the statement, NMSB had obtained its interim Manufacturing License from the Ministry of Investment, Trade and Industry (MITI), through the Malaysia Investment Development Authority (MIDA) in October 2023. The firm had also recently received the Development Order (Kebenaran Merancang) to commence construction of the manufacturing plant from Rembau District Council. \u201cWe take pride in the extensive support this project has garnered from both state and federal governments, contributing to its rapid progress in advancing local assembly and localization efforts within the country, \u201cWe believe that this represents a significant stride towards fostering greater acceptance and awareness of electric vehicles in the future,\u201d said Go Auto Chairman, SM Azli SM Nasimuddin Kamal. Meanwhile, MIDA Chief Executive Oficer Arham Abdul Rahman said the green technology facility meant to augment national EV targets defined by the Low Carbon Mobility Blueprint (LCMB) and National Energy Policy (DTN). It also complements the aspirations described in the National Automotive Policy(NAP) 2020 and the New Industrial Master Plan (NIMP) 2030, he added. He also said the facility showed NMSB\u2019s commitment to innovation, green energy and industry leadership, advancing Malaysia\u2019s status as a major player in the EV industry while placing the nation at center stage as a pivotal global impetus. Careplus who has been listed in Bursa Malaysia since 2010, has been involved in latex glove making for more than 35 years. To date, the firm\u2019s production capacity reached 5.32 billion units per annum, with various glove types such as latex examination dan surgical gloves. Today, it has four latex glove plants, all located in Negeri Sembilan. In 2023, Careplus officially joined new businesses based on green and renewable technology, developed with business partners GoAuto Group. GoAuto Group is a group of companies with 100 percent Bumiputera equity. Established in 2013, the group\u2019s core business centers on automotive products \u2013 where the company is actively involved in manufacturing, assembly, sales, distribution, after sales services and spare parts in various vehicle segments such as passenger vehicles, commercial vehicles, motorcycles, special vehicles, and electric vehicles. The GoAuto Group also supplies vehicles for government and GLC use. The group is also an exclusive distributor of electric vehicles for passenger and commercial vehicle brands NETA, HIGER and YUTONG. Careplus partners GoAuto to set up EV plant in Malaysia"}, {"url": "https://technode.global/2024/01/12/malaysias-warisan-tc-inks-deal-with-chinas-gac-aion-to-distribute-ev-in-malaysia/", "page": 3, "title": "Malaysia\u2019s Warisan TC inks deal with China\u2019s GAC AION to distribute EV in Malaysia", "contents": "The origin web server timed out responding to this request."}, {"url": "https://technode.global/2024/01/09/tony-fernandess-global-empire-to-be-broken-up-into-five-listed-companies-utlimately/", "page": 3, "title": "Tony Fernandes\u2019s global empire to be broken up into five listed companies \u201cutlimately\u201d", "contents": "Tony Fernandes\u2019s global empire will eventually be broken up into one listed company in the US and four other companies listed in Southeast Asia, the Malaysian tycoon behind low-cost airline AirAsia said on Monday. \u201cWe want to build four companies (for the non-aviation business), in the end they\u2019ll probably be broken up. So shareholders of Capital A will own shares in aviation, will own shares in Teleport\u2026 we\u2019ll list all of them separately, and one company will probably take over Capital A\u2019s listing,\u201d he told reporters on Monday at AirAsia Aviation 2024 Outlook briefing. \u201cSo in the end, my dream is when I retire\u2026 five listed companies, one in America and four in other parts of Asean,\u201d he explained, adding that he plans to retire in five years. The non-aviation businesses he was referring to include logistics business Teleport, Move (online travel agency and fintech firm BigPay), airline engineering and maintenance services provider Asia Digital Engineering, food company Santan, aviation consulting firm AirAsia Consulting, AirAsia Academy, among others. Fernandes was responding to Formerly known as AirAsia Group Bhd, the Malaysia-listed aviation group was renamed Capital A in 2022 to reflect its broader portfolio. On Monday, Fernandes announced that Capital A will sell its aviation business to long-haul unit AAX, in a bid to consolidate both long and short-haul operations under a single AirAsia brand. \u201cEventually AirAsia X and AirAsia will be merged into one airline\u2026 my dream is for it to be one ASEAN airline,\u201d he said, adding that AAX and AirAsia have started to fly each other\u2019s routes. The move is also part of the initiatives to lift the so-called Practice Note 17 (PN17) status for Capital A. Capital A and AAX were hit by pandemic travel restrictions and classified by Malaysia\u2019s stock exchange as PN17, or financially distressed. Companies in such category may be delisted from the exchange if they fail to submit a regularization plan to stabilize their finances within a certain time frame. AAX was removed from the classification in November last year. Capital A (AirAsia Group) has been actively building its super app and digital businesses when most of the group\u2019s aircraft were grounded due to travel restrictions to contain the COVID-19 pandemic. The group has launched e-hailing service, AirAsia Ride in August 2021. In the same month, its logistics arm Teleport has acquired the food delivery platform Delivereat as it expands its food delivery business. The group also announced the acquisition of Indonesian ride-hailing giant Gojek\u2019s operations in Thailand for $50 million in July. Its FinTech unit BigPay has also formed a consortium and submitted its application for a digital banking license to the country\u2019s central bank but the consortium was not granted the license. According to the notes attached to Capital A\u2019s latest financial results, Teleport posted a quarterly revenue of MYR188.9 million ($40.68 million) in the third quarter ended Sep 30, 2023. The logistics company recorded negative earnings before interest, taxes, depreciation, and amortization (EBITDA) of MYR3.7 million. Its super app airasia Move\u2019s revenue for the quarter was MYR171.4 million, EBITDA for the quarter was MYR11.7 million. Santan posted a quarterly revenue of MYR42.0 million, while its EBIDA stood at MYR10.2 million. BigPay posted revenue of MYR11.1 million, its EBITDA loss stood at MYR22.15 million. Capital A reported a smaller net loss of MYR178.82 million for its third quarter, from net loss of MYR901.31 million in the corresponding quarter a year ago, as revenue more than doubled on continued improvement in its aviation business. In a research report on Tuesday, Kenanga Research said it is positive on this latest corporate development by Capital A which will form part of the proposed regularisation plan to lift it out of the PN17 status. \u201cEssentially, the exercise is expected to result in greater clarity of investment between Capital A, being the aviation services and digital businesses provider, and AAX, a pure aviation business consolidating both long and short haul routes under the AirAsia brand name,\u201d analyst Raymond Choo wrote in the research note. This would result in the development of a more focused shareholder base, which is also expected to facilitate a business-centric valuation of the separate entities and potentially unlock value to shareholders, he added. Commenting on the updates for Capital A\u2019s plan to list its brand management unit on the NASDAQ stock exchange, Fernandes said the company will appoint advisors soon. \u201cIn the next week, we\u2019ll be appointing all the advisors and then working towards a business combination. I hope [it will be completed in] June- July. We can\u2019t control as it depends on the American regulators etc. Our target is June-July,\u201d he said. Capital A announced in November last year that it has entered into a Letter of Intent (LOI) with Aetherium Acquisition Corp, a Special Purpose Acquisition Company (SPAC) listed on the NASDAQ, for a proposed business combination merger with Capital A International, to be incorporated. The proposed business combination would result in Capital A International, a new investment and strategic development company that leverages the \u201cAirAsia\u201d brand and capitalizes on core capabilities in aviation, travel and hospitality and digital technologies, becoming a standalone publicly traded company in the US. The proposed business combination will be at an indicative equity value of $1 billion based on an independent valuation of the AirAsia Brand. AirAsia, which Fernandes acquired from Malaysia government in 2001 for less than $1 has turned into Asia\u2019s largest low-cost carrier over the years. AAX was launched in 2007 with ambitions to operate long-haul flights, including to Europe. AirAsia X, however, later suspended flights to London and Paris in 2012 due to rising costs. AAX shifted focus to markets like Australia, Japan and China. AirAsia X takes over Capital A\u2019s aviation business"}, {"url": "https://technode.global/2024/01/09/aeon-bank-gets-nod-to-commence-islamic-digital-bank-business-in-malaysia/", "page": 3, "title": "AEON Bank gets nod to commence Islamic digital bank business in Malaysia", "contents": "AEON Credit Service (M) Berhad (AEON Credit) This positions AEON Bank as the first Islamic digital bank in Malaysia, AEON Credit Service said in a statement. The approval was granted pursuant to BNM\u2019s validation of the Bank\u2019s operational readiness. AEON Bank is also a subsidiary of AEON Financial Service Co. , Ltd. The bank targets to unveil its phased rollout in the first half of this year. \u201cOur core mission is to advance the promotion of financial inclusion and Islamic banking,\u201d said Raja Teh Maimunah, Chief Executive Officer of AEON Bank. \u201cAs part of one of Malaysia\u2019s most recognized retail household brands, we aim to provide accessible, inclusive, and Shariah-compliant digital banking solutions to our AEON Group of customers as well as to all Malaysians,\u201cIt is our intent to empower our communities with access to digital financial services which are simplified, safe and secure,\u201d he added. Meanwhile, AEON Credit Managing Director Daisuke Maeda said that this momentous occasion marks a significant leap forward in redefining financial services provided by the AEON Group and reaffirms their commitment in continuing our support for financial inclusivity. According to the statement, AEON is a highly recognized household name that has served Malaysians nationwide over four decades. With the Bank within its stable group of companies, the AEON Group aims to further expand and enhance the provision of its services to its retail and wholesale customers as well as ecosystem partners such as its auto dealers, merchants, suppliers, tenants, amongst others. In addition, the bank\u2019s advocacy of digital technology will facilitate the introduction of new and innovative products for the AEON Group, thus enhancing the overall value proposition for its diverse customer base and ecosystem partners.  \u201cAs AEON Group Malaysia celebrates 40 years of trust, we see AEON Bank as an opportunity to provide more to our loyal customers and business partners who have been the bedrock of our success,\u201d Daisuke Maeda emphasized.  It is noted that AEON Credit is one of the leading non-bank financial institutions that has been promoting financial inclusion by providing access to financing to individuals who have traditionally not been able to access funding. AEON Bank aims to further that commitment by extending financial services to both individuals and small businesses who would not have access to funding and other financial services.  In addition, AEON Bank will also prioritize financial literacy and education initiatives to empower individuals and small businesses with the knowledge and tools to make informed financial decisions.  AEON Bank also plans for a phased rollout of its new App, beginning with an exclusive beta testing phase with the AEON Group of employees. \u201cAs we prepare to introduce our App, we recognize the critical importance of gathering insights and feedback from users to refine and optimize the App, \u201cBy initially offering access to a select group of beta testers, we aim to collaboratively finetune the App to ensure it meets the expectations of our wider user base upon full release,\u201d explained Raja Teh Maimunah.  AEON Bank is a subsidiary of AEON Financial Service Co. , Ltd. (AFS Japan) and an associate company of AEON Credit. AFS Japan is a comprehensive financial group with roots in the retail sector which operates in Japan and ten other countries/regions in Asia, responsible for the AEON Group\u2019s financial services business. AFS Japan currently consists of 30 consolidated subsidiaries and one equity method affiliate in 11 Asian countries including Japan, Hong Kong, Thailand and Malaysia. In addition to its approximately 600 sales bases in Japan and overseas, the network also includes AEON Group stores and affiliated merchants, with which AFS Japan has built strong cooperative relationships. The AEON Group is a pure holding company that comprises eight businesses. It is Japan\u2019s largest retail group. AEON Credit Service partners Aeon Financial Service to undertake digital Islamic bank business in Malaysia"}, {"url": "https://technode.global/2024/01/09/boost-rhb-digital-bank-consortium-gets-approval-to-commence-operations-in-malaysia/", "page": 3, "title": "Boost-RHB Digital Bank Consortium gets approval to commence operations in Malaysia", "contents": "BoostThis marks a momentous milestone as the consortium becomes the first primarily Malaysian-owned digital bank to commence operations with a pioneering embedded digital bank app in the local market, designed to meaningfully address financial inclusion gaps for the underserved and unserved, the duo said in a joint statement on Monday. It is noted that the Boost-RHB Digital Bank Consortium received regulatory approval ahead of the scheduled timeline, following a thorough operational readiness review validated by BNM. Having successfully demonstrated a robust and resilient foundational infrastructure for the digital bank, now formally known as Boost Bank by Axiata and RHB (Boost Bank), the consortium will advance into the alpha-testing phase involving internal employees, family, friends, and a selected group of customers. In the lead-up to the public launch, the digital bank will progressively enhance its product propositions and refine the user experience to pave the way for a new era of embedded finance tailored to meet the diverse needs of all Malaysians.  Spearheading the team is Fozia Amanulla, who was recently appointed Chief Executive Officer (CEO) of Boost Bank. She leads an experienced digital bank team, encompassing expertise across technology, information security, product, risk and compliance, and more \u2013 leveraging fintech talent from Boost, banking expertise from RHB, and new capabilities from the wider industry. \u201cAxiata is committed to nurturing a dynamic digital banking ecosystem, from enabling digital wallets for over 10 million Boost customers to introducing more innovative digital banking solutions to the underserved and unserved segments of Malaysian society,\u201d said Vivek Sood, Group Chief Executive Officer of Axiata Group Berhad. \u201cOur aim is to broaden the digital banking options available to those with limited access to conventional banking facilities, towards fostering an inclusive digital society for all Malaysians which aligns with Axiata\u2019s vision of becoming the Next Generation Digital Champion, \u201cAs we progress on our telco-techco journey, Axiata will continue to focus on its portfolio of assets including digital businesses to accelerate long-term value for our shareholders,\u201d he added. Sheyantha Abeykoon, Group Chief Executive Officer of Boost, said the firm remains committed to upholding the highest standards as we reimagine financial services responsibly, through the power of technology and data. \u201cThis landmark achievement is a culmination of the symbiotic and strategic partnership between a leading fintech and successful financial institution with substantial ecosystems, united by a shared vision to drive greater financial inclusion, \u201cIt is a monumental triumph that underscores the capabilities of our pioneering team, that built the bank from scratch. Our people are at the core of our innovation, and I have every confidence that the team will make our digital bank vision into reality,\u201d he added. Fozia Amanulla, Chief Executive Officer of Boost Bank, added she is truly humbled and honored to be leading this remarkable digital bank team as they pave the way, not only for the industry, but for the entire nation. \u201cRooted in the fundamental belief that everyone deserves a bright financial future, we are determined to propel Malaysia into an age of true financial inclusivity, by harnessing the untapped potential of embedded finance with our digital bank, \u201cBacked by the consortium\u2019s combined ecosystem and wealth of data, we are uniquely positioned to offer embedded finance,\u201d she added. Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group, stated that the approval received from Bank Negara Malaysia and the Ministry of Finance marks a significant milestone in the bank\u2019s joint commitment with Boost to foster a more inclusive financial ecosystem, especially for the underserved businesses and individuals in Malaysia. \u201cUnder the dynamic leadership of Puan Fozia Amanulla and her experienced digital banking team, we are confident that Boost Bank is poised to take the lead in the digital fintech landscape,\u201cTogether, we make progress happen for everyone, towards ensuring a robust and inclusive financial ecosystem that will benefit everyone in our diverse community,\u201d he added. The Boost-RHB Digital Bank Consortium, in which Boost holds 60 percent equity, and RHB owns the remaining 40 percent, was among the five successful license applicants announced by BNM in April 2022. As the consortium commences its operations in phases following the completion of the operational readiness audit, they opined that Malaysia is poised to unlock the benefits of greater financial inclusion. Boost is a regional full spectrum fintech arm of Axiata that provides financial services to users across seven countries in Southeast Asia. The RHB Banking Group, with RHB Bank Berhad as the holding company, is one of the largest fully integrated financial services group in Malaysia. The group\u2019s regional presence now spans eight countries including Malaysia, Singapore, Indonesia, Thailand, Brunei, Cambodia, Vietnam and Lao PDR. AEON Bank gets nod to commence Islamic digital bank business in Malaysia "}, {"url": "https://technode.global/2024/01/08/airasia-x-takes-over-capital-as-aviation-business/", "page": 3, "title": "AirAsia X takes over Capital A\u2019s aviation business", "contents": "Malaysian aviation group AAX said in a statement that the strategic move positions AAX to become the overarching regional aviation provider for all short and medium-haul routes under the AirAsia brand name. It said this groundbreaking acquisition is expected to provide unparalleled advantages, including a strengthened market position, increased operational efficiency, and ultimately driving cost savings and enhanced financial performance. It is noted that the decision to combine the airline businesses through these acquisitions leverages AAX\u2019s robust recovery trajectory after its upliftment from the Practice Note 17 (PN17) status in November 2023. \u201cThese strategic acquisitions serve as pivotal milestones in AAX\u2019s post-PN17 revival strategy, bolstering our financial stability and enhancing our market positioning, \u201cThe consolidation under the AirAsia brand as a one-listed entity reflects our commitment to capitalize on our regained strength and market confidence to deliver a unified and unparalleled travel experience for our guests and significant value for our shareholders,\u201d AirAsia X Chairman Fam Lee Ee said. \u201cLeveraging the strengths of all airlines under the AirAsia brand, we are poised to create a pure-play entity that propels us forward, \u201cThe synergy created through these strategic acquisitions represents more than just a financial consolidation; it symbolizes our role as a trailblazer in shaping the future of the aviation industry. The future holds immense potential, and we are excited to embark on this transformative journey,\u201d he added. According to the statement, the detailed announcement on the proposed acquisitions, including their effects on various financial metrics is expected to be announced in due course, subject to the definitive share sale and purchase agreement and its completion. AirAsia Aviation Group strengthens leadership team with two executive appointments"}, {"url": "https://technode.global/2024/01/08/airasia-aviation-group-strengthens-leadership-team-with-two-executive-appointments/", "page": 3, "title": "AirAsia Aviation Group strengthens leadership team with two executive appointments", "contents": "AirAsia Aviation GroupBoth executives will play pivotal roles in shaping the future of the airline group, AirAsia said in a statement on Monday. According to the statement, Voo will lead the airline operations with a focus on optimizing and enhancing efficiencies across core airline functions, as well as identifying and mitigating potential risks to improve the airline\u2019s overall performance. With a proven track record in the airline industry including over 11 years with AirAsia, he brings a wealth of experience to the role, having previously served in leadership positions including as Chief Executive Officer of the Civil Aviation Authority of Malaysia (CAAM). Kamal, on the other hand, will be responsible for corporate functions \u2013 encompassing finance, corporate finance, aircraft leasing, legal, investor relations and strategy. He will also provide oversight on internal audit and risk management for the aviation group. Kamal joined the airline from Urusharta Jamaah, a government linked investment company (GLIC), where he served as Chief Executive Officer and Chief Investment Officer. Prior to that, he worked in Investment Banking with Deutsche Bank, J. P. Morgan and Credit Suisse. He was also previously a board member of AirAsia X. \u201cAs we enter a new era, these leadership appointments signify a significant milestone in the airline\u2019s evolution, steering AirAsia through an era of digital transformation, innovation, and sustainable growth, \u201cBoth of their combined efforts will allow us to continue our dedicated focus on our strategic decision-making, long-term planning, and overall organizational direction for the group,\u201d said Bo Lingam, Group CEO of AirAsia Aviation Group.  According to him, the synergy between the seasoned leaders and the existing team is expected to fuel further innovation and drive us toward continued success. \u201cI am confident that both Chester and Farouk\u2019s invaluable experience, within and outside of AirAsia, will be great assets to achieve our short, medium and long-term goals,\u201d he added. In the anticipated outlook for AirAsia in 2024, the group is actively working towards the full restoration of its fleet. It looks forward to the reactivation of 191 aircraft by the end of the first quarter this year, with 166 already in operation. Demonstrating a strong recovery trajectory, the group expects its capacity to rebound to 83 percent of pre-pandemic levels by the close of the first quarter of 2024 and to continue to grow in the future. \u201cThe focus on efficiency, risk mitigation, and performance improvement will be instrumental in navigating the challenges and opportunities that lie ahead as we shape the future of AirAsia Aviation Group, \u201cThe aviation industry is evolving rapidly, and I am excited to lead the charge in ensuring that AirAsia continues to set new benchmarks across all that we do,\u201d said Voo. Meanwhile, Kamal said that as AirAsia embarks on this new phase of growth, the corporate function plays a crucial role in the overall strategy and success of the airline. \u201cBy aligning them with the broader goals and vision of the group, we will implement strategies that contribute not only to the company\u2019s financial success but also to its reputation for excellence and innovation, \u201cIt is an exciting journey, and I look forward to contributing to the continued growth of AirAsia in Asean and beyond,\u201d he added. AirAsia parent Capital A to list brand management business on NASDAQ via SPAC deal"}, {"url": "https://technode.global/2024/01/03/khazanah-and-cgc-digital-invest-in-funding-societies-to-broaden-financing-access-to-msmes/", "page": 4, "title": "Khazanah and CGC Digital invest in Funding Societies to broaden financing access to MSMEs", "contents": "Khazanah Nasional Berhad (Khazanah)Khazanah said in a statement that with this investment, Funding Societies aims to expand its Malaysian coverage to areas beyond Kuala Lumpur, Selangor, Penang, and Johor. By the end of 2025, it targets to serve more than 25,000 MSMEs across Malaysia, thereby improving micro, small and medium enterprise (MSME)\u2019s access to financing, growth, and scalability while fostering job creation and income development for those employed by these businesses. According to the statement, the company intends to widen the reach of its Islamic financing solutions introduced in Malaysia earlier this year. Particularly for the Malaysian market, with Khazanah\u2019s investment, Funding Societies aims to have more than 50 percent of its annual loan disbursements from Shariah-compliant financing by 2025 \u2013 in line with the aspiration to support the growth of Bumiputera MSMEs. Since its launch in May 2023, it has disbursed over MYR100 million ($21.58 million) in Shariah-compliant financing in Malaysia. Khazanah\u2019s investment falls under its Dana Impak mandate, a fundamental pillar under its Advancing Malaysia strategy. The investment complements the Malaysian government\u2019s aspiration of enhancing MSMEs\u2019 performance through greater access to financing, creating opportunities and promoting socioeconomic growth for rural, semi-urban and underserved communities with limited access to financial services. In order to create a greater impact on the Malaysian MSME ecosystem, Khazanah\u2019s investment in Funding Societies is made alongside CGC Digital. CGC Digital aims to advance financial inclusion through the development of innovative digital guarantee products as well as its own guarantee credit scoring model that can close the gap and address the pain points in micro and small businesses\u2019 demand for financing. These nation-building initiatives target to level the playing field for MSMEs, especially thin-file MSMEs. To reinforce the partnership, Funding Societies will continue to collaborate with CGC Digital to provide digital guarantee products on its platform, which will further aid Malaysian micro and small businesses in getting financing in the long term. A digital-first approach through its digital guarantee product leveraging alternative data will allow micro and small businesses broader and more affordable access to financing. Khazanah\u2019s Managing Director Amirul Feisal Wan Zahir said that the investment in Funding Societies reflects its commitment to fostering financial inclusion and bridging the funding gap, especially within the MSME community. \u201cBeing the backbone of Malaysia\u2019s economy and contributing nearly half of the nation\u2019s employment, MSMEs are both critical and critically underserved. Hence, this investment aligns with our mission of contributing to nation-building and socioeconomic growth,\u201d he said. He added that by supporting innovative platforms like Funding Societies together with CGC Digital, Khazanah aims to empower the MSME community, unlocking new opportunities to propel the nation in line with the MADANI Economy vision of improving socioeconomic outcomes for all. According to the statement, Khazanah\u2019s impact thesis was driven by the role of digital finance platforms, such as Funding Societies, in leading the delivery of comprehensive digital financing solutions to underserved MSMEs in Southeast Asia, enabling improved access to capital and fostering financial inclusion throughout the region. Yushida Husin, Chief Executive Officer of CGC Digital, said that CGC Digital sees this investment as a strategic win for Malaysian MSMEs. \u201cWe share Dana Impak\u2019s vision and believe that, by working together with Khazanah, CGC Digital can advance financial inclusion among underserved and unserved MSMEs in the digital ecosystem,\u201d he said. According to him, CGC Digital seeks to push the envelope by developing a suite of innovative digital guarantee products for thin-file MSMEs that can be offered together with Funding Societies\u2019 financing products to increase their chance of obtaining much-needed financing. It is noted that the investment also follows the success of CGC Digital\u2019s partnership with Funding Societies earlier this year, where a new guarantee product was developed via a pilot program. The product provides Credit Guarantee Corporation Malaysia Berhad\u2019s guarantee at the transactional level of Funding Societies\u2019 digital supply chain financing, thereby directly supporting the business activities of MSMEs and advancing financial inclusion. Mohd Zamree Mohd Ishak, Board Member of CGC Digital and the President and Chief Executive Officer of CGC Digital\u2019s parent company, said that by joining forces with Khazanah and Funding Societies, this strategic investment by CGC Digital shows CGC Group\u2019s commitment to taking Malaysian MSMEs, especially thin-file MSMEs, to the next level. Funding Societies Co-founder and Group Chief Executive Officer Kelvin Teo said the firm is honored to receive support from Khazanah and CGC Digital, who share its conviction to impact and MSMEs. \u201cThis is a testament to our commitment towards extending credit to reach more underserved MSMEs. We would also progressively offer MSMEs more cash flow management solutions to power their growth,\u201d he said. He added that while MSMEs represent 97 percent of business establishments in Malaysia and contribute 38 percent to the gross domestic product (GDP), this group still faces significant challenges in obtaining credit, as evidenced by the MYR 90 billion ($19.42 billion) financing gap in Malaysia. \u201cThis is where Funding Societies seeks to step in by serving the region\u2019s MSMEs\u2019 cash management challenges and needs with our extensive reach and broad range of short-term financing solutions,\u201d Teo added. Funding Societies partners Halal Development Corporation to enhance financing access to halal SMEs"}, {"url": "https://technode.global/2023/12/29/chinese-logistics-services-provider-best-aims-to-open-its-sorting-center-in-2024/", "page": 4, "title": "Chinese logistics services provider BEST to open its sorting center in Malaysia in 2024", "contents": "China-based supply chain and logistics services provider BEST said in a statement on Friday that in addition to build a 220,000-square-meter facility in Malaysia, the company aims to connect Thailand, Vietnam, Singapore and Malaysia in its logistics network, better enabling cross-border express delivery among these countries next year. \u201cWith many Chinese companies deploying resources and investing in manufacturing facilities in Southeast Asia to support the tangible growth of the Belt and Road Initiative, they have asked us to provide more customized services to ensure the operations of their supply chains in the region,\u201d said Johnny Chou, chairman and Chief Executive Officer of the Hangzhou, Zhejiang province-based company. Fueled by growing trade volume between China and the Association of Southeast Asian Nations, an ongoing consumption boom in ASEAN member economies and flourishing cross-border e-commerce business in the Asia-Pacific region, the New York-listed Chinese company has already built service networks and overseas warehouses in several Southeast Asian countries. After entering Thailand, its first market in Southeast Asia, five years ago, BEST expanded its cross-border business by establishing new international routes between China and Southeast Asian countries. In the first half of 2023, it connected China with the Philippines and Indonesia with its services. Unlike other logistics service providers, BEST did not penetrate the market by first establishing transport routes. Instead, it invested in building self-owned express networks and distribution centers in core logistics hub cities in Thailand, Vietnam, Malaysia and Singapore. \u201cEquipped with automated facilities, the distribution centers are able to ensure reliability, scalability and potential for reduced marginal costs of our service networks in Southeast Asia,\u201d Chou said. Highlighting that cross-border e-commerce plays a prominent role in trade between China and ASEAN, he said that the Belt and Road Initiative (BRI) has turned regional connectivity into a reality, providing assurance for achieving sustainable economic development in the region. China and other participating countries have engaged in foreign trade valued at $19.1 trillion since the inception of the BRI, with two-way investments surpassing $380 billion, data from the Ministry of Commerce showed. Chou said the company will offer more services encompassing small packages, express delivery and warehousing between China and markets in Southeast Asia, catering to the outbound needs of domestic manufacturing and cross-border e-commerce businesses. Meanwhile, Lu Miao, General Manager of BEST Inc Malaysia emphasized the company\u2019s commitment to excellence, saying,\u201d the newly inaugurated sorting center symbolizes BEST Inc\u2019s unwavering commitment to a relentless pursuit of excellence, pushing the boundaries of logistics technology and infrastructure. \u201dLu Miao believed this hub will play a pivotal role in optimizing efficiency, speed, and reliability in the movement of parcels and goods, supporting businesses and communities across South East Asia. BEST Inc\u2019s gross profit touched 51.8 million yuan ($7.91 million) in the third quarter of this year. Revenue generated by its international arm BEST Global grew by 30.2 percent year-on-year. As at end of September, the Chinese company had 33 self-operated express sorting centers, over 1,200 service points and business operations spanning six countries in Southeast Asia, with 47,000 square meters of warehousing area. BEST is a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia. Through its proprietary technology platform and extensive networks, BEST offers a comprehensive set of logistics and value-added services, including freight delivery, supply chain management and global logistics services. BEST Inc started its business mapping for Southeast Asia market expansion in 2018. The group completed its express delivery network coverage in Thailand, Vietnam, Malaysia, and Singapore in 2020, and opened up the cross-border logistics network between China and Southeast Asia. Started with express delivery network in Southeast Asia market, BEST Inc has gradually built-up its global warehouses, cross-border networks, and cargo networks. Malaysia\u2019s Teleport and China\u2019s SF Airlines to cross-share logistics network"}, {"url": "https://technode.global/2023/12/29/malaysias-gentari-acquires-stake-in-hai-long-offshore-wind-project-in-taiwan/", "page": 4, "title": "Malaysia\u2019s Gentari acquires stake in Hai Long offshore wind project in Taiwan", "contents": "Malaysia-based clean energy solutions provider The investment sees Gentari taking a 49 percent stake in Canada-based Northland Power Inc. \u2019s (Northland) ownership of the project, equivalent to a 29.4 percent indirect equity interest, Gentari said in a statement on Friday.  According to the statement, Northland now holds a 30.6 percent ownership interest in the overall project and will continue to take the lead role in the construction and operation of the project developed as a joint venture between Northland and Japan-based Mitsui & Co. Comprising two phases, the project has an expected combined generating capacity of 1,022 MW and will play an important role in helping Taiwan achieve its renewable energy target of 15 GW of offshore wind to be constructed between 2026 and 2035. Once operational, Hai Long will be the largest offshore wind project surrounding the island, besides being one of the largest offshore wind facilities in Asia, providing enough clean energy to power more than one million households as well as industrial facilities in Taiwan. \u201cGentari is pleased to expand into the offshore wind sector through this strategic partnership with Northland for the Hai Long offshore wind project,\u201cBringing Gentari to the forefront of the offshore wind industry is a powerful step towards realising our clean energy ambitions and an important milestone in our commitment to help advance the adoption of renewable energy globally,\u201d said Sushil Purohit, Chief Executive Officer of Gentari. According to him, the project not only aligns with the firm\u2019s vision for a sustainable future and its aim to contribute meaningfully to a cleaner tomorrow, but also strengthens Gentari\u2019s position as a valued clean energy solutions partner in achieving net zero goals. Meanwhile, Mike Crawley, President and Chief Executive Officer of Northland, said that Northland is delighted to welcome Gentari as an official long-term partner of the Hai Long offshore wind project. \u201cWe believe Gentari will add significant value to amplify our impact in this space, \u201cTogether, we are embarking on a journey where our aligned vision and collaborative effort can further accelerate progress towards a sustainable energy future,\u201d he added. According to the statement, Gentari\u2019s global aspiration includes building 30 to 40 GW in renewable energy capacity by 2030 through projects across solar, onshore and offshore wind and battery storage, targeting utility-scale, commercial, industrial and retail customers. IHI partners Gentari to develop global green ammonia value chain"}, {"url": "https://technode.global/2023/12/28/southeast-asias-top-10-tech-news-in-2023/", "page": 4, "title": "[Year in review] Southeast Asia\u2019s Top 10 tech news in 2023", "contents": "The year 2023 was rather gloomy for the tech industry in Southeast Asia as compared to last year. The global wave of layoffs hitting US tech companies like Meta, Amazon, and Twitter has also come to Southeast Asia amid a so-called \u201cfunding winter\u201d for tech startups in the region. In March, it was reported that e-commerce giant Shopee has laid off around 200 employees in Indonesia, mostly from the customer services team. In the same month, Indonesia\u2019s biggest tech firm PT Goto Gojek Tokopedia announced another round of layoffs to streamline the organisation and boosting the company\u2019s profitability. In June, Singapore-based super app Grab Holdings has cut 1,000 jobs. Its Co-Founder and Chief Executive Officer Anthony Tan said fundamental step-changes in its operating model and cost structure are needed to build Grab\u2019s competitive moat for the longer-term. Last month, Malaysia-headquartered used car platform Carsome is said to have cut \u201chundreds of jobs\u201d to reach profit. Meanwhile, according to The startup data platform said in its \u201cGeo Annual Report: SEA Tech 2023\u201d, the tech startup ecosystem in Southeast Asia continues to face the effects of the funding winter, in line with other major economies. According to the report, companies in this space attracted late-stage funding worth $1.9 billion in 2023 year to date, a sharp decline of 65 percent from $5.4 billion raised in the same period in 2022. Early-stage funding stood at $1.9 billion in 2023 year to date, 67 percent lower than $6 billion raised in the same period in 2022. Seed-stage investments, too, fell 52 percent to $546 million from $1.14 billion raised in the same period in 2022. FinTech, enterprise applications, and retail were the top-performing segments in the tech startup ecosystem in 2023. Still, the FinTech sector received $2 billion in funding in 2023 till date, 65 percent lower when compared with the same period in the previous year. On the initial public offering (IPO) front, Southeast Asia has raised approximately $5.5 billion via IPO in the first 10.5 months of 2023, the lowest in eight years, audit and consulting firm Indonesia, Thailand and Malaysia collectively raised approximately $5.4 billion, accounting for 98 percent of the total funds raised across Southeast Asia. Deloitte, however, noted that Southeast Asian companies are thriving and have the ability to go beyond their shores for cross border IPOs. This is driven by expectations of favorable valuations, enhanced liquidity, industry comparability, and investor familiarity with certain sectors. The audit and consulting firm said stock exchanges across the globe are paying more attention to Southeast Asian companies and are establishing new initiatives or revamping existing ones to improve their appeal as gateways to attract these high growth businesses. As we usher into 2024, hoping for a better year, here are some of the top tech news in 2023:1. Temasek\u2019s VC Arm Vertex raises $900M in first round of new fund, plans to close in \u201ccoming months\u201d, says CEOTemasek\u2019s VC arm Vertex raises $900M in first round of new fund, plans to close in \u201ccoming months\u201d, says CEO2. China\u2019s TikTok To Invest $1.5B In Indonesia\u2019s GoToChina\u2019s Tik Tok to invest $1.5B in Indonesia\u2019s GoTo3. Singapore\u2019s Grab cuts 1,000 jobs to manage costs and stay competitive, says CEOSingapore\u2019s Grab cuts 1,000 jobs to manage costs and stay competitive, says CEO4. Indonesia\u2019s eFishery earns unicorn tag after raising Series D round \u2013 reportIndonesia\u2019s eFishery earns unicorn tag after raising Series D round \u2013 report5. J&T Express makes HKEX debut, raises $450M from global offering Indonesia\u2019s J&T Express makes HKEX debut, raises $450M from global offering6. YTL partners NVIDIA to build AI infrastructure In MalaysiaYTL partners NVIDIA to build AI infrastructure in Malaysia7. Vietnamese EV Maker VinFast debuts on NASDAQ after completing SPAC mergerVinFast and Black Spade complete business combination8. China\u2019s Meituan explores deal for Delivery Hero\u2019s Southeast Asia arm Foodpanda \u2013 report China\u2019s Meituan explores deal for Delivery Hero\u2019s Southeast Asia arm Foodpanda \u2013 report9. Singapore\u2019s Vertex Technology Acquisition Corporation to merge with streaming platform 17LIVE IncSingapore\u2019s Vertex Technology Acquisition Corporation to merge with streaming platform 17LIVE Inc10. Thailand expects Tesla, Google, Microsoft to invest $5B \u2014 reportThailand expects Tesla, Google, Microsoft to invest $5B \u2014 reportFeatured photo credit: Tracxn"}, {"url": "https://technode.global/2023/12/27/malaysias-livein-secures-8-3m-in-pre-series-b-funding-to-accelerate-regional-expansion/", "page": 4, "title": "Malaysia\u2019s LiveIn secures $8.3M in pre-Series B funding to accelerate regional expansion", "contents": "LiveInThe round was led by Wavemaker Partners and InterVest, with participation from Malaysia Debt Ventures Berhad (MDV), Jungle Ventures, and CAC Capital, LiveIn said in a statement on Wednesday. The firm opined that the latest funding serves as a testament to investors\u2019 unwavering confidence in its trajectory of growth and innovation. According to the statement, the funding will be used to fuel LiveIn\u2019s expansion into other key cities across the region. The latest funding also marks the beginning of LiveIn\u2019s next phase of strategic growth. It will facilitate the company\u2019s expansion in Thailand and entry into new markets Vietnam and Indonesia\u2013through organic growth and external acquisitions. The firm is set to enter two new markets, Vietnam and Indonesia, by 2024. The main goal is to advance LiveIn\u2019s vision by focusing on expanding its managed portfolio of affordable and quality homes and hiring the best talent, while maintaining a profitable business model. This new capital infusion solidifies LiveIn\u2019s position as a leading long-stay rental player in Southeast Asia. LiveIn will also expand to the Philippines in the future, reinforcing its commitment to providing pioneering solutions that align with its mission to address the urgent challenge of affordable housing for young people in densely populated markets in Southeast Asia. The company\u2019s innovative housing approach has made a tangible difference in the lives of many people, andBy introducing its solutions to these new markets, LiveIn aims to transform the lives of countless individuals and make a positive impact within these markets. \u201cOur team is energized by the recent injection of funds from our investors, \u201cIt is a clear indication of their confidence in our ability to penetrate new markets aggressively and address the needs of our existing markets,\u201d said LiveIn Co-Founder and Chief Executive Officer Keek Wen Khai.  \u201cWe are witnessing a massive surge in demand for affordable long-stay rentals, with young people seeking more autonomy and quality living spaces, \u201cThis new round of funding empowers us to direct more resources towards developing innovative service offerings that cater to the needs of our property owners and tenants, positioning them for success,\u201d he added. Founded by Khai and Joey Lim, LiveIn has gained recognition for its affordable yet quality long-term rental options offered through an online-to-offline platform. The company is on track to onboarding 10,000 rooms onto its platform while maintaining high occupancy rates in its existing markets, Malaysia and Thailand. Presently, the company boasts a team of 120 employees across Malaysia, Thailand, and Singapore. It is noted that LiveIn\u2019s unique approach to long-term property rentals has proven to be successful, boasting an impressive average occupancy rate of 90 percent in Malaysia and Thailand. This model not only generates higher rental income for property owners but also offers tenants access to affordable, quality furnished housing. Simultaneously, it ensures scalability and profitability for LiveIn. LiveIn has also streamlined its tenant onboarding process while enhancing its property management services such as fully furnished units, dedicated concierge services, and community events. The company is keen on introducing new service features and forging strategic partnerships to reinforce its market position. As part of its strategy, LiveIn aims to expand into new urban areas to meet the evolving needs of young urban residents. \u201cWe\u2019ve been truly impressed by Khai and Joey\u2019s genuine dedication to tackling a compelling problem in Southeast Asia through a business that\u2019s not only scalable but also generates profits,\u201d said Eric Manlunas, Co-founder and General Partner at Wavemaker Partners. According to him, despite the huge curveball that COVID threw, the team stayed committed to pushing their business forward. He said they used the crisis as an opportunity to gear up for expansion and they\u2019re now diving into more markets in the region. \u201cWith their deep experience in real estate, these founders developed a unique proptech model that makes life better for everyone involved\u2014whether it\u2019s the tenants, property owners, or the partners they work with, \u201cWe\u2019re eagerly anticipating the next milestones they will achieve with this new round of funding,\u201d he added. Simon Baek, Director at InterVest, said that he is amazed by the company\u2019s massive yet healthy growth over the past three years. \u201cThey\u2019ve not only achieved impressive organic growth with virtually no marketing efforts but have also created stable non-rental income streams,\u201d he said. According to him, the company has skillfully adapted its Malaysian business model for the Thai market, using a more localized approach. \u201cNow, they\u2019re gearing up to expand into larger cities such as Ho Chi Minh City and Jakarta, \u201cAlong with the acquisition of several smaller but failing competitors in the market, I\u2019m excited to see the potential for even more growth, spurred by this round of funding,\u201d he added. Malaysian PropTech firm LiveIn acquires property management firm KT Management"}, {"url": "https://technode.global/2023/12/26/corrective-aesthetics-partners-teda-technology-to-tackle-malaysias-rising-mental-health-crisis/", "page": 4, "title": "Corrective Aesthetics partners Teda Technology to tackle Malaysia\u2019s rising mental health crisis", "contents": "In response to the escalating mental health crisis in Malaysia, tech firms Corrective Aesthetics Sdn Bhd and Teda Technology Sdn Bhd have announced a groundbreaking collaboration to expand the Remind program, a mobile application that is designed to diagnose users\u2019 mental states through voice recordings. The Remind program, a wholly Malaysian-made and patented initiative, holds the potential to address the pressing mental health challenges faced by the nation, the duo said in a statement on Tuesday. By providing users with a user- friendly platform for self-assessment through voice recordings, the program empowers individuals to detect early signs of mental distress as well as depression at an early stage. The urgency of such a solution is underscored by the Malaysian Ministry of Health\u2019s long-standing concern aboutAccording to the statement, the Remind program aims to assist in early detection, provide early tailored intervention and advice, provide as well as guide sufferers on where to seek help. It said alarming police reports indicating an 81 percent increase in suicide cases from 631 in 2020 to 1,142 in 2021, with a doubling of cases among those aged 15 to 18, further emphasize the necessity for innovative solutions. Thus, the collaboration between Corrective Aesthetics and Teda Technology not only addresses the immediate mental health needs in Malaysia but also positions the Remind program for future launches overseas, starting from ASEAN countries. Corrective Aesthetics and Teda Technology are also dedicated to making a meaningful contribution to mental health care in Malaysia and beyond. \u201cOur joint effort reflects our dedication to supporting the community\u2019s well-being in the face of a deepening crisis,\u201d said Dr. Jest Wong, Managing Director at Corrective Aesthetics that head project umbrella. Meanwhile, Tee Teng Beng, Chief Operation Officer at Teda Technology, said that the collaboration underscores their commitment to leveraging technology for the betterment of society. \u201cTogether, we aim to make a positive impact on mental health outcomes,\u201d he added. Corrective aesthetic offers platform both physical store as well as information technology (IT) app in helping individuals to rediscover their self-wroth and embrace acceptance. Project umbrella is a campaign that provide screening as well as early intervention to help prevent but also supress mental health problem through a guiding principle of wanting to transform 10 million life by year 2030. Teda Technology is a leading technology solutions provider committed to leveraging cutting-edge technology to address societal challenges. Through strategic partnerships and innovative solutions, Teda Technology aims to contribute to the betterment of communities and individuals. Malaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion"}, {"url": "https://technode.global/2023/12/22/malaysias-tnb-partners-sime-darby-to-accelerate-sustainable-township-development-in-malaysia/", "page": 4, "title": "Malaysia\u2019s TNB partners Sime Darby to accelerate sustainable township development in Malaysia", "contents": "Malaysian utility firm Sealed through a Memorandum of Understanding (MoU), this partnership marks a significant leap towards advancing Malaysia\u2019s clean energy goals and cementing a commitment to a greener, more sustainable future, TNB said in a statement on Wednesday. As a prominent sustainable energy solution provider, TNB said the firm is spearheading sustainable energy solutions in township development by strategically partnering with industry leaders like Sime Darby. It noted that over a two-year period, the firm will focus on implementing diverse sustainable energy initiatives, including rooftop solar installations, electric vehicle (EV) charging infrastructure, and innovative microgrid solutions within Sime Darby Property\u2019s townships. It said this collaboration echoes TNB\u2019s dedication to pioneering sustainable energy solutions and Sime Darby Property\u2019s commitment to fostering environmentally conscious developments. It also said this endeavor supports Malaysia\u2019s clean energy objectives, aligning with the National Energy Transition Roadmap (NETR). It also signifies the commitment of government-linked companies (GLCs) to reducing their carbon footprint, it added. \u201cThis collaboration embodies our shared commitment to drive a sustainable energy transition, \u201cThrough this MoU, we aim to significantly contribute to Malaysia\u2019s clean energy objectives in line with the vision of achieving 70 percent renewable energy capacity by 2050,\u201d said TNB President and Chief Executive Officer Ir. Baharin Din.    According to the statement, this expanded partnership builds upon TNB\u2019s prior collaboration with Sime Darby Property in developing Smart Green Home solutions in Elmina Grove at the City of Elmina in Shah Alam, Selangor, emphasizing a mutual dedication to environmental, social, and governance (ESG) goals.  Expressing enthusiasm about the extended collaboration, Baharin stated this partnership is a testament to the firm\u2019s joint commitment to realizing Net Zero 2050 and implementing sustainable practices within our operations and communities. He said it cements TNB\u2019s leadership in facilitating a responsible energy transition and highlights our dedication to leveraging innovative solutions for a sustainable future. \u201cThe partnership between TNB and Sime Darby Property represents a significant stride towards cleaner energy in Malaysia, demonstrating our commitment to creating more eco-friendly towns, \u201cCollaboratively, we lead the way toward a greener future, set an example for sustainable development, and support Malaysia\u2019s goals for a cleaner environment,\u201d he added. Malaysia\u2019s TNB partners Perak state government to drive large-scale renewable energy initiatives"}, {"url": "https://technode.global/2023/12/22/bursa-malaysia-partners-ram-holdings-to-launch-new-debt-fundraising-platform/", "page": 4, "title": "Bursa Malaysia partners RAM Holdings to launch new debt fundraising platform", "contents": "Bursa Malaysia BerhadBursa Malaysia said in a statement that the platform is an alternative fund-raising avenue strategically designed to facilitate listed and unlisted small to mid-sized companies with fundraising needs of at least MYR 5 million ($1.08 milion) and a minimum tenure of one year, to raise funds via the issuance of credit-rated investment notes. This platform enables companies to access a new pool of capital beyond traditional wholesale markets, while also providing investors with the opportunity to diversify their portfolios. \u201cThe launch of BR Capital marks another milestone in our efforts to provide a comprehensive and diverse range of products and services to meet the evolving needs of our market,\u201d said Datuk Muhamad Umar Swift, Chief Executive Officer of Busa Malaysia Berhad. According to him, the BR Capital debt fundraising platform is very much in line with the Exchange\u2019s overarching strategy to truly be a multi-asset exchange. \u201cBursa Malaysia and RAM Holdings are excited to be collaborating to shape Malaysia\u2019s debt fundraising future. The new platform is poised to redefine the fundraising landscape and is well-positioned for expansion, to include a diverse investor ecosystem, \u201cThis will enhance financial inclusivity among Malaysians and contribute to the growth of Malaysia\u2019s capital market and the overall economy,\u201d he added.  Chris Lee, Group CEO and Executive Director of RAM, said that the firm is excited about what BR Capital can bring to the growth of sustainable and responsible investments in the Malaysian alternative capital market. \u201cRAM will contribute to this growth with our expertise in credit ratings, environmental, social, and governance reporting (ESG) ratings and fixed income pricing on investment notes issued through the new platform,\u201d he added.  The platform is currently in its initial roll-out phase, with onboarding now open to a select group of prospective issuers and investors. Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005, and has grown to be one of the largest bourses in ASEAN today. RAM is a leading provider of independent credit ratings, research, training, risk analysis, ESG analytics and bond pricing. Formerly known as Rating Agency Malaysia Berhad, RAM was established in November 1990 as a catalyst for the domestic debt capital market and as the nation\u2019s first credit rating agency. In 2007, its rating operations were novated to a newly formed subsidiary, RAM Rating Services Berhad. Apart from credit ratings, the RAM Group also offers myriad solutions ranging from economic and debt market research, data and analytics and sustainability services. In 2016, RAM Sustainability commenced offering Sustainability Ratings, a tool and framework that measure companies\u2019 ESG performance. Bond Pricing Agency Malaysia Sdn Bhd (BPAM) also became a wholly owned subsidiary of RAM on June 30, 2021. The company is the sole provider of bond-pricing and valuation data on the Malaysian bond market and is regulated by the Securities Commission Malaysia. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/12/22/tencent-cloud-unveils-latest-ai-solutions-in-malaysia/", "page": 4, "title": "Tencent Cloud unveils latest AI solutions in Malaysia", "contents": "Tencent CloudTencent Cloud said in a statement on Thursday that the move solidifies the company\u2019s commitment to driving innovation in the industry. According to the statement, Tencent Cloud has long-standing experience in developing and adopting AI technologies, which have an immense potential to enhance productivity, drive business agility, improve customer engagement, and accelerate product innovation. Leveraging its strong technological foundation and vast experience in serving billions of users, along with its ecosystem solutions and regional investments, Tencent Cloud aims to help enterprises succeed in their digital transformation by leveraging AI-powered cloud services with the commitments to boost customer growth, content and entertainment, development tools and security. In terms of customer growth, Tencent Cloud said the AI-powered cloud services empowers enterprises to reach and serve customers by establishing a closed loop from public domain customer acquisition to private domain operations, facilitating platform customer growth and retention. As for content and entertainment, the AI-powered cloud services provide comprehensive audio and video solutions, cloud rendering solutions, avatar products, and intelligent tools to facilitate image and video content creation. For development tools, it said the AI-powered cloud services offer convenient development environments and tools to enhance collaboration efficiency, maximize resource utilization, and reduce operation and maintenance costs for enterprises. In terms of security, it said the AI-powered cloud services delivers end-to-end security protection products and solutions, ensuring a holistic approach to safeguarding systems and providing a comprehensive security shield. Tencent Cloud also highlighted its AI Digital Human, a next-generation multi-modal human-computer interaction system capable of creating intelligent, visual, and interactive \u201cdigital avatars\u201d in Malaysia.  This technology leads the intelligent upgrade of enterprise services, facilitates digital intelligence transformation, and improves communication efficiency and services for enterprises. Introduced in 2022, Tencent Cloud Media Services presented a comprehensive media solution that fosters seamless connectivity among enterprises, users, developers, and all facets of the \u201cImmersive Convergence\u201d era. The media services cater to diverse domains such as online education, enterprise collaboration, e-commerce, pan-entertainment, online healthcare, and finance, enabling customers to deliver real-time and captivating audience experiences on a global scale. It is noted that Tencent Cloud offers a comprehensive suite of platform as a service (PaaS) and application platform as a service (aPaaS) offerings, including Media Processing Service (MPS), Tencent Real-Time Communication (TRTC), Content Delivery Network (CDN), Beauty AI/AR or Tencent Effect SDK, Cloud Streaming Services, Tencent Cloud Online Video Platform (TOVP), Tencent Cloud Chat, and Video on Demand. These cutting-edge products empower businesses to leverage the full potential of media and harness the benefits of Tencent\u2019s advanced technologies. Furthermore, Tencent Cloud said the firm is capable of providing private development via Tencent Cloud Enterprise (TCE) solutions and hybrid cloud via its Cloud Dedicated Zone (CDZ), in addition to its current public cloud offerings. These services and solutions\u2019 high security and reliability are proven to comply with international standards, as indicated on Tencent Cloud\u2019s certifications in Singapore\u2019s Personal Data Protection Act (PDPA) and Outsourced Service Provider\u2019s Audit Report (OSPAR), among many others globally. It is noted that in Malaysia, Tencent Cloud has supported Global Resource Management (GRM) in establishing a dedicated GRM integrated data center (IDC), which is expected to be officially launched by the end of 2023. This collaboration has brought Tencent Cloud\u2019s technological expertise to Malaysia, helping to accelerate the digital transformation journey across various industries. \u201cFueled by our dedication to bringing AI-enabled innovations that can address complex business challenges and empower partners for future success, Tencent Cloud will continue to invest in technology enhancements,\u201d said Ken Siow, General Manager of Tencent Cloud Singapore and Malaysia. Tencent Cloud is a cloud firm committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through its extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, big data analytics, AI, internet of things (IoT) and network security. Tencent Cloud launches inaugural Web3 Product Tencent Cloud Blockchain RPC for developers & enterprises "}, {"url": "https://technode.global/2023/12/20/tnglobals-top-10-most-read-news-articles-in-2023/", "page": 4, "title": "TNGlobal\u2019s Top 10 most-read news articles in 2023", "contents": "The year of 2023 has generally looked less rosy with more uncertainties as compared to 2022 as economic growth slowed down in many parts of the world. The baseline forecast is for global growth to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024, well below the historical (2000\u201319) average of 3.8 percent, according to the International Monetary Fund (IMF). Advanced economies are expected to slow from 2.6 percent in 2022 to 1.5 percent in 2023 and 1.4 percent in 2024 as policy tightening starts to bite. Emerging market and developing economies are projected to have a modest decline in growth from 4.1 percent in 2022 to 4.0 percent in both 2023 and 2024, the IMF said in its \u201cThe global recovery from the COVID-19 pandemic and Russia\u2019s invasion of Ukraine remains slow and uneven. Despite economic resilience earlier this year, with a reopening rebound and progress in reducing inflation from last year\u2019s peaks, it is too soon to take comfort. Economic activity still falls short of its pre-pandemic path, especially in emerging market and developing economies, and there are widening divergences among regions,\u201d it added. The global wave of layoffs hitting US tech companies like Meta, Amazon, and Twitter has also come to Southeast Asia amid a slowdown in fundraising activities for tech startups. Tech companies including venture capital-backed startups in Southeast Asia have also announced layoffs and austerity measures to cope with the uncertain macroeconomic situation. In March, it was reported that e-commerce giant Shopee has laid off around 200 employees in Indonesia, mostly from the customer services team. In the same month, Indonesia\u2019s biggest tech firm PT Goto Gojek Tokopedia announced another round of layoffs to streamline the organisation and boosting the company\u2019s profitability. About 600 roles will be affected, the company said then, following 1,300 jobs that were cut in late-2022. Last month, it was reported that TikTok parent ByteDance will cut 1,000 gaming jobs in strategic shift. In the same month, Malaysia-headquartered used car platform Carsome is said to have cutting \u201chundreds of jobs\u201d to reach profit. On the other hand, according to Traxcxn, the Southeast Asia tech sector received a total funding of $4.3 billion in 2023 year to date (till Dec 5, 2023), a 65 percent plunge from $12.4 billion raised in the same period last year. The global software as a service (SaaS)-based market intelligence platform said in its \u201cCompanies in this space attracted late-stage funding worth $1.9 billion in 2023 year to date, a sharp decline of 65 percent from $5.4 billion raised in the same period in 2022. Meanwhile, early-stage funding stood at $1.9 billion in 2023 year to date, 67 percent lower than $6 billion raised in the same period in 2022. Seed-stage investments, too, fell 52 percent to $546 million from $1.14 billion raised in the same period in 2022. Still, the FinTech sector received $2 billion in funding in 2023 till date, 65 percent lower when compared with the same period in the previous year. As we usher into the new year, here are the Top 10 most-read news article of 2023 on Breakeven is near for Malaysian unicorn Carsome, says CEO Eric ChengGermany\u2019s Infineon invests up to $5.46B to build largest 200-millimeter SiC Power Fab in MalaysiaJaya Grocer launches membership program integrated with GrabFutu launches trading platform Moomoo in MalaysiaGrab launches intercity travel service in Malaysia and SingaporeChina\u2019s Meituan explores deal for Delivery Hero\u2019s Southeast Asia arm Foodpanda \u2013 reportMoMo partners with Western Union for money transfer in VietnamSingapore\u2019s ShipsKart raises $2.7M Series A funding led by TMV and Hermes OffshoreION Mobility closes $18.7M Series A funding, brings TVS Motor Company on board as strategic investorCarsome refutes funding bid from government; says its liquidity position remains robust at over $150MTNGlobal\u2019s Top 10 most-read analysis & feature articles in 2023"}, {"url": "https://technode.global/2023/12/19/ihi-partners-gentari-to-develop-global-green-ammonia-value-chain/", "page": 5, "title": "IHI partners Gentari to develop global green ammonia value chain", "contents": "Japanese engineering firm Gentari said in a statement on Monday that IHIand Gentari Hydrogen Sdn Bhd, a wholly-owned subsidiary of Gentari have announced the signing of a memorandum of understanding (MoU) that will see the two parties deepening their collaboration to further develop the hydrogen industry. Under this MoU, IHI and Gentari will jointly explore the establishment of a global green ammonia value chain which spans the production, transportation, storage and utilization of green ammonia in Asia Pacific and other areas of mutual interest. Additionally, the parties will also explore progressing the commercial utilization of IM270, a fully ammonia-powered gas turbine, developed by IHI with support from Japan\u2019s New Energy and Industrial Technology Development Organization (NEDO). Anticipating commencement by 2026, this commercial demonstration could potentially be the world\u2019s first fully ammonia-powered gas turbine to be deployed. With this collaboration, IHI and Gentari aim to create demand for green ammonia in Malaysia and the broader Asia Pacific, accelerating the adoption of clean hydrogen as a viable energy transition lever, in line with Malaysia\u2019s National Energy Transition Roadmap and Hydrogen Economy and Technology Roadmap as well as the region\u2019s net zero aspirations. Asahi Kasei, Gentari, and JGC team up for green hydrogen production in Malaysia"}, {"url": "https://technode.global/2023/12/18/jcb-idemia-and-soft-space-launch-jcbdc-phase-2-pilot-to-trial-cbdc-offline-p2p-payments/", "page": 5, "title": "JCB, IDEMIA and Soft Space launch \u201cJCBDC\u201d phase 2 pilot to trial CBDC offline P2P payments", "contents": "Japan\u2019s international payment brand The trio said in a recent statement that in phase 1 of the JCBDC project, JCB, IDEMIA, and Soft Space developed a central bank digital currency (CBDC) payment solution, enabling merchants to accept CBDC without the need to modify their point of sale (POS) terminals and payment cards. This solution was successfully piloted in Tokyo in 2023, which has enabled JCB, IDEMIA, and Soft Space to proceed to the next phase of the project.  In Phase 2 of the JCBCD project, customers will be able to transfer CBDC funds from one person to another person using their cards and mobile phones even without Internet connectivity. These offline P2P (peer-to-peer) fund transfers can either be done from one card to another with a mobile NFC device as an intermediary, or from one mobile near-field communication (NFC) device to another mobile NFC device directly. This project is compliant with the open White Label Alliance (WLA) payment standard and using secure elements to ensure optimal security.  In one option, consumers can send CBDC funds offline by tapping one person\u2019s card to another person\u2019s mobile NFC device. Then another person can tap their card to their mobile NFC phone to receive CBDC funds. Such a stored-value card (SVC) is used to securely store and transfer offline CBDC funds, thus acting as a digital version of cash in lieu of paper banknotes. Another option for consumers is to transfer CBDC funds offline by tapping their mobile NFC device to another person\u2019s mobile NFC device. Both payer\u2019s and payee\u2019s mobile NFC devices operate off the network when CBDC funds are sent and received.  For this project, IDEMIA and Soft Space provided the tokenization back-end server, mobile wallet application, card application and SoftPOS solution, as well as all necessary application programming interfaces (APIs) and software development kits (SDKs) for system and application integration purposes. The project uses IDEMIA\u2019s protocol, the industry standard for Offline CBDC Payments, and leverages on Soft Space\u2019s expertise in contactless payments. This JCBDC project is aimed at ensuring that CBDC fund transfers can be done securely and conveniently, by anyone, at any time, with or without Internet connectivity, with an immediate guarantee of fund availability. JCB, IDEMIA and Soft Space will implement the second phase of the project and conduct a pilot in early 2024. \u201cIt gives me great honor to announce our collaboration with IDEMIA and Soft Space on this Phase 2 project continuing from Phase1, \u201cThis project proves that we can use offline P2P funds transfer for new CBDC payment systems, which is a huge benefit for consumers in wide range of generations. \u201d said Koremitsu Sannomiya, Board Member, Senior Executive Officer of JCB. Meanwhile, Romain Zanolo, IDEMIA Managing Director for Asia Pacific (APAC) Payment Services, said that this project highlights IDEMIA\u2019s expertise and capacity for innovation in terms of CBDCs. \u201cWe are convinced that allowing the public to transfer funds offline either with their contactless card or with their mobile phone will give them a great flexibility of choice,\u201cWith this new phase, we continue to build on the expertise gained from previous successes with central banks across the world,\u201d he added. Joel Tay, Chief Executive Officer of Soft Space, said that the firm is delighted that phase one of the project has been successful, leveraging on existing technologies that JCB already utilizes, such as its contactless Europay, Mastercard and Visa (EMV) technologies and Tap on Mobile SoftPOS. \u201cIn phase two, we will also evaluate host card emulation (HCE) and various other offline scenarios we are developing with JCB to further develop more real-life use cases aimed at ensuring that the eventual CBDC solution we implement will be of practical use in society,\u201d he added. JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. The firm launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 43 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 154 million cardmembers. As the leader in identity technologies, IDEMIA\u2019s mission is to unlock the world, make it safer, backed by cutting-edge research and development (R&D) and a long-standing expertise in biometrics and cryptography. With nearly 15,000 employees, IDEMIA is used by over 600 governmental organizations and more than 2,300 enterprises spread over 180 countries. Founded in 2012, Soft Space is a fintech firm serving over 80 financial institutions and partners across 30 global markets. The firm offers both merchants and consumers a range of solutions, such as contactless payment through mobile devices as well as comprehensive white-label e-wallet services. Soft Space, Hong Leong Bank and JCB expand JCB card acceptance in Malaysia"}, {"url": "https://technode.global/2023/12/15/ey-over-half-of-malaysian-employees-feel-generative-ai-will-positively-impact-their-work/", "page": 5, "title": "EY: over half of Malaysian employees feel generative AI will positively impact their work", "contents": "More than half (63 percent) of employees in Malaysia anticipate that generative artificial intelligence (GenAI) will improve their way of working flexibly, exceeding the global average of 48 percent, According to the EY 2023 Work Reimagined Survey, 70 percent (global 49 percent) of them noted that they are either currently using or planning to use GenAI in the next 12 months. While GenAI potential is still being realized, there is growing momentum and a generally positive outlook on how the technology will impact new ways of working. Malaysian employers, too, mirror these sentiments, with 84 percent (global 67 percent) expecting GenAI to enhance working flexibly with 96 percent (global 84 percent) either currently using or planning to use the technology within the next year. However, despite both employees and employers ranking learning and skills as the number one factor to ensure employees thrive in new ways of working, only 22 percent of Malaysia employers (global 22 percent) plan to provide training on GenAI-related skills. \u201cIt is encouraging to witness the increasing awareness among Malaysian employees and employers on the potential benefits of using GenAI in the workplace,\u201d said Low Choy Huat, EY Asean People Advisory Services Leader and Partner, Ernst & Young Consulting Sdn Bhd. \u201cWhile there is an intention among employers to incorporate GenAI in the near future, there is a substantial gap in upskilling and reskilling the workforce in the technology, \u201cIt is imperative to accelerate the training of essential skills to build Gen AI capabilities, while fostering the ethical and responsible use of it in the workforce,\u201d he said. The EY 2023 Work Reimagined Survey, fourth in the series, canvassed the views of 17,050 employees and 1,575 employers across 22 countries and 25 industry sectors globally. These include 250 employees and 50 employers from Malaysia. YTL partners NVIDIA to build AI infrastructure in Malaysia"}, {"url": "https://technode.global/2023/12/14/standard-chartered-17b-in-retail-investor-capital-could-be-mobilized-to-combat-climate-change-in-malaysia/", "page": 5, "title": "Standard Chartered: $17B in retail investor capital could be mobilized to combat climate change in Malaysia", "contents": "Standard CharteredThe bank said in a statement on Thursday that within climate investing in Malaysia, $9 billion could flow into mitigation themes \u2013 renewables, energy efficiency and storage are set to attract the most capital. Meanwhile, $8 billion could be mobilized towards adaptation including resilient infrastructure, biodiversity, and food systems. The survey also showed 93 percent of investors in Malaysia are interested in climate investing, and 83 percent of them want to increase capital flows towards climate. They are mainly motivated by social norms, personal values, wanting to improve investment returns and to reduce portfolio risks. However, multiple barriers, which vary by investor segments, are holding them back from translating their interest into investment. 66 percent citing comprehensibility and 63 percent noting comparability as significant challenges in climate mitigation and adaptation investments. Standard Chartered said these findings demonstrate how the industry plays a critical role in helping investors overcome these barriers to unlock potential of retail capital. It said a concerted effort is required by financial institutions, regulators, companies, and individuals, to establish a wider range of climate assets to drive greater retail participation. The report also shows the need of clear action from asset managers and banks to work towards innovating new climate assets to match emerging investor interests, such as biodiversity and the blue economy. It also sees the need for financial institutions to mobilize retail capital via three pillars \u2013 empowering investors with information, product customization and outcome-based information. It also sees the need for digital and fintech solutions to play an enabling role and simplify processes for investors. The industry across the world is also needed to align reporting standards and mandate minimum disclosure requirements to boost investor confidence. \u201cFinancing presents both a critical challenge and opportunity in combatting climate change, \u201cOur research reveals that comprehensibility is a common barrier among Malaysian investors, drawing attention to the need for the industry to empower investors with information about climate investing and debunk common myths,\u201d said Sammeer, Managing Director and Head of Consumer, Private and Business Banking at Standard Chartered Malaysia. In overcoming the current disconnect between investor interest and the scale of climate investments, he said the industry needs to improve access to solutions, harmonize reporting standards and measurement of impact. The research \u2013 based on investor interest from a survey of 1,800 respondents in ten growth markets across Asia, Africa and the Middle East \u2013 identifies a global potential of $3.4 trillion for climate investing, highlighting the power of individuals to combat climate change. WWF, BCG, and Think City launch regional initiative for nature-based solutions, climate analytics and AI"}, {"url": "https://technode.global/2023/12/14/careplus-partners-goauto-to-set-up-ev-plant-in-malaysia/", "page": 5, "title": "Careplus partners GoAuto to set up EV plant in Malaysia", "contents": "Malaysia-based glovemakerCareplus said in a statement on Thursday that the duo are exploring areas related to the EV industry. According to the statement, a collaboration has been agreed between the two parties in the importation and distribution of the NETA electric car, and assembly of multi-model new energy vehicles through a planned manufacturing and assembly plant in Kawasan Perindustrian Chembong, Rembau, Negeri Sembilan. According to Go Auto Group Chairman SM Azli SM Nasimuddin Kamal, phase one of the project involves the development of an assembly plant, expected to begin in the first quarter of 2024. Meanwhile, phases two and three will begin in 2026 and 2028 respectively, he said. He also explained that the new plant will not only assemble vehicles with the NETA brand but is also open to other EV brands that intend to assemble locally when the plant is ready. Careplus also on Thursday launched Careplus Mall which is established to provide EV networks with fast charging stations, TVET training, solar panel solutions for home and commercial use, and sports and entertainment infrastructure for the family. Careplus Chief Executive Officer Lim Kwee Shyan said that the firm is now exploring potential business in green technology and renewable energy areas, including solar equipment and EVs. According to him, Careplus Mall currently has a sales, service, spare parts and body repairs (4S) for EVs for the NETA brand, and equipment for solar panel solutions for home and commercial applications. It also includes several relevant businesses, such as GENTARI that will install six fast charging station with capacities between 180-250kW, that is expected to be ready by the second quarter of 2024, he added. Careplus is a firm involved in latex glove industry for more than 35 years. To date, its production capacity reached 5.32 billion units per annum, with various glove types such as latex examination dan surgical gloves. Today, the firm has four latex glove plants, all located in Negeri Sembilan. Careplus was listed in Bursa Malaysia\u2019s ACE Market on in December 2010. The firm transferred all company shares from ACE Market to the Bursa Securities Main Board in 2021. In 2023, Careplus officially joined new businesses based on green and renewable technology, developed with business partners GoAuto Group. Established in 2013, GoAuto\u2019s core business centers on automotive products \u2013 where the company is actively involved in manufacturing, assembly, sales, distribution, after sales services and spare parts in various vehicle segments such as passenger vehicles, commercial vehicles, motorcycles, special vehicles, and EVs. The GoAuto Group also supplies vehicles for government and GLC use. The group is also an exclusive distributor of electric vehicles for passenger and commercial vehicle brands NETA, HIGER and YUTONG. Malaysia\u2019s Careplus diversifies its business to electric vehicles "}, {"url": "https://technode.global/2023/12/13/securities-commission-malaysia-introduces-accelerated-transfer-of-listing-from-ace-market-to-main-market-for-eligible-companies/", "page": 5, "title": "Securities Commission Malaysia introduces accelerated transfer of listing from ACE Market to Main Market for eligible companies", "contents": "The The framework will take effect on January 1, 2024 through amendments to the Equity Guidelines, SC said in a statement. According to the statement, the accelerated transfer of listing is part of a slew of capital market measures introduced by the SC to improve stock market vibrancy and reduce market friction. The SC Chairman Awang Adek Hussin said the ACE Market has remained a significant source of financing within the Malaysian equity capital market, with 20 ACE Market listings raising MYR 1.26 billion ($270 million) through initial public offerings as of October this year. \u201cThis accelerated transfer process will benefit sizeable, qualified ACE Market public limited companies (PLCs) by accelerating the transfer to the Main Market for greater visibility and access to a larger pool of investors, including foreign and institutional investors,\u201d he said. According to the statement, transferring to the Main Market, which is the prime market for established companies, demonstrates that the ACE Market PLCs have achieved the standards in terms of quality, size and operations. It noted the newly simplified and accelerated transfer process should incentivize more companies listed on the ACE Market to make continuous efforts to improve their corporate values and achieve sustainable growth for shareholders. Under the new accelerated transfer process, it said an ACE Market PLC must, among others, have a daily market capitalization of at least MYR 1 billion ($210 million) for the past six months, and meet the profit requirements for companies seeking listing on the Main Market. SC, a statutory body reporting to the Minister of Finance in Malaysia, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets in Malaysia. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Capital Markets and Services Act 2007. SC Malaysia to introduce streamlined transfer of listing to encourage more exit options"}, {"url": "https://technode.global/2023/12/11/drb-hicom-geely-form-joint-venture-to-develop-the-automotive-hi-tech-valley-in-malaysia/", "page": 5, "title": "DRB-Hicom, Geely form joint venture to develop the Automotive Hi-Tech Valley in Malaysia", "contents": "Malaysia-based conglomerate DRB-Hicom said in a statement on Monday that this follows the recent master collaboration agreement signed in October 2023, which had set forth the underlying principles, governance framework, and mutual commitment for the AHTV project. The joint venture agreement outlines the key principles of the strategic collaboration, alignment on objectives, and terms of the partnership. A joint venture company will leverage on the respective strengths and expertise of DRB-HICOM and Geely Holding in establishing AHTV as the international next generation vehicle hub in Malaysia. According to the statement, AHTV will encompass extensive automotive and mobility solutions across the value chain, from a full-fledged high technology global research and development center, to world-class automotive original equipment manufacturers and manufacturing clusters. In addition, it would support services within an associated ecosystem, such as logistics, training and learning institutions within a smart city for the automotive industry. DRB-Hicom said in earlier statements that the project is targeted as a hub to attract investments to the tune of MYR 32 billion ($6.83 billion) from multiple global parties over a ten-year development period. AHTV will also receive direct and indirect benefits from DRB-Hicom and Geely-owned automaker Proton\u2019s plan to fully relocate its manufacturing facilities to Tanjong Malim by 2026. Proton currently produces five models in AHTV and another two models in Shah Alam, Selangor. AHTV will also include a research-based university to nurture new talents and development in areas of new and emerging technologies for the industry and the automotive sector in general. It will also house a research and development (R&D) center that will provide carmakers with a tropicalized setting to test their vehicles.  DRB-Hicom believes that AHTV is the right move forward Malaysia in the new automotive technology space, and the inclusion of multiple global investors augurs well for the domestic industry and economy, as well as adding value to the Malaysian automotive landscape. DRB-Hicom is one of Malaysia\u2019s leading group of companies with core businesses in the automotive, aerospace and defense, banking, postal, services, and properties sectors. DRB-Hicom has 84 active companies in its stable with more than 45,000 employees group-wide. In the automotive sector, the firm is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. In aerospace and defense, the firm is involved through its subsidiaries CTRM and DEFTECH, while it is represented in the postal segment through its subsidiary Pos Malaysia, and banking through Bank Muamalat. In the services segment, DRB-Hicom is involved in various businesses, including concession, education, aviation and logistics and investment holdings whereas in properties, the firm is involved in the development of industrial properties. Geely is a Chinese multinational automotive company headquartered in Hangzhou, Zhejiang. Its flagship brand, Geely Auto, has launched several new energy vehicles (NEVs), including the intelligent luxury electric vehicle (EV) brand Zeekr. The company has also invested in a range of battery technologies and has a dedicated new energy division which is focused on developing and producing NEVs, and has announced plans to launch more than 30 new energy models across its brands by 2025. Malaysia\u2019s DRB-Hicom and China\u2019s Geely set framework for development of Automotive Hi-Tech Valley"}, {"url": "https://technode.global/2023/12/10/zetrix-and-beitou-launch-digital-id-and-drivers-license-services-on-blockchain/", "page": 5, "title": "Zetrix and Beitou launch digital ID and driver\u2019s license services on blockchain", "contents": "Zetrix, a layer 1 public blockchain platform of Malaysia-based MY E. G. said in a statement that this innovative solution addresses the challenges of traditional paper-based credentials, offering a range of benefits that will transform the way individuals, organizations, and governments interact in the digital realm.\tThe launch marks the commercialization of the collaboration announced on September 18, 2023 between Malaysia\u2019s MY E. G. Services Berhad and China\u2019s state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd (Beitou), the information technology (IT) arm of Guangxi Beibu Gulf Investment Group listed as one of China\u2019s Top 500 enterprises. According to the statement, the service initially will be offered to domestic China nationals who can choose to digitize their national ID or driving license as a verifiable credential (VC) on Xinghuo International, the international gateway for China\u2019s national Public Blockchain. Through Zetrix, which is integrated with Xinghuo, the national ID or driving license VC can then be presented abroad to be authenticated by any verifier wishing to verify the relevant identity or driving license data according to their needs. Beitou IT\u2019s integration to China\u2019s nationwide police and transport department databases ensures seamless authentication and digitization of the documents into VCs. Furthermore, in view of the immutability of blockchain, verifiers will have the assurance of knowing that the VCs and all data contained in the document are true and genuine. It is foreseen that besides IDs and driving licenses, other important credential documents held by individuals or businesses would also be digitized as VCs in the near future. According to MY E. G. , the use of digital credentials, with the initial pilot of driving licenses based on blockchain technology will significantly enhance security and combat counterfeiting of electronic licences. By leveraging on thesSelf sovereign identity (SSI) framework, Zetrix\u2019s Digital Credentials platform enables the real time verification of documents digitized as VCs, providing a robust defense against fraud and forgery. \u201cIn addition to ensuring authenticity, documents digitized as VCs offer the ability for selective disclosure or confirmation of data. For instance, document holders can have their age or their home location verified without actually having to provide their date of birth or full address,  \u201cThis is extremely useful as it protects raw user data from being shared unless absolutely necessary, thus reducing the possibilities of cyber attacks,\u201d explained TS Wong, Founder of Zetrix. Lai Shuiping, Chairman of the Board of Guangxi Beitou IT Innovation Investment Group Co. ,Ltd, Lai Shuiping, said the China-ASEAN digital driving license cross-border verification platform is jointly developed by Beitou IT and MYEG. \u201cThe platform will continue to expand into providing more convenient services for communication between citizens of China and ASEAN countries, and promote economic development across the entire region,\u201cIn future, Beitou IT will further strengthen cooperation with Malaysian enterprises in the field of transportation digitalization, and promote continuous improvement of intelligent transportation in ASEAN countries,\u201d he added. According to the statement, Zetrix\u2019s digital credentials platform also leverages a multi-chain e-wallet that is able to store Zetrix\u2019s native tokens as well as VCs from Xinghuo International and Ethereum. This feature facilitates seamless cross chain transactions and simplifies identity and document verification across multiple scenarios, enhancing the experience for travelling individuals. It is also noted that the digital credentials service exemplifies the World Wide Web Consortium (W3C) standards of VCs and decentralized identifiers as self-sovereign identity. This will be a key catalyst to enable a greater interoperability across blockchains and decentralized applications. Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Its cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E. G. , the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as blockchain-based identifiers (BID) and VCs. Beitou IT stands as a wholly owned subsidiary of Beibu Gulf Investment Group, boasting total assets exceeding RMB 300 billion. Established in October 2020 with a registered capital of RMB 1 billion ($140 milion), Beitou IT has emerged as the foremost digital company in Southwest China. Beitou IT strategically concentrates on four primary business domains: ITAI project implementation and operation, information technology (IT) product research and development (R&D), integration and sales, and the development of New Infrastructure. Over the past three years, Beitou IT has successfully undertaken numerous government and enterprise-level projects encompassing digital government, digital transportation, digital port, smart court, and enterprise digitalization. Malaysia\u2019s MY E. G. blockchain unit Zetrix launches cross border supply chain financing pilot with Chinese banks\t"}, {"url": "https://technode.global/2023/12/08/ytl-partners-nvidia-to-build-ai-infrastructure-in-malaysia/", "page": 5, "title": "YTL partners NVIDIA to build AI infrastructure in Malaysia", "contents": "Malaysian utility firm YTL said in a statement that the firm will deploy NVIDIA H100 Tensor Core GPUs, which power today\u2019s most advanced AI data centers, and use NVIDIA AI Enterprise software to streamline production AI. It is noted that NVIDIA AI Enterprise includes NVIDIA NeMo, an end-to-end, cloud-native framework for building, customizing, and deploying generative AI models from anywhere. It is also noted that NVIDIA H100 GPUs deliver industry-leading generative AI and can speed up large language models (LLMs) by an incredible 30 times compared with the previous-generation GPUs. According to the statement, the AI infrastructure will be hosted in the YTL Green Data Center Park in Kulai, Johor (Southern region of Malaysia), a 500 MW facility developed by YTL that will be uniquely powered by an equivalent amount of on-site solar energy. YTL Communications Sdn Bhd, the telecommunications subsidiary of YTL, will own and manage the AI infrastructure that will provide AI computing services to the nation. It is learnt that YTL Communications owns and operates a national mobile network and was the first to offer 4G and 5G services in the country under its \u201cYes\u201d brand. According to the statement, the AI infrastructure will provide the foundation for scientific research and the development of solutions and applications that will accelerate Malaysia\u2019s progress towards becoming an AI nation. YTL will not only provide green, energy-efficient AI infrastructure to scientists, developers, and startups across the nation, it will also create AI-specific applications and services for its customers. YTL also plans to use NVIDIA NeMo to customise and deploy a Malay language foundation model that will be sensitive to Malaysia\u2019s multi-cultural heritage. The YTL Group\u2019s deep experience and expertise in infrastructure development will enable the rapid rollout of AI data centers, with the first phase expected to be operational by mid-2024. \u201cThis collaboration with NVIDIA comes at an opportune time. In the 12 months since the launch of ChatGPT, we have seen how AI is changing the way we work, live, and learn, \u201cHaving our own supercomputing infrastructure and the ability to train talent locally will accelerate Malaysia\u2019s advancement towards being a top AI nation,\u201d said Yeoh Seok Hong, Managing Director of YTL Power International. According to him, this will be the foundation for a digital economy powered by innovative solutions and applications built on the firm\u2019s very own sovereign large language model (LLM). \u201cThis collaboration with NVIDIA is poised to bring many benefits to the nation. Our green data centers and low energy solutions are an ideal fit to be used with their high-performance supercomputers, \u201cWe are excited to begin this journey to bring our nation to the forefront of AI development,\u201d he added. Raymond Teh, Senior Vice President of the Asia-Pacific region at NVIDIA, said that Malaysia is embracing AI to enhance jobs, drive competitiveness, and supercharge innovation. \u201cThis collaboration will help deliver advanced AI computing infrastructure to enable Malaysia to build its own LLMs and power the country\u2019s next wave of generative AI applications,\u201d he added. Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (Miti), said that by offering supercomputing cloud services and leveraging AI to power innovations, such partnerships enhance Malaysia\u2019s economic complexity, paving the way for the country to become a high technology and high-income nation while further positioning Malaysia as a top investment destination. \u201cWe welcome partnerships such as the one between YTL and NVIDIA, exactly the kind of strategic collaborations targeted by our New Industrial Master Plan 2030,\u201d he added. Malaysian Investment Development Authority (MIDA) Chief Executive Officer Arham Abdul Rahman also applauds the unwavering commitment of YTL to embrace and invest in cutting-edge technology, through partnership with NVIDIA. \u201cIn an era fuelled by technological advancements, it is truly commendable to witness YTL\u2019s pivotal role in developing a robust data infrastructure, \u201cThis initiative not only underscores YTL\u2019s dedication to innovation, but more importantly, contributes towards advancing our local business ecosystem technologically,\u201d he added. YTL is an international multi-utility infrastructure developer listed on the main board of Bursa Malaysia. In addition to its physical infrastructure assets, YTL is developing a new generation of digital infrastructure underpinned by its subsidiary YTL Data Centers which is developing 500MW of hyperscale data center capacity on a 1,640 acre site in Johor, the first data center park in Malaysia to be powered by adjacent on-site solar energy. YTL is also involved in mobile communications and internet-based services through YTL Communications Sdn Bhd \u2013 the operator of the \u201cYes\u201d telecommunications platform. In March 2023, Yes along with Nvidia, launched Nvidia\u2019s GeForce NOW cloud gaming service to its customers. YTL alongside its partner Sea Ltd. was granted a digital banking licence by Bank Negara Malaysia in April 2022. This digital bank is expected to be operational in 2024. YTL owns Wessex Water Limited, a water and sewerage provider in the United Kingdom, and YTL PowerSeraya Pte Limited, Singapore\u2019s second largest power producer with a total licensed capacity of 3,100 MW. YTL\u2019s projects under development include the development of Brabazon, Bristol, a mixed use residential and commercial property project in the United Kingdom. US-based NVIDIA partners Taiwan\u2019s Foxconn to build factories and systems for the AI industrial revolution"}, {"url": "https://technode.global/2023/12/08/asean-reinsurance-working-committee-inks-mou-to-establish-asean-renewable-energy-pool/", "page": 5, "title": "ASEAN Reinsurance Working Committee inks MOU to establish ASEAN renewable energy pool", "contents": "The The ideation on the formation of AREP was initially proposed by Malaysian Reinsurance Berhad \uff08Malaysian Re), Chair of the ARWC for the 2021-2022 term, during the 4th ARWC meeting on October 15, 2021 as a facility or pool to support the ASEAN governments\u2019 renewable energy policies, Malaysian Re said in a statement on Friday. \u201cGiven the potential challenges in respect of the capacity and expertise in environmental, social, and corporate governance (ESG)/renewable energy and the complexity of the solar, wind, and other renewable energy resources, the inherent financial risk associated with these ventures can be potentially overwhelming for one insurance company to manage effectively, \u201cTherefore, there is a need for a group of companies to pool their resources and band together to form an insurance pool to underwrite the risks associated with these renewable energy sources\u201d said Ahmad Noor Azhari Abdul Manaf, President and Chief Executive Officer of Malaysian Re. The MOU signed at the 26th ASEAN Insurance Regulators\u2019 Meeting & 49th ASEAN Insurance Council Meeting indicates joint commitment from the participating ARWC Members under the supervision of AIC, to collaborate, work together and lead ASEAN (re)insurance industry to support ASEAN countries\u2019 effort to achieve net zero emission target and deal effectively with climate change. The participating ARWC Members for this collaboration are Malaysian Re (as Pool Manager), PT Reasuransi Indonesia Utama (Persero) (Indonesia Re), Vietnam National Reinsurance Corporation(VINARE), Cambodian Reinsurance Company (Cambodia Re), Thai Reinsurance Public Company Limited(Thai Re) and National Reinsurance Corporation of the Philippines (Nat Re). Malaysian Re is the largest national reinsurer (by gross written premium and asset) in the ASEAN region. The reinsurer underwrites all classes of general reinsurance business as well as general and family retakaful businesses through its retakaful division. Leveraging on its breadth and depth of experience and expertise, excellent ratings and proven record of accomplishment, Malaysian Re has grown in stature as an international player having established a strong market presence in Asia Pacific and the Middle East with an emerging footing in Europe. Malaysian Re is a wholly owned subsidiary of MNRB Holdings Berhad (MNRB). Malaysia launches Sustainable Energy Development prospectus paper to advance energy transition"}, {"url": "https://technode.global/2023/12/08/wwf-bcg-and-think-city-launch-regional-initiative-for-nature-based-solutions-climate-analytics-and-ai/", "page": 6, "title": "WWF, BCG, and Think City launch regional initiative for nature-based solutions, climate analytics and AI", "contents": "The World Wide Fund for Nature (WWF)The trio said in a statement on Wednesday that SEACAR Alliance is a regional initiative that aims to emphasize the importance of nature-based solutions (NbS), climate analytics and artificial intelligence (AI) in advancing the resilience of cities and communities across six key themes: natural ecosystems, infrastructure, water, agriculture, health, and trade. According to the statement, the SEACAR Alliance is a response to the urgent need to address the impacts of climate change on the Southeast Asian region, which is home to more than 673.3 million people of the global population, and some of the world\u2019s most biodiverse and vulnerable ecosystems. With a focus on collaborative action, the alliance welcomes and encourages other stakeholders, cities, and communities from across the region to join this effort and share ideas, insights, and actions to speed up adaptation and resilience in the region. \u201cNature is the foundation of life. Our disconnect with nature is the root cause of climate change threatening our very existence, \u201cIn Southeast Asia, where communities and cities are at the forefront of climate change, embracing nature as an ally is not just a choice; it is a necessity for a sustainable and resilient future,\u201d said Lavanya Rama Iyer, Director of Policy and Climate Change, WWF-Malaysia. Dave Sivaprasad, Southeast Asia Lead in Climate and Sustainability, Managing Director and Partner, BCG, said that Southeast Asia is a region that is heavily exposed to the physical impacts of climate change. \u201cHowever, this is also a region rich in nature and natural capital, and we have enormous potential in the region to capitalize on both the oldest and newest solutions to adapt and build resilience, \u201cSpecifically, this comes in the form of NbS and technology in the form of AI to plan, prioritize, and implement measures to adapt and build resilience for people, communities, and economies in Southeast Asia,\u201d he added. Hamdan Abdul Majeed, Managing Director of Think City said the firm is proud to join forces with BCG and WWF in a pivotal collaboration aimed at tackling climate change in\u201cOur commitment to enhancing livability in cities, as engines of growth, aligns with the recognition that cities play a significant role in climate change, stemming from carbon emissions, pollution, water scarcity, and urban heat island effects, \u201cLeveraging our expertise in city making and NbS for climate adaptation, we aim to actively contribute our knowledge and foster partnerships with cities and urban settlements across the region as part of this meaningful alliance,\u201d he added. WWF is an independent conservation organization, with over six million followers and a global network active in nearly 100 countries. Its mission is to stop the degradation of the planet\u2019s natural environment and to build a future in which people live in harmony with nature, by conserving the world\u2019s biological diversity, ensuring that the use of renewable natural resources is sustainable. It does this by promoting the reduction of pollution and wasteful consumption. Founded in 1963, BCG is a global consulting firm that works with leaders in business and society to tackle their challenges and capture their opportunities. Think City is an impact organization established in 2009 to create more sustainable and equitable places for the benefit of all. It focuses on urban solutions, the environment, social communities, and the cultural economy. It is a wholly owned subsidiary of Khazanah Nasional, the sovereign wealth fund of the government of Malaysia. Malaysian Central Bank, World Bank announce initiatives to enable financial sector to support nature-positive outcomes"}, {"url": "https://technode.global/2023/12/08/gentari-plans-to-team-up-with-mercedes-benz-malaysia-to-drive-ev-ecosystem-growth/", "page": 6, "title": "Gentari plans to team up with Mercedes-Benz Malaysia to drive EV ecosystem growth", "contents": "Gentari Sdn BhdGentari said in a statement on Thursday the duo will be exploring the potential development of EV charging infrastructure, along with value-added services, such as tailored charging subscription plans, that will enhance the customer experience of Mercedes-Benz EV owners. According to the statement, the potential charging point operations would be jointly developed with EV Connection Sdn Bhd (EVC), and to cater to EV drivers\u2019 needs, these facilities would be installed at selected strategic locations across Malaysia, to ease long distance travel. This potential initiative is also aimed at providing range confidence for EV drivers. \u201cGentari is excited to expand our relationship with a like-minded partner like Mercedes-Benz Malaysia,\u201d said Shah Yang Razalli, Deputy Chief Executive Officer of Gentari and Chief Executive Officer of Gentari Green Mobility Sdn Bhd. He said Gentari understands that providing long-distance range confidence is important to EV drivers, and therefore, as the operator of the largest DC network in the country, Gentari is committed to continue building high-powered chargers and establishing connectivity across states in Malaysia. \u201cThis will directly contribute to propelling EV adoption numbers in the country, fostering a sustainable shift towards electric mobility,\u201d he added. According to the statement, Gentari Green Mobility currently operates 79 DC chargers across nine states including Wilayah Persekutuan in Malaysia and is rapidly expanding its reach in Asia Pacific. \u201cWe are delighted to continue our strategic partnership with Gentari, to spearhead the widespread adoption of electric vehicles in Malaysia,\u201d said Amanda Zhang, Chief Executive Officer and President, Mercedes-Benz Cars Malaysia. Through the intended collaboration, she said the firm aims to explore and develop cutting-edge electric vehicle charging infrastructure and solutions, alongside value-added services such as charging subscription plans tailored for its Mercedes-Benz EV owners. \u201cTogether with EV Connection, Gentari\u2019s expertise aligns seamlessly with our vision to redefine the automotive landscape, providing not only high-performance electric vehicles but also a robust and accessible charging network, \u201cIn line with our Electric Only vision, this planned partnership signifies an important step towards sustainable mobility in Malaysia,\u201d she added. Lee Yuen How, Managing Director, EV Connection Sdn Bhd (EVC), said that the transition to EVs is not one that can be achieved alone. \u201cIt requires a concerted effort from all stakeholders, including automotive manufacturers, charging infrastructure providers, and government agencies, \u201cThat is why we are so proud to have partnered with Mercedes-Benz Malaysia and Gentari, two industry leaders who share our vision for a cleaner and more sustainable future. \u201d he added. To date, since its introduction in June 2022, Gentari has deployed over 200 charging points in Malaysia and over 190 charging points in India, through its affiliated entities. With a mission to be Asia Pacific\u2019s most valued clean energy solutions partner by 2030, Gentari aims to capture over 10 percent market share of public charge points and vehicle-as-a-service (VaaS) offerings, across key markets in Asia Pacific. Malaysia\u2019s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by"}, {"url": "https://technode.global/2023/12/07/securities-commission-malaysia-to-introduce-streamlined-transfer-of-listing-to-encourage-more-exit-options/", "page": 6, "title": "SC Malaysia to introduce streamlined transfer of listing to encourage more exit options", "contents": "The Securities Commission Malaysia (SC) is looking to introduce a streamlined automatic transfer mechanism that will enable qualifying ACE Market companies to transfer to the Main Market beginning next year in a bid to encourage more exit options in the public market space, said its chairman Awang Adek Hussin. \u201cDetails of the proposed automatic transfer framework will be announced later this month. The introduction of a new simplified and accelerated transfer process will facilitate a seamless transfer of listings to promote sizeable and quality ACE Market companies to the Main Market,\u201d he said in his keynote speech at the Malaysia Venture Forum 2023 on Wednesday. By being in the Main Market, it will open up opportunities for foreign investors to participate. This in turn should encourage greater foreign participation in its capital market, he added. SC and Bursa Malaysia will continue to facilitate exits for promising companies, especially in the tech sector, according to Awang Adek. \u201cRecent capital market initiatives aimed at supporting IPO-ready companies are expected to have a positive impact. \u201cThese measures are designed to enhance fundraising efforts, sustain the vibrancy of the IPO market, and improve trading liquidity,\u201d he added. With IPOs being one of the more common exit routes for start-ups in the region, the SC, together with Bursa Malaysia is working to improve efficiency in the public markets to facilitate a start-up\u2019s IPO, with measures such as expediting the IPO process and reducing time-to-market for companies seeking to list on its stock exchange. Awang Adek also said that access to funding can also be obtained through a Special Purpose Acquisition Company (SPAC). The SC revamped the SPAC Framework in Malaysia in 2022, allowing venture capital and private equity professionals with asset sourcing and deal making experience to steer SPACs. Under the previous framework, SPACs could only acquire businesses in cash. The new SPAC rule also allows SPACs to acquire companies through the issuance of securities. \u201cWe have also made it easier for SPAC acquisitions to be approved. Where before, a SPAC required a special resolution for the acquisition to be approved, now, it only needs to obtain a simple majority approval amongst shareholders,\u201d Awang Adek said. The revised SPAC framework as an exit strategy for VC and PE firms, has the potential to broaden the target asset universe and spur listings and deals in Malaysia. This should also encourage mergers and acquisitions and spur corporate transformation, he added. Awang Adek also said it is worth noting that sustainability is an area of increasing importance in the minds of investors as we navigate through the current landscape with various climate challenges. As asset owners demand more sustainable portfolios and capital to finance energy transitions, he said firms must develop their capabilities to incorporate sustainability practices. \u201cIn this regard, the SC has recently published the SRI Guide for Private Markets to help VC/PE firms and recognised market operators to embrace important considerations and best practices for incorporating sustainability into their investment operations,\u201d he said. In addition, VC/PE firms can also look into the SC\u2019s principles-based SRI Taxonomy, which was developed to help asset managers and investors identify sustainable projects. Capital Markets Malaysia (CMM) has created a Simplified ESG Disclosure Guide to provide SMEs with practical guidance on ESG disclosures. Startup Week Malaysia to be held from Dec 1 \u2013 9"}, {"url": "https://technode.global/2023/12/06/malaysias-tnb-unveils-vision-for-sustainable-energy-future-and-collaboration/", "page": 6, "title": "Malaysia\u2019s TNB unveils vision for sustainable energy future and collaboration", "contents": "Malaysia\u2019s utility firm TNB President and Chief Executive Officer Baharin Din said during his keynote address at the 24th Conference of the Electricity Power Supply Industry (CEPSI) held recently in China that TNB is currently finalizing partnerships and conducting feasibility studies for the development of Renewable Energy (RE) Zones for large-scale solar (LSS) and hybrid floating solar photovoltaic (PV), totaling an impressive 2,500 MW in capacity. He also said the company is also exploring groundbreaking co-firing projects involving hydrogen and ammonia, signaling a clear commitment to innovation and sustainability. \u201cWe are fast-tracking these key projects under National Energy Transition Roadmap (NETR) which is in line with our Energy Transition Plan (ETP), spanning the entire electricity value chain. These initiatives represent tangible steps in our journey towards fulfilling our sustainability commitments and vision, all the while fostering robust business growth,\u201d he said. He also said TNB is actively formulating a robust business case for hydrogen production, encompassing both export and domestic usage, with an anticipated completion timeline of two years. According to him, green hydrogen will play a prominent role in TNB\u2019s co-firing initiatives under TNB Genco. Next generation gas-fired power plants, equipped with hydrogen-ready technology, will be introduced starting in 2030, leading to electricity production characterized by significantly lower carbon emissions, he added.  Baharin also underscored the significance of the ASEAN-China collaboration in the relentless pursuit of net zero goals. \u201cTogether, both powerhouses aren\u2019t simply embracing net zero goals but leading the charge in navigating the global energy transition, forging monumental strides towards a low carbon future, and catalyzing substantial economic growth,\u201d he said. He also said that TNB stands at the forefront of the ASEAN energy transition, forging robust alliances with Chinese counterparts to harness cutting-edge green technology including advanced expertise and capabilities in green tech manufacturing. According to him, the ASEAN Power Grid, a beacon of opportunity, promises economic prosperity for Southeast Asia and China, steering them closer to collective net zero aspirations.   Baharin also underscored TNB\u2019s commitment to supporting Malaysia\u2019s position as the regional data center hub, introducing the Green Lane Pathway \u2013 a game-changer tailored for the data center market, streamlining electricity supply and implementation timelines significantly. \u201cIt is an exclusive initiative tailored to the needs of the data center market, offering expedited electricity supply options, and reducing implementation time from 36-48 months to 12 months, \u201cTNB also provides a One-Stop-Centre (OSC) for data center investors and anticipates the potential demand from data centers to exceed 4,300 MW by 2035,\u201d he added.  Shifting gears, Baharin highlighted TNB\u2019s commitment to empowering the ASEAN Power Grid and expressed anticipation for China\u2019s support in RE projects, foreseeing immense growth, job creation, and economic development across the region. \u201cASEAN and China are undeniably prominent players on the global energy stage, both playing pivotal roles in the ongoing energy transition, \u201cThe immense potential for growth and collaboration between these two regions holds the key to achieving our shared objective of advancing towards a low-carbon, sustainable future,\u201d he concluded. Malaysia\u2019s TNB partners Perak state government to drive large-scale renewable energy initiatives "}, {"url": "https://technode.global/2023/12/06/malaysia-launches-sustainable-energy-development-prospectus-paper-to-advance-energy-transition/", "page": 6, "title": "Malaysia launches Sustainable Energy Development prospectus paper to advance energy transition", "contents": "Malaysia has on Tuesday launched the Sustainable Energy Development prospectus in an effort to showcase Malaysia\u2019s strategic intent in \u201cAdvancing Just Energy Transition\u201d at the 28th Conference of the Parties to the UNFCC (COP28) at Dubai Expo City, emphasizing its commitment to climate action on a global stage. The prospectus serves as an expression of Malaysia\u2019s openness to international collaborations, outlining the extensive efforts the country has taken in transforming its energy system into one with a lower carbon footprint as well as its continued commitment in ensuring a fair and responsible transition, according to a statement. Unveiled by Malaysia\u2019s Minister of Natural Resources, Environment and Climate Change (NRECC) Nik Nazmi Nik Ahmad, the prospectus was launched in the presence of local and international delegates at the Malaysian Pavilion of the climate conference. Nik Nazmi Nik Ahmad stated in his keynote address at the launch that the urgency for Malaysia\u2019s shift to sustainable energy is fuelled by global commitments, particularly the Paris Agreement and the need to fortify economic diversification and energy security. \u201cThe launch of Malaysia\u2019s Sustainable Energy Development prospectus signifies our commitment towards energy transition with plans to accelerate the decarbonization of energy generation, develop a modern and flexible grid, as well as to embrace innovation and empower consumers. With this, we welcome trade, technical and policy collaboration with global partners in our collective endeavor for a low-carbon energy system and a sustainable future,\u201d he said. Recognizing the crucial role that energy plays in the climate challenge, he said Malaysia acknowledges that collaborative action within the industry is essential in its journey to accelerating renewable energy deployment to 70 percent in 2050 from the existing 25 percent. According to him, this goal aligns with Malaysia\u2019s commitment to reducing greenhouse gas emissions under the Paris Agreement, aiming for a 45 percent reduction in carbon intensity to gross domestic product (GDP) in 2030 compared to 2005 levels. The prospectus, which was developed in collaboration with the Sustainable Energy Development Authority (SEDA), Energy Commission (ST), Malaysian Green Technology and Climate Change Cooperation (MGTC) as well as national utility, Tenaga Nasional Berhad (TNB), presents Malaysia\u2019s plans and strategies for energy-related companies to embark and contribute to the country\u2019s aspiration to attain a sustainable energy transition. Alongside this document, Malaysian delegates have been actively engaged in talks and discussions throughout the climate conference, leading to many successful sustainable energy collaborations. Malaysian Central Bank, World Bank announce initiatives to enable financial sector to support nature-positive outcomes"}, {"url": "https://technode.global/2023/12/05/bursa-carbon-exchange-inks-deals-with-sarawak-energy-hydropower-sustainability-alliance-i-rec-for-renewable-energy-certificates/", "page": 6, "title": "Bursa Carbon Exchange inks deals with Sarawak Energy, Hydropower Sustainability Alliance, I-REC for renewable energy certificates", "contents": "Bursa Carbon Exchange (BCX)The four-way MOC brings together a collaboration between Malaysian and international organizations in paving the way for the offering of renewable energy certificates (RECs) on Bursa Carbon Exchange, Malaysia\u2019s voluntary carbon market exchange, according to their statement.  Sarawak Energy is a vertically integrated electricity utility serving the state of Sarawak and also Malaysia\u2019s largest renewable energy developer. Meanwhile, the HSA is an independent and multistakeholder standard-setting body that governs the Hydropower Sustainability Standard an assessment and certification system that advances demonstrable sustainability in the hydropower sector.  The I-REC Standard is a non-profit organization based in Netherlands that provides a robust standard for developing attribute tracking systems for renewable energy.  The scope of the MOC will cover the following four areas \u2013 to explore potential supply of RECs from Sarawak Energy; to facilitate cross-border RECs trading and international attribute tracking standards for RECs, using the I-REC platform; to raise awareness through joint knowledge building sessions on sustainability certification, such as the Hydropower Sustainability Standard and understanding credible renewable energy claims; and to help promote the use of sustainability certifications in conjunction with RECs, such as by layering the Hydropower Sustainability Standard onto the I-REC\u2019s International Attribute Tracking Standard, to help end-users identify and purchase premium hydropower RECs from BCX. \u201cBCX aspires to be a global, multi-asset environmental products exchange, to meet the diverse needs of our customers,\u201cBy adding RECs to our existing portfolio of high-quality carbon credits, we aim to provide more options and flexibility for our customers to access and trade environmental products,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.  \u201cToday, our partners and BCX have formalized this collaboration to promote the trading of hydropower RECs on BCX, targeted to be launched next year. We are honoured to have Sarawak Energy sign this MOC with us, given that they are a very significant renewable energy supplier in Malaysia. We applaud Sarawak Energy commitment to obtain Hydropower Sustainability Standard certification for all its hydropower plants, \u201cMeanwhile, BCX is planning to offer RECs from projects complying with the I-REC Standard. This MOC demonstrates our commitment to collaborate with international and domestic partners to advance climate action and support the transition to net zero,\u201d he added.   Haji Sharbini Suhaili, Group Chief Executive Officer of Sarawak Energy, said that given the increasing awareness and commitment to sustainability among corporates in Southeast Asia, REC plays a key role in ensuring a credible mechanism for tracking renewable energy consumption and supporting the global transition towards a low-carbon economy. \u201cSince our REC launch in 2019 during our inaugural Sustainability and Renewable Energy Forum (SAREF) in Kuching, Sarawak Energy has supported various players from different industries in their sustainability journey through the REC mechanism, \u201cToday\u2019s signing empowers all stakeholders by promoting awareness of renewable energy and sustainability, while reinforcing Sarawak\u2019s hydropower as an essential source of renewable and sustainable energy in Malaysia,\u201d he added. Joao Costa, Executive Director of the Hydropower Sustainability Alliance, also expressed optimism about the groundbreaking collaboration. According to him, this partnership underscores the vital role of collaborations between industry, civil society, and financiers in championing sustainable practices and advancing renewable energy. \u201cBy exploring the potential integration of sustainability certifications onto Sarawak Energy\u2019s RECs that will be part of the product offering on BCX, we aim to contribute to a global movement for a more resilient future,  \u201cWe are not only excited to be part of this impactful venture but also see it as a model to be replicated globally, showcasing the potential of cooperative efforts to address socio-environmental challenges and create a more sustainable world,\u201d he added. Roble P. Velasco-Rosenheim, Director of Global Partnerships and Asia Pacific (APAC) at the I-REC Standard Foundation highlighted that this collaboration is a perfect example of how countries, companies, and the non-profit community can come together to support the procurement of high-quality clean electricity products, in line with both national and international ambition. \u201cWe are confident that BCX will provide significant value to the wider Malaysian market by facilitating transactions. At the same time, HSA will improve the selection process of end-users by making it easier to credibly select RECs from sustainable hydro generation assets, \u201cSarawak Energy\u2019s engagement in the market will facilitate access to end-users across the country. Overall, we\u2019re honored to be a part of the development of a robust market in Malaysia,\u201d he added.  According to the statement, Bursa Malaysia plans to offer RECs on BCX in 2024, in support of Malaysia\u2019s net-zero GHG emissions target by as early as 2050, and in line with the country\u2019s National Energy Transition Roadmap.    Bursa Carbon Exchange inks deal with Gold Standard to grow Malaysia\u2019s voluntary carbon market"}, {"url": "https://technode.global/2023/12/05/ocbc-partners-fintech-firm-moby-to-provide-more-payment-collection-options-for-micro-merchants/", "page": 6, "title": "OCBC partners fintech firm MOBY to provide more payment collection options for micro merchants", "contents": "OCBC Bank (Malaysia) Berhad (OCBC Bank)With this, merchants are now able to accept credit and debit card payments through their mobile phones with the SmartPay solution, OCBC Bank said in a statement on Tuesday. In addition, small and micro merchants who register with MOBY will be able to offer an array of payment options which range from online and offline acceptance of debit, credit cards to Buy Now Pay Later (BNPL) with both conventional and Shariah-compliant options. According to the statement, the SmartPay solution helps eliminate the use of clunky credit card terminals, empowering small and micro merchants to accept contactlessIt works the same way as a contactless transaction on a standard Electronic Data Capture (EDC) credit card terminal by enabling seamless and efficient transactions throughThis simplifies record-keeping and supports environmental, social, and corporate governance (ESG) objectives with e-receipts sent via short message service (SMS) or email. According to OCBC Bank Managing Director and Head of Consumer Financial Services Anne Leh, the collaboration with MOBY is a game-changer and combines the expertise of a respected and established bank with the approach of a fintech player, revolutionizing the way financial services are delivered to micro businesses. \u201cWe wanted to be inclusive and reach out to the often-neglected micro businesses and are delighted to tie up with MOBY to create yet another option in the secure digital payments ecosystem. This is part of our overarching aim to deliver greater convenience and speed to our merchants,\u201cWe see great opportunities ahead working with fintechs such as MOBY and look forward to future collaborations of this nature as we continue to make payment solutions more seamless and efficient,\u201d she added. MOBY\u2019s Founder and Chief Executive Officer Rian Philip said the company sees its new value-added payments app as the start of a revolutionary series of products being built to not only assist small and micro merchants in payment collections but also to improve the way financial transactions are carried out by both merchants and consumers. He said the firm is delighted to partner with OCBC Bank, which is part of the largest banking groups in Southeast Asia, in meeting the demands of its strategic move towards an even more enriched payment ecosystem, \u201cWe are elated to join forces with OCBC Bank in this ground-breaking venture. Together, we are transforming how small and micro merchants transact and manage their finances, \u201cBy introducing innovative products like SmartPay we are bringing unparalleled convenience, speed and efficiency to businesses and individuals alike,\u201d he added. Moby is a fintech company based in Malaysia. The firm has introduced MOBY ISLAMIC, the first homegrown Shariah-compliant BNPL player in Malaysia to cater to a diverse customer segment and to promote inclusivity in the financial sector. It has also expanded its offerings beyond BNPL, through its various collaborations with strategic partners. OCBC is an established Singapore bank formed in 1932 from the merger of three local banks. The bank is the second largest financial services group in Southeast Asia by assets. It offers a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. The group\u2019s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 410 branches and representative offices in 19 countries and regions. OCBC Bank ties up with five electric vehicle-related companies to provide affordable payment options in Malaysia"}, {"url": "https://technode.global/2023/12/05/bursa-carbon-exchange-inks-deal-with-gold-standard-to-grow-malaysias-voluntary-carbon-market/", "page": 6, "title": "Bursa Carbon Exchange inks deal with Gold Standard to grow Malaysia\u2019s voluntary carbon market", "contents": "Bursa Carbon Exchange (BCX)The duo said in a joint statement that the MOU will enable BCX, the world\u2019s first Shariah-compliant carbon exchange, to enhance the offerings on the carbon exchange and increase the knowledge of its ecosystem players in areas such as the process of registering a carbon project, to the operationalization of methodologies and standard setting initiatives by Gold Standard. This will support BCX as it expands the offering of carbon credits from both local and international carbon projects. Gold Standard is an established and internationally recognized standard setter, certifier and issuer of carbon credits, which are recorded and tracked on the Gold Standard Impact Registry. \u201cThe broadening of offerings on BCX will support the country\u2019s transition to a lower carbon economy,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. According to him, this MOU signing is timely as we aim to expand BCX\u2019s trading platform to include Gold Standard-certified carbon credits from next year onwards. \u201cWith the adoption of both leading international carbon credit standards \u2013 Verra and Gold Standard \u2013 on BCX, we will open our marketplace to more carbon project developers and methodologies, which aligns with our role of facilitating access to a wider range of high-quality carbon credits,\u201d he said. As part of the MOU, Gold Standard will, among other activities, support capacity building for local project developers and encourage the development of validation and verification bodies, for the operationalization of carbon projects in the Malaysian market. \u201cThis complements the incentive for carbon projects that was announced during the tabling of Malaysia\u2019s Budget 2024 in October this year. We are confident that this will strengthen BCX\u2019s position as an international, Shariah-compliant carbon exchange,\u201d Umar added.  Margaret Kim, Chief Executive Officer of Gold Standard, said that by collaborating with exchanges such as Bursa Malaysia, the firm hopes to encourage the adoption of carbon credits as part of credible corporate climate plans, and promote the growth of the voluntary carbon market with integrity. \u201cNot every carbon credit is created equal, and it is vital that investors can see and value the different levels of quality, \u201cGold Standard will always advocate for the highest integrity that carbon credits can deliver, in terms of both environmental and sustainable development impact,\u201d she added. BCX is the world\u2019s first Shariah compliant carbon exchange that enables corporates to take practical climate mitigation action through the trading of carbon credits from projects with measurable climate action outcomes that adhere to the international standards. The exchange was incorporated in 2022 and operated by Bursa Malaysia Carbon Market Sdn Bhd. Gold Standard was established in 2003 by WWF and other international non-governmental organizations (NGOs) as a best practice standard to help the world grow to zero. All Gold Standard certified projects and programs accelerate progress towards the net-zero ambition of the Paris Climate Agreement while catalyzing impact toward the broader Sustainable Development Goals. Its standard, Gold Standard for the Global Goals, allows climate and development initiatives to quantify, certify and maximize their impacts toward climate security and sustainable development. Certification against the standard provides the confidence that these results are measured and verified, enabling credible impact reporting. ISEAL Code Compliant and backed by a broad NGO Supporter Network, Gold Standard has 2900+ projects underway in over 100 countries, creating billions of dollars of shared value from climate and development action worldwide. Malaysian bourse commences carbon credits trading"}, {"url": "https://technode.global/2023/12/05/malaysian-stock-exchange-to-launch-platform-for-mandatory-esg-reporting/", "page": 6, "title": "Malaysian Stock Exchange to launch platform for mandatory ESG reporting", "contents": "Bursa Malaysia Securities Berhad (Bursa Malaysia)The firm said in a statement that this platform will act as a repository for disclosures conforming to the prescribed format mandated under Bursa Malaysia\u2019s enhanced sustainability reporting requirements within the main market listing requirements and ACE market listing requirements, introduced on September 26, 2022. Without additional cost, listed issuers will access the ESG Reporting Platform via the Bursa LINK system to generate a summary performance table, which must then be disclosed in their respective sustainability statements. The performance table must include indicators and data pertinent to the listed issuer\u2019s material sustainability matters. Listed issuers can refer to Bursa Malaysia\u2019s Illustrative Sustainability Reporting Guide for a visual representation of this requirement. \u201cWe are implementing the enhanced sustainability reporting requirements for main market and ACE market listed issuers in a phased approach, accompanied by supporting user guides and illustrative toolkits, to provide listed issuers time to familiarize themselves with the respective requirements,\u201d said Julian Hashim, Chief Regulatory Officer, Bursa Malaysia. \u201cWe are pleased to see the enhanced disclosures being undertaken with noteworthy progress in sustainability-related practices and disclosures by many listed issuers even before the mandatory periods, \u201cThis puts our listed issuers in good stead as Malaysia pushes the bar for more robust ESG disclosures over the next few years,\u201d he added. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/12/04/malaysia-science-ministry-to-present-full-framework-for-ai-code-of-ethics-in-1q-2024-report/", "page": 6, "title": "Malaysia Science Ministry to present full framework for AI code of ethics in 1Q 2024 \u2013 report", "contents": "The Ministry of Science, Technology and Innovation (Mosti) in Malaysia is expected to present a comprehensive framework related to the code of ethics for artificial intelligence (AI) in the first quarter of next year, national news agency Its minister, Chang Lih Kang, said the presentation aimed at detailing the guidelines and regulations that stakeholders in all sectors need to adhere to. \u201cA special committee has been formed under Mosti to develop this comprehensive framework related to AI technology in collaboration with various parties, including industry players. \u201cThis is essential because currently, there are no guidelines or regulations in place to ensure ethical use of AI across all sectors,\u201d he told reporters at the 2023 Deepavali Open House organised by Perak PKR Leadership at Dewan Merdeka on Sunday. In September, it was reported that Mosti secretary-general Datuk Dr Aminuddin Hassim said that the effort to develop the AI code of ethics was in response to several significant issues, particularly concerning privacy, security and its impact on human life. He said the initiative to regulate this new technology is being drafted based on the Recommendation on the Ethics of AI adopted by the United Nations Educational, Scientific and Cultural Organisation (Unesco) in November 2021. Meanwhile, Chang said the ministry also assures that the widespread use of AI would create more high-skilled job opportunities, while indirectly providing added value, particularly in terms of upskilling or reskilling for workers. \u201cAt Mosti, we do not foresee AI technology replacing human tasks in terms of jobs. Instead, future jobs will come with a new set of skills through new training capacities,\u201d he said. Malaysia\u2019s Science ministry proposes initiatives to enhance startup ecosystem, STEM education to be included in Budget 2024"}, {"url": "https://technode.global/2023/12/04/malaysian-central-bank-world-bank-announce-initiatives-to-enable-financial-sector-to-support-nature-positive-outcomes/", "page": 7, "title": "Malaysian Central Bank, World Bank announce initiatives to enable financial sector to support nature-positive outcomes", "contents": "Bank Negara Malaysia (BNM)BNM said in a statement on Sunday that the two initiatives are financial risks assessment guide for Malaysian financial institutions and businesses to assess nature-related risks and impacts; as well as private capital mobilization for nature-based solutions. According to the statement, the risk assessment guide will be developed in consultation with the Taskforce on Nature-related Financial Disclosures (TNFD) Secretariat. The aim is to support Malaysian financial institutions and businesses in identifying and assessing an organization\u2019s nature-related dependencies, impacts, risks and opportunities. The guide will be based on the integrated approach that TNFD has developed for the identification and assessment of nature-related issues, called the LEAP approach (Locate, Evaluate, Assess, Prepare), an integrated process developed by TNFD to help organizations identify and assess nature-related impacts, dependencies, risks, and opportunities, even without formal disclosureThis consultation will follow BNM becoming a member of the TNFD Forum, a global multidisciplinary consultative group that is aligned with TNFD\u2019s mission and principles. BNM and the World Bank will facilitate the development of innovative financial instruments to support private investments in nature. This includes enabling regulations to support nature-positive outcomes and piloting new financial structures. According to the statement, these initiatives will facilitate the integration of nature-related considerations into decision-making while supporting financial flows towards nature-based solutions. Bank Negara Malaysia Governor Datuk Abdul Rasheed Ghaffour said the partnership announced is in recognition of the implications of nature-related risks to a megadiverse country like Malaysia. He said the collaboration sealed will bring about greater alignment between financial flows and positive outcomes. The World Bank Country Director for Brunei, Malaysia, Philippines and Thailand Ndiame Diop said that with this collaboration, Malaysia aims to develop robust measures to increase finance for the natural world, thereby setting a good example for other nations grappling with nature-related financial and economic risks. Malaysian Stock Exchange, United Nations Global Compact  collaborate to advance capability, capacity building on sustainability in the marketplace"}, {"url": "https://technode.global/2023/12/04/malaysian-agritech-startup-qarbotech-lands-700000-seed-funding/", "page": 7, "title": "Malaysian agritech startup Qarbotech lands $700,000 seed funding", "contents": "QarbotechThe round was led by multi-stage venture capital firm, 500 Global, and includes innovation grants from the Temasek Foundation for winning the Climate Impact Innovations Challenge 2023, and Khazanah Nasional\u2019s Dana Impak for winning the Khazanah Impact Innovation Challenge (KIIC) 2023, Qarbotech said in a statement. With this round of financing, Qarbotech said it will make significant investments in strengthening their research and development, and expand its manufacturing facility to produce up to 50 times its current capacity to serve farmers and growers in new markets across Southeast Asia. \u201cAs the industry\u2019s most accessible photosynthesis enhancer, we are pioneering a new and disruptive solution that will reshape conventional approaches to farming, \u201cThe strategic support from our investors propels us towards scalable growth, but more importantly, allows us to empower more farmers around the world to feed the rest of us,\u201d said Chor Chee Hoe, Chief Executive Officer and Co-Founder of Qarbotech. Qarbotech is a sustainability and green tech company that is committed to using technology to make a positive impact on the world. The company\u2019s flagship product, QarboGrow, is a revolutionary photosynthesis enhancement technology that helps farmers increase crop yields while reducing their environmental impact. Qarbotech\u2019s patented photosynthesis enhancement nanotechnology is an on-plant or in-soil solution that boosts agricultural productivity \u2013 increasing crop yields by up to 60 percent. The company\u2019s unique formulation contains biocompatible organic compounds with properties similar to chlorophyll, thus increasing the photosynthesis rate of leafy plants. By optimizing photosynthetic efficiency and shortening growth cycles, farmers and growers of all sizes can enhance their crop yield. \u201cQarbotech\u2019s journey, from the labs of the university to the fields of commercial farms, shows the transformative power that research and innovation can have in our lives, \u201cThis milestone not only signifies Qarbotech\u2019s commitment to driving positive change through science, but is also a proud moment for Universiti Putra Malaysia, where our groundbreaking research took root and flourished,\u201d said Dr. Suraya Abdul Rashid, Chief Scientist and Founder of Qarbotech, and Deputy Director at Universiti Putra Malaysia\u2019s Institute of Nanoscience and Nanotechnology. According to the statement, the population in Southeast Asia is estimated to grow by 12 percent, from 670 million in 2020 to 750 million by 2035. It said this population surge and climate volatility are expected to drive a 40 percent increase in food demand by 2050. It also noted that limited agricultural resources, widespread land degradation, and diminishing arable land caused by urbanization and industrialization in the region pose a threat to food production. It opined that Qarbotech\u2019s technology is essential for farmers to grow more with less arable land. \u201cAgriculture is an industry that\u2019s ripe for investments, \u201cWhen we have the privilege to meet a team that\u2019s catalyzing a step change for farmers, we back them,\u201d Khailee Ng, Managing Partner, 500 Global. \u201cQarbotech\u2019s technology has exciting potential to solve the global food security challenge of the world\u2019s growing population, of which about 30 percent do not have food security, \u201cWe believe that when Qarbotech wins, these 2.3 billion people win too,\u201d he added. Malaysia\u2019s JCorp invests $1.74 million into Singapore-based agritech firm Archisen"}, {"url": "https://technode.global/2023/12/04/axiata-concludes-sale-of-ncell-exits-nepal/", "page": 7, "title": "Axiata concludes sale of Ncell, exits Nepal", "contents": "Malaysian multinational telecommunications conglomerate Axiata said in a statement last Friday that the group\u2019s decision to withdraw from Nepal is based on a thorough evaluation of the prevailing business environment in Nepal, which led to the conclusion that continuing operations under the current conditions of unfair taxation and regulatory uncertainties was no longer sustainable for Axiata. Axiata entered the Nepal market in 2016, following the acquisition of Reynolds for the purchase price of USD1.365 billion, effectively securing an 80 percent equity interest and controlling stake in Ncell. Between 2016 to 2020, Ncell had settled a total of NPR 47 billion ($421.9 million) in capital gains tax (CGT) as full and final liability under Nepalese law and received confirmation from Large Taxpayers Office of Nepal (LTPO) in April 2020 that no further taxes remain in relation to the acquisition of Reynolds in 2016. Despite the payment of CGT, Ncell was further assessed in January 2021 by the LTPO under Section 57 of the Income Tax Act of Nepal for a sum of approximately NPR 57.9 ($433.6 million) for the same transaction. Collection on this assessment by the Tax Authorities has thus far been suspended due to an interim order issued by the Supreme Court of Nepal based on Ncell\u2019s petition disputing the applicability of the assessment. Capital gains tax was imposed on Ncell and Axiata after Nepal\u2019s efforts to collect tax from the seller failed. The international arbitration proceedings filed by Axiata to the International Centre for the Settlement of Investment Disputes (ICSID) were concluded on June 9, 2023. In delivering its award the arbitration tribunal ruled in the award that Nepal should refrain from demanding any further tax, fees, penalties or interest in relation to the acquisition of Reynolds in 2016 and, in particular, that Nepal should refrain from enforcing the January 2021 assessment. While Axiata has prevailed on the government of Nepal to abide by the terms of the award, and specifically the termination of any attempts to repeatedly tax the same transaction, the government of Nepal and its tax authority the LTPO have thus far failed to withdraw the January 2021 assessment which is likely to carry a present day value of $433.6 million inclusive of interest up to January 13, 2021 and penalties but excluding any further interest after that date. If the January 2021 assessment was upheld, and ignoring any further interest after January 13, 2021, this would take the total taxation on the $1.37 billion transaction in 2016 to $855.5 million, or 62.7 percent of the transaction value. Considering the imminent and existential exposure arising from the scenario of double taxation, additional risk associated with the expiry of the company\u2019s mobile license in 2029, with the potential of expropriation of Axiata\u2019s stake by the government of Nepal and the unfavorable foreign investment protection environment in Nepal, Axiata had accelerated its exploration of an exit. The terms of the share purchase agreement (SPA) with Spectrlite UK would enable Axiata to exit on a clean basis. Key terms of the SPA include a fixed consideration and a conditional consideration. The fixed consideration is $50 million, of which $5 million is payable within six months of transaction completion and the remainder is payable after 48 months post transaction completion. Meanwhile, the conditional consideration is a share of the going forward distributions contingent upon the future business performance and net distributions declared by Ncell until 2029, and any windfall gains secured by the Purchaser during this period.  Ncell retains full responsibility for its business and any of its liabilities, and Spectrlite UK will further indemnify Axiata against existing and future Nepalese tax claims in relation to Ncell. The board of Axiata has resolved that the best path forward for the group would be to exit Nepal on the terms described. According to the statement, Axiata and Ncell have made significant contributions to the socio-economic development of Nepal. As the country\u2019s largest taxpayer, Ncell contributed NPR 283 billion ($2.12 billion) in taxes and fees as of last Fiscal Year FY 2021/2022 since its inception. Ncell, both directly and indirectly, supports more than 25,000 jobs and connects over 17 million customers across its networks. Under its corporate social responsibility ambit, Ncell has invested more than NPR 1.75 billion ($13.12 million) in various social projects identified as critical to the nation that include education, health, disaster management and environment. Meanwhile, over the past seven years, Ncell has made a total dividend contribution to the group of MYR 2.2 billion ($470 million). \u201cThis transaction has allowed us to exit the country in a responsible manner. The closing of the sale and the completion of our exit from Nepal enables us to focus on our strategic priorities and continue our value creation journey, \u201cWe are now in a much stronger position to deliver on our strategy, refine our capital allocation priorities and explore the right strategic partnerships,\u201d Axiata Chairman Shahril Ridza Ridzuan said. Vivek Sood, Group Chief Executive Officer and Managing Director of Axiata, said that Axiata has been in Nepal for seven years, working alongside hard-working colleagues in Ncell. \u201cHowever, the increasing challenges in the operating environment represents a fundamental shift, \u201cIt has led the Axiata board to conclude, after a thorough process, that our foray in Nepal cannot continue due to the unfavorable conditions for Axiata, the uncertain regulatory and tax environment and the looming risks associated with the expiry of the mobile license in 2029,\u201d he said. He also noted that the offer the firm received has enabled and accelerated a clean exit for Axiata. \u201cNcell retains full responsibility for its business and any of its liabilities, while Spectrlite UK will further indemnify Axiata against existing and future Nepalese tax claims in relation to Ncell, \u201cWe believe this decision is in the best long-term interests of all our shareholders,\u201d he added. He is confident that Ncell will continue to thrive in the future under the helm of Spectrlite UK. Ncell is the first private sector telecommunications service provider of Nepal since 2004 and is constantly working towards its goal of connecting every Nepalese through its network, providing high-quality modern services to consistently create better value for our customers and partners. The firm has built networks and communication services and operates the widest 4G network in the country, fulfilling the national need of high-speed mobile broadband. Ncell converted into a public limited company into Ncell Axiata Limited on August 3, 2020. The firm has been serving over 16 million Nepalese. Japan\u2019s Mitsui invests $58M in ADA via Axiata Digital, valuing ADA at $550M"}, {"url": "https://technode.global/2023/12/01/five-telcos-take-up-70-stake-in-digital-nasional-berhad/", "page": 7, "title": "Five telcos take up 70% stake in Digital Nasional Berhad", "contents": "Five Mobile Network Operators (MNOs) have on Friday executed share subscription agreements (SSAs) to take up 70 percent equity stakes in DNB said in a statement that the five telcos are CelcomDigi Berhad (CelcomDigi) through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd (Maxis), U Mobile Sdn Bhd (U Mobile), Telekom Malaysia Bhd (TM) and YTL Power International Bhd (YTL).  According to the statement, the SSAs give effect to the MNOs\u2019 collective subscription, subject to satisfactory due diligence, of 70 percent equity or 14 percent each in DNB with the government, through the Minister of Finance (Incorporated) (MOF Inc), retaining the remaining 30 percent and holding a special share. The signing of the SSAs will see each MNO injecting approximately MYR 233 million ($49.86 million), which will be utilized to meet DNB\u2019s funding requirements. According to the statement, the execution of the SSAs by the MNOs marked a significant achievement by the task force for the Implementation of 5G Dual Network in Malaysia (5G Task Force), whose members comprise representatives from the Ministry of Finance, the Ministry of Communications and Digital, the Malaysian Communications and Multimedia Commission (MCMC), DNB as well as the MNOs. The 5G Task Force was established by the government on May 9, 2023 with the objective to ensure the smooth transition from the single wholesale network (SWN) model to the dualAs of end-October 2023, Malaysia has recorded 3.6 million 5G service subscriptions, representing an adoption rate of 10.8 percent. To boost the adoption rate among consumers, the government, with the cooperation of telecommunication companies, launched the 5G Rahmah Package, under which participating telcos offer more affordable 5G data and device bundle plans, in August 2023. MRANTI, DNB, Ericsson extend MOU to boost technology clusters  in MRANTI Park"}, {"url": "https://technode.global/2023/12/01/capital-as-airasia-move-quarterly-revenue-up-68-percent-on-year-to-36-59-million/", "page": 7, "title": "Capital A\u2019s airasia MOVE quarterly revenue up 68 percent on year to $36.59 million", "contents": "Airasia MOVE, the travel, lifestyle and financial digital platform of Malaysia-based Capital A said in a statement on Thursday that the unit also posted an aarnings before interest, taxes, depreciation, and amortization (EBITDA) of MYR 11.7 million ($2.5m), primarily driven by travel (flights and hotels) and rides segments. In an effort to boost demand in a typically slower quarter, airasia MOVE ramped up its flight marketing initiatives, which led to a rise in operating expenses for the period. \u201cWe are prioritizing the development and execution of a strategic plan that emphasizes cost restructuring and operational efficiency, cutting out smaller businesses to focus on core businesses around the travel segment with the return of global travel,\u201d airasia MOVE Chief Executive Officer Nadia Omer said. \u201cLeveraging the solid foundation laid by flights and hotels, we are now amplifying the potential of our hotel business, with the vision of going beyond mere market participation but becoming market leaders, \u201cThe expansion and enhancement of our hotel services are critical steps towards establishing airasia MOVE as the go-to Online Travel Agency in the Asean region,\u201d she added. According to the statement, e-wallet BigPay\u2019s quarterly revenue rose by 30 percent year on year to MYR 11.1 million ($2.38 million), narrowing its EBITDA loss by 33 percent year on year to MYR 22 million ($4.71 million). The revenue growth was seen across all core product sectors, with payments climbing by 21 percent, remittances by 40 percent, and marketplace sales surging by 167 percent year on year. Efforts were also made to better integrate BigPay within airasia MOVE to access a wider customer base, thus boosting sales and widening service offerings. Meanwhile, the group\u2019s logistics venture Teleport\u2019s quarterly revenue grew by 71 percent year on year to MYR 189 million ($40.45 million) but incurred an EBITDA loss of MYR 3.7 million ($790,000), attributed to one-off induction costs of the freighter to its fleet mix. E-commerce segment recorded an average of 80,000 daily deliveries, equivalent to a 171 percent year on year growth despite continued industry headwinds. Teleport continued to unlock end-to-end operational capabilities to better serve its e-commerce customers and to continue scaling recurring growth in the coming quarters. Volume growth is also attributed to capacity injection across Teleport\u2019s extended network with the induction of Awan, its first of three A321F freighters, as well as added capacity via its partner airlines such as UPS and SF Airlines. \u201cTeleport has delivered significant quarter on quarter volume growth, with tonnage up 27 percent and e-commerce parcel growth up 50 percent, respectively. This is despite challenging the market backdrop, \u201cWhile industry outlook is poor, Teleport is winning; operating on the back of a highly favorable cost structure built on a valuable combined belly and freighter network and an end-to-end model,\u201d Teleport Chief Executive Officer Pete said. AirAsia parent Capital A to list brand management business on NASDAQ via SPAC deal"}, {"url": "https://technode.global/2023/12/01/dbs-provides-kwap-green-loan-to-expand-sustainability-footprint-in-australia/", "page": 7, "title": "DBS provides KWAP green loan to expand sustainability footprint in Australia", "contents": "Development Bank of Singapore (DBS)DBS said in a statement on Tuesday that this is the first green loan that KWAP has secured to expand its environmental, social, and corporate governance (ESG) footprint in Australia. Wholly owned by KWAP, the 17-level office building located in Collins Street, Melbourne, holds a 6 Star NABERS energy rating (without Green Power) \u2013 the highest rating for building energy efficiency in Australia. This is in recognition of its many sustainability attributes, including rooftop solar panels and a trigeneration system that recycles waste heat from onsite power generation for heating and cooling purposes. According to the statement, DBS provided the green loan for the building in accordance with its Sustainable and Transition Finance Framework and Taxonomy, which was launched in 2020 to help clients transition towards more sustainable business models. The loan provisions are aligned with internationally -recognized Green Loan Principles. \u201cThe built environment sector is ripe for decarbonization as it accounts for a quarter of all greenhouse gas emissions,\u201d said Niraj Mittal, Country Head of DBS Australia. According to him, the industry recognizes this as the firm has observed growing demand for green finance products from a wide spectrum of organizations and not just real estate companies. He said the firm has been financing green infrastructure and properties across Asia Pacific to support the region\u2019s transition towards a low carbon future. \u201cIn Australia, we are very active in green and sustainability-linked financing to support our strategic clients\u2019 sustainability goals, \u201cDBS is proud to be partnering with KWAP as a pioneer in sustainability,\u201d he added. It is noted that TrustCapital Advisors Investment Management is KWAP\u2019s investment manager for this green loan. KWAP said in a separate statement that the building is one of KWAP\u2019S major asset holdings in the region since October 2013. It noted that DBS, is the incumbent lender for the building in the last seven years, starting in 2016. \u201cBuilding a portfolio that generates long-term returns for our stakeholders has always been KWAP\u2019s top priority as part of our value creation journey,\u201d said Hazman Hilmi Salahuddin, Chief Investment Officer of KWAP. \u201cIt is an even greater achievement if it can be accomplished in a way that supports our effort to continue spearheading the ESG agenda, \u201cWe are thrilled to work with DBS as we progress on this path towards making environmentally and sustainably conscious decisions for our portfolio,\u201d he said. DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, the bank is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank provides a full range of services in consumer, small and medium-sized enterprise (SME) and corporate banking. Established in 2007, KWAP manages contributions from the federal government and relevant agencies made into the retirement fund to obtain optimum returns on its investments through sound management and investment of the fund in equity, fixed-income securities, money market instruments, and other forms of investments. The fund will be applied towards assisting the federal government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the federal government for the purpose of pension payment, gratuity, or other benefits granted under any written law from the consolidated fund as agreed between the federal government and KWAP. DBS divests majority stake in AXS to Tower Capital Asia"}, {"url": "https://technode.global/2023/11/30/grab-backed-gxbank-official-open-to-malaysians/", "page": 7, "title": "Grab-backed GXBank officially open to Malaysians", "contents": "Grab-backed digital bank Looking ahead, GXBank will progressively be rolling out additional features which will also include their debit card \u2013 GX card and how its various features will benefit Malaysians, GXBank said in a statement on Thursday. \u201cSince we commenced operations in September 2023, we have tested our app to thousands of beta testers, almost 50 percent have created \u2018Pockets\u2019 \u2013 the app\u2019s savings goal feature. Emergencies, holidays and investments are the top three reasons our customers are saving for, \u201cFollowing the months of testing amongst GXBank internal staff, shareholders, partners and selected Malaysians, we feel optimistic and encouraged to now expand to the rest of Malaysia,\u201d said Pei Si Lai, Chief Executive Officer of GX Bank. According to the statement, this is in tandem with the recent RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2023 indicating Malaysians want to save more as currently their savings can only last up to three months. This resonates with GXBank\u2019s purpose for introducing \u201cPockets\u201d to encourage the habit of saving especially amongst the younger generation. \u201cMany Malaysian brands began with a humble vision and through time, built themselves to be household names. The tenacity of many of these homegrown brands inspire us as we have built the bank with Malaysia in mind \u2013 making banking seamless, convenient and accessible to all, \u201cThe journey was a challenging one, but we are humbled by the support of many to get us to this moment. As Malaysia\u2019s digital bank, we look forward to continued partnerships toLai further expressed the excitement for the launch of the GX Card as it symbolizes a tangible way for the bank to connect with customers. \u201cAs a digital bank, we are born of tech with no physical branches, \u201cThis makes our GX Card very special to us as it is currently the only physical manifestation of GXBank that customers can proudly keep in their pockets,\u201d she added. The GX Card, a partnership between GXBank and Mastercard offers rewards such as unlimited 1 percent cashback for every online and offline spend with the card, zero markups or fees on foreign transactions, MYR 1 ($0.21) fee waiver when used at 10,000+ MEPS ATM nationwide, and 1.5 times GrabRewards points when users spend at Jaya Grocer. Additionally, the design of the card boasts the brand\u2019s distinct colors and aims to differentiate it amongst others when placed in the wallet, making it distinctly recognizable. GXBank is licensed by Bank Negara Malaysia and all deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to MYR 250,000 ($53,733) for each depositor, which is inline with regulatory standards. Customers can earn daily interest of 3 percent per annum when they park their money in the main accounts or \u201cPockets\u201d, which are savings goals to encourage them to cultivate a saving behavior for their needs and dreams. They can save for a variety of purposes such as their retirement plan, an upcoming holiday or for a new home. Through the app, they can also monitor their savings progress and receive periodic tips to fast-track their savings goals. GXBank is Malaysia\u2019s first digital bank that commenced operation on September 1, 2023. With a workforce of almost 99 percent Malaysians from both the finance and technology sectors, the bank aims to disrupt the current banking industry with customized innovative solutions that empower Malaysians to be financially resilient and support their financial goals. GXBank is a subsidiary of GXS Bank Pte. Ltd. , \u2013 the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Limited (Singtel) \u2013 and a consortium of other Malaysian investors, including Kuok Group. Grab-backed GXBank unveils beta bank app"}, {"url": "https://technode.global/2023/11/30/malaysias-cradle-fund-appoints-of-norman-matthieu-vanhaecke-as-group-ceo/", "page": 7, "title": "Malaysia\u2019s Cradle Fund appoints Norman Matthieu Vanhaecke as Group CEO", "contents": "The Board of Cradle said in a statement on Tuesday that born of Malay and Belgian descent, Norman has been the acting GCEO of Cradle since June 1, 2022. Prior to joining Cradle in 2020 and initially serving as its Head of Finance and Corporate Services, he began his professional career as an auditor at KPMG and has since held various key Strategy, Financial and Management positions in both local and multinational oil and gas related companies and government agency. He holds a degree in Accounting from University of Queensland, Australia, and a degree in Software Engineering from Multimedia University, Malaysia. His deep interest in technology and innovation grew from his experiences and educational background, igniting his passion to drive local Malaysian tech companies to become more competitive compared to their global counterparts. Cradle Chairman Yvonne Chia lauded the appointment, stating that the board is very excited as it is an internal promotion that reflects the strength of Cradle\u2019s internal talent and effective succession planning. \u201cOver the past 18 months, Norman has proven his leadership skills as the acting GCEO, significantly impacting the organization under his guidance, \u201cWith his solid background and expertise, and his demonstrated track record of success, I\u2019m assured that Cradle will continue to spearhead the nation\u2019s startup agenda bringing positive impact to society, individuals and businesses, as well as the country as a whole, echoing theCradle also expresses deep appreciation for the unwavering support provided by the Ministry of Finance (MOF) and MOSTI since its inception. According to the statement, the robust collaboration between Cradle and both ministries has played a pivotal role in shaping an inclusive, impactful and sustainable startup ecosystem aligned with the government\u2019s target to rank Malaysia in the Top 20 Global Startup Ecosystem by 2030. It said MOF and MOSTI\u2019s steadfast commitment have fuelled startups growth and contributed significantly to the broader economic landscape. Cradle, a focal point agency for Malaysia\u2019s early-stage startup, incorporated under the Ministry of Finance Malaysia (MOF) in 2003 with a mandate to fund potential and high-calibre tech startups through its Cradle Investment Program (CIP). Cradle is presently administered by the MOSTI. Cradle has helped fund over 1000 Malaysian tech startups and holds the highest commercialization rate amongst government grants in the country. Having more than a decade of experience in the nation\u2019s grant funding scene, Cradle further expanded its role from grant provider to investor through the establishment of its venture arm, Cradle Seed Ventures in 2015 and following its portfolio expansion to equity investment in early 2017, Cradle offered both funding and investment assistance. Currently, two new grants are made available to the startup ecosystem namely CIP SPARK and CIP SPRINT. Allocated under the 12th Malaysia Plan, CIP SPARK is a funding program targeting technology startups for the development of ideas and Minimum Viable Product (MVP) as well as other pre-commercialization activities and CIP SPRINT is for the commercialization of innovative technology products and services, aimed at assisting technology startups at an early stage to develop and commercialize their products in the market. Following the announcement of the Malaysian Startup Ecosystem Roadmap (SUPER) in 2021, Cradle has been appointed as the focal point agency for Malaysia\u2019s startup ecosystem and mandated to ensure the successful running of a holistic ecosystem to enable and encourage growth among startups. Cradle also spearheads the MYStartup initiative \u2013 one of the interventions identified under five ecosystem drivers in SUPER \u2013 where it contributes directly to efforts in increasing the number of innovative and quality startups. Cradle also administers the Angel Tax Incentive (ATIO), designed for angel investors to be accorded a tax deduction of up to MYR 500,000 ($107,474) to stimulate and encourage angel investments from private sector into technology-based startup companies in Malaysia. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/11/29/funding-societies-partners-halal-development-corporation-berhad-to-enhance-financing-access-to-halal-smes/", "page": 7, "title": "Funding Societies partners Halal Development Corporation to enhance financing access to halal SMEs", "contents": "Singapore-based digital finance platform Funding Societies has partnered with Funding Societies said in a statement on Wednesday that the collaboration aims to offer halal businesses access to Shariah-compliant digital financing facilities, enhancing the development of the halal ecosystem. According to the statement, the collaboration supports the development of the local halal industry and caters to the growing global halal market, which is forecasted to be worth $5 trillion by 2030. Locally, the Halal Industry Master Plan 2030 projects Malaysia\u2019s halal industry to grow to $113.2 billion in 2030 and is projected to contribute 8.1 percent to gross domestic product (GDP) by 2025. As at 2022, the total halal export was valued at 59.5 billion, with the halal industry contributing 7.4 percent to the country\u2019s gross domestic product (GDP). \u201cConsequent to the introduction of our comprehensive Islamic Financing solutions in May 2023, we are well positioned to serve the growing demand for Shariah-compliant SME digital financing from Muslim entrepreneurs and those in the halal economy,\u201cIncreasingly, given the emphasis on fairness and transparency of fees and charges, this class of products appeals to non-Muslims alike,\u201d  said Chai Kien Poon, Country Head of Funding Societies Malaysia. He said that since the launch, Funding Societies has disbursed more than MYR 100 million ($21.49 million) under its Islamic Financing solutions. \u201cThis collaboration will help to boost trade and investment activities in the halal economy as well as expand market access (export) for halal industry players in the country,\u201d he added. HDC Chief Executive Officer Hairol Ariffien Sahari said that the collaboration between HDC and Funding Societies is a testament that HDC is proactively finding ways to address\u201cOur goal is to empower micro-SMEs (MSMEs) and to close the gaps for the underserved in the halal economy so that we can create a more conducive environment that cultivates more halal homegrown champions,\u201d he added. Cited the Department of Statistics Malaysia (DOSM), Funding Societies noted that MSMEs represent 97 percent or 1.2 million of overall business establishments as of 2022. As the backbone of the Malaysian economy, which accounts for almost half of total employment, it said SMEs\u2019 ability to participate in the nation\u2019s economic trajectory is crucial to the country\u2019s growth. According to the statement, the introduction of government policies through support packages in the 2023 Malaysia Madani Budget, coupled with collaborations within the private sector, such as Funding Societies, will help widen access to business financing for MSMEs and help sustainably advance the Malaysian economy especially in the development of the halal industry. It said the signing of the memorandum comes at an important juncture for the malaysian halal ecosystem as it reinforces the private sector\u2019s role and commitment in driving and supporting the nation\u2019s MSMEs and economic growth in line with the goals outlined in Budget 2024. Operating in Malaysia since 2017, Funding Societies has provided financing to thousands of underserved and unserved SMEs in the country and disbursed more than MYR 2 billion ($430,000) in financing in Malaysia since its inception. Across the region, more than MYR 15 billion ($3.22 billion) has been disbursed in working capital through more than 5 million transactions as of November 2023. The fintech platform targets to have 50 percent of its disbursement from its Shariah-compliant financing portfolio by 2025. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. The firm is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The fintech company provides business financing to SMEs, which are funded by individual and institutional investors. HDC is a dynamic organization dedicated to promoting and facilitating the development of the halal industry in Malaysia. Committed to driving innovation and growth, HDC plays a pivotal role in supporting businesses within the halal economy. Funding Societies raises $7.5M in debt from Norfund"}, {"url": "https://technode.global/2023/11/29/catcha-digital-acquires-51-percent-interest-in-digital-agency-digital-symphony-for-4-55m/", "page": 7, "title": "Catcha Digital acquires 51 percent interest in digital agency Digital Symphony for $4.55M", "contents": "Malaysia-based digital media firm Catcha Digital said in a statement on Tuesday that the firm has entered into a letter of intent (LOI) to acquire the stake. According to the statement, the acquisition is expected to materially increase Catcha Digital\u2019s earnings per share. \u201cIf the proposed acquisition materializes, this would enable Catcha Digital Group to leverage on DS Services\u2019 expertise to deliver a more comprehensive range of solutions to the clientele of both the Group as well as DS Services,\u201cSimilarly, DS Services would also be able to strengthen its market position by gaining access to the financial strength and client base of the group,\u201d said Catcha Digital. It is noted that Catcha Digital Group operates businesses in the digital media, advertising and software industries, providing advertising solutions to clients in the fast-moving consumer goods, retail, property, entertainment and other industries in Malaysia.  Meanwhile, Digital Symphony  is principally engaged in providing digital consulting and digital marketing services, encompassing the areas of market research, analytics, turnkey management of digital marketing strategies as well as development of applications, websites and mobile applications. According to the statement, the consideration payment will be split into two tranches over two years, payable upon Digital Symphony achieving a profit guarantee of audited profit after tax of MYR 4 million ($860,000) for the first year post acquisition and MYR 4.3 million ($920,000) for the second year post acquisition. Payment for the purchase consideration of Digital Symphony is expected to be funded via a combination of internally generated funds, debt financing and equity financing.  Digital Symphony is a Malaysia-based data-driven digital agency, operating across Malaysia and Singapore. Leveraging its proprietary software and analytics tool, Digital Symphony provides differentiated performance marketing solutions to its clients. The company serves a broad range of enterprise clients with a focus on the property development sector, including prominent companies such as Malaysian property firms Gamuda Land, Mah Sing, Sunway Property, Tropicana Corporation and Sime Darby Property. Digital Symphony was founded by Kuhan Kumar A/L Palaniappan  in 2014. Prior to founding Digital Symphony, Kumar was Founder and Chief Executive Officer of Techworks Solutions Sdn Bhd, an information technology (IT) and software service provider with clients like Maybank, Sepang International Circuit and Baker Hughes Malaysia. Prior to that, he was with the research and development (R&D) team in Western Digital (Malaysia) Sdn Bhd, working on automated assembly lines. \u201cWe are excited to become part of Catcha Digital as this will enable us to unlock new growth opportunities, \u201cAt the same time, we look forward to bringing our proprietary software and analytics tools along with our capabilities in performance marketing to Catcha Digital\u2019s existing clients,\u201d said Kumar, Founder and Chief Executive Officer of Digital Symphony. Catcha Digital Chairman Patrick Grove said that recognized broadly in Malaysia as one of the leaders in their field, Digital Symphony will form a key part of Catcha Digital\u2019s strategy going forward. \u201cI am confident with Kuhan and his team and I believe we can grow hand in hand, \u201cWe look forward to working with the Digital Symphony team to bring the business to greater heights,\u201d he added. Catcha Digital is a Malaysia-based investment holding company, focused on operating businesses in the digital media, advertising and software industries. The group\u2019s wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast-moving consumer goods, retail, property, entertainment and other industries in Malaysia. Catcha Digital sets up new unit to develop technology solutions and software for Malaysia\u2019s public sector "}, {"url": "https://technode.global/2023/11/28/mranti-supports-191-malaysian-innovators-to-accelerate-since-2020/", "page": 8, "title": "MRANTI supports 191 Malaysian innovators to accelerate since 2020", "contents": "The MRANTI said in a statement on Tuesday that a rapidly growing number of local innovators are getting a boost from the MRANTI in advancing their research and development (R&D) and entering new markets especially in the last 12 months. According to the statement, in 2023, the National Technology and Innovation Sandbox (NTIS) spearheaded by MRANTI has enabled 27 Malaysian technology companies to commercialize 27 products, turning in MYR 87.2  million ($18.67 million) in sales. Meanwhile, 191 Malaysian companies have been accelerated since 2020 through 11 Sandboxes. It is noted that NTIS allows researchers, innovators and entrepreneurs with products at a mature technical readiness level to test their solutions and services in a live environment where regulations are relaxed \u2013 a critical step towards commercialization. The sandbox also provides innovators with access to a network of funding partners, as well as 50 industry experts and ecosystem players. \u201cWith strategic interventions to accelerate commercialization, we have assisted more than 191 companies work through regulatory, technical and funding challenges, through 11 Sandbox programs since 2020, \u201cThese efforts increase our security of innovation supply and raises our stature as a high-income, high-technology economy,\u201d said Rais Hussin Mohamed Ariff, Chief Executive Officer of MRANTI. On improving regulatory support for innovators, MRANTI said the agency is working closely with the Medical Devices Association (MDA) and the Ministry of Health to shorten theIt said that through the NTIS, several regulatory improvements have been made for the deployment of drones in the agriculture sector. It is noted that companies in the sandbox stress-test many technologies, across various sectors. Over the past three years, drone and robotics as well as fourth industrial revolution (4IR) technologies, with 129 solutions designed to improve the agriculture, medical and healthcare and logistics sectors. \u201cOne of the key learnings in the past three years in running the NTIS, is that there is a need to provide more avenues, scenarios and locations for experimentation, validation and testing for innovators who are at an earlier stage of their solution development, \u201cAs such, MRANTI recently launched its Food Security Sandbox with the Northern Corridor Implementation Agency (NCIA) to allow technology providers to test their inventions in a live setting specifically to improve crop yield for paddy and fruits,\u201d Mohamed Ariff said. According to the statement, an additional two Sandboxes are expected to be rolled out in 2024, with aims to attract more companies and partners with solutions in more technology and sectoral areas. \u201cWe hope to nurture more local innovators and close more gaps in the innovation lifecycle, \u201cAs such, we will be expanding the existing 50 developmental programs next year, to ensure the effective transition of more prototypes to proof-of-concepts,\u201d said Mohamed Ariff, adding that the agency had a target of 100 commercialized products by 2025 under the 12th Malaysia Plan. It is learnt that products and solutions which have attained commercial status are further supported by MRANTI through market-expansion programs. For example, the MRANTI Global-Market-Fit Program (GMP) provides assistance for high-growth innovative companies to strengthen their product position in a new market, gain insights and new opportunities in international markets. The GMP offers eligible companies mentorship, specialized workshops, and government funding. Since it was incepted in 2020, 81 companies have been supported to 11 international destinations including Japan, Indonesia, the European Union, China, Thailand, Germany and more. Nomatech is an agritech company that has benefited from both program. The firm recently commercialized new breeds of rice \u2013 including a low glycemic-index red rice and high-yield, high-resistance white rice. The company is now offering its rice grain, flakes and flour products at major supermarket chains in Malaysia, and has received strong interest from Japan, Ireland and other international locations. Meanwhile, GPS Fleet is another Malaysian company that has since opened up a company in Indonesia, having commercialized their fleet management and logisticsIt is serving a growing logistics industry in one of the world\u2019s largest archipelagos. MRANTI\u2019s GMP program is expected to reach two more destinations in 2024. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Center (MaGIC), is Malaysia\u2019s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialize and scale. The agency offers innovators and industry access to world-class integrated infrastructure, programs, services, facilities and a suite of resources. In doing so, MRANTI aims to expand Malaysia\u2019s funnel of innovation supply, and unlock new R&D value by ensuring effective transitions in the commercialization lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters. MRANTI opens autonomous vehicle experimental lab to accelerate Malaysia\u2019s mobility sector development"}, {"url": "https://technode.global/2023/11/28/malaysias-airo-enters-into-the-fintech-with-actively-managed-digital-investment-platform/", "page": 8, "title": "Malaysia\u2019s Airo enters fintech as actively managed digital investment platform", "contents": "AiroAiro said in a statement on Tuesday that its algorithm-driven system uses an active investment strategy to identify key investment opportunities, while monitoring portfolio risk and returns by tracking overall market dynamics. According to Airo, almost 73 percent of Malaysians aged 18 to 40 years old admit to being in debt, with more than half surveyed citing financial constraints and inflation as serious impediments to their financial stability. It opined that to these citizens, a pathway to fiscal security through investments may seem completely out of reach due to a lack of financial know-how or resources. The firm also noted that many young Malaysians consider their potential as investors hampered by a lack of knowledge of what an effective investment strategy entails \u2014 a painful reality in a world where successful investing is viewed as a method of achieving financial freedom. Cited a 2022 survey by the Security Commissions Malaysia, it said that only 38 percent of survey respondents were considered to have high financial literacy, and only 35 percent of the respondents were shown to have capital market knowledge. Knowing this, while more learned investors are more likely to actively seek out opportunities to diversify their investments, it said that effective asset management and diversification might be intimidating for newcomers. It also said that risk mitigation could also prove an issue, particularly for first-time investors \u2014 especially those without the time or freedom to focus exclusively on monitoring individual stock performances. It said that Airo\u2019s investment platform, however, could offer a solution to this as they bring together the best of fintech with real-life experience from their team of professional fund managers. According to the statement, Airo is committed to helping Malaysians from all walks of life achieve their investment goals by curating personalized investment strategies according to individual profiles. The platform\u2019s algorithm-driven investment engine assists with this by tracking and monitoring investment opportunities which match anyone\u2019s unique requirements. It also said an active investment strategy, which allows for the direct adjustment of investment portfolios to better align with prevailing market conditions is generally the preferred plan of attack. Airo said the firm takes this up a notch through a dynamic asset allocation strategy, adapting swiftly to the ever-changing global economic landscape and tailoring strategies to meet each user\u2019s specific fiscal goal. Whether these first-time investors want to realize a dream holiday, fund their child\u2019s education, or build a retirement nest egg, Airo said its advanced technology operates ceaselessly, crafting bespoke investment strategies for each user. In addition to this, Airo also provides automated, algorithm-driven investment services at a starting point of only MYR 50 ($10.70) \u2014 effectively removing a massive cost barrier for first-time investors, and enabling them to take their first steps in their investment journey. \u201cAt CP Global Fintech Solutions, we are committed to delivering long-term solutions to help our fellow Malaysians from all walks of life achieve their wealth goals, \u201cTo do so, we use a systematic global macro system to harness the flexibility and opportunities that stem from an active investment strategy \u2014 all the better to meet the needs of our users directly,\u201d said William Yii, Chief Investment Officer, CP Global Fintech Solutions Sdn Bhd.  According to the statement, Airo utilizes a modified robust risk measurement system to provide round-the-clock risk management capabilities. This conditional-value-at-risk (CVAR) system monitors portfolio risk on a 24/7 basis and helps to manage and hedge any possible downturn going forward, actively protecting the overall portfolios\u2019 risk and return as effectively as possible. Airo said its proprietary technology is also designed to mitigate damage from severe market corrections by being able to handle cash as a safe haven option, as well as employing hedging instruments such as inverse exchange-traded fund (ETFs). Additionally, it said investors\u2019 monies are held securely in a separate custodian account with Pacific Trustees, with secure AWS servers, 2FA authentication, and biometric-enabled access guaranteeing the highest level of cybersecurity for investors. It opined that this allows investors to maximize potential returns from multiple streams at minimal risk to themselves or their carefully constructed portfolios.  With a Digital Investment Manager (DIM) license from the Securities Commission of Malaysia, Airo said the firm aims to combine the best of technology and hands-on experience to guide the Malaysian public. With this, they intend to usher in a new era of accessible and personalized financial solutions for Malaysians, ensuring that first-time investors get the help they need to achieve their financial goals. Airo is a digital investment app developed and launched by CP Global Fintech Solutions, a licensed digital investment manager with the Securities Commission of Malaysia. Airo is a digital investment management platform that leverages an active investment strategy to help investors better navigate the increasingly uncertain and volatile investment landscape. Its proprietary technology seeks to deliver personalized investment portfolios, robust risk management and globally diversified strategies to help the average individual achieve their unique financial goals. It currently offers four core portfolios targeting different levels of risk and goals, and plans to include Shariah-compliant portfolios by the first quarter of 2024. Malaysia\u2019s Hextar Technologies ventures into FinTech with the launch of mobile super app"}, {"url": "https://technode.global/2023/11/27/malaysia-brunei-collaborate-to-advance-capability-capacity-building-on-sustainability-in-the-marketplace/", "page": 8, "title": "Malaysian Stock Exchange, United Nations Global Compact  collaborate to advance capability, capacity building on sustainability in the marketplace", "contents": "Bursa Malaysia Berhad Bursa Malaysia said in a statement on Monday that under the memorandum of collaboration, both parties will explore several initiatives including developing sustainability-related programs or certifications that will support the upskilling of sustainability practitioners of public listed companies (PLCs) and small and medium sized enterprises (SMEs) in their supply chains in a targeted manner. The efforts build on an earlier collaboration, which resulted in the release of the Corporate Sustainability Practitioner Competency Framework in 2021, which is a tool for practitioners to ascertain their level of the competencies on sustainability-related functions.  This current initiative comes at a time where companies are increasingly scrutinized by their stakeholders on how they incorporate sustainability strategies and considerations in their business operations.  Bursa Malaysia opined that Malaysian businesses must be adept at responding to the multitude of sustainability challenges. Thus, the collaboration aims to identify needs and bridge the gap between current practices and what is now required of Malaysian companies, as well as the complex requirements these companies are expected to adhere to in continuing to carry out business with the international community. \u201cA sustainability capacity building program for Malaysian companies is essential to ensure that companies are able to fill gaps in the sustainability talent pool, by pointing listed companies towards credible avenues to upskill the sustainability capabilities of their employees,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. \u201cThe expanded collaboration with the UNGCYMB reaffirms Bursa Malaysia\u2019s commitment to working with stakeholders in developing a capable, and sustainability-focused marketplace, \u201cThis signals our collective intent to support the Malaysian talent pool in navigating the increasingly complex global environment,\u201d he added. In addition, the collaboration will also provide a channel for SMEs in the supply chain of PLCs to improve their climate disclosures and onboard onto the Bursa Malaysia Centralized Sustainability Intelligence (CSI) Platform as part of the SME Decarbonization Program. As part of its commitment to supporting the decarbonization of SMEs, UNGCMYB recently rolled out the SME ESG Hub, a comprehensive environmental, social, and corporate governance (ESG) resource platform for Malaysian SMEs. The hub aims to support SMEs in planning, implementing, and communicating their ESG initiatives through practical resources including local and global case studies, and toolkits.  \u201cSustainability competency is critical to bridge the do-gap for sustainability and this expanded collaboration with Bursa Malaysia looks to develop an ecosystem of sustainability talents, \u201cWe aim to do this by scaling and accelerating ESG competence by providing relevant programs, workshops and tools for both corporates and SMEs,\u201d said Faroze Nadar, Executive Director of UNGCMYB. Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005, and has grown to be one of the largest bourses in ASEAN today. Bursa Malaysia operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities, and is committed to creating opportunities, growing value. UNGC is a strategic policy initiative for businesses that are committed to take actions to advance broader societal goals. UNGCMYB is the official local network of UNGC, that supports Malaysian and Bruneian companies in enabling them to contribute towards the sustainable development goals (SDGs) and achieve business excellence via our 10 principles, programs and tools while providing access to partnerships with a range of stakeholders \u2013 to share best practices and emerging solutions. The network also seeks to position Malaysian and Bruneian businesses as a benchmark and a primary agent in driving a sustainable world.  Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/11/27/malaysias-redtone-offers-starlink-satellite-broadband-services-to-government-and-enterprise-customers/", "page": 8, "title": "Malaysia\u2019s REDtone offers Starlink satellite broadband services to government and enterprise customers", "contents": "Malaysia-based integrated telecommunications and digital infrastructure services provider REDtone said in a statement on Monday that with its team of more than 150 dedicated engineers across the country, it can quickly deploy Starlink\u2019s broadband services to users in remote locations as well as areas with geographical and environmental constraints. REDtone\u2019s Chief Executive Officer Lau Bik Soon said the firm\u2019s strength as a network integrator will enable them to offer seamless satellite-based services to government and enterprise customers. \u201cWe are targeting sectors which are showing an increasing reliance on satellite services such as oil and gas, telecommunications, shipping and maritime, financial services and plantations, \u201cThese are expected be a significant driver of satellite market growth in the country and will enhance the company\u2019s profitability,\u201d he added. According to the statement, the satellite market in Malaysia is estimated to be worth $4.2 billion by 2025, growing at a compound annual growth rate of 10.9 percent. \u201cToday, we also take another step forward to help realize the government\u2019s vision to achieve 100 per cent internet access in populated areas,\u201d said Lau.  According to him, about 3 percent of Malaysia\u2019s population are residing in areas with little or no internet connectivity. \u201cThis is where we come in to fill the broadband gap via satellite, to enable economic growth, provide access to education and healthcare, and enhance public safety,\u201d he added. REDtone is one of the leading providers of Universal Service Provision. The company is assisting the Malaysian Communications and Multimedia Commission (MCMC) to deploy Starlink satellite services to connect various rural communities across the country. Currently, there are some 5,000 Starlink satellites in orbit and Starlink has started launching the Gen 2 satellites which promise enhanced speeds. This will enable Starlink to provide digital support to every corner: connecting the unconnected and bridging the digital divide in MalaysiaStarlink is a firm delivers high-speed, low-latency internet to users all over the world. As the world\u2019s first and largest satellite constellation using a low Earth orbit, Starlink delivers broadband internet capable of supporting streaming, online gaming, video calls and more.  Starlink is engineered and operated by SpaceX. As the world\u2019s leading provider of launch services, SpaceX is leveraging its deep experience with both spacecraft and on-orbit operations to deploy the world\u2019s most advanced broadband internet system. As of September 2023, Starlink connects more than 2 million active customers in over 60 countries. REDtone Digital is a subsidiary of Malaysian conglomerate Berjaya Corporation Berhad. Listed on Bursa Malaysia, Main Market, REDtone is a leading integrated telecommunications and digital infrastructure services provider. Founded in 1996, REDtone has evolved from a voice provider to one that offers an extensive range of services under three main categories \u2013 telecommunications services; managed telecommunications network services and cloud and internet of things (IoT). The firm offers data, voice, mobile and managed cyber security services to government, enterprises and small and medium-sized enterprises (SMEs). The firm is the only service provider in the industry to provide infrastructure integration expertise. Its access to a unique suite of last mile technologies also enables it to offer broadband-on-demand. The firm\u2019s managed telecommunications network services include building, maintaining and operating large scale telco engineering projects, WiFi hotspots, base stations and fiber infrastructure. The firm also offers smart farming, IoT, cloud services and applications and data center services to enterprises and government. Malaysia becomes 60th country SpaceX\u2019s Starlink provides high-speed internet service"}, {"url": "https://technode.global/2023/11/27/startup-week-malaysia-to-be-held-from-dec-1-9/", "page": 8, "title": "Startup Week Malaysia to be held from Dec 1 \u2013 9", "contents": "Editor\u2019s note: Startup Week MalaysiaHosted by a coalition of startup organizations, including Female Founders in Malaysia, Nextupasia, Asia School of Business, and Cradle \u2014 each known for their significant contributions to Malaysia\u2019s entrepreneurial landscape \u2014 this event promises to be a cornerstone for startup founders and the ecosystem at large. Spanning from Penang to Johor, and extending to Kota Kinabalu and Klang Valley, Startup Week Malaysia unites aspiring and seasoned founders, angel investors, community leaders, and other pivotal players. This initiative opens up avenues for participants to gain insights from industry experts, forge co-founder relationships, and secure mentorship crucial for their startup\u2019s success. Keynote sessions like Startup School will showcase seasoned founders like Richard Ker, illuminating the art of \u201cExpanding Your Value Through Storytelling,\u201d while Rong Liew demystifies \u201cBuilding Effective Products,\u201d and Bikesh of 1337 Ventures breaks down the essentials of startup funding. Additionally, the event brims with unique engagements such as networking sessions spearheaded by Female Founders in Malaysia & Southeast Asia, the thrilling \u201cFundrace\u201d by Digital Penang, the insightful \u201cBridging the Tech Talent Gap in Malaysia\u201d by Malaysia Pay Gap and 42Malaysia, the invigorating \u201cHiking with Founders\u201d led by Yeoh Chen Chow, and the interactive \u201cBarCamp Cyberjaya,\u201d among others. Some highlights participants can look forward to:\u2013 Startup School on Dec 4 featuring talks by successful founders like Richard Ker of RK Digital on storytelling and\u201cWe envisioned Startup Week Malaysia as a catalyst for the vibrant startup community, equipping founders with the knowledge, connections, and resources they need to thrive. For our first year, our focus is on creating an inclusive platform for learning and networking that\u2019s as diverse as Malaysia\u2019s entrepreneurial spirit,\u201d Daniel Cerventus, the co-founder of Malaysia Startup Week, said in a statement. For a complete lineup and to secure your place in this groundbreaking event, extend your network and join the nation\u2019s innovators at Full List of events happening & RSVP form: Startup Week Malaysia is a weeklong celebration dedicated to educating, inspiring, and connecting entrepreneurs across the nation. Inaugurated in 2023, the series is powered by a coalition of organizations that are at the forefront of nurturing startups and fortifying the entrepreneurial ecosystem in Malaysia."}, {"url": "https://technode.global/2023/11/23/malaysias-tnb-partners-perak-state-government-to-drive-large-scale-renewable-energy-initiatives/", "page": 8, "title": "Malaysia\u2019s TNB partners Perak state government to drive large-scale renewable energy initiatives", "contents": "Malaysian utility firm TNB said in a statement on Thursday that the firm is in another significant step to drive large-scale RE in line with the country\u2019s National Energy Transition Roadmap (NETR). It said the firm is cooperating with the state government of Perak to explore the vast potential of floating solar systems in the vicinity of the Sungai Perak hydroelectric scheme, dam and reservoir. In a parallel effort under NETR\u2019s Centralized Solar Park project, TNB is teaming up with Perak government-linked company, Majuperak Holdings Berhad (MHB) to develop a substantial 100-Megawatt (MW) ground mounted solar project in Perak. In the first strategic partnership, TNB through its wholly owned subsidiary, TNB Power Generation Sdn Bhd (TNB Genco) is collaborating with Perbadanan Kemajuan Negeri Perak (PKNPk). The second partnership is between TNB\u2019s wholly owned subsidiary, TNB Renewables Sdn Bhd (TRe) and MHB. These initiatives reflect a collective commitment to expedite Malaysia\u2019s transition to cleaner and more sustainable energy sources, aligned with NETR\u2019s objectives. \u201cThese visionary endeavors are aligned with the NETR aimed at propelling Malaysia into a future marked by cleaner and more sustainable energy sources, \u201cThe strategic partnerships with the Perak state government entities signify a collective commitment to expedite the transition to environmentally friendly energy,\u201d TNB President and Chief Executive Officer Ir. Baharin Din said. According to the statement, the collaborations were formalized through the signing of the memorandum of understanding (MoUs) during The Energy Transition Conference 2023 held last August, with each geared towards enhancing Malaysia\u2019s renewable energy portfolio and concurrently reducing its carbon emissions.  On the TNB Genco-PKNPk collaboration, Baharin said that this pioneering initiative is poised to redefine energy generation as both parties will embark on an extensive feasibility study for the development of floating solar photovoltaic (FSPV) systems. \u201cThe two-year timeline for this comprehensive study underscores TNB Genco and PKNPk\u2019s strong determination to the realms of RE and environmental, social and governance (ESG) matters, \u201cBy harnessing the power of hybrid technologies, specifically hydro and FSPV, our objective is to support the country\u2019s RE targets by efficiently utilising land and existing bodies of water,\u201d he added. As for the TRe-MHB partnership, he said that Perak has been identified as one of the potential states for this development, with MHB entrusted as the state entity for this initiative. \u201cThe signing of the MoU demonstrates the unwavering commitment of both parties to explore the possibilities of ground mounted and floating solar development in Perak,\u201d he added. He also said TRe is set to develop a substantial 100 MW ground-mounted solar project across five sites in several states under NETR\u2019s Centralised Solar Park project. The project will be co-owned by TRe as the master developer together with Small and Medium Enterprises (SME) and state agencies, according to him. According to the statement, TNB\u2019s strategic partnerships also reflect its dedication to transforming Malaysia\u2019s energy landscape, advancing renewable energy, and contributing to a greener and more sustainable future.  Malaysia\u2019s TNB partners Petronas to explore CCS technology for gas-fire power plants"}, {"url": "https://technode.global/2023/11/23/vietnams-akabot-expands-its-reach-into-malaysia/", "page": 8, "title": "Vietnam\u2019s akaBot expands its reach into Malaysia", "contents": "AkaBotThe company said in a statement on Thursday that it will offer Malaysian businesses in finance, banking, retail, and manufacturing a range of holistic solutions for automation and digitization, enhancing overall productivity and cost savings. According to the statement, Malaysia is witnessing a surge in the demand for digitalization in response to ongoing corporate investments. Projections for the 2023 digital economy in Malaysia indicate a significant contribution of 24.4 percent to the nation\u2019s gross domestic product (GDP), with expectations of a further increase to 25.5 percent in the subsequent year. Looking ahead to 2024, it said the Malaysian government has allocated a substantial sum of MYR 100 million ($21.36 million) for digitalization grants, aiming to support over 20,000 small and medium-sized enterprises (SMEs) in expediting their digitization and automation initiatives. \u201cMalaysia stands out as a compelling market for akaBot, thanks to its diverse and rapidly expanding economy coupled with a commendable level of economic stability,\u201d said Ginny Truc To, Country Manager of akaBot. \u201cDespite witnessing rapid growth, it\u2019s noteworthy that only 30 per cent of business establishments have embraced digital technology, potentially impeding further market expansion,\u201cWe aim to address and resolve these challenges in Malaysia by offering automated operations that promise heightened productivity, enhanced reliability, improved performance, and reduced operating costs,\u201d she added. According to the statement, the level of digitalization in businesses is still relatively low compared to developed markets. It said the high cost and lack of localization in the current market offerings have been significant barriers to growth. With akaBot being able to develop customized automation solutions that suit local business needs, as well as provide affordable solutions, the company sees a strong potential for growth in the market. \u201cWe anticipate a strong demand for our solution in Malaysia, driven by the country\u2019s considerable potential,\u201d said akaBot Chief Executive Officer Giap Bui. \u201cWe see significant growth opportunities here. The fact that there are over 1.15 million SMEs in Malaysia emphasizes the clear need for a solution like akaBot, \u201cWe look forward to working with our new and future customers to contribute to the development of Malaysia\u2019s digital economy,\u201d he added. Founded in 2018, akaBot, a subsidiary of Vietnam\u2019s information technology (IT) firm FPT Information System, is a provider of RPA and hyper automation services, aiming at helping organizations achieve operational excellence with minimum effort and low licensing costs. The firm has experienced remarkable growth, expanding its operations to encompass eight countries, including Malaysia. With over 3500 customers in 21 countries globally, akaBot has successfully reached and deployed over 10,000 virtual robots for a vast range of brands of multiple industries across the world including Panasonic ITS, Mizuho Bank,Driven by a vision of creating the ideal digital workspace, akaBot\u2019s virtual assistants have freed more than 11 million employees from mundane tasks, slashing processing time by a remarkable 70 per cent and saving up to 21.9 million working hours annually. Additionally, akaBot champions environmental sustainability, reducing paper consumption by 60 percent, fostering a greener office environment. In 2023, akaBot implemented its RPA solutions for various companies in Malaysia, addressing the main issue of manual and repetitive tasks. In the retail sector, akaBot focuses on automating order purchase processes to save 50 percent processing time, translating to potential savings of up to $500,000 in operational costs. Especially for manufacturing and financing clients, the RPA solutions improve workflows with a 95 percent reduction in invoice processing time, coupled with an impressive accuracy rate of 99 percent. AkaBot\u2019s automation solution operates by leveraging advanced RPA technology to streamline and optimize various business processes. The system is designed to handle repetitive and rule-based tasks, such as data entry, supply chain management, inventory, document verification and many more. This ensures that businesses benefit from increased efficiency and accuracy in day-to-day operations. Vietnam\u2019s FPT acquires US product engineering services firm Cardinal Peak"}, {"url": "https://technode.global/2023/11/21/smart-malaysia-launches-all-new-gen-ev-smart-1/", "page": 8, "title": "Smart Malaysia launches all-new gen EV smart #1", "contents": "Smart Malaysia, a unit of Chinese automaker Geely, has on Tuesday announced the official pricing for its all-new electric vehicle (EV), the smart #1. Smart Malaysia said in a statement that the prices of the smart #1 Pro, Premium and BRABUS are ranged from MYR 189,000 ($40,619) to MYR 249,000 ($53,514). According to the statement, PRO-NET, the exclusive distributor for smart #1 in Malaysia and Thailand, has strengthened its support for the Proton EV roadmap by acquiring valuable insights and seamlessly establishing an integrated ecosystem. This spans dealer networks, aftersales services, the user-friendly digital \u2018Hello smart\u2019 App, and high-voltage battery management in Malaysia, showcasing the company\u2019s readiness for the electric mobility revolution. With the tagline #TAKETHEsmartWAY, be captivated by the intelligent features of the smart #1 Pro, Premium, and flagship BRABUS models, each with its distinctive characteristics, paving the way for a premium experience and a high-performance driving future. \u201cWe are committed to reshaping the landscape of premium all-electric mobility in the country, \u201cOur dedication lies in reshaping consumer confidence through exceptional aftersales service, which includes readily available parts, an integrated public charging map, and a seamless digital ecosystem,\u201d said Zhang Qiang, Chief Executive Officer of PRO-NET.  He said the company firmly believes the key to success is to place customer needs and desires at the heart of every product and service they offer. \u201cToday, we celebrate our smart enthusiasts and eagerly look forward to expanding the presence of the smart #1 on Malaysian roads, providing a distinctive, premium, and intelligent all-electric urban mobility experience,\u201cWith our ambitious vision, we aspire to revolutionize the automotive EV industry,\u201d he added. Tesla starts accepting orders in Malaysia"}, {"url": "https://technode.global/2023/11/17/malaysia-and-singapore-launch-cross-border-real-time-payment-systems-connectivity/", "page": 8, "title": "Malaysia and Singapore launch cross-border real-time payment systems connectivity", "contents": "Malaysian central bank The duo said in a joint statement on Friday that the initiative follows the QR payment linkage announced on March 31 which enabled cross-border QR payments to merchants. According to the statement, the DuitNow-PayNow linkage enables instant, secure and cost-effective peer to peer (P2P) fund transfers and remittances between the two countries. This real-time payment systems linkage is also the first to include the participation of non-bank financial institutions from both countries, providing access to a broader group of users. Consumers of participating financial institutions are now able to send and receive funds of up to MYR 3,000 or SGD 1,000 ($641) daily by using the recipient\u2019s mobile phone number or virtual payment address (VPA). For users in Malaysia, the service will first be available for all Maybank, CIMB and TNG Digital\u2019s users, with other financial institutions gradually onboarded thereafter. The service will be made available to Singapore customers of Liquid Group, Maybank Singapore, OCBC and UOB under a phased approach, where these institutions will progressively increase the number of eligible user groups from today until end-January 2024. This is to support customers\u2019 familiarisation with the service. According to the statement, the DuitNow-PayNow linkage is an outcome of extensive collaboration among the central banks, payment system operators, scheme owners, and participating financial institutions of both countries. It is an important milestone in improving the cost, speed, access and transparency of cross-border payments. The two central banks opined that users from both countries will benefit from the linkage\u2019s cost-effectiveness, inclusivity and accessibility. They also said it is also aligned with the objectives of the ASEAN Payment Connectivity Initiative and the G20 Roadmap for enhancing cross-border payments. It is noted that in 2022, P2P and remittance transactions between the two countries stood at 7.8 billion ringgit/$2.3 billion Singapore dollars. \u201cCross-border payments that are fast, secure, and cost-efficient can provide immense benefits, especially for individuals and small businesses in countries with very close economic ties such as Malaysia and Singapore,\u201d BNM governor Abdul Rasheed Ghaffour said. He said the DuitNow-PayNow linkage enables the two countries to reap these benefits towards their shared growth and prosperity, while laying the foundations for scalable cross-border payment networks across and beyond ASEAN. MAS managing director Ravi Menon also said the PayNow-DuitNow linkage is the culmination of a shared aspiration by Singapore and Malaysia to facilitate cross-border payments between the two countries. \u201cThis linkage represents another step toward ASEAN\u2019s vision for regional payments interconnectivity,\u201d he added. BIS and central bank partners to explore protocols for embedding policy and regulatory compliance in cross-border transactions"}, {"url": "https://technode.global/2023/11/17/malaysias-unicorn-carsome-cutting-hundreds-of-jobs-to-reach-profit-report/", "page": 8, "title": "Malaysia\u2019s unicorn Carsome cutting \u201chundreds of jobs\u201d to reach profit \u2013 report", "contents": "Malaysia\u2019s first tech unicorn Quoting people familiar with the matter, The company has scaled down its operations significantly in those two markets, which it entered in 2017, the people added. It has about 4,000 employees. Carsome delayed its dual listing plans in Singapore and the US scheduled for last year on concerns that deteriorating macroeconomic conditions could dent its valuation. The company expects to Carsome \u201cmakes adjustments to its workforce where necessary,\u201d the company said in an emailed response to Carsome raised $290 million early last year at a valuation of $1.7 billion in a series E round led by the Qatar Investment Authority as well as 65 Equity Partners and Seatown Private Capital Master Fund, both of which are backed by Singapore\u2019s Temasek Holdings Pte. The round also saw participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome has become Malaysia\u2019s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia in July 2021. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia\u2019s OLX Auto and Carousell Auto Group. One of its rivals, Softbank-backed Carro, announced it has achieved profitability in its last financial year ended March 2022 (FY2022) as revenue more than doubled to S$650 million ($463.49 million). Founded in 2015, Carsome has expanded into Indonesia, Thailand and Singapore. The company works with more than 13,000 dealers and sold more than 150,000 cars last year. Malaysia\u2019s unicorn Carsome open to new funding, open to dual-listing \u2013 report"}, {"url": "https://technode.global/2023/11/16/deloitte-southeast-asia-raises-about-5-5-billion-year-to-date-the-lowest-in-eight-years/", "page": 9, "title": "Deloitte: Southeast Asia raises about $5.5 billion year to date, the lowest in eight years", "contents": "Southeast Asia has raised approximately $5.5 billion via initial public offering (IPO) in the first 10.5 months of 2023, the lowest in eight years, Deloitte said in a statement that the total IPO raised down from $7.6 billion in 2022. Meanwhile, the IPO amount for the first 10.5 months of 2023 stands at 153, also down from 163 in the full year of 2022. Indonesia, Thailand and Malaysia collectively raised approximately $5.4billion, accounting for 98 percent of the total funds raised across Southeast Asia. According to Deloitte, Southeast Asian companies are thriving and have the ability to go beyond their shores for cross border IPOs. This is driven by expectations of favorable valuations, enhanced liquidity, industry comparability, and investor familiarity with certain sectors. Correspondingly, it said stock exchanges across the globe are paying more attention to Southeast Asian companies and are establishing new initiatives or revamping existing ones to improve their appeal as gateways to attract these high growth businesses. Meanwhile, there is an observable trend of an increasing number of companies listing on the secondary boards of Southeast Asian bourses. It said listing on the junior boards of the stock exchanges, which cater to high growth small and medium enterprises (SMEs), may be seen as a springboard to the Main Board for some IPO aspirants. It also said the listed-company status may propel them towards business growth expansion and further fund raising. It also noted there are many small and medium-sized enterprises (SMEs) in Southeast Asia with good growth potential, and a good financial ecosystem can provide these companies with the right environment to thrive and maximize this potential. Overall, the energy, resources and industrials and consumer industries are two of the strongest in the Southeast Asian market. According to Deloitte, the push to pursue green technologies has created favorable conditions for companies in the energy, resources and industrials industry, which make up the top five listings in Southeast Asia in the first 10.5 months of 2023. As urbanization continues to shape consumer behaviour across Southeast Asia, there has also been a shift in the characteristics of companies in the consumer industry that are growing and seeking listings. \u201cThe challenge of sustaining a vibrant and attractive cash equities market is not unique to the Southeast Asian region,\u201d Tay Hwee Ling, Disruptive Events Advisory Leader, Deloitte Southeast Asia and Singapore. According to her, globally, the number of IPOs and IPO proceeds raised has normalized to pre-COVID-19 levels. She said this is driven by the trend of companies staying private for longer, and more recently, against the backdrop of a challenging global macroeconomic and interest rate environment. She noted that companies considering possible public listings have several commercial objectives in mind. While the regional bourses can think of innovative ways to attract listing candidates, she opined that there are limits to how their measures can directly influence listing decisions. She noted investors will ultimately determine how to allocate their capital based on their strategies and how they view the market. She also noted governments recognize the value of an attractive equities market as part of the overall financial services ecosystem and must constantly adapt to the shifts in global capital markets. On the outlook for the remaining year through to 2024, Tay said that amidst the more challenging macroeconomic environment, many stock exchanges are dealing with the trend of local Southeast Asian companies looking to list on large overseas markets to access a deep capital market and investor base, or where they perceive they can secure the best valuations. \u201cFor quite a few companies, listing in the United States is attractive due to the US\u2019 deeper pool of investors and liquidity,\u201cCompanies may choose to list in jurisdictions that give them better exposure to key target markets,\u201d she added. IndonesiaIndonesia saw 77 IPOs which raised $3.6 billion, making up half of the region\u2019s number of IPOs and 66 percent of the total IPO amount raised across the six exchanges. This makes it the fourth strongest stock exchange year-to-date in 2023 globally, behind only China, the United States and the United Arab Emirates. According to Deloitte, Indonesia has managed to sustain its momentum, even in the face of pandemic-related challenges that began in 2020, after it bounced back in 2021. It said this accomplishment underscores Indonesia\u2019s lasting attractiveness to investors, backed by its dedication to maintaining political and macroeconomic stability. Notably, Indonesia has made significant contributions to the Southeast Asian IPO market, with six Indonesian companies featuring among the top ten listings in Southeast Asia. \u201cA new trend is on the horizon, marked by the global shift towards the renewable energy and electric vehicle battery sectors,\u201d said Imelda Orbito, Disruptive Events Advisory Leader, Deloitte Indonesia. According to her, Indonesia has set its sights on becoming a global hub in the electric vehicle supply chain, and the country is exceptionally well-positioned to attract both foreign and domestic investors alike. \u201cNotably, the substantial number of IPOs originating from the renewable energy and metals/minerals sector hint at the potential for 2023 to be a standout year for the Indonesian Stock Exchange,\u201d she added. ThailandWith $1.06 billion raised through 37 IPOs thus far, Thailand is also the runner-up in the region, said Deloitte. The country\u2019s consumer industry continues to pave the way, making up approximately 40 percent of the regional funds raised and 38 percent of the number of listings originating from this sector. However, the country did not observe any blockbuster listings which were presented in 2022. The interest rate environment and political stalemate has also resulted in the withdrawal of approximately $4.8 billion from foreign investors in the first 10 months of 2023. \u201cWe continue to observe several IPOs from a diverse pool of industries on the Stock Exchange of Thailand, including fast-moving consumer products, life sciences & healthcare, and industrial products,\u201d said Wilasinee Krishnamra, Disruptive Events Advisory Leader, Deloitte Thailand. According to her, 2024 will be an exciting year as there are 38 companies in the listing pipeline. \u201cThere is one company with an effective filing, and 12 companies have already obtained approval from the Thai Securities and Exchange Commission,\u201cThe parliamentary endorsement of the new Prime Minister in August should bring stability and confidence to foreign investors after the resolution of the prolonged political stalemate,\u201d she added. Malaysia Deloitte data showed the Malaysian bourses saw 28 IPOs raising $715 million in the first 10.5 months of this year. Bursa Malaysia performed reasonably well, considering its target of 31 listings for the whole of 2023, said Deloitte. It is also notable that its IPO market capitalization for 2023 to-date has already surpassed that of 2022. Once more, the ACE Market dominated this year\u2019s IPO with 21 listings, while the improvement in the performance of the Main Market was encouraging. On the other hand, there was a slight dip in listings on the LEAP market, likely because companies were assessing the LEAP Transfer Framework before deciding on their listing. \u201cMalaysia\u2019s IPO market remains active, led by quality issuers that sustained or exceeded their market capitalization upon listing, and supported by active investor participation,\u201d said Wong Kar Choon, Disruptive Events Advisory Leader, Deloitte Malaysia. According to him, the listing requirements for the ACE Market are more accommodating towards companies with good growth propositions, and the lower ticket size of IPO offer shares continues to attract a steady flow of investor participation. He observed that, generally, IPOs with reasonable valuations generated strong interest from the market and a good majority continue to demonstrate decent post-IPO share price performance. \u201cThe capital market initiatives that have been announced further have also boosted market vibrancy and enhanced investors\u2019 access into the market,\u201cA formidable IPO pipeline is expected in 2024, buoyed by a healthy institutional and retail appetite, especially for consumer and tech or tech-related industries,\u201d he added. SingaporeSingapore saw five Catalist IPOs raising US$29 million in the first 10.5 months of this year, according to Deloitte. Singapore typically has some sizable Mainboard IPOs, real estate investment trusts (REITs) or special purpose acquisition companies (SPACs) bolstering its overall IPO performance, which were sorely missing this year. It is noted that REITs and Business Trusts have historically been the stronghold of the Singapore IPO market. However, with the uncertainties surrounding interest rates, REIT aspirants may adopt a wait-and-see approach and postpone their listing plans. Out of the three SPACs that were listed in early 2022, Temasek-backed Vertex Technology Acquisition Corporation (VTAC), may become the first SPAC to acquire a target firm. It is noted that VTAC has inked a deal to buy Taiwanese live-streaming platform 17Live for over $900 million. The conditional sale and purchase agreement is subject to approval by VTAC\u2019s shareholder and SGX. Deloitte noted that when that happens, the market may see more SPACs coming on board. \u201cWhile the Singapore IPO market may appear subdued this year, it is important to note the wealth of high-calibre Singaporean companies ready to explore cross-border listings on global exchanges,\u201d said Darren NG, Disruptive Events Advisory Deputy Leader, Deloitte Singapore. According to him, the companies are also enjoying international recognition for their robust business fundamentals. \u201cThe comprehensive economic infrastructure and initiatives by the Singapore government in conjunction with SGX provides an ideal platform for companies aspiring to go public,\u201cSingapore, with its political stability and strong regulatory environment, sets the stage for unprecedented capital inflows, acts as a strategic bridge between United States and China, and is the regional headquarter of choice for numerous funds and family offices,\u201d he added. VietnamVietnam saw only three IPO listings raising approximately US$7 million in the first 10.5 months of 2023, according to Deloitte. The low number of IPOs was driven mainly by the tightened IPO and listing approval process, and higher net-withdrawal from foreign investors due to global and local factors affecting its market liquidity in 2023. These unfavorable conditions, coupled with Vietnam\u2019s falling VN-index performance since the first half of 2022, resulted in IPO aspirants delaying their IPO plans and waiting for the right moment to list. \u201cAlthough Vietnam\u2019s stock indexes have recovered towards the end of 2023, it is still far from the 2021 and early 2022 peak,\u201cNevertheless, the Vietnam government has introduced several measures to stimulate the economy and initiatives to improve the ratings of the Vietnam stock market to bolster investors\u2019 confidence going into 2024,\u201d said Van Trinh Bui, Assurance Leader, Deloitte Vietnam. Southeast Asia\u2019s IPO market remains investor favorite amid global economic uncertainties, Deloitte says"}, {"url": "https://technode.global/2023/11/16/myeg-and-yayasan-chow-kit-join-hands-to-prepare-youth-for-the-web3-era/", "page": 9, "title": "MYEG and Yayasan Chow Kit join hands to prepare youth for the Web3 era", "contents": "MY E. G. Services Berhad (MYEG)MYEG said in a statement on Tuesday that in collaboration with YCK, the firm conducted a Digital Literacy Workshop for youth aged 13-17 years old, aimed at empowering them with essential digital skills and basic artificial intelligence (AI) knowledge. According to the statement, the workshop covered topics such as safe internet practices, information evaluation, and the creation and sharing of digital content. The curriculum was tailored to be simple to comprehend, ensuring that participants could easily grasp complex concepts such as cybersecurity, digital ethics, and the basics of AI, and to spark an early interest in technology that could inspire future learning. The goal of the workshop is to prepare and upskill young individuals from different backgrounds with fundamental digital knowledge and skills, enhancing their career prospects while fostering personal growth and development that is beneficial for their future. Furthermore, it also plays a vital role in safeguarding these youth from rising cyber threats, such as scams and fraud, ensuring their safety. This effort is a step towards ensuring that all Malaysian youth have the opportunity to become competent digital citizens as we move into the Web3 era. Cited a study conducted by McKinsey & Co, MYEG said AI is anticipated to contribute up to $13 trillion to the global gross domestic product (GDP) by 2030, with the majority of these economic gains stemming from advancements in the workforce. Additionally, the study highlights that AI is poised to generate millions of new jobs, particularly in high-skilled sectors such as engineering, healthcare, and data science. \u201cAt MYEG, we help digitalize government services and build next generation applications with AI and blockchain technology,\u201d said Mohd Rushdan Khairul Anuar, information technology (IT) Director of MYEG. \u201cAs we make technology an integral part of our daily lives, we want to help bright young minds from different backgrounds gain access to the same digital knowledge as everyone else, \u201cWe are here to provide the necessary tools and support to help level the playing field so that every child can develop the skills they need to navigate the future,\u201d he added. YCK Program Coordinator Jamil Ishak said that education is the key to progress and the most powerful tool the organization has for making a meaningful impact on the world. \u201cWe appreciate MYEG\u2019s support in delivering this workshop, which has helped equip our youth with fundamental digital competencies, \u201cWe want the best for them, and we understand that these fundamental skills are not just for navigating the current digital landscape, but are instrumental to their future success in an increasingly digitized global economy,\u201d he added. According to the statement, Malaysia has demonstrated progress in fostering digital inclusion, witnessing a significant rise in household internet access from 76 percent to 97 percent in urban areas and from 49 percent to 89 percent in rural areas between 2015 and 2022. Despite these advancements, it said there remains a concern outlined in the e-Conomy Southeast Asia 2023 report, a collaborative effort by Google, Temasek, and Bain and Company. Cited the report, it said the potential widening of the digital economic divide beyond metropolitan regions, posing a risk to the active engagement of consumers in the digital economy across various sectors. MYEG opined that addressing this issue is crucial, as it could impede Malaysia\u2019s digital economy from realising its full potential, estimated at a $30 billion gross merchandise value by 2025. Cited the report, it said Malaysia can unlock the full scope of its digital economic growth by removing existing barriers. Recognizing the significance of this challenge, it said the Malaysian government is already measuring and tackling the digital divide. It noted that the Mid-Term Review of the 12th Malaysia Plan (12MP MTR) unveils the development of the Malaysia Digital Inclusiveness Index (MyDID). This index aims to empower policymakers with insights into the extent of the digital divide, enabling them to craft targeted strategies for resource allocation and talent development. In addition, it said the report also underscores the government\u2019s commitment to enhancing digital literacy and fostering trust in digital adoption, with a specific focus on vulnerable groups. In response to these goals, it said the government plans to roll out programs and initiatives designed to uplift digital literacy and improve accessibility for these marginalised segments of the population. MYEG is a Malaysia digital services company.  Having commenced operations in 2000 as the flagship e-government services provider, the firm brings solutions spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive, healthcare and financial services. The firm has also recently embraced the potential of blockchain technology. It has operations in key regional markets such as the Philippines and Indonesia. MYEG partners Beitou IT Innovation to spearhead international digital identity credentials service on Zetrix blockchain"}, {"url": "https://technode.global/2023/11/16/us-silicon-battery-company-enovix-builds-1-2b-high-volume-manufacturing-facility-in-malaysia/", "page": 9, "title": "US silicon battery company Enovix builds $1.2B high-volume manufacturing facility in Malaysia", "contents": "Enovix CorporationThis marks a significant milestone in the company\u2019s global expansion strategy, Enovix said in a statement on Wednesday. Further to the initial announcement in August 2023, Enovix said the firm will invest over a period of 15 years, which includes the first manufacturing line amounting to MYR 315 million ($70 million), which will co-partner with Malaysia-based machine industry company YBS International Berhad. Zafrul Tengku Abdul Aziz, Minister of the Ministry of Investment, Trade and Industry (MITI) MITI, said Enovix\u2019s strategic decision to establish its first high-volume manufacturing facility in Malaysia signifies the country\u2019s appeal as a preferred investment destination in Southeast Asia for advanced technology companies. \u201cEnovix\u2019s establishment of its hi-tech battery technology facility in Malaysia is in perfect alignment with the missions of our New Industrial Master Plan (NIMP) 2030, and promises significant local spillover impact, notably the creation of substantial high-quality job opportunities for Malaysians, and the enhancement of our nation\u2019s industrial landscape,\u201d he added.  Meanwhile, Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA) said the Enovix\u2019s presence in Malaysia will act as a catalyst for nurturing mutually advantageous partnerships with local stakeholders, especially in the battery technology industry. \u201cAs Enovix lays down its foundations in Malaysia, we foresee its transformation into a key industry collaborator and contributor to our economic progress and development, \u201cEnovix\u2019s investment in Malaysia is a testament to the company\u2019s trust in our capabilities and workforce, and fortifies Malaysia\u2019s research and development ecosystem,\u201d he added. Ajay Marathe, Chief Operating Officer of Enovix, said Malaysia\u2019s deep pool of technical talent, business-friendly environment and close proximity to the firm\u2019s vendors and customers\u2019 manufacturing facilities, makes it an ideal location for them to help develop the battery supply chain ecosystem and manufacture and scale their next-generation batteries. Enovix is headquartered in the United States of America with locations in India, Korea and Malaysia. Enovix\u2019s battery technology application extends to internet of things (IoT), mobile, computing devices and vehicle. The firm is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. Enovix Malaysia Sdn. Bhd is currently in the process of machinery installation and is projected to initiate full operations in 2024. Bosch invests $384M for new semiconductor backend site for chips in Malaysia"}, {"url": "https://technode.global/2023/11/16/malaysian-government-and-google-announce-strategic-collaboration/", "page": 9, "title": "Malaysian government and Google announce strategic collaboration", "contents": "The government of Malaysia and global tech giant Google said in a statement that the collaboration brings both parties together to help businesses of all sizes advance their digital competitiveness through skilling programs, investment in digital infrastructure, responsible artificial intelligence (AI) innovation, and cloud-first policies. These initiatives build on Google\u2019s investments in Malaysia over the last 12 years. In 2022 alone, the company\u2019s products and programs supported more than 47,900 jobs and also contributed, both directly and indirectly, an estimated $2.8 billion in economic benefits to local businesses. \u201cMalaysia\u2019s MADANI Economy Framework aims to increase the size of our economic pie, as well as ensure that all stakeholders\u2014particularly rakyat (Malaysians) and small businesses\u2014will enjoy the ensuing socio-economic benefits, \u201cThis latest commitment by Google, aimed at accelerating local innovation and talent development in the field of AI, will certainly boost the nation\u2019s digital competitiveness, in line with the MADANI Economy Framework and the New Industrial Master Plan 2030 (NIMP 2030),\u201d said Anwar Ibrahim, Prime Minister of Malaysia. Meanwhile, Zafrul Aziz, Minister of Investment, Trade and Industry, said Google\u2019s continued contributions to the Malaysians and homegrown businesses, especially through programs that nurture skilled talent and help small businesses scale regionally, not only support the achievement of NIMP 2030\u2019s missions, but also enhance Malaysia\u2019s overall global competitiveness to foreign investors. Ruth Porat, President and Chief Investment Officer, Chief Financial Officer, Alphabet and Google, said the partnership they are announcing with the government of Malaysia aligns Google\u2019s local mission of Advancing Malaysia Together with the government\u2019s goal to create a supportive ecosystem for innovation that includes more meaningful and equitable job opportunities. To advance these shared goals, she said the firm intends to assist Malaysian organizations in addressing real-world challenges using AI, and utilizing Google Cloud technologies to rapidly implement solutions for economic growth and public good. \u201cAs the country makes strides toward digitalization and AI adoption across industries, this collaboration recognizes the importance of no-cost access to digital skilling programs to empower all Malaysians to participate in a thriving and inclusive digital economy,\u201d she added. To provide Malaysians from all backgrounds with more digital training opportunities, Google Cloud, CloudMile, and Trainocate are making five digital learning paths available at no cost. Accessible through the Go Cloud program\u2014which aims to upskill 300,000 Malaysians by 2026\u2014the learning paths consist of online courses to help individuals better apply generative AI (gen AI), data analytics, and cloud-based productivity tools. Learners who complete the five learning paths will earn digital skills badges that they can share on their resumes and extended 30-day access to more learning paths at no cost. This builds on Gemilang, a digital training program that has provided 31,000 Google Career Certificate scholarships to less fortunate individuals in partnership with educational institutions and nonprofits. This helps Malaysians earn professional certifications\u2014at no cost\u2014for entry-level jobs in high-demand fields such as data analytics; information technology (IT) support; as well as e-commerce and digital marketing. According to the statement, Google\u2019s investments in infrastructure play a critical role in enabling more local companies, including small and medium-sized enterprises (SMEs), to expand their operations regionally. This is in alignment with the NIMP 2030, whose mission includes ensuring that Malaysian SMEs and manufacturing companies are appropriately enabled to embrace technology and digitalization rapidly. With the support of the government of Malaysia, Google is now exploring the potential establishment of an in-country Google data center to power digital services. The Malaysian government and Google Cloud will also embark on joint AI launchpad initiatives to create new jobs, enhance public service delivery, and help local companies tap into global markets. These may include empowering public and private sector organizations to address real-world challenges with gen AI and take advantage of Google Cloud technologies to rapidly deploy scalable solutions for productivity gains and public good. Priority areas include improving digital government services, financial inclusion, healthcare, and education, and advancing Industry 4.0. The initiatives also include digitalization projects to keep communities safe from natural disasters and make low carbon mobility more accessible for Malaysians. The projects will look to leverage Google Cloud\u2019s AI capabilities to prompt decisions to, for example, divert traffic or evacuate people ahead of an extreme weather event, recommend investment locations for more electric vehicle (EV) charging stations, enable lower-cost smart charging for users, and build a scalable energy exchange to support renewable energy exports, in alignment with Malaysia\u2019s National Energy Transition Roadmap. The initiatives also include protecting public sector entities, businesses, and citizens against malicious cyber activity. The Malaysian government and Google Cloud will engage in cyber threat information exchange and joint capability building, in view of potentially establishing a National CyberShield Center of Excellence. This will enable the government to combine automation, analytics, threat intelligence, and AI to detect, investigate, and defend against cyber attacks on critical national infrastructure. Google will also support the Malaysian government\u2019s refinement of its existing Cloud First Policy for Malaysia, contributing policy expertise and its Secure AI Framework to account for the latest advancements in cloud computing and AI. This reinforces Malaysian government\u2019s efforts to prioritize the use of resilient, cost-efficient, and innovation-driven cloud services over capital-intensive on-premise systems, while aligning with global best practices on data privacy and security standards. Malaysia Airports, Asia Mobiliti enter strategic collaborations with Google Cloud to enhance travel experiences in Malaysia"}, {"url": "https://technode.global/2023/11/15/asahi-kasei-gentari-and-jgc-team-up-for-green-hydrogen-production-in-malaysia/", "page": 9, "title": "Asahi Kasei, Gentari, and JGC team up for green hydrogen production in Malaysia", "contents": "Gentari Hydrogen Sdn Bhd, a wholly-owned subsidiary of Petronas\u2019 clean energy arm Gentari said in a statement on Wednesday that the parties also signed a memorandum of understanding (MOU) for a front-end engineering design (FEED) study for the said project. According to the statement, this project is supported by the Green Innovation Fund for Large-scale Alkaline Water Electrolysis System Development and Green Chemical Plant Project by Japan\u2019s New Energy and Industrial Technology Development Organization (NEDO). Pursuant to the MOU, the parties are preparing for the FEED study to commence in January 2024. The operation is planned for start-up in 2027. This collaboration between Asahi Kasei, Gentari, and JGC will advance the deployment of a 60 MW class water electrolyser paired with an integrated control system to produce green hydrogen. This commercial-scale project demonstrates the companies\u2019 commitment to fostering markets for green hydrogen and establishing a foundation for regional green hydrogen production, aligning with the broader mission of decarbonization in Japan, Malaysia, and across Southeast Asia. \u201cWe are pleased to collaborate with these two companies on a project that will demonstrate to the world the practical application of green hydrogen, \u201cAsahi Kasei\u2019s experience from demonstration experiments in Germany and managing a 10 MW electrolyser in Japan for over three years will play a pivotal role in this project\u2019s success,\u201d said Nobuko Uetake, Lead Executive Officer of Asahi Kasei and Senior General Manager of its Green Solution Project. Meanwhile, Gentari\u2019s Chief Hydrogen Officer Mich\u00e8le Azalbert said that this strategic collaboration between Gentari, Asahi Kasei, and JGC, amplifies value for all involved. \u201cThe project stands as a catalyst for advancing Malaysia\u2019s hydrogen economy towards achieving its green hydrogen target of 200,000 tonnes per year by 2030, aligning with the National Energy Transition Roadmap and Hydrogen Economy and Technology Roadmap,\u201cBeyond this, Gentari is developing hydrogen projects with national and state entities to position Malaysia as the region\u2019s leading hydrogen hub, leveraging PETRONAS assets and the country\u2019s strategic advantages,\u201d she added. Masahiro Aika, Senior Executive Officer, Technology Commercialization Officer and General Manager, Sustainability Co-creation Unit of JGC, said that JGC Group is currently constructing a demonstration facility of clean ammonia production adjacent to Asahi Kasei\u2019s electrolyser at Namie-machi, Fukushima Prefecture, Japan, together with an integrated control system. \u201cWe look forward to applying the lessons learnt from the demonstration and to utilising its technical outcomes toward the execution of this project in Malaysia,\u201d he added. Gentari partners AM Green to drive large-scale green hydrogen production with global reach"}, {"url": "https://technode.global/2023/11/14/malaysias-iskandar-investment-berhad-launches-net-zero-carbon-central-business-district/", "page": 9, "title": "Malaysia\u2019s Iskandar Investment Berhad launches Net Zero Carbon Central Business District", "contents": "Malaysia-based IIB said in a statement on Tuesday that the Net Zero Carbon CBD is aimed at solidifying IIB\u2019s leadership in establishing the first net zero carbon CBD in the ASEAN region. According to the statement, by 2030, IIB is looking to achieve a target investment of MYR 9 billion ($1.91 billion). This number is expected to grow incrementally about 13 per cent every five years. It is also noted that the total amount of population for this CBD is expected to reach around 65,000 by 2030 against the total population of more than 600,000 people working and living in Iskandar Puteri. \u201cWe expect the population to grow significantly by 2050, thereby creating a more robust socio economic condition for the people in Medini and by extension Iskandar Puteri,\u201d  said Idzham Mohd Hashim, President and Chief Executive Officer of IIB.  \u201cWe believe that our efforts will be produce a multiplier effect for the state of Johor, and Malaysia as a whole, \u201cThis multiplier effect would in turn result in improved gross domestic product (GDP), employment rate, growth in foreign investments and accelerate Malaysia\u2019s goal to becoming a high income and fully developed nation,\u201d he added. Meanwhile, Johor Chief Minister Onn Hafiz said that the state is fully committed to supporting and facilitating the successful implementation of these initiatives that is aligned with Johor\u2019s aim to achieve a 7 percent of gross domestic product (GDP) growth, valued at MYR 260 billion ($56.11 billion) by 2030. \u201cI look forward to seeing these transformative efforts take place as it will undoubtedly elevate Johor\u2019s attraction as the preferred investment destination within the region,\u201d he added. According to the statement, IIB also inked a memorandum of understanding and a collaboration agreement with Malayan Banking Berhad (Maybank) and Malaysia Green Technology and Climate Change Corporation MGTC (MGTC) respectively. \u201cOur most recent collaboration with Maybank is to establish the net zero central business district in Medini by integrating sustainable transition support and nature-based solutions (NbS) into various aspects of Medini,\u201d said Idzham. It is noted that Maybank is IIB\u2019s first financial institution partner in the journey towards realizing the Net Zero Carbon CBD in Medini.  \u201cThis nature-based solutions (NbS) project will set a benchmark for Malaysia in preserving land, generating carbon credits, and creating green jobs for local communities,\u201d said Khairussaleh Ramli, Maybank Group President and Chief Executive Officer. According to him, participating in this collaboration advances Maybank\u2019s M25+ strategic goals, underscoring its commitment to support clients in Malaysia and across ASEAN to decarbonize and progress toward a just transition. Apart from Maybank, IIB also signed a collaborative agreement with MGTC on programs ranging from green jobs, green economic growth, green lifestyle, green technology financing, climate change mitigation to net zero strategies.  MGTC Group Chief Executive Officer Ts Shamsul Bahar Mohd Nor said that this strategic partnership with IIB includes becoming the key advisory panel in their sustainable development of Medini Central Business District and Iskandar Puteri. \u201cMGTC has been driving the Low Carbon Cities initiative, which taps into the urban area,\u201cThis collaborative effort is imperative to drive sustainable development and promote a green economy, ultimately paving the way for a more resilient future,\u201d he added. MGTC is an agency of the Ministry of Natural Resources, Environment and Climate Change (NRECC) mandated to drive the country in the scope of Green Growth, Climate Change Mitigation and Green Lifestyle. According to the statement, collaborations and partnerships are key to IIB\u2019s ecosystem building initiatives which provides support in the five main areas of funding, market access, mentorship programs, business services and access to talents. IIB previously kick started the annual Match@Medini pitching session with partners in a bid to set up a dynamic platform for tech start-up. In June this year, IIB signed collaboration agreements with seven different partners in the sustainable electric vehicle (EV) industry, to promote use of electric vehicles (EVs) and renewable energy solutions in Iskandar Puteri. The collaboration brings together notable industry players such as Nano Malaysia Bhd, Handal Indah Sdn Bhd, Handal Green Mobility Sdn Bhd, Kumpool Sdn Bhd, Yinson Green Technologies (M) Sdn Bhd, GO TO U (M) Sdn Bhd, and UN Global Compact Network Malaysia and Brunei (UNGCMYB).   It is noted that sustainable electric vehicles (EVs) are part of IIB\u2019s mobility pillar. IIB have also outlined five strategic verticals in our roadmap to achieve carbon neutrality via the five pillars namely energy, waste, water, green building and mobility as its key ESG initiatives.  \u201cThe advent of EVs is seeing quick expansion globally. IIB intends to support the expansion of EVs as well as Avs (autonomous vehicles), hydrogen powered vehicles, zero emission door to door travel with relevant infrastructure and industry-wide collaborations, \u201cCycling and pedestrian paths will play a significant role in IIB\u2019s pledge to ESG,\u201d explained Idzham. Malaysia launches i-ESG Framework to tap into $12T global market on ESG-focused opportunities"}, {"url": "https://technode.global/2023/11/14/malaysias-yinson-greentech-completes-construction-of-the-hydroglyder-prototype/", "page": 9, "title": "Malaysia\u2019s Yinson GreenTech completes construction of the Hydroglyder prototype", "contents": "Malaysia-based energy firm Yinson Holdings Berhad (Yinson)\u2019s green technologies business unit The vessel is to provide the crew transfer services within the Singapore harbor craft segment that is fully built and integrated in Malaysia, YGT said in a statement on Monday. According to the statement, the Hydroglyder is equipped with advanced hydrofoil system, which provides better energy efficiency as compared to traditional electric vessels of the similar size. The onboard batteries provide power to propel the vessel while the flight control system maintains the stability ofThe vessel will debut in Singapore to start its sea trials and aims to contribute to the achievement of the country\u2019s decarbonization goals. The Hydroglyder will be the first vessel of its kind within the Singapore harbor craft market, providing a more efficient and environmentally-friendly alternative to current crew transfer vessels. \u201cI am proud that Malaysia was selected for the Hydroglyder prototype\u2019s assembly and construction, demonstrating the country\u2019s ability to deliver worldclass, technologically advanced engineering projects, \u201cThis aligns well with the National Transport Policy that aims to enhance Malaysia\u2019s economic competitiveness by developing a skilled workforce, fostering a conducive business environment, and facilitating trade and investment,\u201d said Malaysia\u2019s Minister of Transport Loke Siew Fook. Meanwhile, Yinson Group Chief Executive Officer Lim Chern Yuan said that the Hydroglyder prototype will be a game changer and is a prime example of the firm\u2019s commitment to transform the maritime industry. \u201cI would like to express our appreciation for the Malaysian government\u2019s forward-thinking policies that have provided a progressive and stable environment for innovation, which is particularly instrumental in developing prototype green technologies,\u201d he said. YGT Chief Executive Officer Eirik Barclay said that the Hydroglyder prototype is a major milestone in the firm\u2019s quest to reduce the maritime industry\u2019s carbon footprint, reduce local particulate air pollution and prepareAccording to him, collaboration with like-minded partners has been crucial to the successful completion of this prototype. \u201cSpecial mention to Ctruk Boats, whose expertise in composite material technology allowed us the full flexibility to modify the vessel\u2019s design as needed during the construction process, \u201cWe also hope that the project has contributed to the nurturing of local talent and industrial capabilities,\u201d he added. OCBC Malaysia Head of Wholesale Banking Jeffrey Teoh said that the bank is proud to support this project, the first electric prototype vessel of its kind to be built in Malaysia and one which has the potential to revolutionize the maritime industry. As a partner that supported the development of this innovative foiling crew transfer vessel, the Hydroglyder prototype, he said the firm hopes marinEV in continuing its sea trials and commercialization process in Singapore. YGT which has businesses in offshore production, renewable energy, green technologies and offshore marine, has presences in 18 countries. The firm was established in 2020 as a green technologies solution provider delivering a clean, integrated and technology-enhanced ecosystem across the marine, mobility and infrastructure segments. The business unit invests in novel green businesses, research and development (R&D) and strategic partnerships to develop integrated smart green assets and infrastructure. It aims to create a proprietary digital marketplace that provides affordable and accessible tech-based low carbon products and services to help businesses and communities achieve their own net zero ambitions. Its strategic investments currently include an advanced hydrofoil system for electric vessels, e-bike and swappable batteries, autonomous and robotic technology, autonomous systems for electric vehicles, marine energy storage solutions and electric vehicle charging solutions. Yinson GreenTech inks partnership with Pos Malaysia to launch EV charging stations"}, {"url": "https://technode.global/2023/11/14/malaysias-sme-corp-allocates-1-27m-to-bumiputera-youth-entrepreneurs/", "page": 9, "title": "Malaysia\u2019s SME Corp allocates $1.27M to Bumiputera youth entrepreneurs", "contents": "SME Corporation Malaysia (SME Corp. Malaysia)Funding Societies said in a statement on Tuesday that the funding which is under the newly launched program, Bumiputera micro, small and medium-sized enterprises (MSMEs) Financing Initiative (BMFI), is aimed at enhancing access to financing for MSMEs who participated in SME Corp. Malaysia\u2019s Tunas Usahawan Belia Bumiputera (TUBE) program. Funding Societies, as the appointed Financial Partner, will extend its digital financing solutions to the young entrepreneurs through their Tunas Financing-i program. \u201cThe specific allocation for Bumiputera youth entrepreneurs under the BMFI is befitting due to their important role with regard to the MADANI Economy framework\u2019s goal in achieving balanced, inclusive and sustainable growth,\u201d said Rizal bin Nainy, Chief Executive Officer of SME Corp. Malaysia. \u201cWe hope to leverage on this partnership with Funding Societies to provide innovative and quick short-term financing solution for Bumiputera MSMEs through digital platform, in addition to existing government funding, \u201cHence, it is envisaged that more Bumiputera MSMEs will take advantage of this initiative to address their financing needs, especially in working capital,\u201d he said. Meanwhile, Chai Kien Poon, Country Head, Funding Societies Malaysia, said that collaborating with SME Corp. Malaysia marks a key milestone in their journey to foster the growth and resilience of Bumiputera MSMEs. According to him, this partnership is a testament to the firm\u2019s shared vision of equipping these dynamic entrepreneurs with the financial assistance they need to thrive and contribute to the nation\u2019s economy. \u201cMicroenterprises and youth entrepreneurs play a significant role in realising a more inclusive, sustainable, and balanced growth vision for our country. Yet, they face persistent challenges in obtaining access to financing, often due to a lack of collateral and credit history, \u201cAs a leading digital financing platform in the region with a proven track record of promoting financial inclusion among MSMEs, we are honoured to have the opportunity to work with SME Corp. Malaysia in further empowering these young entrepreneurs,\u201d he added. SME Corp. Malaysia is the central coordinating agency (CCA) that coordinates the implementation of development programs for MSMEs across all related ministries and agencies. It acts as the central point of reference for research and data dissemination on SMEs and entrepreneurs, as well as provides business advisory services for MSMEs and entrepreneurs throughout Malaysia. Funding Societies | Modalku is a fintech firm registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. It is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to small and medium-sized enterprises (SMEs), which are funded by individual and institutional investors. Funding Societies raises $7.5M in debt from Norfund"}, {"url": "https://technode.global/2023/11/14/jcorp-invests-1-74-million-into-singapore-based-agritech-firm-archisen/", "page": 9, "title": "Malaysia\u2019s JCorp invests $1.74 million into Singapore-based agritech firm Archisen", "contents": "Malaysia-based state investment firm The duo said in statement on Tuesday that FarmByte, a digital-first agrofood company within the JCorp, has signed a heads of agreement (HOA) with Archisen, proposing the FarmByte investment into Archisen and the establishment of an automated vertical indoor farm through a joint venture in Johor, Malaysia. This follows the signing of a memorandum of understanding in August 2023, which formalized the collaboration to establish this groundbreaking joint venture in urban farming. According to the statement, the joint venture will develop vertical farms that will supply produce to Malaysia and Singapore. FarmByte and Archisen will combine their resources, technical expertise, and network to achieve this goal. FarmByte will provide the farming infrastructure and critical local market insights, while Archisen will supply the technical knowledge on indoor farming practices, including the use of automation systems and data analytics. Additionally, Archisen will facilitate comprehensive training for FarmByte\u2019s employees. Established earlier this year as part of the JCorp Agrofood Strategic Plan, FarmByte was created to enhance Johor and Malaysia\u2019s food security agenda. Adopting a digital-first strategy, FarmByte aims to transform the agrofood sector by integrating the ecosystem and elevating the livelihoods of farmers with the production of high-quality produce. \u201cWe are excited to advance our collaboration with Archisen, underscoring our dedication to a digital-first approach in revolutionizing Malaysia\u2019s agrofood sector,\u201d said Syed Aiman Kifli Syed Jaafar, Chief Executive Officer of FarmByte Sdn Bhd. \u201cOur joint efforts will bolster vertical farming capabilities in Johor, leveraging the expertise of an established partner in urban solutions to guarantee food resilience for the country and beyond, \u201cThe HOA represents another significant milestone in propelling Johor\u2019s agrofood sector toward a more food secure future,\u201d he added. Meanwhile, Archisen Chief Executive Officer Vincent Wei said that through technology, the firm can optimize food production using fewer resources, enhancing its food resilience while minimizing its environmental impact. \u201cWe are thrilled to collaborate with FarmByte, which shares our commitment to improving farming efficiency through innovation and technology, \u201cTogether, we hope to bring the advantages of vertical farming to Johor and Malaysia, contributing to the region\u2019s food security and sustainable living,\u201d he added. Archisen is a agritech company that designs, builds, and operates solutions to grow ultra-fresh, ultra-local produce in cities. It operates one of the highest yielding indoor farms in Singapore, with a projected yield of up to 100 tonnes of vegetables a year. Today, Archisen provides quality products to leading retailers in Singapore through its flagship brand, Just Produce. It is also a firm in Singapore that provides a comprehensive farm management solution for partners through its turn-key urban farm solution, Cropdom. Singapore\u2019s agritech firm Archisen eyes expansion to cities in APAC & Middle East while expanding capacity at home market"}, {"url": "https://technode.global/2023/11/14/grab-backed-gxbank-unveils-beta-bank-app/", "page": 9, "title": "Grab-backed GXBank unveils beta bank app", "contents": "GX Bank Berhad (GXBank)This comes after successfully testing the beta app amongst employees of the bank and partners, GXBank said in a statement on Tuesday. As the first digital bank to commence operations in Malaysia, the GXBank App boasts a clean and easy navigation interface with key safety functions to secure users\u2019 trust and security. Each step of the app building process is in line with regulatory expectations and norms, to ensure it is in line with the technical requirements of a digital bank and prioritizing the safety and security of users\u2019 data and funds. Fadrizul Hasani, Chief Technology Officer of GXBank, shared that the beta app is a product of an inter-company, multi-team collaboration and customers feedback. According to him, the bank leveraged the combined learnings from its partners, their techstack and their deep understanding of their customers to develop something it hopes will address the needs of Malaysians. \u201cWith their support and knowledge, we have built a convenient, seamless, fuss-free and secure digital banking app, compatible with all mobile phones with the latest operating system,\u201cThis enables us to offer digital banking services to users of all financial capabilities and tech understanding,\u201d he added. During the beta-testing phase, users will be able to create a GXBank Savings Account and up to ten \u201cPockets. \u201d\u201cPockets\u201d are savings goals to encourage users to cultivate a saving behavior for specific needs and dreams. Users can save up for a variety of purposes such as their retirement plan, an upcoming holiday or even for a new home. Money parked in \u201cPockets\u201d will earn daily interest of up to 3 percent per annum, and users can monitor their savings progress and receive periodic tips to fast-track their savings goals. Asides from being licensed by Bank Negara Malaysia, GXBank is also protecting and earning users\u2019 peace of mind by assuring all deposits are protected by Perbadanan Insurans Deposit Malaysia (PDIM), up to MYR 250,000 ($52,938) for each depositor. It is also enabling users to lock and secure their accounts if they observe any fraudulent or unauthorised transactions, and limiting daily spending to help users not overspend. Other benefits users can enjoy are MRY 20 ($4.24) cashback with a minimum deposit of MYR 100 ($21.18); waiver on MYR 1 (0.21) processing fee for cash withdrawals at MEPS automated teller machines (ATMs) nationwide (coming soon); unlimited cashback every time they spend with our debit card (coming soon). GXBank Chief Executive Officer, Pei Si Lai shared that this is just the beginning of a whole suite of financial services, products and benefits GXBank has lined up to help Malaysians achieve and reclaim their financial independence and goals. \u201cAs we continue to test the stability of our app and gather feedback from users, we hope to develop a digital banking experience and app that is uniquely tailored to the financial needs of Malaysians of all generations,\u201d she said.  As a bank built predominantly by Malaysians, she said the bank is uniquely positioned to understand and develop financial solutions that address the needs and challenges of the everyday Malaysian. \u201cWe are one step closer to our nation\u2019s vision of a financially resilient country where Malaysians can have equitable access to financial products that cater to their individual needs, without the intimation and hassle of elaborate paperwork, processes and jargon,\u201cWe are honored to be entrusted by Bank Negara Malaysia to help Malaysians achieve their financial dreams, regardless how big or small \u2013 all with a few simple taps on their mobile device, tucked in their physical pockets,\u201d she added. GXBank is Malaysia\u2019s digital bank that commenced operation on September 1, 2023. With a workforce of more than 95 percent Malaysians from both the finance and technology sectors, the bank aims to disrupt the current banking industry with customized innovative solutions that empower Malaysians to be financially resilient and support their financial goals. Powered by Grab, GXBank is a subsidiary of GXS Bank Pte. Ltd. , \u2013 the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Limited (Singtel) \u2013 and a consortium of other Malaysian investors, including Kuok Group. Grab-led digibank GXBank becomes first to get Malaysia central bank\u2019s approval to commence operations"}, {"url": "https://technode.global/2023/11/09/mranti-opens-autonomous-vehicle-experimental-lab-to-accelerate-malaysias-mobility-sector-development/", "page": 10, "title": "MRANTI opens autonomous vehicle experimental lab to accelerate Malaysia\u2019s mobility sector development", "contents": "Malaysian Research Accelerator for Technology & Innovation (MRANTI)MRANTI said in a statement that MRANTI AV XL is a center of excellence for testing and research in AVs and next-generation vehicles (NxGVs) designed to accelerate the development of Malaysia\u2019s mobility sector. Following discussion with industry, government agencies and stakeholders, the experiential lab represents a comprehensive approach based on the principles of human-centered innovation and designed for co-creation, adaptability and responsiveness. \u201cThis effort is supportive of the National Automotive Policy (NAP 2020) which includes objectives such as the creation of AV test sites and promoting NxGVs,\u201d said Chang Lih Kang, Minister of Science, Technology and Innovation. \u201cIn addition, it is also an initiative that can improve efficiency and reduce carbon emissions in the future, \u201cMRANTI AV XL which is the largest AV technology testing and verification site in the country,\u201d he added. MRANTI AV XL comprises a 12-km marked test route and enclosed multi-storey car park, a digital twin for virtual testing prior to physical deployment, 5G network coverage and infrastructure for ultra fast data cellular transmission. Efforts are also underway to offer an AV simulator and the MRANTI Deploy AV-as-a-Service Certification which aims to be the base reference for the national adoption and deployment of AVs on Malaysia\u2019s roads depending on the approval of the relevant parties. \u201cOur vision for this one-stop AV XL is to provide innovators, corporates, researchers, and companies the support they need to rapidly explore, test, validate and evolve solutions in a controlled environment,\u201cMRANTI AV XL is capable of hosting multiple scenarios at any stage of the research and development (R&D) commercialization and innovation (C&I) lifecycle and by bringing these key AV players together on this platform, we hope to fast-track the development of the industry and drive the future of mobility in Malaysia and the region,\u201d Chang added. During the launch, eight AV research projects were announced with partners \u2013 University of Nottingham Malaysia, NanoMalaysia, and the Energy Research Institute at Nanyang Technological University Singapore which manages the Centre of Excellence for Testing & Research of AVs (CETRAN). MRANTI is working closely with industry partners \u2013 Malaysian Institute of Road Safety Research (MIROS), Malaysia Automotive, Robotics & IoT Institute (MARii) and Futurise as well as other regulators and relevant government agencies to gear the industry forward. \u201cMRANTI Park is leading the way as Malaysia\u2019s first 5G-enabled innovation park, featuring a 5G Experience Center, \u201cBeing 5G infrastructure-ready means the park community, innovators and researchers benefit from communication efficiency (higher data rates, lower latency), connection density (reliability, availability and coverage) and position accuracy (higher user mobility),\u201d said Datuk Rais Hussin, Chief Executive Officer of MRANTI. \u201cIn the context of an AV XL, these 5G capabilities bring about a profound transformation. AVs depend heavily on the ability to transfer data instantly and maintain uninterrupted connectivity to operate safely and efficiently,\u201cWith 5G technology, MRANTI AV XL is able to carry out advanced testing, development and research with an unprecedented level of precision and reliability that was previously beyond reach,\u201d he added. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialise and scale. The agency offers innovators and industry access to world-class integrated infrastructure, interventions and programs, partnership and a suite of resources. In doing so, MRANTI aims to expand Malaysia\u2019s funnel of innovation supply, and unlock new R&D value by ensuring effective transitions in the commercialisation lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI which is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, is supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters. MRANTI launches Malaysia innovation matching platform to propel commercialization rate"}, {"url": "https://technode.global/2023/11/09/analyst-sees-challenges-for-malaysia-to-embrace-electric-vehicles/", "page": 10, "title": "Analyst sees challenges for Malaysia to embrace electric vehicles", "contents": "Malaysian analyst The research house said in a report on Wednesday that the rollout of the EV infrastructure in Malaysia and for Malaysia to become a suitable EV investment destination are still facing several challenges. In terms of EV infrastructure, it said that the government\u2019s target of achieving the 10,000 charging stations seems challenging. \u201cMalaysia\u2019s ambitious goal of deploying 10k EV charging stations by 2025, with 9k alternating current (AC) chargers and 1k direct current (DC) fast chargers, appears challenging, in our view,\u201d it said. According to the report, presently, there are 1.2k charging stations in operation, consisting of 1k AC chargers and 0.2k DC fast charging points. In Affin view, achieving this target within the specified timeframe is hampered by concerns regarding: (i) the economic viability of charging stations, (ii) the EV adoption rate, (iii) the substantial cost and investment consideration, and (iv) a reliable electricity supply. Affin also noted DC charging stations are limited and unevenly distributed. \u201cThe uneven distribution of DC charging stations in Malaysia is not surprising to us, as it mirrors the distribution pattern of electric car ownership that is primarily concentrated in urban and developed areas,\u201d it said.  However, it noted that the high density of chargers within Klang Valley, often leads to under-utilization and charging stations situated along highways and in rural areas may experience low usage throughout most of the year, only to face capacity shortages during peak holiday travel periods. This unbalanced availability of charging infrastructure can, in turn, discourage EV sales in these underserved areas, presenting a challenge to broader market adoption, it added. While the government has outlined nine initiatives to foster the development of EV charging infrastructure Affin said limited interest among potential entrants in this sector persists, primarily due to the significantly long payback period, which can deter investment. \u201cWe believe that the high initial costs, coupled with low utilization rates and a relatively modest rate of EV adoption present challenges with the primary concern being the extended cost recovery period,\u201d it said.  It is noted that as of the nine months of 2023, Malaysia\u2019s EV sales accounted for just 1 percent of the total industry volume (TIV), with 560 units sold, which would not provide sufficient returns for potential entrants in the short term.   Affin also noted the shortage of suppliers in the market for DC charging stations stems from their hesitation to enter the industry until demand becomes more established and predictable. As a result, it sees limited charging operators venturing into this segment. According to the report, the primary deterrent for new entrants and operators is the substantial initial investment required, which can amount to around about MYR 300,000 ($64,048) for a 200kW DC charging station. Additionally, even with this significant upfront expenditure, charging equipment typically has a limited operational lifespan of around five years, which results in rapid capital depreciation, further impacting the return on investment for charging station operators.  Besides, EV charging operators seem far from being profitable.   Based on Affin assessment in operating DC charging stations, the revenue from a single charging point, at MYR 1.30 ($0.28) per kWh, can only reach MYR 52 ($11.1) \u2013 MYR 104 ($22.2) per day based on a 40kWh \u2013 80kWh consumption assumption of a mid-range priced EV. Given the relatively small number of EV users and the low utilization rate of EV charging stations, Affin said this revenue falls short of covering the costs associated with procuring and delivering electricity, as well as the ongoing maintenance and operating expenses. It opined that this misalignment between costs and revenue presents significant profitability challenges for charging operators, especially considering the substantial capital investments required in this sector. While Malaysia\u2019s expertise in the EV ecosystem revolves primarily around midstream components and collaboration with cutting-edge electronics companies, Affin recognize that the landscape for four-wheel EV production is currently dominated by only a handful of key players. While the government actively encourages major EV companies to invest in the country, it acknowledged the intense competition in Southeast Asia, with nations like Thailand, Indonesia, and Vietnam striving to establish themselves as leading EV hubs, each offering unique incentives to attract investments. However, considering the flexibility of MRA AP, it believed that Malaysia has the potential to capitalize on the favorable entry of global EV players, thereby bolstering production in the downstream operations of auto players. Notably, Malaysian automaker EP Manufacturing Berhad (EPMB) obtained a manufacturing license from the government to manufacture and assemble EVs and recently sealed a partnership with Chinese automobile manufacturers BAIC and Great Wall Motors for the local production of EV and  internal combustion engine (ICE) vehicles.   Meanwhile, Affin opined that protective policies in Malaysia must be removed to attract foreign investment in EV. According to the report, policies favoring local brands, like Perodua and Proton, lead to market inefficiencies. Stricter regulations such as the preferential treatment that foreign investors are typically required to provide, such as taking on local partners or paying substantial premiums to introduce non-local brands, can also discourage foreign investment, in its view. However, it understands that the market liberalization will be implemented gradually with a focus on strategic segments, which include: (i) foreign director investment-friendly policies and support, (ii) accommodating employment opportunities for foreign graduates in local campuses and (iii) reduced preferential treatment.  Despite the relatively small contribution from the EV segment to the companies, Affin also foresee as potential slowdown in local players EV sales due to pure EV players\u2019 competitive pricing and attractive after-sales package tailored for the mid-income segment. Malaysia\u2019s EPMB invests $21M for new EV car manufacturing facility in Melaka"}, {"url": "https://technode.global/2023/11/08/carsome-appoints-miguel-fernandez-as-cfo/", "page": 10, "title": "Carsome appoints Miguel Fernandez as CFO", "contents": "Southeast Asia\u2019s largest integrated car e-Commerce platform Carsome said in a statement that Fernandez will report directly to Carsome\u2019s Chairman and Group Chief Executive Officer, Eric Cheng. Fernandez succeeds Juliet Zhu, who will remain in her role as Group President. According to the statement, Fernandez\u2019s extensive background spans public, private, and venture capital-funded firms, with successful tenures in a diverse range of industries including FinTech, e-commerce, manufacturing, distribution, private equity, and financial services. He has held senior financial leadership roles at Fortune 100 companies such as Amazon, Dell and Coupang and has served in the Asia Pacific region for close to seven years. Prior to joining Carsome, he was the Group Chief Financial Officer at Maya, a KKR and Tencent backed FinTech portfolio company in the Philippines. Prior to Maya, he was the Chief Financial Officer at Coupang Fulfillment Services, Coupang\u2019s largest subsidiary. Known for his keen business and financial acumen, he has held noteworthy financial roles, including Head of Commercial and Operations Finance in some of the most notable global companies.  Fernandez also brings valuable experience in operations and supply chain logistics that complements his technology background.  Cheng said that Fernandez has a remarkable track record and global experience especially within the e-commerce industry and the firm has much to gain from his financial, strategic and operational excellence strengths. \u201cFernandez\u2019s impressive background, strategic acumen, and financial leadership experience make him an invaluable addition to our team as we approach 2024, a year of accelerated profitable growth for Carsome,\u201d he added. He also said that Zhu who took on the role of CFO in January 2020 has played a critical role in Carsome\u2019s growth journey for the past four years. \u201cWe will continue working closely with her to drive growth and synergy creation across Carsome\u2019s businesses,\u201d he added. Fernandez, on the other hand, said that Carsome\u2019s commitment to innovation in elevating the customer and car ownership experience within Southeast Asia\u2019s used car industry has unlocked significant value creation potential. \u201cI look forward to contributing to Carsome\u2019s financial strategy, operational excellence, and overall success in delivering the next normal of digitized car ownership in this region,\u201d he added. According to the statement, Fernandez holds a Bachelor of Science in International Business and Logistics from Regis University, where he graduated with Magna Cum Laude Honors. Carsome appoints former PwC Singapore chairman as first independent director"}, {"url": "https://technode.global/2023/11/08/malaysias-maybank-expands-cross-border-services-to-china-boosts-asean-financial-integration/", "page": 10, "title": "Malaysia\u2019s Maybank expands cross-border services to China; boosts ASEAN financial integration", "contents": "Malaysian lender Maybank said in a statement that this initiative aims to benefit over eight million Maybank MAE app users visiting China as well as more than 700,000 Maybank QRPay merchants in Malaysia via transactions made by visitors from China. Earlier in 2023, Maybank launched the cross-border QR Pay feature made available for Malaysian MAE app users travelling to Thailand, Indonesia and Singapore, allowing existing Maybank QR Pay merchants to accept payments from tourists and visitors who use supported payment apps from these countries. The recent addition of the China corridor reaffirms Maybank\u2019s commitment to fostering international financial connectivity. John Chong, Group Chief Executive Officer of Community Financial Services Maybank said that Maybank\u2019s active engagement in the cross-border initiative demonstrates the bank\u2019s unwavering commitment to provide convenience to its customers, and aligning with Maybank\u2019s M25+ strategic thrusts, to strengthen its regional presence. \u201cOur entry into China offers an exceptional opportunity to access the dynamic and thriving Chinese market, further solidifying our international footprint,\u201d he added. According to him, this is a significant milestone in the firm\u2019s mission to deliver unmatched payment solutions that is seamless and secure, and the bank is excited to bring this new development to its customers. According to the statement, while in China, Malaysian MAE app users can make cashless payments with AliPay merchants. Users will need to scan the QR code using the MAE app and subsequently enter the payment amount which will be converted to China\u2019s local currency, Chinese Renminbi. This is followed by an instant payment confirmation which details the exchange rate and deductible amount in Ringgit Malaysia. Similarly, merchants in Malaysia are now able to accept QR payments from incoming travellers from China. It is fast, convenient and secure by scanning the DuitNow QR through Alipay, one of the preferred payment platforms in China. The strategic initiative is a result of Maybank\u2019s ongoing collaboration with Payments Network Malaysia Sdn. Bhd. (PayNet) aiding Malaysians travelling to China, and in-bound Chinese tourists visiting Malaysia. According to the statement, Chinese tourists continue to be a key target segment for Malaysia, with the Tourism Ministry announcing approximately 16 million tourists for 2023, of which 5 million are expected from China. Before the pandemic in 2019, Chinese tourists made a significant contribution of MYR 15.3 billion ($3.27 billion) in tourist receipts. Malaysia\u2019s PayNet partners China\u2019s Ant Group for cross-border digital payments"}, {"url": "https://technode.global/2023/11/08/malaysias-paynet-partners-chinas-ant-group-for-cross-border-digital-payments/", "page": 10, "title": "Malaysia\u2019s PayNet partners China\u2019s Ant Group for cross-border digital payments", "contents": "Malaysia\u2019s payments firm Effective 31 October 2023, travellers with the eight Alipay+ supported wallets can expect the convenience of travelling cashless to Malaysia and make digital payments by simply scanning PayNet\u2019s DuitNow QR at its network of over 1.8 million merchants touchpoints throughout the country, The duo said in a statement. The eight wallets are Alipay (China), AlipayHK (Hong Kong SAR), HelloMoney by AUB (Philippines), Hipay (Mongolia), MPay (Macau SAR), Naver Pay (South Korea), Toss Pay (South Korea) and TrueMoney (Thailand). According to the statement, more Alipay+ payment partners are also in the pipeline and will progressively be enabled in Malaysia. Additionally, the reciprocal connection to enable DuitNow QR users in Malaysia to make payment at Alipay+ global merchants is expected to gradually be in place from 2024 onwards. It is noted that the Alipay+ merchant ecosystem currently includes tens of millions of merchants in more than 50 markets. The collaboration was signified by a Memorandum of Understanding (MOU) signed in August this year between Ant Group, operator of Alipay+ and PayNet, operator of DuitNow QR. \u201cWith this collaboration with Ant Group, I am seeing a new Silk Route emerging; one that is powered by cross-border payment interoperability,\u201d said Farhan Ahmad, Group Chief Executive Officer of PayNet. With the partnership, he said businesses in the DuitNow QR ecosystem can immediately access travellers from eight more regions in an efficient, seamless, and secure way, bolstering trade and commerce. \u201cIt could not have materialized at a better time. The Malaysian tourism industry is back on a steady growth path and will be further energized by Visit Malaysia Year in 2026,\u201d he said. According to him, collectively, these linkages will connect economies that contribute over two-thirds to global gross domestic product (GDP) growth and home to over 60 percent of the world\u2019s population whose median age is younger than global average. \u201cAt this rate, we may very well see ASEAN+3 economic integration sooner than we think,\u201d he added. It is noted that the DuitNow QR is the National QR Standard operated by PayNet, which enables participating merchants to accept real-time payments from customers of participating banks and e-wallet in this, as well as other connected regions with a single unified QR code. \u201cWe are excited to collaborate with PayNet to make digital payments in Malaysia more convenient for users, with our partnership coming to life just as we approach the year-end travel season,\u201d said Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+ Cross-Border Mobile Payment Services. According to him, a recent report commissioned found that intra-Asia cross-border travel and payments will accelerate over the next few years, with average consumer spending almost doubling from 2016-2025. \u201cThis growth reinforces the need to better connect local merchants with international visitors through payments, marketing and other digital services to not only enhance the travel experience, but also boost the local tourism ecosystem in Malaysia,\u201d he said. According to the statement, the collaboration will go beyond connectivity to encompass joint digital marketing initiatives, aiming to enhance the visibility of merchants\u2019 businesses within users\u2019 e-wallets. Both parties will also collaborate through a marketing travel solution powered by Alipay+, for improved customer engagement, where international travellers using Alipay+ supported e-wallets\u2019 can earn reward points or receive discounts and benefits at PayNet\u2019s DuitNow QR merchants\u2019 ecosystem. PayNet is a national payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia\u2019s digital economy. Its extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has nearIn addition, PayNet\u2019s real time retail QR payments network, DuitNow, is also interoperable with domestic schemes in Singapore, Thailand, and Indonesia to enable cross-border transactions with those regions. PayNet is committed to promoting a secure, efficient, and innovative payments ecosystem in Malaysia, and works closely with its stakeholders to develop new products and servicesAnt Group is a firm aims to build the infrastructure and platforms to support the digital transformation of the service industry. Through continuous innovation, the firm strives to provide all consumers and small and micro businesses access to digital financial and other daily life services that are convenient, sustainable and inclusive. Alipay+ is a suite of cross-border digital payment, marketing and digitalization solutions that help connect global merchants to consumers. With the digital payment, consumers can enjoy payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may also use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth. Ant partners PayNet to promote payment for inbound and outbound Malaysian travellers"}, {"url": "https://technode.global/2023/11/08/nefin-and-mydin-team-up-for-carbon-neutral-energy-solutions-in-malaysia/", "page": 10, "title": "NEFIN and MYDIN team up for carbon-neutral energy solutions in Malaysia", "contents": "NEFINThe duo said in a statement that the partnership marks the first collaboration in the Southern region, engaging NEFIN to conduct the detailed energy audit (DEA) and to install solar systems boosting the generation and usage of clean energy, showcasing a significant step towards a greener future within the retail industry. According to the statement, the retail sector is one of the largest contributors to greenhouse gas emissions in Malaysia, accounting for 10 percent of the country\u2019s total emissions. The industry is also a major consumer of energy, with electricity consumption accounting for 40 percent of the sector\u2019s total energy use. With these increasing numbers, Malaysia has committed to achieving climate neutrality and cutting greenhouse gas (GHG) intensity against gross domestic product (GDP) by 45 percent by 2030 compared with 2005 levels. Thus, this partnership will help MYDIN to reduce its carbon emissions and energy consumption, while also setting a new standard for sustainable practices in the retail sector. \u201cWe are thrilled to embark on this partnership with NEFIN,\u201cThis collaboration perfectly aligns with MYDIN Prihatin#forfuture\u2019s mission to promote sustainability and environmental responsibility,\u201d said Haji Ameer Ali Mydin, Managing Director of MYDIN. According to him, the firm\u2019s dedication to environmental conservation has always been a cornerstone of its values as a responsible retailer, and this partnership reaffirms its commitment to a more sustainable future. \u201cFollowing the completion of Phase 1, MYDIN is excited to move forward with Phase 2 and we plan to expand the use of clean energy across all our mall locations,\u201cWe are eagerly anticipating the outcomes of this partnership and the positive impact it will have on both our operations and the environment,\u201d he added. Founded in 2014, NEFIN is a regional leader in supporting corporations in Asia Pacific decarbonize, with the aim of achieving carbon neutrality. On the other hand, MYDIN is widely recognized for the company\u2019s steadfast commitment to environmental sustainability. In 2023, MYDIN continues to demonstrate its dedication to environmental conservation through various initiatives. These efforts include the Zero Bag Plastic campaign, energy-saving measures in management, the installation of electric vehicle (EV) charging stations, and the recycle clothing garbage initiative. As part of this collaboration, NEFIN will propose the ideal energy efficiency solutions to Mydin with the energy audit report, particularly in the area of HVAC Retrofits/Chiller optimization. NEFIN has also offered the latest technology in solar photovoltaic panels, specifically the N-type solar PV panels from Jinko Solar, the world\u2019s leading solar panel brand, for all the MYDIN sites. The combined solar energy system capacity deployed across the six stores in Senawang (Negeri Sembilan) Pulau Sebang, Jasin, MITC (Melaka) Pelangi Indah (Johor) of Malaysia. MYDIN is estimated to save MYR 71.05 million ($52.42 million) through this installation with a total generation of 286,746,066kWh of clean energy, equivalent to offsetting 199,002 tons of CO2 emissions over the system\u2019s 30-year lifetime. This installation will be carried out by NEFIN\u2019s engineer, procure and construct (EPC) contractor partner, Total IFM, that has 20 years of experience in providing integrated engineering services. \u201cFollowing our projects with hypermarket chains in Malaysia in the past three years, we are excited to expand our impact on this industry, to join forces with MYDIN in revolutionizing the retailing industry through the implementation of carbon neutral solutions,\u201d said Chong Bor Hung, Managing Director of NEFIN South East Asia and Head of Business Development. By embracing renewable energy, he said MYDIN is spearheading a transformation that will not only reduce carbon emissions but also set a new standard for sustainable practices within the retail sector. \u201cThis partnership marks a leap towards creating a greener and more environmentally conscious future for the entire retailing industry which will contribute significantly to Malaysia\u2019s sustainability goals, \u201cNEFIN is grateful that many of our clients trusted us to provide a broad range of services, like energy audit and RECs, to their multiple sites locally and even beyond Malaysia,\u201d he added. As of 2023, NEFIN has successfully generated an impressive 200GWh of renewable energy. These efforts have resulted in offsetting around 118,800 tons of carbon dioxide emissions, planting approximately 1,980,500 trees, and providing power to over 20,000 homes. Through the collaboration with MYDIN, NEFIN remains committed to pushing the boundaries of sustainability and serving as a catalyst for the retail industry to embrace a greener future. Malaysia\u2019s Solarvest secures 11 solar photovoltaic projects in Vietnam"}, {"url": "https://technode.global/2023/11/08/malaysias-khazanah-impact-innovation-challenge-2023-unveils-top-3-winners/", "page": 10, "title": "Malaysia\u2019s Khazanah Impact Innovation Challenge 2023 unveils Top three winners", "contents": "The Khazanah Impact Innovation Challenge (KIIC) 2023 has concluded its Demo Day on Tuesday, where 15 finalists representing impactful Malaysian businesses pitched for potential equity investments and/or debt funding from Three winners were selected by the KIIC 2023\u2019s panel of judges for having the most innovative and unique solutions with measurable impact, operating on a sustainable business model and offering solutions that are relevant to Malaysia, Khazanah said in a statement. The Top Three, Braintree Technologies, Ultimeat and Kapitani were awarded grants of up to MYR 500,000 ($106,781) each to realize their business plans. The other twelve finalists, on the other hand, stand to receive grants ranging between MYR 150,000 ($32,034) and up to MYR 400,000 ($85,424) each. Braintree Technologies Chief Executive Officer Arif MakhdzirHe noted that climate change has brought unprecedented production uncertainty to farmers as they can no longer rely on their usual crop cycle pattern. \u201cThe uncertainty in the crop calendar also causes uncertainty to the farm workforce, \u201cOur robots are flexible, versatile workers that can do multiple types of work and help farmers deal with the uncertainty,\u201d he said. Ultimeat Chief Executive Officer Edwin Lee said that the firm plans to amplify its community engagement efforts, ensuring Malaysians are well-informed about their distinctive products. \u201cGiven the pressing challenges of climate change and its implications on food security, Ultimeat\u2019s innovative technology provides a sustainable solution by producing proteins in just seven days, mitigating environmental impacts,\u201d he added.  Kapitani Co-Founder Mohd Nazrul Hazeri said that the firm will use the grant to speed up its projects in two states and hire more talent. \u201cWe will also test our financing solutions for farmers. We want to pay them faster and easier,\u201d he added. In addition, three other selected tech-based startups, namely Entomal, Hydroemission and Kairos, each received MYR 10,000 ($2136) as recipients of the \u201cPartner Selection Award\u201d, sponsored by Cradle\u2019s MYStartup, as motivation for further development of their businesses. Cognisant of the importance and urgent need for a more sustainable future, the Partner Selection Award recognises the top innovators tackling climate change for Malaysia\u2019s food security. Khazanah Managing Director Amirul Feisal Wan Zahir said that through KIIC 2023, the fund hopes to channel the necessary support and capital for the application of innovative and sustainable solutions to address the issue of food security while driving socio-economic resilience and growth potential for the country, in tandem with its Advancing Malaysia strategy. \u201cThe dedication and ingenuity of these startups will not only improve the agrifood landscape but potentially support countless households, \u201cAs we confront rising inflation, global uncertainties, and the challenges posed by climate change, the innovative solutions pioneered today will become the source of resilience for consumers and the nation,\u201d he added. Launched on 25 July 2023, KIIC 2023 called for submissions from Malaysian businesses that have developed innovative and commercially viable solutions to address the challenges posed by climate change on Malaysia\u2019s food security. Khazanah received more than 160 applications, with 15 finalists shortlisted by the committee, including its partners, for the Demo Day, which took place on November 7, 2023. Selections were done based on their entrepreneurial track record, business model and competitive advantage, impact measures, and execution strategy. The finalists attended a 4-week workshop and coaching by industry experts to prepare them for the Demo Day. KIIC 2023 is organized by Khazanah in partnership with its program partner, Plug and Play APAC (PNP), outreach partners, Impact Circle and Cradle Fund\u2019s MYStartup, and funding partners Gobi Partners, 500 Global, and Agrobank. At the KIIC Demo Day, the finalists presented their business proposals to the KIIC panel of judges, which comprised subject matter experts as well as members of Khazanah\u2019s senior management. 500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs"}, {"url": "https://technode.global/2023/11/08/malaysias-tnb-partners-singapores-charge-for-cross-border-ev-charging-platform/", "page": 10, "title": "Malaysia\u2019s TNB partners Singapore\u2019s Charge+ for cross-border EV charging platform", "contents": "Tenaga Nasional Berhad (TNB)This platform will effortlessly connect their customers to EV charging points across Malaysia and Singapore, revolutionizing the EV driving experience, TNB said in a statement on Wednesday. The commitment to this innovative partnership was solidified with the exchange of a Memorandum of Understanding (MoU) during the TNB Energy Conference 2023, held last August. The MoU forms the cornerstone for the development of a seamless cross-border network of electric vehicle charging infrastructure, in alignment with the National Energy Transition Roadmap\u2019s (NETR) goal to deploy 10,000 EV charging stations by 2025. TNB President and Chief Executive Officer Baharin Din described this collaboration as a remarkable opportunity to explore the technical and commercial feasibility of international roaming arrangements. \u201cThis partnership is designed to significantly enhance the customer experience for both TNB and Charge+ as they embark on cross-border journeys, \u201cWith seamless access to charging points, electric vehicle drivers will be able to enjoy unprecedented convenience and peace of mind,\u201d he said. According to him, this MoU marks Malaysia\u2019s pioneering cross-border roaming alliance in the EV charging sector. As part of the firm\u2019s grand vision, he said this strategic partnership will be integrated into an expansive network of 30,000 charging points by 2030, spanning a 5,000-kilometer EV highway across five Southeast Asian countries namely Singapore, Malaysia, Thailand, Cambodia, and Vietnam. \u201cTNB is taking significant strides to increase the accessibility of electric vehicle charging points within Malaysia and beyond,\u201cThis expansion of the TNB Electron network not only enhances the convenience of charging facilities but also reaffirms TNB\u2019s dedication to delivering seamless services for our valued customers,\u201d he added. Addressing concerns about the suitability of electric vehicles for extended journeys and crossborder travel, Baharin expressed his confidence that this roaming initiative will play a pivotal role in challenging and reshaping perceptions. \u201cThe improved convenience will alleviate concerns of range anxiety that EV drivers may have, thereby driving greater adoption of EVs in Malaysia,\u201cThe TNB and Charge+ partnership will also contribute to reducing overall carbon emissions in Malaysia, supporting our nation\u2019s goal to achieve Net Zero 2050 and aligning with NETR objectives,\u201d he said. Furthermore, Baharin highlighted that this strategic partnership will enable users of the TNB Electron charging stations\u2019 mobile application (GO TO-U) and Charge+ (Charge+) to conveniently access the EV charging assets of both companies, providing a more convenient cross-border charging experience for TNB Electron and Charge+ customers.   Malaysia\u2019s TNB partners Petronas to explore CCS technology for gas-fire power plants"}, {"url": "https://technode.global/2023/11/06/malaysias-tnb-partners-petronas-to-explore-ccs-technology-for-gas-fire-power-plants/", "page": 10, "title": "Malaysia\u2019s TNB partners Petronas to explore CCS technology for gas-fire power plants", "contents": "Malaysian utility firm The duo said in a statement on Monday that they have signed a memorandum of understanding (MoU) for the partnership. According to the statement, this collaborative endeavor underscores both parties\u2019 commitment to Malaysia\u2019s National Energy Transition Roadmap (NETR) and aligns with the country\u2019s ambition to attain net zero carbon emissions by 2050. It is noted that NETR identifies carbon capture, utilization and storage (CCUS) as the 6th Energy Transition Lever and outlines a clear path to carbon neutrality, with the MoU translating these ambitions into actionable initiatives. TNB Chief Executive Officer Baharin Din emphasized that the MoU strengthens TNB and PETRONAS\u2019s commitment to NETR. He said that CCS stands out as one of the key energy transition levers outlined in the NETR, and this MoU will enable TNB and Petronas to synergize their expertise and align their efforts in the realm of CCS technology for gas-fired power plants.  \u201cTNB is fully committed to achieving Net Zero by 2050 and is actively pursuing various initiatives to drive decarbonization in Malaysia. Among these efforts include the capturing and storing of carbon during power generation at gas-fired power plants,\u201cThe MoU resonates with TNB\u2019s environmental, social and governance (ESG) agenda signifying our unwavering commitment to environmental sustainability through the exploration of CCS technology and aligning with Malaysia\u2019s NETR,\u201d he added. Petronas Chief Executive Officer Tengku Muhammad Taufik said that the complexity of the energy transition is a systemic challenge that will take work and cooperation with other sectors to achieve the target for carbon neutrality.  According to him, the MoU bears testimony to the shared conviction of both Petronas and TNB to deliver a pathway to responsibly provide energy security while supporting the low carbon aspirations set forth in the NETR. \u201cWith the combined experience and technical capabilities as owners of energy infrastructures, Petronas looks forward to accelerating the development and deployment of CCS technology as part of a decarbonized energy system,\u201cTogether, we can tap the full potential of technologies at our disposal focused on the immediate need to reduce emissions. On our part, Petronas remains resolute to unlocking the solutions that will move the needle towards a more sustainable future \u2013 aligned to our net zero by 2050 target,\u201d he added. As Malaysia transitions to a low-carbon economy, the statement noted that natural gas will play a pivotal role in the country\u2019s energy landscape, offering a reliable and affordable transitional base load power source. Consequently, it said gas-fired power plants will enable greater integration of intermittent renewable energy sources, and the collaboration between TNB and Petronas on the implementation of CCS technology for the gas-fired power plants would help contribute towards the nation\u2019s decarbonization endeavors. TNB is a Malaysian utility company in Asia with an international presence in the United Kingdom, Kuwait, Turkiye, Saudi Arabia, and India. Within the renewable energy space, as of December 2022, TNB has a total gross portfolio of 2,896MW in Malaysia (including 2,536.1MW of large hydro) and 993MW across the United Kingdom, Turkiye, and India comprising mainly solar, wind, and hydro energy generation assets. In addition to being the Malaysia\u2019s primary electricity generation enterprise, TNB also transmits and distributes all the electricity in Malaysia. As of May 31, 2023, the firm supplies electricity to approximately 10.7 million customers. Petronas is a Malaysian energy group with presence in over 100 countries. The group produces and delivers energy and solutions and its group portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.  Malaysia\u2019s TNB and Siemens Energy join forces in green hydrogen advancements"}, {"url": "https://technode.global/2023/11/06/malaysias-my-e-g-blockchain-unit-zetrix-launches-cross-border-supply-chain-financing-pilot-with-chinese-banks/", "page": 10, "title": "Malaysia\u2019s MY E.G. blockchain unit Zetrix launches cross border supply chain financing pilot with Chinese banks", "contents": "Malaysia\u2019s MY E. G. Services blockchain unit Starting with the Bank of China as the first financial institution to be onboarded under the project, the end-to-end solution offers a soft landing for trading firms with fully digital onboarding, including registration of a Chinese legal entity, bank account opening and credit assessments, MY E. G. said in a statement last Friday. According to the statement, approved clients will enjoy low-cost financing and quicker release of drawdowns as the service leverages on-chain events recorded and verified on Zetrix. MYEG said China has undergone rapid digital transformation in recent years, with most services, including financial services, now being delivered online and capitalizing on the advantages of blockchain technology. It also noted that China is a world leader in blockchain adoption, and the government is actively supporting the development of the blockchain industry. It is noted that Zetrix is a public blockchain network that also hosts the international supernode of China\u2019s national blockchain, Xinghuo Blockchain Infrastructure and Facilities (Xinghuo BIF). The platform is focused on enabling global trade through its connection to Xinghuo BIF. Zetrix provides users with access to a secure and reliable blockchain platform that is endorsed by the Chinese government. Zetrix\u2019s commitment to localization is further cemented by its partnership with Dixchain, who is a national level high-tech enterprise in China that integrates financial technology and financial services, focusing on providing comprehensive digital solutions for global crossborder trade and finance. \u201cThis is a game changer on several fronts. By tracking and verifying the transactions onchain, banks will be able to reduce their risks and enhance their ESG ratings, hence, in turn, reducing the overall cost of financing for end-users,\u201cTrading companies can also leverage on the interest rate differentials their respective countries, as well as widen their financing options,\u201d explained TS Wong, Founder of Zetrix. According to the statement, the pilot will provide more efficient and convenient cross-border financial services for trading enterprises, introduce lower cost overseas RMB funds, help enterprises to  obtain lower cost financing, and increase cross-border trade transaction volume. Zetrix is a public blockchain platform that is powering digitization of cross border trade. It is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix\u2019s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.  Developed by MY E. G. , the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as blockchain-based identifiers (BID) and verifiable credentials (VC). Bank of China has institutions across the Chinese mainland as well as 62 countries and regions, and BOCHK and the Macau Branch serve as local note-issuing banks in their respective markets. Bank of China has a global service network and an integrated service platform based on the pillars of its corporate banking, personal banking, financial markets and other commercial banking business, which covers investment banking, direct investment, securities, insurance, funds, aircraft leasing, asset management, financial technology, financing leasing and other areas. Dixchain is a national high-tech enterprise in China that integrated financial technology and financial services, focusing on providing comprehensive digital solutions for the global crossborder trade and financial field, with a number of independent research and development (R&D) platform-level fintech products including the integrated service platform of domestic and cross-border supply chain business, the cross-border financial assets exchange platform, etc,The company has the R&D and delivery capabilities of artificial intelligence (AI), big data, blockchain, biometric identification, identity authentication and other related technology products. At the same time, the company provides cross-border trade data verification, logistics traceability, trade financing, cross-border payment, asset transaction, fund settlement and other services to the global trade enterprises and financial institutions.  MYEG partners Beitou IT Innovation to spearhead international digital identity credentials service on Zetrix blockchain"}, {"url": "https://technode.global/2023/11/02/japans-mitsui-invests-58m-in-ada-via-axiata-digital-valuing-ada-at-550m/", "page": 11, "title": "Japan\u2019s Mitsui invests $58M in ADA via Axiata Digital, valuing ADA at $550M", "contents": "Malaysia-headquartered Mitsui\u2019s additional investment has established a watermark valuation of $550 million for ADA, the telecommunications group said in a statement. Following the investment, Mitsui\u2019s stake in ADS will increase from 3.29 percent to 20 percent, resulting in an effective 12.69 percent stake in ADA. On the strength of the investment, ADA \u2013 the largest independent data and AI company in the region, spanning 12 countries across Asia \u2013 is set to broaden its digital reach and reinforce its commitment to advancing digital and data transformation in the region. Mitsui has been working closely with ADS and ADA since their initial investment in 2019, and is now intensifying its efforts to deliver data and AI solutions to partners and clients in the APAC region. Vivek Sood, Group Chief Executive Officer and Managing Director of Axiata, said \u201cMitsui has a strong and proven track record of bolstering innovative businesses in the fields of AI, data analytics and digital transformation. We are confident that broadening our strategic partnership will further enhance ADA\u2019s expertise in AI and data analytics with Mitsui\u2019s substantial business capabilities derived from a global portfolio. \u201d \u201cThis is a significant step towards generating greater, long-term value for our stakeholders and in driving continued growth within this space. Consequently, this will enable Axiata to seize additional opportunities in the digital business realm while sharpening our focus on our core pillars, thereby enabling sustainable growth across our geographic footprint,\u201d he added. \u201cWe also acknowledge the contributions of other shareholders within ADA, such as Softbank and Sumitomo, who have been instrumental in providing support and fostering synergies as ADA pursues its journey towards achieving unicorn status in the AI, data analytics and digital transformation space,\u201d he said. Toru Matsui, Representative Director, Senior Executive Managing Officer of Mitsui, said: \u201cThe IT & Communication Business Unit has been executing a customer relationship management strategy to develop digital marketing business clusters that contribute to our consumer-centric businesses and additional investment in ADS will strengthen this strategy in Asia. \u201cWe look forward to collaborating closely with Axiata Group and ADS/ADA in order to contribute to the growth of ADA by accelerating the provision of its digital marketing solutions and data analysis services to our partners throughout the region,\u201d he added. Srinivas Gattamneni, Chief Executive Officer of ADA, said \u201cMitsui\u2019s strong endorsement highlights our extraordinary growth story. We are excited about the prospect of deepening our collaboration with Mitsui to empower their partners with cutting-edge data, AI, and technology solutions. This partnership represents a significant step forward as we enter our next phase of growth, and we believe it will be an invaluable contributor to our journey. \u201dAxiata plans to launch digital bank by year-end \u2013 report"}, {"url": "https://technode.global/2023/10/31/malaysias-vircle-receives-venture-capital-injection-from-kumpulan-modal-perdana-gobi-partners/", "page": 11, "title": "Malaysia\u2019s Vircle receives venture capital injection from Kumpulan Modal Perdana, Gobi Partners", "contents": "VircleVircle said in a statement on Tuesday that Gobi facilitated its investment through the Gobi Dana Impak Ventures (GDIV) fund. GDIV is a part of Khazanah Nasional Berhad\u2019s (Khazanah) Future Malaysia Programme, an initiative under the Malaysian sovereign wealth fund\u2019s Dana Impak mandate, to support the nation\u2019s startup ecosystem of entrepreneurs, startups, venture capital and corporate venture programs. With this funding, Vircle\u2019s goal is to expand its services to public schools nationwide. \u201cWe have created a truly family-centric financial platform to offer every child a gentle and safe introduction to the cashless world, providing experiential learning opportunities that allow them to experience the real world while providing parents peace of mind through Vircle\u2019s unique parental oversight and child safety engine, before venturing into the real world of finances, \u201cOur mission is to bank one million Malaysian children and a total of three million children across Southeast Asia within the next five years,\u201d its Founder Gokula Krishnan Subramaniam said. According to him, the firm will achieve this by constantly innovating in collaboration with parents and regulators backed by funding from its investors such as KMP and GDIV. Vircle was founded by Subramaniam with over 20 years of experience in research and development, engineering, product, commercial, solutions and sales. The firm was established in March 2021 with the aim to reshape financial education and banking for children through its Vircle app. The app has been an important tool in instilling lifelong money habits among young children, through partnerships with major schools across Malaysia. Presently, Vircle extends its services to families representing 130 nationalities and operates in partnership with over 58 prestigious private and international educational institutions. The firm\u2019s innovative and proprietary parental control technology empowers parents to effortlessly oversee and manage their child\u2019s expenses both in school and out-of-school. Its child-safe Visa prepaid card, the first of its kind in Malaysia, offers parents a regulated financial tool to help guide their children in navigating the cashless and digital banking environment with careful oversight, instilling financial responsibility. Through experiential features like Missions, Savings, and Spending controls, children can acquire vital money management skills, empowering them to make informed decisions from an early age. \u201cOur investment will supercharge Vircle\u2019s mission to transform financial literacy for children by incorporating data analytics capabilities,\u201cWe are thrilled about this partnership and our shared vision for growth,\u201d KMP Chief Executive Officer Yarham Yunus said. According to him, witnessing the number of users and transactions, doubling year on year over the last two years is a testament to the immense potential of this partnership. \u201cWe are excited to partner with Vircle to continue expanding its reach especially as it makes headways into the public and underserved schools\u2019 segment,\u201d he added. Established in 2001, KMP is a venture capital firm wholly owned by the Ministry of Finance, Inc. in Malaysia and under the purview of the Ministry of Science, Technology &KMP was established with a mandate to focus on technology development, aimed at spurring the growth of technology-based businesses. Since its inception, KMP has invested in more than 40 companies, encompassing high-tech companies across a spectrum of technology sectors, including but not limited to internet of things (IoT), advanced materials, semiconductor, automation, green technology and renewable energy. \u201cIn a region where 160 million children lack access to banking services, Vircle emerges as a beacon of hope, introducing a safe passage into the cashless world, \u201cWith an emphasis on cultivating crucial money management skills, Vircle addresses a significant gap in both the educational system and households across Southeast Asia,\u201d  Gobi Co-Founder and Chairperson Thomas Tsao said. It is noted that GDIV\u2019s investment into Vircle aligns with Dana Impak\u2019s aim to deliver socioeconomic impact for Malaysia across six themes \u2013 Digital Society and Technology Hub, Quality Health and Education for all, Decent Work and Social Mobility, Food and Energy Security, Building Climate Resilience, and Competing in Global Markets. Gobi is a Pan-Asian venture capital firm with $1.6 billion in assets under management. Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 17 funds to date and invested in over 380 startups with 62 operating in the circular economy. The firm has grown to 15 locations across key markets in Bangkok, Cairo, Dhaka, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. DRB-HICOM invests in Carro\u2019s auto fintech subsidiary Genie Malaysia"}, {"url": "https://technode.global/2023/10/31/fusang-exchange-tokenizes-and-lists-digital-sukuk-backed-by-iilm/", "page": 11, "title": "Fusang Exchange tokenizes and lists digital sukuk backed by IILM", "contents": "Fusang ExchangeFusang Exchange said in a statement that this tokenization exercise is the world\u2019s first digitization of an institutionally-issued sukuk and is expected to revolutionize the Islamic investment landscape by providing investors access to shariah-compliant high-quality liquid assets (HQLA). IILM is an international organization established to address liquidity management challenges faced by Islamic financial institutions globally and acts as the program administrator of the underlying sukuk. According to the statement, the tokenization and listing exercise was completely led by Fusang Exchange, utilizing its proprietary Fusang depository receipt (FDR) structure to \u201cwrap\u201d the underlying sukuk into a digital form. The FDR retains full transparency and certainty of investors\u2019 legal rights and adheres to Shariah standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). ZICO Shariah Advisory Services acted as the Shariah adviser for the issuance of these ERC-20 compliant tokens; the leading and most popular Ethereum standard for token issuance. Similar to American Depository Receipts (ADRs) and Hong Kong Depository Receipts (HDRs), FDRs represent a beneficial interest in an underlying security, which can then be listed, traded, and settled on Fusang Exchange. FDRs are fully redeemable for the underlying IILM sukuk and are secured by third-party independent custodians. FDRs ensure all parties have uniform legal rights and custodial arrangements. \u201cFusang Exchange\u2019s next-generation tokenization technology and standardized legal framework has created the world\u2019s first truly global digital stock exchange, \u201cOur institutional-only digital infrastructure is built to serve, not disrupt, traditional financial intermediaries by enabling trading, custody and clearing of tokenized assets through a fully-regulated ecosystem,\u201d said Henry Chong, Chief Executive Officer of Fusang Exchange. He also said that Fusang Exchange is encouraged by the Malaysian government\u2019s commitment to developing the Islamic financial market, as evidenced by announcements in the Malaysian Budget 2024 \u2013 which aligns with Fusang Exchange\u2019s aim to revolutionise Islamic financial markets via digital initiatives. It is noted that Fusang Exchange is a member-only network of regulated financial institutions \u2013 mirroring the operating structure of other non-digital stock exchanges \u2013 which facilitates the tokenisation, listing, trading, settlement, and custody of digital securities, all backed by real-world assets. Fusang Exchange itself is regulated and supervised by the Labuan Financial Services Authority, under the Ministry of Finance, Malaysia. \u201cWe envisage the new Guidelines on Labuan Securities Token Offering would further spur the development of tokenized securities in Labuan,\u201d said Nik Mohamed Din Bin Nik Musa, Director General, Labuan Financial Services Authority. He said leveraging on Labuan IBFC\u2019s robust regulatory environment, Fusang Exchange\u2019s innovation has provided the platform for listing of a unique tokenized structure cementing Malaysia\u2019s leadership role in Islamic digital financial services. He also said this issuance bodes well with the recent Budget 2024, providing full tax exemption on Islamic Finance transactions by Labuan entities, aimed at positioning the jurisdiction as an Islamic finance hub. Fusang Exchange President Kelvin Ung said that the firm gives banks and brokers access to institutional Islamic investment products and greater global market distribution. He opined that this solves several legacy issues \u2013 namely opening up of institutional markets and providing seamless digital access to investable assets, \u201cWe will continue to issue similar tokenized securities backed by government-linked assets, as we believe demand for high-quality liquid assets will continue in the current high interest rate environment, \u201cGlobal banks and brokers can now access these tokenized securities via Fusang Exchange,\u201d he added. Fusang Exchange is a global digital stock exchange built to enhance rather than replace traditional finance. Operating with full regulatory oversight, the firm provides institutional-grade trading, custody and settlement infrastructure for securities, alternative investments, and private assets. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/10/30/malaysias-pnb-epf-kwap-co-invest-in-high-tech-industrial-asset-kulim-ii-for-420m/", "page": 11, "title": "Malaysia\u2019s PNB, EPF, KWAP co-invest in high-tech industrial asset Kulim II for $420M", "contents": "Malaysian funds The funds said in a joint statement on Monday that the sale and leaseback transaction is expected to conclude in December 2023. According to the statement, PNB, EPF and KWAP will each own 33.3 percent equally.  The transaction offers a unique opportunity for PNB, EPF, and KWAP to invest in a high quality and high specification industrial real asset in Malaysia which provides competitive returns. The investment is for a ten-year period with a clear exit strategy.  \u201cIn addition, the investment catalyzes Foreign Direct Investment (FDI) by enabling our partner to deploy more capital in Malaysia,\u201cThis aligns with one of the goals of the Madani Economy Framework, which aims to establish Malaysia as a leading Asian economy and enhances our global competitiveness, resulting in high impact growth investments for the country,\u201d said the statement.  Furthermore, the move is in line with Malaysia\u2019s New Industrial Master Plan 2030 (NIMP30), in its objective of advancing economic complexity. The injection of capital to the electrical and electronics (E&E) sector enables ams OSRAM, a global leader, to establish the world\u2019s first fully automated 8-inch LED and micro LED manufacturing facility.  The facility will foster the development of an ecosystem to support high value-added activities such as semiconductor fabrication. It also underscores Malaysia\u2019s vision of becoming a prominent high-tech manufacturing hub that would rejuvenate the \u2018Made in Malaysia\u2019 brand. It is also noted that the products manufactured in ams OSRAM\u2019s Kulim II will contribute to the country\u2019s goal of expanding hightech manufacturing exports and establishing a global presence, which solidifies additional employment opportunities in the country in the field of science and high-tech semiconductors. PNB is one of the largest fund management companies in Malaysia with assets under management (AUM) exceeding MYR300 billion ($62.99 billion). Its portfolio covers strategic investments in Malaysia\u2019s leading corporates, global equities, private investments and real estate. Established in 1951, the EPF is the largest institutional fund manager in Malaysia under the purview of the Ministry of Finance with more than MYR1 trillion ($210 billion) of assets under management. KWAP or the Retirement Fund (Incorporated) was established in 2007 to manage contributions from the federal government and relevant agencies made into the Retirement Fund to obtain optimum returns on its investments through sound management and investment of the fund in equity, fixed-income securities, money market instruments, and other forms of investments. Japan\u2019s NTT launches $50M data center in Malaysia"}, {"url": "https://technode.global/2023/10/30/gentari-partners-am-green-to-drive-large-scale-green-hydrogen-production-with-global-reach/", "page": 11, "title": "Gentari partners AM Green to drive large-scale green hydrogen production with global reach", "contents": "Malaysian clean energy firm Gentari said in a statement on Monday that the firm via its wholly-owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green for the partnership. According to the statement, AMG Ammonia is established by the founders of Greenko, one of India\u2019s leading renewable energy companies. An affiliate of Singapore investment entity, GIC, is also an investor in AMG Ammonia. AMG Ammonia is projected to produce 5 million tonnes per annum (MTPA) of green ammonia using round-the-clock renewable energy by 2030. The platform aims to deliver green ammonia, as it is presently the most mature and stable form of transporting hydrogen. It is noted that the 5 MTPA of green ammonia produced is equivalent to approximately 1 MTPA of green hydrogen, and would represent 20 percent of India\u2019s target for green hydrogen production by 2030, or 10 percent of Europe\u2019s target for imported renewable hydrogen. This size and capacity will place AMG Ammonia among the world\u2019s pioneers in large-scale and cost-competitive green ammonia production. The first export of green ammonia from this platform is targeted by late 2025, and aims to serve key Organization for Economic Co-operation and Development (OECD) markets, such as Germany, Japan and South Korea, as well as Singapore. According to the statement, Gentari and AM Green both bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolysers, and ammonia production and marketing capabilities. The parties will mutually invest in AMG Ammonia, demonstrating full commitment to realise the platform\u2019s potential and expand their presence in Asia Pacific and Europe. Post-investment from Gentari, AM Green and GIC, AMG Ammonia will be a fully funded platform for the targeted ammonia production plan. The platform is expected to invest, in phases, into projects across different locations in India. This will ensure competitive supply of hydrogen to the global market and will be key for manufacturing and exporting green hydrogen in the region. For Gentari, strong collaborations in its focus market of Malaysia and the broader Asia Pacific, will be vital to delivering its global ambition of up to 1.2 MTPA in clean hydrogen by 2030. In Malaysia, the company sees strong potential for developing a local hydrogen economy. To this end, Gentari has undertaken efforts to position Malaysia as a hydrogen export hub whereby its hydrogen ventures will support a comprehensive national roadmap that includes hydrogen as an energy transition lever for Malaysia. These efforts include working with Sarawak\u2019s SEDC Energy Sdn Bhd to jointly explore the state\u2019s potential as a green hydrogen production hub. At the same time, Gentari is also collaborating with its parent firm Petronas and utility firm Tenaga Nasional Berhad to advance studies on green hydrogen development in Kerteh, Terengganu and Pengerang, Johor towards the creation of a hydrogen economy in Malaysia. \u201cAs Gentari expands our portfolio of clean energy solutions in Malaysia, Asia Pacific and beyond, we believe in the critical importance of industry-level collaborations that combine complementary strengths and unlock synergies,\u201d said Sushil Purohit, Chief Executive Officer of Gentari. According to him, this partnership with AM Green and GIC is a testament to our commitment in accelerating green hydrogen adoption globally, to make an impact in the pursuit of a net zero future. He noted that in OECD, Southeast and East Asian economies, green ammonia will address the decarbonization of industries such as power generation, through co-firing, as well as shipping. Meanwhile, Greenko Group and AM Green Founder Anil Chalamalasetty said that the commitment from Gentari and GIC underpins Indian Prime Minister Modi\u2019s vision for India to become a leader in global energy transition. \u201cThis strategic partnership will work to accelerate net zero targets of various industries and several OECD economies,\u201cContinuous focus on innovation combined with execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy transition solutions platform,\u201d he said. Malaysia\u2019s Gentari appoints Navjit Gill as India\u2019s Country Head"}, {"url": "https://technode.global/2023/10/26/drb-hicom-invests-in-carros-auto-fintech-subsidiary-genie-malaysia/", "page": 11, "title": "DRB-HICOM invests in Carro\u2019s auto fintech subsidiary Genie Malaysia", "contents": "Edaran Otomobil Nasional Berhad (EON)In a joint statement on Thursday, the duo said the partnership combines DRB-HICOM\u2019s decades of automotive experience with Carro\u2019s proprietary tech-enabled platform to redefine auto financing in Malaysia. The investment is aligned with DRB-HICOM\u2019s move to enhance its automotive distribution eco-system. The collaboration also unlocks valuable cross-selling opportunities for DRB-HICOM within Carro\u2019s used car platform myTukar\u2019s dealer network, comprising over 2,600 dealers nationwide. \u201cFintech is an integral part of our digital used car ecosystem. DRB-HICOM\u2019s strategic investment is a huge validation of Genie Malaysia\u2019s differentiating business model,\u201cWe are delighted to strengthen our partnership with DRB-HICOM, which has invested in Carro since 2021,\u201d Aaron Tan, Co-Founder and Group Chief Executive Officer of Carro said. EON Chief Executive Officer and DRB-HICOM of Automotive Distribution Head Akkbar Danial said he believes the investment will benefit both parties. \u201cFollowing our investment in Carro, parent company of used car platform myTukar in 2021, we are excited to deepen this strategic partnership, and are confident that the synergy between our two parties will unlock unprecedented opportunities that will benefit our customers and drive mutual success,\u201d he said. He added that the experience of both parties in their respective markets will be mutually beneficial. \u201cAs we venture into game-changing technology, our accumulated experience brings valuable insights and expertise to the table,\u201cWe believe this experience will greatly benefit both parties as we navigate and innovate in this new technological landscape,\u201d he added. Beginning operations only in 2021, Genie Malaysia has successfully built a loan book of nearly MYR 600 million ($125 million) comprising a highly diverse loan portfolio. With a data-centric approach, its non-performing loan (NPL) ratio has been maintained at less than 2 percent, better than most of its peers and even some banks. \u201cGenie Malaysia started because there is a \u2018blue ocean\u2019 market of underserved and unbanked car buyers who are unable to secure traditional bank financing,\u201cWe have been able to combine data as well as the unique strengths of Carro and myTukar to democratise used car financing. Now everyone can own a car,\u201d said Simon Chan, Chief Executive Officer of Genie Malaysia. Carro Chief Financial Officer Ernest Chew noted that Genie Malaysia has been profitable from the first year. \u201cWe have also shown how we can work with banks to help serve the underserved, whilst maintaining low to non-existent NPLs,\u201cToday, we are already working with two leading banks who have provided financing and are in the process of welcoming more,\u201d he added. DRB-HICOM is a firm with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. The firm has 84 companies and more than 45,000 employees group-wide. In the automotive sector, the firm is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. Founded in 2015, Carro is a Southeast Asia\u2019s online used car marketplace. The firm transforms the traditional way of buying and selling cars through proprietary pricing algorithms, artificial intelligence (AI)-enabled capabilities, and innovative technological solutions. The unicorn startup has raised over SGD 800 million ($583 million) from Softbank Vision Fund and several sovereign funds. It recorded its best-ever full-year positive earnings before interest, taxes, depreciation and amortization (EBITDA) of $4 million in FY2023. The group has a strong key presence in Singapore, Malaysia, Indonesia and Thailand, and has recently expanded into Japan and Taiwan. Malaysia\u2019s DRB-Hicom and China\u2019s Geely set framework for development of Automotive Hi-Tech Valley"}, {"url": "https://technode.global/2023/10/26/infinaxis-data-centre-platform-breaks-ground-on-its-inaugural-data-center-in-cyberjaya/", "page": 11, "title": "Infinaxis Data Centre Platform breaks ground on its inaugural data center in Cyberjaya", "contents": "Infinaxis Data Centre PlatformLocated in Cyberjaya, one of the largest internet data center (IDC) hubs in Malaysia, the seed investment consists of two greenfield sites with a combined plot area of 12,490 square meters, Gaw Capital Partners said in a statement. According to the statement, the business plan is to develop a 12 MW IT Load IDC facility with the GFA of 17,427 sqm on one of the plots. The construction is expected to complete in the second quarter of 2025. The information technology (IT) capacity potentially will be doubled in the future, with the second plot to be developed as an expansion site. It is noted that more than 80 percent of phase 1 has been committed via signed leases and customer letters of intent prior to construction commencement, with the remaining space to be leased to wholesale colocation customers. Infinaxis Data Centre Platform was formed in February 2023, to invest into greenfield assets across key markets in the Southeast Asia region, with the aim to create a portfolio of Tier-3 certified data center assets. \u201cWe are thrilled to witness this remarkable moment of groundbreaking of the inaugural infinaxis data center with our esteemed guests, partners and teams. It is a significant step for the platform and a testament to our commitment to Malaysia\u2019s growing digital economy, \u201cWe believe in the Malaysia\u2019s growing economy and its potential and look forward to participating in fostering digital transformation in Malaysia and Southeast Asia,\u201d said Kenneth Gaw, President and Managing Principal of Gaw Capital Partners. According to the statement, Asia represents as one of the geographic frontiers in the data center space with greater opportunities. The Gaw Capital data centre platform will also comprise data centres located in China, Indonesia, Japan, South Korea, Vietnam and Malaysia. Gaw Capital Partners is a private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, the firm runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm\u2019s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects. Gaw Capital has raised seven commingled funds targeting the APAC region since 2005. The firm also manages value-add/opportunistic funds in the United States, a Pan-Asia hospitality fund, a European hospitality fund, a Growth Equity Fund. It also provides services for credit investments and separate account direct investments globally. Gaw Capital has raised equity of $22.1 billion since 2005 and commanded assets of $35.2 billion under management as of the second quarter of 2023. Japan\u2019s NTT launches $50M data center in Malaysia"}, {"url": "https://technode.global/2023/10/26/nadia-omer-takes-the-helm-at-airasia-move-as-chief-executive-officer/", "page": 11, "title": "Nadia Omer takes the helm at airasia MOVE as Chief Executive Officer", "contents": "Airasia MOVE (formerly airasia Superapp) has announced Nadia Omer as its new Chief Executive Officer effective October 26, 2023, taking the helm from Mohamad Hafidz Mohd Fadzil who served as airasia MOVE\u2019s acting Chief Executive Officer since April this year. Airasia said in a statement on Thursday that Nadia has an impressive track record in category conversion, consumer habit change, and ecosystem value creation from her career journey spanning her early days at P&G to her roles at Nestle and PepsiCo. She most recently served as the Chief Business Officer of Cars24, Southeast Asia before joining airasia MOVE. She brings with her a wealth of experience to steer airasia MOVE forward to become the preferred travel platform of the region with the best value. Omer holds a Master of Business Administration from the Lahore University of Management and a Bachelor of Science degree in Mathematics, Statistics and Economics. \u201cWe are excited for the future of airasia MOVE, as we welcome Omer into what we will say is a pivotal moment for the organization,\u201d said Tony Fernandes, Chief Executive Officer of Capital A and Executive Chairman of MOVE Digital. He said he has been actively interacting with Omer since the initial announcement of her appointment back in September and has no doubt that she will hit the ground running the moment she officially steps in. \u201cAs announced last month, we are entering into a new era of travel innovation, and I believe that Nadia\u2019s multifaceted background has uniquely positioned her to lead airasia MOVE forward as Asean\u2019s preferred one-stop travel platform,\u201d he said. According to Fernandes, Omer will also be working closely with BigPay, led by Zubin Rada Krishnan to offer seamless access to travel and financial services on one single platform, with integrated financial features. Meanwhile, Omer said that it\u2019s a privilege to take the helm of airasia MOVE, and she looks forward to working with Allstars across the region to create the next growth curve in the group\u2019s journey. \u201cMy first priority and commitment is our airasia MOVE customers, always offering best-in-class value and industry-leading products to make travel that much easier, safer and fun,\u201cI count on our teams to make every trip a delightful one so that we can win our customers\u2019 hearts to make airasia MOVE the travel app of choice in Asean,\u201d she added. MOVE Digital Sdn Bhd (formerly known as airasia Digital Sdn Bhd) is the digital arm of Capital A Berhad, and encompasses two transformative businesses: airasia Superapp (now airasia move) and BigPay. MOVE is dedicated to revolutionizing the travel and financial services sectors by offering innovative, user-centric solutions at the best value. It is noted that airasia MOVE has swiftly become a one-stop travel platform offering value and convenience through seamless end-to-end booking experiences within the past two years, while BigPay has established itself as an innovative fintech provider enabling Southeast Asians to improve their lives through better financial management. Airasia MOVE is the online travel agent+ (OTA+) providing a seamless and personalized experience for travellers at the best value in Asean and beyond. It envisions travel complemented by a community-led experience through features such as airasia chat, games, gifting, and a strong loyalty program that rewards users across its expansive ecosystem. Airasia MOVE\u2019s ecosystem includes OTA services such as flight bookings from over 700 airlines, including AirAsia and 900,000 hotels world-wide plus ride-hailing, dining experiences, insurance, duty-free shopping and more, underpinned by integrated financial services by BigPay. Airasia Digital rebrands as next MOVE with new leadership"}, {"url": "https://technode.global/2023/10/26/malaysias-careplus-diversifies-its-business-to-electric-vehicles/", "page": 11, "title": "Malaysia\u2019s Careplus diversifies its business to electric vehicles", "contents": "Malaysia-listed glove maker Careplus said in a statement on Thursday that it has undertaken a joint venture with Malaysia-based EV firm Go Auto to import electric vehicles under the Neta brand, by taking up a 30 percent stake in Intro Synergy Sdn Bhd (ISSB), a wholly owned subsidiary of Go Auto through a share swap. Careplus has also undertaken a joint venture with Go Auto in setting up a manufacturing and assembly hub for new energy vehicles through a newco named NexV Manufacturing Sdn Bhd (NMSB) with a 51 percent stake and the balance of 49 percent by Go Auto. NMSB will have an assembling capacity of 30,000 units per year in its first phase. Neta will take up 10,000 units while the balance will be opened to other interested parties. According to statement, the firms have received decision letters from Ministry of Investment, Trade and Industry (MITI) in Malaysia, approving their manufacturing license with the standard conditions to comply with department of environment and local authority. It is noted that the firms plan to begin assembling by the end of 2024. They will start by assembling up to 10,000 NETA cars as the capacity of the facility stands at 30,000 units a year. It is also noted that there are other brands which are interested to join them as they need a facility for completely knocked down (CKD) manufacturing. \u201cWe will invite them to partner with us. Our aim is that we manufacture up to 30,000 units before going on to the second and third phases,\u201d the statement said. According to the statement, the capital expenditure (capex) requirement for the two buildings will be approximately MYR230 million ($48 million). Careplus said it expects to fund MYR 60 million ($12.53 million) to MYR 70 million ($14.62 million) internally, while the balance will come from bank borrowings. Careplus said the firm has plan to develop a Careplus Mall into an auto city, in which \u201canything related to auto or new energy\u201d will be made a part of it.  It said its flagship NETA showroom will be at the Careplus Mall which will have high speed charging stations for EVs, to be installed by Gentari, a clean energy unit under Petronas. It is noted that Careplus Mall will complement the auto side of businesses with a variety of food & beverage outlets, badminton courts, a TVET training academy and other suitable businesses or activities. On September 4, Careplus had entered into agreements in relation to the proposed ISSB joint venture which involves the purchase of 300,000 shares in ISSB equivalent to a 30 percent equity stake in ISSB. The deal will be satisfied by way of a share swap via the issuance and allotment of the 2.5 million new ordinary shares in Careplus valued at MYR 6 million ($1.25 million). The principal objective of ISSB is to undertake the EV distributorship in connection with the EV manufactured under the \u201cNETA\u201d brand whereby ISSB will import certain models of NETA EV for distribution in Malaysia, on an exclusive basis. ISSB has also been appointed as the sole and exclusive distributor for certain models of NETA EV for the territory of Malaysia. Careplus is a public listed company in Malaysia, headed by Chief Executive Oficer Lim Kwee Shyan. Go Auto is a 100 percent bumiputra, privately owned company headed by SM Azli SM Nasimuddin Kamal, who is currently Chief Executive Officer of ISSB. He will be appointed to head NMSB as Chairman of Board of Directors. Malaysia\u2019s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by"}, {"url": "https://technode.global/2023/10/25/malaysias-capital-a-prepares-to-raise-more-than-1b-in-debt-equity-as-it-prepares-new-york-spac-listing-report/", "page": 11, "title": "Malaysia\u2019s Capital A prepares to raise more than $1B in debt, equity as it prepares New York SPAC listing \u2013 report", "contents": "Malaysia-headquartered Capital A Bhd, also the parent of budget airline AirAsia, is planning to raise more than $1 billion in debt and equity, and will list some of its businesses through a blank-cheque company, the Capital A Chief Executive Officer Tony Fernandes is said to be planning to raise more than $1 billion in debt and equity for his conglomerate and preparing to list some of its businesses through a blank-cheque company in New York, according to the report. Fernandes has agreed a deal with Aetherium Acquisition, a special purpose acquisition company trading on NASDAQ, and plans to list several businesses through it next year, the Capital A has been classified as a distressed company by the Malaysian stock exchange, a categorisation known as Practice Note 17 that subjects companies to greater regulatory scrutiny. It has applied to exit PN17 status. The deal with Aetherium is expected to be finalised in early 2024, one person added, according to the Fernandes first flagged a SPAC listing in an interview with theAccording to the report, the new entity will be renamed \u201cCapital A International\u201d and contain a new AirAsia franchise business that will help launch airlines in countries such as Bangladesh and the Maldives. It will also include its consulting arm and aircraft leasing business. Capital A did not immediately respond to Before the SPAC deal, the company is said to be hoping to secure more than $1 billion in new equity and debt over the next few months, according to one of the people, the FT\u2019s report added. This includes a $150 million loan from Bangkok Bank this month, a deal agreed despite the PN17 status. Capital A is planning a $400 million loan in the form of a revenue bond to be paid out of airline ticket sales, mostly from private credit funds. A plan to raise $300 million in fresh equity from investors in the first quarter of 2024 is under discussion, the report said, adding that the group has also inked $175 million in separate fundraising deals for Teleport, Move and Asia Digital Engineering. Previously known as AirAsia Group, the group was renamed Capital A in Tony Fernandes plans US listings for AirAsia airline & super app \u2013 report"}, {"url": "https://technode.global/2023/10/25/airasia-move-achieves-new-record-of-15-4-million-average-monthly-active-users-in-third-quarter/", "page": 12, "title": "Airasia MOVE achieves new record of 15.4 million average monthly active users in third quarter", "contents": "Airasia MOVE, which was rebranded recently from airasia Superapp, has achieved a new record of 15.4 million average monthly active users in the third quarter, up by 61 percent year on year. Its parent firm Capital A said in a statement on Wednesday that this has led to another new high of 8.3 million transactions, up by 65 percent year on year. According to the statement, airasia MOVE gross booking value (GBV) also showcased substantial progress across all business segments, exhibiting a commendable 61 percent year on year growth. In terms of travel, the platform  achieved 62 percent GBV improvement driven by the upsurge in passengers carried and complemented by  expanded  offerings including hotels and flights. As for ride-hailing, the platform achieved over 100 percent increase in GBV contributed strongly by the incremental sign-up of drivers to deliver the service, particularly in the airport ride segment. As for airasia rewards and other businesses, the platform recorded 13 percent GBV growth, largely attributed to an increased appetite among travellers for a seamless experience to book their travel needs in one platform, coupled with the ability to earn and burn loyalty points across the airasia MOVE ecosystem. Meanwhile, BigPay continues to thrive, with carded users increasing by 14 percent year on year, now reaching 1.5 million users. Its gross Transaction Value (GTV) has also shown encouraging progress, rising by 24 percent year on year with broad-based growth across all products. All payment services continue to show an upward trend, on the back of stronger collaboration with airasia MOVE where closed loop payments within the ecosystem grew by 47 percent year on year. In terms of remittance, the domestic transactions delivered the strongest growth, up 122 percent year on year. International remittances GTV also grew 11 percent year on year despite headwinds from a weakened Malaysian Ringgit. As for lending, the new loan disbursements reached a record high, growing 202 percent year on year, attributed to the enhanced credit scoring methodology to identify low-risk applicants during the quarter.  In terms of marketplace, the GTV grew by 42 percent year on year, largely owing to strong take up in mobile prepaid top-ups launched earlier this year. Meanwhile, Capital A\u2019s logistics business Teleport continued to deliver strong quarterly performance in its core operational metrics. In terms cargo segment, it delivered 57,309 tonnes, a 115 percent increase year on year. This success is further underscored by a healthy belly utilization rate of 15 percent, up from 12 percent year on year, an achievement made possible by the return of international flights, which significantly expanded usable belly capacity. As for delivery segment, it continued to post impressive growth, delivering 7.4 million parcels during the third quarter of 2023. To date, this segment has delivered 17.9 million parcels \u2013 already more than double the levels achieved in FY2022. This achievement was commendable despite some challenges in the overall e-commerce industry. It is noted that Teleport\u2019s first dedicated A321F aircraft, Awan, flew its first international flight to Hong Kong in August, marking a significant milestone in Teleport\u2019s regional expansion efforts. Teleport continues to build capacity through the return of AirAsia\u2019s entire fleet, the deployment of 3 A321F aircraft as well as close  strategic third-party airline partnerships. Airasia Digital rebrands as next MOVE with new leadership"}, {"url": "https://technode.global/2023/10/25/malaysias-hextar-technologies-ventures-into-fintech-with-the-launch-of-mobile-super-app/", "page": 12, "title": "Malaysia\u2019s Hextar Technologies ventures into FinTech with the launch of mobile super app", "contents": "Malaysia-listed logistics, building materials and technology firm HexTech said in a statement on Wednesday that the app which was first released by its wholly-owned fintech unit Hextar Vision Sdn Bhd (Hextar Vision) in September 2023, is a personal financial information management app with artificial intelligence (AI) supported tools. It said MoneyX aims to promote financial literacy and management, by making information pertaining to available financial products and services accessible and easily understandable to users, and thus, empowering users in making responsible and informed financial decisions. MoneyX also includes a secure digital vault where users can store important documents like bills, insurance policies, and agreements, ensuring easy access and organization. Users are also given the option to utilize the reminder / notification feature in MoneyX which will prompt users regarding any upcoming payment or renewal deadlines. In conjunction with the soft launch, Hextar Vision also unveiled partnership with more than 14 partners namely Alliance Bank Malaysia Berhad, Hong Leong Bank Berhad, Standard Chartered Bank Malaysia Berhad, M&A Securities Sdn Bhd, Exsim Development Sdn Bhd, Finology Sdn Bhd, GKash Sdn Bhd, Edge Property Sdn Bhd, ServeDeck Innovation Sdn Bhd, Theta Edge Berhad, Richard Wee Chambers, ShopIQ Sdn Bhd, MWM Myworld Malaysia Sdn Bhd and CTOS Data Systems Sdn Bhd to aggregate their services on MoneyX. MoneyX has also selected Amazon Web Service for deployment of its automated financial information management app, leveraging on its analytics and machine learning capability to deliver personalized contents that transform its users\u2019 financial literacy, and deliver rapid innovation for greater customer experience, setting the standard for Malaysian fintech services. The collaborations aim to offer a seamless experience to MoneyX users to understand and access the different available options in the ecosystem through the use of MoneyX\u2019s artificial intelligence (AI) and machine learning capabilities based on each user\u2019s input. Eddie Ong Choo Meng, the group Chief Executive Officer/Executive Director of HexTech, said that MoneyX is a game-changer to manage a user\u2019s finances, tackling unorganized financial management and simplifies saturated and confusing financial products while providing quick access to finance-related tools in the market. According to him, the collaboration with financial institutions and financial service providers reflect the industry\u2019s excitement towards the offerings envisioned by HexTech in the MoneyX ecosystem as the go-to app for all things in personal finance. \u201cHexTech has put in a lot of effort into MoneyX, which is one of our key initiatives in the pursuit of opportunities in the technology sector, \u201cOur vision for MoneyX is to become the leading fintech company in Malaysia in three years before going global,\u201d he said. With MYR 100 million ($20.93 milllion) allocated to build and promote MoneyX, he said the firm is committed to making this vision a reality. Meanwhile, Muhammad Ibrahim, HexTech\u2019s Chairman, said that MoneyX represents the group\u2019s efforts to change the fintech industry\u2019s approach towards AI-assisted financial management, at the same time ensuring the technology adoption trickles down to benefit the man on the street. \u201cThe greater digitalization in the financial services industry resulted in financial services becoming more diverse and accessible, in line with industry ambition of providing \u2018finance for all\u2019 such as underlined in the Bank Negara Malaysia Financial Sector Blueprint 2022- 2026, \u201cHowever, this evolving landscape has become more challenging for consumers to navigate and properly utilise the tools to be more efficient in their financial management,\u201d he noted. As financial services are increasingly becoming democratized and digitalized, he said the firm is envision MoneyX contributing towards better financial literacy among Malaysians, and providing better wealth management processes for its users. With up to one million users targeted to adopt MoneyX as their financial information management platform in the next one year, HexTech said Hextar Vision is gearing towards enhancing the in-house mobile app with a full integration with all key potential features by end-2024. Malaysian Fintech startup MADCash secures $1M in funding to empower women entrepreneurs"}, {"url": "https://technode.global/2023/10/25/malaysian-stock-exchange-develops-platform-for-firms-to-assess-their-carbon-emissions-impact/", "page": 12, "title": "Malaysian stock exchange develops platform for firms to assess their carbon emissions impact", "contents": "Malaysian stock exchange is developing the Centralized Sustainability Intelligence (CSI) Platform, to be used by both public listed companies (PLCs) and non-listed small and medium enterprises (SMEs) to assess their carbon emissions impact. Bursa Malaysia said in a statement on Tuesday that the platform also allows firm to disclose standardized environmental, social and governance (ESG) data in compliance with both local requirements and global standards, to subsequently facilitate access to sustainable financing. The collaboration between Bursa Malaysia\u2019s CSI platform and JC3\u2019s Greening Value Chain (GVC) program was announced at the JC3 Journey to Zero Conference 2023. According to the statement, the common, overarching goal of the CSI platform and the GVC program is to facilitate an effective and just transition for Malaysian companies, regardless of size \u2013 providing greater access to green capital, improved valuation, and a competitive advantage in global supply chains. The CSI platform complements JC3\u2019s GVC program to facilitate Malaysian companies, particularly SMEs, to green their operations. Under this collaboration, users of the CSI platform can benefit from the GVC program if eligible, whereas SMEs considering to participate in the GVC program can leverage the CSI platform as the reporting tool.  \u201cWe are delighted to expand the utility of the CSI platform, and facilitate more SMEs to tap into JC3\u2019s transition finance facilities, such as the GVC programme,\u201cWe believe by synergising our efforts, together we can unlock opportunities and drive business value across the entire ecosystem spanning regulators, policymakers, PLCs, SMEs and financial institutions,\u201d said Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia. It is noted that Malaysian SMEs will have access to the following GVC program features capacity building to measure, track and report greenhouse gases (GHG) emissions; and financing facilities at better rates via the low carbon transition facility. Meanwhile, users of the CSI platform can benefit via streamlined reporting, accelerated decarbonization and enhanced access to funds. The platform allows users to save time and resources for companies, as inputs only need to be done once to report against global standards such as the Global Reporting Initiative (GRI), Task Force on Climate-Related Financial Disclosures (TCFD) and the upcoming International Sustainability Standards Board (ISSB). The output or reports generated can then be used to address the requirements of stakeholders, which include investors, customers, and financial institutions. Users are allowed to access the platform with ease of monitoring companies\u2019 carbon emissions across their value chain and empowering companies to develop effective decarbonization strategies using data collated from the platform. The platform also provides valuable insights on sustainability performance that will enable companies to increase access to funding for green initiatives.  It is noted that the CSI platform has also been earmarked as an implementation tool of the New Industrial Master Plan that was announced by the Ministry of Investment, Trade and Industry, which will first focus on sectors that will be most impacted by the cross border adjustment mechanism. Designed for interoperability, the CSI platform can likely open up new trade and business opportunities for companies using the platform. In line with this, Bursa Malaysia had recently signed a Memorandum of Understanding with Indonesia Stock Exchange and Stock Exchange of Thailand, to shape common standards for determining ESG performance and carbon intensity as an ASEAN en bloc value proposition, thus facilitating trade and new business opportunities. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/10/24/city-energy-and-gentari-to-study-feasibility-of-building-hydrogen-pipeline-from-malaysia-to-singapore/", "page": 12, "title": "City Energy and Gentari to study feasibility of building hydrogen pipeline from Malaysia to Singapore", "contents": "City EnergyThis follows a Memorandum of Understanding signed in April 2023 between City Energy, Singapore\u2019s sole producer and provider of piped town gas and wholly owned subsidiary of Keppel Infrastructure Trust, and Gentari, a Malaysian clean energy solutions provider wholly owned by Petronas. Gentari said in a statement on Tuesday that the study will be conducted over a period of 12 months. Upon the conclusion of the study, both parties will collectively determine the way forward in relation to the execution of a front end engineering design (FEED) agreement. According to the statement, hydrogen is key to Singapore\u2019s ambition to achieve net zero emissions by 2050. To that end, the government has in October 2022 unveiled its National Hydrogen Strategy as a key decarbonisation pathway. Like Singapore, Malaysia positions hydrogen as a pivotal driver for energy transition. The recently launched National Energy Transition Roadmap as well as Hydrogen Economy and Technology Roadmap will see Malaysia exploring bilateral agreements with key importing countries to develop a low-carbon hydrogen value chain, catalyze project development, and secure long-term green hydrogen offtakes. \u201cThis joint feasibility study with Gentari underscores our commitment to providing sustainable energy to households and businesses for generations to come and to supporting Singapore\u2019s efforts to reduce emissions and address climate change,\u201d said Perry Ong, Chief Executive Officer of City Energy. According to the statement, hydrogen is the largest component in town gas produced at City Energy\u2019s Senoko Gasworks plant in northern Singapore, making City Energy one of the largest last-mile distributors of hydrogen in Singapore. Any pipeline to be established by the parties will supply hydrogen into the Senoko Gasworks plant. The collaboration with Gentari follows City Energy\u2019s ongoing feasibility studies with leading industry partners and institutes of higher learning to explore alternative sources of hydrogen. \u201cThis collaboration with City Energy is a strategic step for Gentari towards accelerating the adoption of clean hydrogen as a viable energy source for customers in Asia Pacific and further afield,\u201d said Mich\u00e8le Azalbert, Gentari\u2019s Chief Hydrogen Officer. \u201cIn line with our aim to produce up to 1.2 million tonnes per annum of clean hydrogen, Gentari is pleased to contribute towards accelerating the development of clean hydrogen through cross-border infrastructure, supporting Malaysia and Singapore\u2019s target to achieve net zero emissions by 2050,\u201d he said. The collaboration between City Energy and Gentari will continue a long-standing cooperation between Malaysia and Singapore. Since 1991, Singapore has been importing natural gas from Malaysia through the 2,623 kilometre-long Peninsular Gas Utilisation pipeline, owned and operated by Gentari\u2019s sister company, Petronas Gas Berhad. Malaysia\u2019s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by"}, {"url": "https://technode.global/2023/10/23/malaysias-jc3-announces-initiatives-to-support-inclusive-transition-to-greener-economy/", "page": 12, "title": "JC3 announces initiatives to support inclusive transition to greener economy in Malaysia", "contents": "The Joint Committee on Climate Change (JC3), a platform established by public and private sectors to boost climate resilience within the Malaysian financial sector, has announced five key initiatives to expedite the transition of businesses and farmers towards low-carbon practices. JC3 said in a statement on Monday the initiatives underline the platform\u2019s commitment to pursue accelerated climate action and emphasizes the critical role of the financial industry in enabling a sustainable agenda for the country. These public and private sector collaborations encompass the following:1. Greening Industrial ParksThis pilot project, in partnership with the Ministry of International Trade and Industry, Malaysian Investment Development Authority and SIRIM aims to transition the management of industrial parks and operations of their tenant companies to low-carbon and sustainable practices. These include developing infrastructure such as integrated waste management, use of renewable energy, measurement, monitoring and reporting of greenhouse gas (GHG) emissions as well as verification systems. Leveraging SIRIM\u2019s cutting-edge S. M. A. R. T solution, designed for sustainable processes and practices, these industrial parks will be able to enhance their efficiency, minimise waste, reduce carbon footprint, and ensure eco-friendly production processes.2. Greening Value Chain programme with Bursa MalaysiaFollowing the positive outcomes from the JC3 Greening Value Chain (GVC) pilot program which was announced in 2022 and has enabled more than 80 participating small and medium enterprises (SMEs) within the supply chain of four corporates to start measuring and reporting their GHG emissions, the Bursa Malaysia\u2019s Centralized Sustainability Intelligence Platform (CSI) is now collaborating with the JC3\u2019s GVC program. Through the collaboration, more SMEs within the supply chain of Public Listed Companies (PLCs) can benefit from capacity-building support, GHG emissions reporting tools, and transition finance facilities.3. MYR 1 billion ($210 million) portfolio guarantee scheme for environmental, social, and corporate governance (ESG) financingCredit Guarantee Corporation Malaysia Berhad (CGC) in partnership with 18 participating banks will offer MYR 1 billion ($210 million) portfolio guarantee scheme. This is for ESG financing to support wider access to financing for SMEs.4. ESG jump-start portalIn addition, a one-stop online portal for SMEs to access foundational information to jump-start their sustainability journey is now available on the JC3 website. The portal contains useful and practical information on capacity-building programs, certification schemes, financial and incentive schemes. It also showcases other relevant resources offered by the financial industry, government agencies and other partner organizations.5. Green AgriTechJC3 is taking steps to further empower the agriculture sector via collaborative partnership with the Ministry of Agriculture and Food Security (MAFS), Lembaga Pertubuhan Peladang (LPP), and the Malaysia Digital Economy Corporation (MDEC) to pilot the Green AgriTech program, with a key focus on the ESG agenda for the agriculture sector. The program aims to encourage the adoption of green technology and sustainable agriculture practices among local farmers. The JC3 has also issued the 2023 Climate Data Catalogue (DC) on its website, reflecting the latest set of data needs and sources. The 2023 DC is more comprehensive, incorporating additional data items compared to the first version issued in December 2022. The latest release now features a total of 249 granular data items mapped to 399 data sources from 135 data providers. The availability of required data items in terms of sources, time-series and granularity has also improved. \u201cThe bank will continue to provide a facilitative policy environment for the industry to advance financial innovations and explore novel financial structures needed to meet the significant financing needs for climate risk mitigation and adaptation, \u201cThis will need to include a more prominent role for public-private partnerships and innovative blended finance structures,\u201d said Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia. Dr. Awang Adek Hussin, Chairman of Securities Commission Malaysia, said that considering the huge financing requirement for sustainable development and energy transition, the financial sector, particularly the capital market, must continue to facilitate financing and investments in these key areas to support the government\u2019s priorities. \u201cAs such, the capital market should be ready to facilitate fundraising and investments to achieve sustainability and climate goals,\u201d he added. Nik Nazmi Nik Ahmad, Minister of Natural Resources, Environment and Climate Change also said that the very ethos of the governing frameworks of this administration, namely the Malaysia Madani and Ekonomi Madani, have sustainability at their core. \u201cSince taking office, we have set into place various measures to both contribute to climate action and transform our economy,\u201cIndeed, the Budget 2024 continues to build on the Ekonomi Madani with holistic measures to address climate change and complement other policies such as the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) 2030 and the Mid-Term Review of the 12th Malaysia Plan (MTR-12MP),\u201d he added. The JC3 is a platform established in September 2019 to pursue collaborative actions for building climate resilience within the Malaysian financial sector. The JC3 is co-chaired by Jessica Chew Cheng Lian, Deputy Governor of Bank Negara Malaysia and Kamarudin Hashim, Managing Director of Securities Commission Malaysia, with members comprising senior officials from Bursa Malaysia and 21 financial industry players. The JC3\u2019s initiatives and priorities are undertaken by its five sub-committees, namely Risk Management; Governance and Disclosure; Product and Innovation; Engagement and Capacity Building; and Bridging Data Gaps. An SME Focus Group has been recently established to develop strategies and solutions that support transition by SMEs. Malaysia\u2019s TNB and Siemens Energy join forces in green hydrogen advancements"}, {"url": "https://technode.global/2023/10/20/malaysias-epmb-invests-21m-for-new-car-manufacturing-facility-in-melaka/", "page": 12, "title": "Malaysia\u2019s EPMB invests $21M for new EV car manufacturing facility in Melaka", "contents": "Malaysia-listed In a joint statement on Friday, EPMB and Malaysian Investment Development Authority (MIDA) said that this strategic move is part of EPMB commitment to establishing a manufacturing hub for energy-efficient vehicles (EEVs) and EVs in Malaysia, contributing significantly to the global shift towards sustainability. According to the statement, the establishment of the new facility will unfold in several phases at the HICOM Pegoh Industrial Park. This project is poised to create around 1,000 new job opportunities in the state of Melaka, bolstering the state\u2019s growing significance within the regional and global EV industry. Upon completion, the first phase of this new facility will have the capacity to produce up to 30,000 vehicles a year. This milestone project for the group solidifies EPMB\u2019s strategic partnership with BAIC International Development Co Ltd (BAIC International), a Fortune Global 500 company and a major player in China\u2019s automotive industry. EPMB signed a Memorandum of Understanding (MoU) with BAIC International in August, paving the way for local production of BAIC\u2019s BJ40P and X55II sport utility vehicles (SUVs), right-hand drive (RHD) internal combustion engine (ICE) vehicles, and EVs. EPMB also expects to assemble vehicles for Great Wall Motor Sales Malaysia Sdn. Bhd. (GWM Malaysia), a subsidiary of Great Wall Motor Co. , Ltd. (GWM) at this plant, based on the MoU which was signed by both parties on October 18, 2023. \u201cThe establishment of an EV manufacturing facility is a pivotal step in realizing our comprehensive vision of developing a 360 supply chain for Malaysia\u2019s EV market,\u201d said Ahmad Razlan Mohamed, Group Chief Executive Officer of EP Manufacturing Berhad. \u201cCollaborating closely with our strategic partner, BAIC, we are poised to construct a cutting-edge EV manufacturing facility in Melaka, heralding the commencement of the next chapter in our growth trajectory, \u201cAdditionally, we are keenly looking forward to collaborating with GWM, our esteemed customer, in contributing to position Malaysia as a central hub for EV and EEV in the ASEAN region,\u201d he added. EPMB received approval for a manufacturing license from Malaysia\u2019s Ministry of Investment, Trade, and Industry (MITI) on July 11, 2023 allowing the manufacture and assembly of four-wheel EEVs, electric passenger vehicles, and electric commercial vehicles. \u201cSuch collaboration with BAIC is a testament of their confidence in Malaysia\u2019s attractiveness as an investment destination and underscores the nation\u2019s cutting-edge automotive manufacturing capabilities, with EPMB leading the way,\u201d said Wira Arham Abdul Rahman, Chief Executive Officer of MIDA. According to him, this new manufacturing facility, dedicated to EEVs and EVs, perfectly aligns with the Low Carbon Mobility Blueprint (LCMB), National Automotive Policy (NAP) 2020 and Malaysia\u2019s New Industrial Master Plan 2030 (NIMP 2030) aspirations. \u201cThese policies are rooted in harnessing opportunities in ESG sensitive markets and swiftly adopting technology to enhance the technological ecosystem of our manufacturing sector and Malaysia\u2019s commitment towards sustainable transportation,\u201d he added. It is noted that Malaysia has successfully secured MYR 26.2 billion ($5.5 billion) in approved investments for the EV sector through 59 projects from 2018 to the first half of 2023. The government, through MITI and MIDA, is dedicated to facilitating investment opportunities and promoting growth in the EV automotive segment. Listed in 1997, EPMB is an automotive supplier operating five plants and factories located across Malaysia, supplying modular assemblies, safety and critical components to carmakers including Proton, Perodua, Honda, Mazda, Toyota & Kia. Aiming to be a leading automotive player, EPMB is providing a 360\u00b0 supply chain for Malaysia\u2019s EV market, spanning manufacturing, assembly, sales, and marketing of EVs. Under this initiative, EPMB is partnering with major automotive players to manufacture, assemble and distribute EVs, such as Blueshark electric scooters, in Malaysia and other Southeast Asian markets. Malaysia\u2019s DRB-Hicom and China\u2019s Geely set framework for development of Automotive Hi-Tech Valley "}, {"url": "https://technode.global/2023/10/19/malaysias-plus-and-gentari-roll-out-modular-portable-ev-fast-charging-station-with-bess-at-behrang-lay-by/", "page": 12, "title": "Malaysia\u2019s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by", "contents": "Malaysian expressway service providerGentari said in a statement that the launch was conducted by its wholly-owned subsidiary Gentari Green Mobility Sdn Bhd. According to the statement, the integrated chargers for public use, which combine the use of solar panels and BESS, are the first of its kind to be set up in the country. Each site will have a DC charging power up to 200 kW, and four charging points will be set up per location. The proposed four sites are Behrang Lay-by (Northbound and Southbound) in Perak and Senawang Lay-by (Northbound and Southbound) in Negeri Sembilan. Three more locations will be proposed at Ajil (Northbound and Southbound), and Perasing Rest and Service Area (R&R) sites, all on Lebuhraya Pantai Timur 2 (LPT2) in Terengganu. In addition, the Alternating Current (AC) charging points at existing Petronas petrol stations at PLUS\u2019 R&Rs and lay-bys are being upgraded to Direct Current Fast Charging (DCFC) points. Gentari will also develop DCFC charging points at additional Petronas petrol stations along PLUS highways and nearby locations, targeted for full completion by 2024. Malaysia\u2019s Minister of Works Alexander Nanta Linggi said the collaboration between PLUS and Gentari, is a significant joint effort that can harness the unique strengths of each organization to support an environmentally friendly transportation system, creating a more conducive environment for the use of eco-friendly vehicles. \u201cAt the Ministry, we are committed to achieving Malaysia\u2019s sustainability goals, and I believe that this collaboration will play a crucial role in inspiring the people of Malaysia to support low-carbon transportation solutions, in line with the objectives outlined in the 12th Malaysia Plan (RMK-12), the Malaysia Green Technology Master Plan (GTMP), and the Low Carbon Mobility Development Plan (LCMB),\u201d he said. PLUS Managing Director Nik Airina Nik Jaffar said that as Malaysia\u2019s largest highway operator and a national strategic partner, PLUS committed to support and contribute to the national sustainability agenda. According to him, the firm collaborated with the Ministry of Works, Malaysian Highway Authority and key industry players to establish an infrastructural development of EV charging station roadmap whereby it aims to facilitate the installation of 100 DCFC EV charging stations across our highways by 2025.  \u201cThis creates an ecosystem that is conducive for the Malaysians to transition into EV,Gentari Deputy Chief Executive Officer and Gentari Green Mobility Chief Executive Officer Shah Yang Razalli said that this partnership with PLUS and the Malaysian Highway Authority represents a significant step forward in their efforts to boost the growth of the EV ecosystem in Malaysia while prioritizing the needs of our customers. \u201cPLUS, as a prominent highway operator in Malaysia, plays a crucial role in enhancing the infrastructure and facilities that Malaysian drivers rely on,\u201cThis, in turn, will increase range confidence and the desire to adopt EVs,\u201d he said, adding that Gentari and its partner, EV Connection Sdn Bhd (EVC), are excited about this collaboration to introduce the EV Fast Charging Modular and Portable Station. To date, since its introduction in June 2022, Gentari has deployed over 180 charging points in Malaysia and over 160 charging points in India, through its affiliated entities. With a mission to be Asia Pacific\u2019s most valued clean energy solutions partner by 2030, Gentari aims to capture over 10 percent market share of charge points and vehicle-as-a-service (VaaS) offerings, across key markets in Asia Pacific. Malaysia\u2019s Sime Darby Motors partner Gentari to drive green mobility and clean energy solutions"}, {"url": "https://technode.global/2023/10/19/malaysias-tnb-and-siemens-energy-join-forces-in-green-hydrogen-advancements/", "page": 12, "title": "Malaysia\u2019s TNB and Siemens Energy join forces in green hydrogen advancements", "contents": "Malaysian utility firm TNB said in a statement on Thursday that TNB has recently formalized an agreement through a Memorandum of Understanding (MoU) with Siemens Energy. This MoU provides TNB with access to cutting-edge knowledge and expertise as well as resources in hydrogen-based power generation, with a specific focus on green hydrogen production using electrolyser and RE generation sources such as pumped hydro and solar. \u201cPartnering with Siemens Energy aligns seamlessly with TNB\u2019s Energy Transition aspiration, propelling us toward our goal of achieving net zero emissions by 2050,He further emphasized that this MoU establishes a framework for the exploration of inventive solutions and cutting-edge technologies aimed at achieving cost-effective green hydrogen production in Malaysia while addressing the associated challenges. It is noted that under the National Energy Transition Roadmap (NETR), hydrogen and ammonia co-firing is recognized as one of the flagship projects and TNB is selected as a champion to lead its deployment, in collaboration with Petronas, as part of the national decarbonization initiative. This underpins the need to analyze the techno-economics aspects of hydrogen cofiring as well as balancing the security and affordability of energy produced from hydrogen co-fired power plants. The partnership with Siemens Energy will also empower TNB to delve into and enhance its capabilities in specifying, procuring, building, operating, maintaining, and overseeing the contractual and financial aspects of hydrogen production and its application for co-firing in thermal power plants. Additionally, the MoU facilitates the exchange of knowledge and technology transfer, enabling TNB to bolster its internal competencies and maintain a leading position in the field of hydrogen-related production and utilization technologies. The collaboration with Siemens Energy will also foster international cooperation and solidify TNB\u2019s standing as a leading player in the global energy transition toward sustainable and carbon-neutral practices in the energy sector. Malaysia\u2019s TNB accelerates commitment to 3 NETR flagship project in large scale clean energy and RE zones"}, {"url": "https://technode.global/2023/10/18/malaysia-releases-simplified-esg-disclosure-guide-for-smes-in-supply-chains/", "page": 12, "title": "Malaysia releases simplified ESG disclosure guide for SMEs in supply chains", "contents": "Capital Markets Malaysia (CMM)CMM said in a statement that the SEDG consolidates and simplifies the many complex global and local ESG-related frameworks to improve the availability of ESG data and information by SMEs. In formulating the guide, it said public and market consultations were conducted with multiple stakeholder groups \u2014 including large multinational and public listed companies (PLCs), SMEs, and regulatory and policy stakeholders \u2014 to better understand the disclosure challenges, needs and expectations of SMEs within the supply chain. \u201cAs the global sustainability movement forges ahead amid heightened regulatory scrutiny and investor demand for more deliberate company action towards net zero goals, the SC is committed to ensuring that our companies, both large and small, are prepared to meet global ESG requirements,\u201d said Dr. Awang Adek Hussin, Executive Chairman of SC, and Chairman of CMM. Recognizing that SMEs are particularly exposed to risks from supply chain vulnerabilities, he said the SC welcomes the release of the SEDG which will help SMEs get ahead of the curve and remain relevant in a constantly evolving global marketplace. \u201cAs we collectively transform and elevate Malaysia\u2019s economic system through the adoption of international standards and best practices, it is important to ensure that no SME is left behind,\u201cTo support inclusive and extensive adoption, CMM will launch the Bahasa Malaysia and Simplified Mandarin versions of the SEDG by end 2023,\u201d he added. According to the statement, the release of the SEDG is aligned with recent national policy initiatives aimed at elevating business in Malaysia towards a synergy in commercial success and sustainability, particularly in the manufacturing sector, as the nation steps up its net zero commitments. These include the New Industrial Master Plan (NIMP) 2023, as well as the Industry Environmental, Social, and Governance (i-ESG) Framework and National Energy Transition Roadmap (NETR). The SEDG comprises 35 priority disclosures that are aligned with local and global sustainability guidelines which will enable SMEs to respond to disclosure requests from multiple stakeholders, including but not limited to customers, investors, banks and regulators. It is further categorised into Basic, Intermediate and Advanced, to cater to the different levels of sustainability maturity of each SME. The disclosures are applicable across all industries with different levels of priority, and SMEs are encouraged to determine the significance and relevance of these disclosures to their companies. \u201cThe journey of adopting sustainable practices can be daunting for SMEs. As such, our goal is to empower them with a framework that provides straightforward guidance that is structured and practical for SMEs to navigate the process of tracking and reporting their ESG data,\u201d said Navina Balasingam, the General Manager of CMM. \u201cBeyond the Guide, CMM has also launched our SEDG Adopter Program to support supply chain actors,\u201d she said. The Adopter Program will provide SMEs with access to in-person training, tutorials, and workshops nationwide to guide SMEs in disclosing ESG data. The program aims to facilitate learning and sharing of experiences from a community of practitioners facing similar successes and challenges in implementing ESG reporting. \u201cWe are encouraged by the overwhelming reception to the SEDG Adopter Programme which includes major multinational supply chain players, SMEs, numerous financial institutions, government agencies and NGOs, as well as several local chambers of commerce, \u201cTheir commitment to encourage and support SMEs within their networks to develop ESG reporting practices is highly commendable,\u201d Balasingam added. According to the statement, the early adopters of the SEDG from the various categories include CIMB Bank, Credit Guarantee Corporation, Generali, Hong Leong Bank, Malaysia Venture Capital Management (MAVCAP), Maybank, Nestl\u00e9 Malaysia, PANTAS, Penjana Kapital, Thoughts in Gear (TIG), UOB Bank and Volvo Trucks Malaysia. The rest include Dewan Perniagaan Melayu Malaysia (DPMM), The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), The Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI), Small and Medium Enterprises Association (SAMENTA), SME Association of Malaysia, Malaysian Dutch Business Council (MDBC), Business Finland and UN Global Compact Network Malaysia & Brunei. The SEDG is aligned to global, local and government frameworks and reporting standards including the Global Reporting Initiative (GRI), the International Sustainability Standards Board (ISSB), the Bursa Malaysia Listing Requirements, Bursa\u2019s Sustainability Reporting Guide as well as the Malaysian Code on Corporate Governance (MCCG). CMM also plans to launch specialized sectoral disclosure guidance in early 2024. Capital Markets Malaysia launches Corporate Venture Capital Program to advance local ecosystem"}, {"url": "https://technode.global/2023/10/18/singapore-polytechnic-partners-mranti-to-catalyze-cross-border-technological-progress/", "page": 12, "title": "Singapore Polytechnic partners MRANTI to catalyze cross border technological progress", "contents": "Post-secondary education institution Singapore Polytechnic said in a statement that the duo have signed the memorandum of understanding (MOU) for the collaboration that encapsulates their shared vision and commitment to drive innovation, exchange knowledge and catalyze technological progress. Through the internship opportunities at MRANTI, Singapore Polytechnic students will be able to broaden their exposure to research and gain hands-on work experience in cutting-edge areas such as the development of drones and robotics. Both institutions will work together to develop an Exploration and Innovation platform inspired by Singapore Polytechnic\u2019s Sustainable Innovation Project, a key aspect of  Singapore Polytechnic\u2019s core curriculum for their students to address real-life issues faced in society. Together, students from Singapore Polytechnic and the Malaysian universities, identified by MRANTI, will work on multi-disciplinary sustainability projects, leveraging design thinking methodology to address industry challenges. To nurture the spirit of technopreneur ship and entrepreneurship and promote cross-cultural collaborations, the students can also look forward to hackathons, ideathons, boot camps and facility visits. \u201cWe are thrilled to embark on this transformative partnership with MRANTI from Malaysia. We share a common dream of nurturing future leaders in innovation within vital sectors such as artificial intelligence (AI), sustainability, and manufacturing,\u201cThis partnership will also bring education out of the classroom beyond bordersMeanwhile, MRANTI Chief Executive Officer Dr Rais Hussin said that through this partnership, MRANTI will collaborate with Advanced Manufacturing Centre\u201cOur joint venture aims to accelerate commercialization opportunities in various verticals, opening doors for businesses within the Singapore Polytechnic Innovation Ecosystem to explore soft landing opportunities in Malaysia through MRANTI,\u201d he added. In addition to the MOU signing with MRANTI, Singapore Polytechnic will also be signing MOUs with other industry partners (AI Singapore, Singapore Environment Council [SEC], Singapore Manufacturing Federation [SMF], Smart i4.0 Transformation Alliance [SiTA], and T\u00dcV S\u00dcD). The collaboration between Singapore Polytechnic and AI Singapore will see the joint promotion of AI industry programs offered by both parties, industry benchmarking for AI readiness, AI learning resources and staff exchanges. As a national AI program launched by the National Research Foundation to anchor deep national capabilities in AI, AI Singapore (AISG) and Singapore Polytechnic\u2019s Data Science and Analytics Centre (DSAC) will push to accelerate the adoption of AI in Singapore as well as grow AI proficient talent pools. Singapore Polytechnic will integrate AISG\u2019s AI Data Apprenticeship Program (AIDP) into its Minor in Data & Artificial Intelligence, and sell AIDP program take-up for adult learners and companies. AISG will assist in strengthening Singapore Polytechnic\u2019s experiential lab\u2019s (XLab) staff capability to effectively support industry outreach for AISG\u2019s programs through industry attachments with AISG. As for Singapore Polytechnic and SEC, both parties will jointly promote and conduct GreenDNA and Eco certification to encourage organizations to adopt a low-carbon lifestyle and green mindset via internationally recognized carbon emission reduction (CER) reports and GreenDNA certificate. Singapore Polytechnic staff will be trained by SEC as auditors to conduct the GreenDNA and Eco certification, enabling its students and staff to support SEC\u2019s activities in promoting environmental sustainability. Students and staff from Singapore Polytechnic will also get the opportunity to be attached to SEC to serve as environmental ambassadors, such as Earth Helpers and undertake projects advancing the sustainability agenda. The collaboration between Singapore Polytechnic and T\u00dcV S\u00dcD will seek to create an ecosystem to empower enterprises to achieve sustainable manufacturing through three phases, namely, awareness and evaluation through  Singapore Polytechnic\u2019s Advanced Manufacturing Learning Journey (SP-AMLJ), implementation through the partner ecosystem and creating champions for the industry. Both partners will also develop content for workforce upskilling training programs with the application of sustainable manufacturing for enterprises, and conduct joint training and certification of workforce upskilling training programs. Singapore Polytechnic and SiTA, on the other hand, will work together on projects involving the setting up of an Advanced Manufacturing Learning Journey, which will house equipment for Pre-Employment Training, Continuing Education and training, and industry training. As for Singapore Polytechnic and the SMF, the duo will be collaborating on activities to drive sustainability efforts in the advanced manufacturing ecosystem, which will see manufacturers gaining an appreciation of the phasing of digital and sustainable technologies for the shop floor. They will explore innovative solutions, which will tailored to the specific needs of the manufacturing sector, rather than offering a generic off-the-shelf solution. SMF will co-develop, co-promote, and co-deliver a comprehensive series of programs together with Singapore Polytechnic, which are targeted at promoting sustainable solutions and best practices. Both partners will also nurture and develop local, sustainable manufacturing champions and a community of like-minded manufacturers who can demonstrate the effectiveness of enterprise adoption of sustainability technology and adherence to future sustainability standards. MRANTI launches Malaysia innovation matching platform to propel commercialization rate"}, {"url": "https://technode.global/2023/10/18/uob-malaysia-launches-sustainability-accelerator-program-to-empower-and-accelerate-malaysian-smes-sustainability-journey/", "page": 13, "title": "UOB Malaysia launches Sustainability Accelerator Program for Malaysian SMEs", "contents": "UOB MalaysiaUOB Malaysia said in a statement on Wednesday that the inaugural JT-SAP brings together over 150 SMEs and industry associations for a three-day workshop. Participants will acquire knowledge on international case studies, key trends, solutions and insights on sustainability to help them future-proof their businesses and improve their competitiveness. Cited the UOB Business Outlook Study 2023, UOB Malaysia said 84 percent of businesses in Malaysia consider sustainability to be important, but only 37 percent have started implementing sustainability practices within their organisations. It said the challenges to implementing environment, social and governance (ESG) practices in the survey include insufficient knowledge, upfront costs and lack of support.  \u201cAs SMEs form about 98 per cent of  businesses in the country, it is important for them to join the sustainability journey for Malaysia to achieve its net zero ambitions,\u201d UOB Malaysia Chief Executive Officer Ng Wei Wei said. According to her, the Jom Transform Sustainability Accelerator Program is designed to equip SMEs with the right knowledge and tools to facilitate their transition,\u201cBy adopting green practices, SMEs will be able to better manage their business risks and leverage sustainability opportunities to carve out a competitive edge for themselves,\u201d she added. It is noted that the JT-SAP leverages a comprehensive 3E (Evaluate, Engage, and Execute) Framework to enable businesses to accelerate their sustainability journey in a pragmatic manner. The program is delivered in collaboration with like-minded partners, including the Malaysian Green Technology and Climate Change Corporation (MGTC), Capital Markets Malaysia (CMM), PricewaterhouseCoopers Malaysia (PwC), Green Real Estate (GreenRE), and Thoughts In Gear (TIG). Together with the JT-SAP, UOB Malaysia also rolled out the UOB Sustainability Compass to help local SMEs overcome their inertia and kick-start their sustainability journey. First launched in Singapore last year, the UOB Sustainability Compass takes \u201csimplifying sustainable financing\u201d a step further by providing businesses with customised reports based on their sectors and sustainability readiness. Developed with PwC, the UOB Sustainability Compass report guides SMEs through a roadmap that identifies the different phases of becoming sustainable. They are educated on the regulations, standards, and certifications that affect their sectors and are recommended sustainable financing solutions to kick-start their sustainability initiatives. According to the statement, during the JT-SAP workshop, participating SMEs have the opportunity to evaluate their sustainability maturity stages and receive personalized UOB Sustainability Compass reports which outline actionable steps and data points to further develop concrete ESG plans. \u201cESG compliance has become increasingly enforced by consumers, regulators and global companies throughout their supply chains. While many SMEs understand the importance of pivoting their practices to reduce their carbon emissions, they require more assistance to kick-start their green journey, \u201cWith the UOB Sustainability Compass, the bank hopes to value-add by hand-holding these businesses to overcome their initial barriers,\u201d said Beh Wee Khee, Managing Director and Country Head of Commercial Banking, UOB Malaysia. UOB Malaysia is a subsidiary of Singapore-based UOB, a bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe, and North America. With over seven decades of presence in Malaysia, UOB Malaysia operates 55 branches in the country, offering both conventional and Islamic banking services to its customers. Sunview partners UOB Malaysia to help Malaysian businesses and consumers adopt renewable energy"}, {"url": "https://technode.global/2023/10/18/malaysias-redtone-partners-uks-informed-solutions-to-supercharge-digitalization-agenda/", "page": 13, "title": "REDtone partners UK\u2019s Informed Solutions to supercharge Malaysia\u2019s digitalization agenda", "contents": "Malaysian digital service provider Offered for the first time in Asia, these offerings, which are powering the United Kingdom and Australian governments\u2019 digital transformations, aim to achieve a two-pronged objective: boost the Malaysian government\u2019s agenda to build an enabling eco-system to increase the nation\u2019s competitiveness, and empower the locals,\u201d REBtone said in a statement on Tuesday. \u201cOur partnership is timely in light of the government\u2019s focus to build a more robust and integrated public sector ecosystem, roll-out of 5G infrastructure, as well as the push to advance inclusiveness,\u201d REDtone\u2019s Chief Executive Officer Lau Bik Soon said. He also said the AI powered digital solutions can supercharge the country\u2019s transition towards an integrated public sector ecosystem. \u201cThis will foster a greater level of collaboration and synergy, which will enhance transparency, optimize resources and effectiveness, \u201cIn turn, these will strengthen Malaysia\u2019s proposition as a key investment destination, while delivering citizen-centric services across the entire public sector,\u201d he said. In addition, with the AI derived data and insights, he said government agencies will be able to develop new as well as innovative services and products. \u201cWe can also accelerate the agencies\u2019 digital transformation by empowering public servants to level up their technical expertise in the areas of data, AI, and cybersecurity,\u201d he added. MyDIGITAL Corporation\u2019s Chief Executive Officer Fabian Bigar said that the successful digital development of the Malaysian economy will rely on local innovators and service providers collaborating with organizations that are able to share world class innovation and digital service implementation expertise, whilst up skilling local workforces so that Malaysia\u2019s digital development is sustainable. \u201cThis partnership is a great example of mutual benefit to both organizations and the communities they serve,\u201d he said. Informed Solutions\u2019 Chief Executive Officer Seth Finegan said the partnership allows the firm to offer world class digital services to local communities, opening-up opportunities for sustainable growth and development. \u201cWe are proud to be amongst the strategic digital suppliers to the United Kingdom government, \u201cOur current programs are responsible for accelerating and de-risking many of the most significant, national-scale digital transformations and data science, worth over \u00a320 billion ($24 billion) to the United Kingdom economy that the government is running to transform the healthcare, policing and emergency services, environment and land management, transport, energy transition, and citizen engagement sector,\u201d he said. Formed in 1992, Informed Solutions is an international provider of digital transformation, technology, data analytics and systems integration services and platforms that support large-scale digital transformation. The firm\u2019s clients are globally recognized public and private sector brands operating in a variety of sectors including government, civil defence, healthcare, sustainable environment, land asset management, citizen engagement and transport. Listed on Bursa Malaysia, REDtone is a subsidiary of Berjaya Corporation Berhad. The firm is an integrated telecommunications and digital infrastructure services provider. Founded in 1996, REDtone has evolved from a voice provider to one that offers an extensive range of services under three main categories: telecommunications services; managed telecommunications network services and industry digital services. BMI sees Petronas\u2019 private 5G deployment adds momentum to Malaysian digital transformation"}, {"url": "https://technode.global/2023/10/18/chinas-longi-invests-380m-to-set-up-solar-pv-manufacturing-base-in-malaysia/", "page": 13, "title": "China\u2019s LONGi invests $380M to set up solar PV manufacturing base in Malaysia", "contents": "Chinese photovoltaics company LONGi said in a statement on Tuesday that the firm has officially launched the first phase of its Serendah Module Plant in Malaysia. Located in Serendah, Selangor state on Malaysia\u2019s west coast, this facility is an integral part of LONGi \u2018s manufacturing strategy in the country. According to the statement, the commencement of operations at the LONGi Serendah Module Plant symbolizes the completion of a holistic photovoltaic industry chain in Malaysia. This marks a pivotal moment in LONGi\u2019s global endeavors. The 140-acre module factory represents LONGi \u2018s inaugural manufacturing presence in West Malaysia. The facility boasts cutting-edge technology and equipment from the contemporary photovoltaic sector. It\u2019s slated for a two-phase construction, with a combined capacity of 8.8GW (2.8GW in the first phase and 6GW in the second). With the first phase now operational, the second phase has already been initiated. Presently, the Serendah Module Plant has generated roughly 900 local employment opportunities, a number anticipated to exceed 2,000 in the coming timesBahria, a representative of the Malaysian Ministry of International Trade and Industry, emphasized Malaysia\u2019s steadfast commitment to sustainable growth. \u201cWe envision Malaysia as a central hub for global trade and industry, fostering an environment that champions innovation, sustainable expansion, and technological prowess,\u201cToday\u2019s inauguration of the LONGi Serendah Module Plant is a testament to our collaborative strides with LONGi towards achieving sustainable development. With the global photovoltaic market poised for significant growth, Malaysia stands at the cusp of green revitalization \u2013 a fact that fills us with immense pride,\u201d she said. Since venturing overseas in 2015 and establishing a foothold in Malaysia in 2016, LONGi has sequentially launched operations in silicon rod, wafer, cell, and module manufacturing in Kuching and Bintulu, Sarawak. Their first international base, located in Kuching, is also the world\u2019s premiere vertically integrated monocrystalline silicon solar manufacturing unit. To date, LONGi \u2018s investments in Malaysia have reached a commendable MYR 5.4 billion ringgit ($1.14 billion). Emphasizing localized growth, LONGi \u2018s workforce in Malaysia has burgeoned from an initial 570 to over 8,000 in 2023. \u201cAfter marking our presence in East Malaysia, we\u2019re now setting our sights on West Malaysia, with the new facility in Serendah, Selangor, \u201cBeyond bolstering the local economy, this venture will also significantly aid Malaysia in its pursuit of sustainable development goals and in its ambition to lead decarbonization efforts in the Asia-Pacific,\u201d said Li Wenxue, Vice President of LONGi. Recognizing Malaysia\u2019s robust international logistics, talented workforce, and a government that\u2019s resolutely pro-sustainability, he said the firm has also resolved to set up LONGi\u2019s Asia-Pacific headquarters in Kuala Lumpur. \u201cThis will synergize with our Malaysian production base, further augmenting LONGi \u2018s brand resonance in the region,\u201d he added. Founded in 2000, LONGi is a solar technology company focusing on scenario energy transformation. The firm has established five business sectors, covering mono silicon wafers cells and modules, commercial and industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. As a forerunner in the global green energy realm, LONGi said it is unwavering in its commitment to technological innovation. The company aspires to spearhead the solar photovoltaic industry\u2019s evolution, fostering a green global energy shift and aligning with the United Nations\u2019 Sustainable Development Goals for 2030. Abu Dhabi\u2019s Masdar to invest $8B in renewable energy projects in Malaysia"}, {"url": "https://technode.global/2023/10/16/malaysias-ni-hsin-inks-deal-to-promote-electric-mobility/", "page": 13, "title": "Malaysia\u2019s Ni Hsin inks deal with USM, FOCUS and TAILG to promote electric mobility", "contents": "Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH)Ni Hsin said in a statement on Monday that NH EV TECH has signed a collaboration cum donation agreement (CDA) with the trio with the aim to assist Malaysia to promote electric mobility, particularly 2&3 wheelers and demonstrate the viability of existing electric 2-wheelers to perform significant useful work in the Malaysian transportation environment. Under the CDA, the parties have agreed to establish collaboration and explore opportunities to develop, support and enrich the research activities, educational programs and training in their respective fields of expertise, thus creating synergistic benefits to all parties. TAILG will donate fifty units of EBIXON BOLD electric motorcycles assembled by NH EV TECH for USM to track and collect related data with the support from FOCUS who will provide the hardware, installation, and commissioning on the vehicles for the tracking and data collection. The vehicles will be assigned to selected end-users with different vehicular needs in order to quantify the vehicles performance and applicability to different situations. The performance measurements of the vehicles shall include top speed, range, battery capacity, etc. NH EV TECH\u2019s role shall be to ensure the fifty units of EBIXON BOLD electric motorcycles are legally licensed and fit to be used on the road and to coordinate the distribution of the vehicles to the selected end-users for the study. The vehicles will be provided free of charge to various end users for a period of one year during which USM will conduct vehicle testing, tracking, data logging, operator questionnaires and interviews, and end of project vehicle inspection. At the end of the study the end user may be qualified to receive the electric motorcycle permanently.  \u201cWe are delighted to participate in this Study which will provide insight on the various aspects of utilization of the electric two-wheeler in Malaysia so that we are able to make improvements to its design and features to meet the expectations of the consumers, \u201cThis will enhance its appeal to the public and encourage faster EV adoption,\u201d said Khoo Chee Kong, Managing Director of NH EV TECH. According to him, this strategic collaboration enables the parties to contribute to public education and awareness of the viability of using electric two-wheelers to aid the Malaysian government\u2019s commitment to low carbon initiatives, as outlined in the National Low Carbon Cities 2030 plan. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of electric vehicles (EV) and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Ni Hsin EV Tech plans for IEO fundraising through utility tokens issuance for EV business"}, {"url": "https://technode.global/2023/10/14/budget-2024-malaysia-federal-govt-plans-to-adopt-evs-as-official-vehicles/", "page": 13, "title": "Budget 2024: Malaysia federal govt plans to adopt EVs as official vehicles", "contents": "Malaysia said on Friday its federal government plans to adopt electric vehicles (EV) as official vehicles as  national utility firm Tenaga Nasional Bhd (TNB), Gentari and Tesla invest over MYR170 million ($35.96 million) to establish EV charging stations. This is one of the several EV-centric initiatives announced in the Budget 2024. Government will also extend up to MYR2,500 ($528.73) income tax relief for EV charging facility expenses for a period of four years, and tax deduction for EV rental cost for two years, Prime Minister Anwar Ibrahim announced on Friday. In his budget speech to parliament, he said the country\u2019s public transport operator Prasarana Malaysia Bhd will acquire 150 electric buses and build three bus depots at a cost of MYR600 million ($126.9 million).  Besides, Anwar said the government will provide up to MYR2,400 ($507.59) rebate for the purchase of electric bikes to buyers with annual income below MYR120,000 ($25,379) under its Electric Motorcycle Use Promotion Scheme. These announcements also comes amid the Malaysian government continues its effort to develop the country\u2019s EV sector  to become an EV powerhouse in the region or a hub in the global production and supply chain of EVs. On a separate matter, the government will also strengthen the venture capital environment through the centralization of venture capital agencies such as Penjana Kapital and Malaysia Venture Capital Management Bhd (MAVCAP) under the sovereign wealth fund Khazanah Nasional Berhad. Malaysia also said it would introduce a capital gains tax and a tax on high-value goods and gradually cut subsidies. Malaysia\u2019s economy is expected to sustain economic growth of 4 percent to 5 percent in 2024 while the GDP growth for the year 2023 is projected at approximately 4 percent. Several other tech and investment-related announcements include: \u200b\u200b- Putrajaya to serve as Malaysia\u2019s low carbon city model, with govt buildings set to have solar panels installed in partnership with TNB and Gentari. \u2013 To stimulate companies to invest in high-growth and high-value areas (HGHV), govt plans to provide a tiered reinvestment tax incentive in the form of an investment tax allowance of 70 percent to 100 percent\u2013 Government-linked companies and government-linked investment companies (GLICs) will provide funds of up to MYR1.5 billion to encourage startups including Bumiputera SME entrepreneurs to venture into high growth and high value (HGHV) fields such as the digital economy, space technology and electronics and electrical\u2013 Government to allocate MYR28 million to develop the MYStartup platform as a single window for start-ups. This initiative will optimize MYR200 million fund under various funding agencies and venture capital under a single platform. \u2013 To build a wider ecosystem for the E&E cluster in the northern region, the government will open a high-tech industrial area in Kerian, North of Perak stateTo support capital funding for startups:\u2013 First: allocation of MYR100 million to Malaysia Co-investment Fund (MyCIF) for a period of three years to complete the cooperation with food security initiatives, environment, the community and the State Islamic Religious Council to create opportunities for developing waqf assets for health, education and agro-based enterprises. \u2013 Second: tax incentives for individual investors investing in startups through the equity crowdfunding platform (ECF) will also be extended to individual investors through limited liability partnership 40 nominee companies and extended until Dec 31, 2026. \u2013 Third: tax incentive for angel investors extended until Dec 31, 2026 to encourage capital in technology related startups. Malaysia\u2019s Science ministry proposes initiatives to enhance startup ecosystem, STEM education to be included in Budget 2024"}, {"url": "https://technode.global/2023/10/13/malaysias-sime-darby-motors-partners-gentari-to-drive-green-mobility-and-clean-energy-solutions/", "page": 13, "title": "Malaysia\u2019s Sime Darby Motors partners Gentari to drive green mobility and clean energy solutions", "contents": "Malaysian automotive player Gentari said in a statement on Thursday that its subsidiary Gentari Sdn Bhd has signed a Memorandum of Understanding (MoU) SDM for the partnership. The MoU will entail SDM and Gentari exploring opportunities to establish EV charging stations and related EV charging infrastructure at SDM\u2019s automotive facilities across Malaysia, as well as in SDM\u2019s other regional markets. To further enhance accessibility and convenience for customers, the MoU will also explore establishing EV charging facilities beyond SDM showrooms, such as at golf clubs, hotels, and healthcare centres, amongst other potential locations. In addition, to encourage EV adoption amongst Malaysians, the collaboration will also look at value-added services for SDM customers. These services may include EV charging subscription plans, personalized home charging packages, portable charging services, and flexible mobile charging solutions, amongst others. The MoU will also explore a potential partnership for EV fleet solutions, catering to the evolving needs of businesses and governments looking to transition to cleaner and more sustainable transportation alternatives. Other joint projects and initiatives aimed at enhancing EV adoption, improving infrastructure, or developing new EV-related products or services will also be considered. Alongside this, recognizing the pivotal role of renewable energy, the MoU will also explore solar energy projects, such as solar energy system installations and solar energy storage solutions. \u201cThis MoU underscores our commitment to shaping a sustainable future through low carbon mobility,\u201cWe look forward to working with Gentari to accelerate environmental friendly technologies and solutions for the automotive sector, particularly to support the EV eco-system which continues to grow in Malaysia,\u201d said Jeffrey Gan, Managing Director of Retail and Distribution of Sime Darby Motors Southeast Asia, Hong Kong, and MacauGentari\u2019s Deputy Chief Executive Officer and Gentari Green Mobility Chief Executive Officer Shah Yang Razalli said that the firm aims to lead the way in sustainable transportation and clean energy solutions, and this collaboration marks an important stride towards a larger initiative covering the Asia Pacific region. \u201cLeveraging SDM\u2019s established track record and extensive regional footprint and our expertise, we are set to pave the way for a broader alliance that will unite various original equipment manufacturers (OEMs) within the SDM portfolio,\u201cTogether, we are strongly positioned to lead the charge in low-carbon mobility and the transition to sustainable energy, in creating a better future for the coming generations,\u201d he added. Malaysia\u2019s Gentari rebrands WIRSOL Energy to officially commence operations in Australia"}, {"url": "https://technode.global/2023/10/13/tiktoks-compliance-with-malaysian-laws-is-still-unsatisfactory-says-communications-minister/", "page": 13, "title": "TikTok\u2019s compliance with Malaysian laws is still \u201cunsatisfactory\u201d, says Communications Minister", "contents": "Social media platform TikTok\u2019s compliance with Malaysia\u2019s laws was still \u201cunsatisfactory\u201d and needed to be rectified promptly, the communications minister said on Thursday. In a Facebook post after meeting TikTok representatvies, Minister Fahmi Fadzil also said TikTok has not done enough to curb defamatory or misleading content in Malaysia. He added that TikTok also had to address issues related to content distribution and advertising purchases following complaints. Fahmi also said TikTok had assured him it would cooperate with the government and that its shortcomings were due to not having a representative in Malaysia at present. \u201cDuring the discussion, I emphasized that TikTok needs to operate according to Malaysian guidelines and laws. TikTok must also be more proactive in curbing the spread of fake news and defamatory material spread on the platform, including the spread of \u2018Coordinated Inauthentic Behaviour\u2019 (CIB),\u201d he wrote. A discussion involving the Ministry of Communications and Digital (KKD), Malaysian Communications and Multimedia Commission (MCMC) and TikTok will be held next week, he said. This was being scheduled following his meeting with the social platform\u2019s top management, led by TikTok global vice president Helena Lersch, national news agency \u201c\u2026 we also touched on Tiktok Shop and I have requested additional information from TikTok Shop which will be examined by KKD in these coming weeks,\u201d he told reporters on Thursday. Fahmi said the situation in Malaysia is different from Indonesia, which has banned e-commerce transactions on TikTok, adding that the government must consider several factors before making any further decisions, according to the report. \u201cI have requested some information from TikTok Shop to fully understand the situation including matters mentioned by President Jokowi such as predatory pricing, data sharing and data sovereignty. We have conveyed it to TikTok Shop and they will provide feedback. We will examine this feedback and will act afterwards, if necessary,\u201d he was quoted as saying. Owned by Chinese firm ByteDance, TikTok has recently come under scrutiny in Southeast Asia. Last week, Indonesia\u2019s government has halted transactions on its platform following a ban on e-commerce trade on social media. It was reported that Vietnam probes the app for \u201ctoxic\u201d content. Indonesia bans e-commerce transactions on social media platforms such as TikTok \u2013 report"}, {"url": "https://technode.global/2023/10/12/bmi-sees-petronas-private-5g-deployment-adds-momentum-to-malaysian-digital-transformation/", "page": 13, "title": "BMI sees Petronas\u2019 private 5G deployment adds momentum to Malaysian digital transformation", "contents": "BMI Industry Research said Thursday that Malaysian energy group The Fitch Group research unit said in a note that in BMI\u2019s view, private 5G networks will be critical enablers of digital transformation for large enterprises in many different industries across Southeast Asia over the next five years. \u201cIn Malaysia, for the most part, these will pivot around collaborations between enterprises and licensed mobile network operators as spectrum is currently tied to the individual operators (3G/4G) and the state-owned 5G platform Digital Nasional Berhad (DNB),\u201d it said. In this regard, the research house believes that if more enterprises were to deploy private 5G networks, this would make the planned second state-owned 5G platform more commercially viable than it would otherwise be and provide the government with a direct pipeline to all industries looking to leverage 5G for their technological transformations. In this respect, it believes that the first steps being made by a large and economically important company like Petronas is crucial in encouraging other enterprises \u2013 public and private \u2013 in following suit. \u201cWe do, however, highlight that that 5G is only one of many wireless connectivity technologies available to enterprises and alternatives such as WiFi6 or WiFi7, as well as low-power wide area network (LP-WAN) solutions that can also be used to facilitate many of the applications and solutions that Petronas (and others) will want to implement over the next decade,\u201d it said. According to the research house, these can be used in tandem with 5G or as standalone platforms in different parts of the business. BMI also noted that private 5G will support the advancement of automation and control, increasing operational efficiencies through applications such as remote logistics and fleet management, enhanced safety and location-specific workflow processes for workers, the use of low-latency critical infrastructure through smart sensors etc. It believes enterprises in industries as diverse as agribusiness, infrastructure, healthcare provision, manufacturing, logistics, heavy industries and education will be looking to adopt wireless technologies to support their evolution over the coming years.  It also said a successful deployment by Petronas could well stimulate demand across these sectors, particularly if the government actively encourages and supports its use. It is noted that in early October, the Minister of Communications in Malaysia noted that a total of 5,873 base stations had been deployed within the DNB\u2019s nationwide 5G network, with 70.2 percent of population covered. At that time, a total of 2.49 million 5G subscriptions had been registered, claimed to be an adoption rate of 7.4 percent. \u201cWe expect this number to rise to 2.93 million by the end of 2023, growing to 34.08 million by the end of 2032 (59.4 percent of all mobile connections). This number is likely to be swelled considerably by the introduction of machine-based connections served by enterprise-grade 5G networks,\u201d BMI said. Last Friday, Petronas announced that it has successfully adopted 5G private network at its Regasification Terminal Sungai Udang (RGTSU) in Melaka, the first in Malaysia to adopt the 5G technology for enterprise use. It said the deployment of 5G private network by Petronas is expected to optimize its internal operations and induce industry-wide change. It is noted that the event exhibited the aspirations under the Ekonomi MADANI and the New Industrial Master Plan 2030 (NIMP 2030) framework, which sets technology as the catalyst for a thriving and prosperous nation. \u201cAs we embark on this transformative journey, it\u2019s crucial to acknowledge the integral role cutting-edge technologies play, 5G\u2019s fast connectivity, low latency, and capacity to handle massive data flows will empower our industries to innovate, compete and excel on a global scale,\u201d said Haji Fadillah, Deputy Minister of Malaysia. According to the statement, the Malaysian Communications and Multimedia Commission (MCMC) is working closely with mobile service providers to deploy 5G standalone networks that will foster more use case development across industries in Malaysia. It said Malaysia is also well on track in its target to achieve 80 percent 5G network coverage in populated areas by the end of 2023. Petronas said that the deployment of the Petronas 5G Private Network sets the stage further for collaborative developments between the government, private sector, and academia to fully unlock the potential of 5G technology. Additionally, through Ekonomi MADANI and the NIMP 2030, it said focus will be given to nurturing local talents in ensuring the workforce possesses adequate skills and expertise to drive forward the digital future. Petronas Senior Vice President of Project Delivery and Technology Bacho Pilong said that the deployment of the 5G private network at RGTSU Melaka, has improved operational efficiency and safety, supporting its business and sustainability targets. \u201cOur strategic adoption of 5G technology sets us ahead in the energy industry, \u201cBy combining 5G with Internet of Things (IoT), Artificial Intelligence (AI), and automation, we\u2019re putting Open Petranas as among the leaders in the global technological race, while ensuring we meet the demands of supplying safe, reliable, cost-optimized and emission abated energy solutions for Malaysia and our customers globally,\u201d he added. Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth"}, {"url": "https://technode.global/2023/10/11/drb-hicom-geely-set-framework-for-development-of-automotive-hi-tech-valley/", "page": 13, "title": "Malaysia\u2019s DRB-Hicom and China\u2019s Geely set framework for development of Automotive Hi-Tech Valley", "contents": "Malaysian conglomerate DRB-Hicom said in a statement that the MCA sets forth the underlying principles, governance framework and mutual commitment of the AHTV project in Tanjong Malim, State of Perak, including specific roles to be undertaken for development and promotional initiatives.   AHTV will be a next generation international vehicle hub in Tanjong Malim covering extensive automotive and mobility solutions across the value chain, from a full fledge high technology global research and development center, to world-class automotive original equipment manufacturers (OEMs) players, manufacturing cluster as well as supporting services and associated ecosystem including logistics, research university, training and learning institutions within a smart city. The signing of the MCA brings the collaboration between DRB-HICOM and Geely Holding to the next stage. It is a key milestone in the collaboration as it provides a formal engagement platform for Parties towards achieving the AHTV intended and agreed objectives. The agreement sets forth the underlying principles, governance framework and mutual commitment of the AHTV project, including specific roles to be undertaken by Parties for its development and promotional initiatives.  This latest development follows the signing of the heads of agreement (HOA) by DRB-Hicom and Geely Holding earlier this year at the Malaysia-China Business Forum in Beijing.  Geely Holding\u2019s strategically invested Zhejiang Geespace Technology Co. Ltd. (Geespace) has also signed HOA with Malaysian digital player Altel Communications Sdn. Bhd. (Altel) to focuses on the development and implementation of high technology systems and will expedite the deployment of innovative solutions within sectors like smart ports. According to the statement, AHTV will attract investments both locally and from overseas which will propel it to become an international automotive hub for new energy vehicle (NEV). Its focus will not only be on the production of automobiles of various makes, but also in the manufacturing of high-technology components and parts for NEVs. This will further expand the capability of local vendors towards specializing in high technology manufacturing. Other than promoting the cooperation of new energy vehicles, DRB-Hicom and Geely also plan to construct of the auto-components industrial park; promote the development of the new automotive industrial city; and any other initiatives relating to AHTV. DRB-Hicom is one of Malaysia\u2019s group of companies with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. In the automotive sector, DRB-Hicom is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. Malaysia\u2019s DRB-Hicom partners China\u2019s Geely to develop Automotive High-Tech Valley in Malaysia"}, {"url": "https://technode.global/2023/10/11/japans-ntt-launches-50m-data-center-in-malaysia/", "page": 13, "title": "Japan\u2019s NTT launches $50M data center in Malaysia", "contents": "NTT LtdIn a joint statement on Tuesday, NTT and Malaysian Investment Development Authority (MIDA) said that NTT through its subsidiary NTT Global Data Centers Corporation has announced the launch of its new data center in NTT Cyberjaya campus. They said the facility, aligns with Malaysia\u2019s digital growth vision, aiming for Malaysia to be an \u2018Asian Digital Tiger\u2019 by 2025. Cyberjaya 6  (CBJ6), the sixth data center on NTT\u2019s campus, has a critical IT load of 7MW, 4,890m2 of space, two 33kV substations with diverse power reception and advanced cooling wall technology to maintain a stable environment for high density racks up to 15kW. CBJ6 complements the Cyberjaya 5 (CBJ5) Data Center, built in 2021. The combined facility has 20,000m2 of space and a facility load of 22MW. \u201cNTT\u2019s continuous expansion in Malaysia is a strong testament to the company\u2019s confidence in Malaysia\u2019s capability as a data center hub in the regions,\u201d said Arham Abdul Rahman, Chief Executive Officer of the MIDA. \u201cAligned with the New Industrial Master Plan 2030 (NIMP 2030), MIDA will continue to attract strategic high-tech projects that will position Malaysia as a digitally connected nation, characterised by extensive and reliable digital infrastructure,\u201d he said. He also Asia\u2019s rapid growth, amid economic uncertainty in developed economies, has led multinational companies to increase digital investments to support their expanding businesses in the region. \u201cMalaysia has garnered a strong reputation in the global data center sector, particularly in the Southeast Asia region,\u201d he added. Cited the \u201cMalaysia \u2013 Data Center Market 2023-2027\u201d report published by Technavio, he said the country\u2019s projected data center market size is estimated to grow at a compound annual growth rate of 16.15 percent between 2022 and 2027 and is forecast to increase by 2.91 billion. Takeshi Kimura, Managing Director of NTT Global Data Centers Holding Asia, said that after enduring several years of the pandemic, companies worldwide are now swiftly moving to make up for lost time. \u201cParticularly in Southeast Asia, many hyperscalers are keenly interested in establishing a robust IT platform,\u201cThey recognise that by selecting NTT as their partner\u2014a company with longstanding responsibility for managing networks, submarine cables, and data centers in Asia, they can address many challenges and drive their business effectively,\u201d he said.  Ho Yee Chung, Managing Director of NTT Global Data Centers Malaysia, also said that over the past two decades, NTT Cyberjaya campus has evolved in sync with Malaysia\u2019s digital growth. \u201cNTT Global Data Centers Malaysia proudly maintains 24/7 high availability, thanks to our skilled team of 60 engineers and operators, \u201cWith CBJ6\u2019s launch, we believe we\u2019re the prime provider of data center services, offering modern facilities and expertise that the hyperscalers in Malaysia need,\u201d he added. Doug Adams, Chief Executive Officer and President of NTT Global Data Centers and Submarine Cable, said that NTT\u2019s expansion in Cyberjaya demonstrates the firm\u2019s consistent capacity expansion in existing and new data center markets. \u201cThe five Cyberjaya data centers have already empowered hyperscale enterprises, and with this new site, we reaffirm our commitment to delivering reliable infrastructure that can support the demands of our clients\u2019 digital transformation ambitions in Southeast Asia, \u201cWith their demand involving the acceleration of generative artificial intelligence (AI), our data center capacity (including planned) will soon reach 2,000 MW worldwide,\u201d he added. According to the statement, the soon-to-commence submarine cable MIST, constructed by NTT as one of the shareholders, is poised to revolutionise connectivity at the NTT Cyberjaya Data Center, elevating Malaysia\u2019s global network connectivity and contributing to sustainable socio-economic growth. Spanning an impressive 8,100 km, it will seamlessly connect Malaysia, India, Singapore, and Thailand, boasting a 12-fiber pair capacity capable of transmitting over 200 TBPS of data. Malaysia\u2019s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program"}, {"url": "https://technode.global/2023/10/11/abu-dhabis-masdar-to-invest-8b-for-renewable-energy-projects-in-malaysia/", "page": 14, "title": "Abu Dhabi\u2019s Masdar to invest $8B in renewable energy projects in Malaysia", "contents": "Abu Dhabi Future Energy Company PJSC \u2013 The duo said in a statement on Tuesday that they have signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to develop up to 10 gigawatts (GW) of renewable energy projects in a strategic partnership that will significantly contribute to Malaysia\u2019s sustainable energy transformation. According to the statement, the collaboration marks an important milestone in the pursuit of a sustainable and greener future for Malaysia. MIDA said it will facilitate Masdar to develop the renewable energy projects by 2035, to include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems. \u201cThis important agreement will see the UAE and Malaysia deepen our partnership in the development of renewable energy, directly supporting the nation\u2019s National Energy Transition Roadmap,\u201d said Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate. He said the projects further demonstrate Masdar\u2019s and the UAE\u2019s commitment to supporting countries across the world, decarbonising economies at home and abroad, for a just and inclusive energy transition. Malaysia\u2019s Ministry of Investment, Trade and Industry (MITI) Minister Zafrul Aziz said that it is imperative that the two countries further strengthen Malaysia-UAE bilateral ties and relationship across various industries to help them navigate global uncertainties and identify opportunities that are of mutual benefit to both nations. \u201cThe UAE \u2013 particularly through Masdar \u2013 has set a commendable example in its national pursuit of sustainability, with its recognised leadership in clean energy, low-carbon and nature-based solutions, \u201cThis MIDA-Masdar collaboration is in perfect alignment with the objectives stipulated in our New Industrial Master Plan 2030 (NIMP 2030) and the National Energy Transition Roadmap (NETR) in achieving sustainability and energy security for Malaysia\u2019s industrial transformation,\u201d he said. Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said that as a global clean energy pioneer with a proven track record in the commercialisation and deployment of renewable and clean energy projects, the firm is proud to play its part in helping Malaysia achieve its ambitious target of 70 percent renewable energy installed capacity and net-zero emissions by 2050. \u201cWe will bring all our expertise in delivering robust projects, that utilise cutting-edge technologies and generate much needed energy efficiently, to advance Malaysia\u2019s renewable energy goals,\u201d he said. MIDA Chief Executive Officer Arham Abdul Rahman, said that the partnership with Masdar represents a pivotal stride in realizing Malaysia\u2019s sustainable energy aspirations. He said the partnerships underscore the agency\u2019s commitment to driving positive change and embracing the transition towards a greener, more sustainable future. \u201cMIDA has proactively and enthusiastically engaged with industry partners in the country to foster innovation and cultivate solutions that are aimed at reducing carbon emissions, \u201cOur efforts are not limited to the present; they extend into the future, as we recognise the growing importance of renewable energy sources,\u201d he said. Established in 2006, Masdar is a firm advancing the development and deployment of renewable energy and green hydrogen technologies. The firm is active in more than 40 countries with a total electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than $30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030. The firm is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA). Malaysia\u2019s TNB partners Laos\u2019s EDL to boost cross-border renewable energy trade"}, {"url": "https://technode.global/2023/10/11/malaysia-stock-exchange-tng-digital-affin-hwang-team-up-to-broaden-share-trading-services-in-malaysia/", "page": 14, "title": "Malaysian stock exchange, TNG Digital, Affin Hwang team up to broaden share trading services in Malaysia", "contents": "Malaysian bourse The trio said in a statement on Tuesday that they have signed a memorandum of collaboration (MoC) to enable investors to easily participate in the stock market through the TNGD digital platform. According to the statement, this initiative is part of the exchange\u2019s ongoing efforts to democratize equity investments and promote financial inclusion among Malaysians. Through this collaboration, retail investors will be able to access a wider array of investment products listed on Bursa Malaysia via the Touch \u2018n Go (TNG) eWallet\u2019s GOinvest feature. The feature will enable investors to seamlessly invest and monitor their GOinvest portfolios, all within a single app, with a user-friendly interface and robust security measures in place to ensure peace of mind. AHIBB, as the broker partner, will assist investors by offering greater market access, comprehensive research resources, real-time market data and responsive customer support, to enrich their trading experience. \u201cBursa Malaysia believes a marketplace that is inclusive is essential for a financially empowered society,\u201d said Muhamad Umar Swift, Chief Executive Officer of  Bursa Malaysia. \u201cTowards this, we will continue to innovate and introduce new ways for retail investors to confidently participate in, and benefit from numerous opportunities available within the Malaysian capital market, \u201cThis MoC is an excellent demonstration of how various industry players can collaborate and contribute towards this goal,\u201d he added. TNGD Chief Executive Officer Alan Ni also expressed his optimism about the significant impact that this collaboration will bring forth to eWallet users and all Malaysians. \u201cThis collaboration aligns with our vision of breaking financial barriers and making financial services, including investments, accessible to all, \u201cTogether, we can continue to empower Malaysians to make informed financial decisions, while enabling them to enjoy a hassle-free and secure share trading experience,\u201d he added. Meanwhile, AHIBB Chief Executive Officer Nurjesmi Bin Mohd Nashir said that the MOC marks the start of a beneficial and symbiotic partnership, formalizing their shared intention to democratize investment opportunities and financial inclusion among Malaysians. \u201cIt establishes the framework for the sharing of thoughts, information and experiences that will unquestionably result in advancement in the Malaysian stock market,\u201cThis important recognition demonstrates our persistent dedication to delivering seamless, comprehensive, and relevant digital experiences that go beyond banking, placing our clients and their ever-evolving needs at the heart of our proposition,\u201d he added. In addition to offering trading services, the TNG eWallet\u2019s GOinvest feature will host educational investment content. The content will be curated together with Bursa Malaysia and will cover topics such as fundamentals of investing and introduction to various investments available on Bursa Malaysia, including Exchange-Traded Funds (ETFs). This will be beneficial to equip retail investors, especially the younger demographic and those new to investing, with the knowledge needed to trade confidently in the stock market. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/10/10/worq-raises-pre-series-b-funding-at-an-up-round-on-the-back-of-profitability/", "page": 14, "title": "WORQ raises pre-series B funding at an up-round on the back of profitability", "contents": "WORQWORQ said in a statement on Tuesday that the global asset management firm, Phillip Capital, helms this round with its largest placement to-date and its third consecutive investment into WORQ. It said the achievement underscores WORQ\u2019s exceptional track record of profitability and its dominant market position. While this internal pre-Series B round primarily caters to its existing investors, it said preparations are underway for a Series B round with external investors in the near term. According to the statement, the funding raised will be fully utilized for space expansion. WORQ said it is currently on track to double its space under management by the end of 2023 and aims to triple that space to 450,000 square feet by 2025. Looking ahead, WORQ sees the opportunity to become the best space-as-a-service provider with the widest office network in Malaysia. The company aims to become the \u2018Amazon of office spaces\u2019 by providing scalability to office users, similar to that of Amazon Web Services in cloud computing. The firm also has plans to further expand its space under management to a sizable 3,000,000 sqft by 2030. To date, WORQ has incubated 300 startups and 100 tech companies with plans to enable over 10,000 workers by 2025. \u201cSoutheast Asia has become a prime location for many businesses looking to diversify and build their global supply chain\uff0c \u201cThe Malaysian market is strategically positioned to capture these opportunities as we are a diverse, multilingual country with an educated talent pool and a robust SME supply chain,\u201d said Stephanie Ping, Chief Executive Officer and Co-Founder of WORQ. As a growing economy, she said they must improve the ease of doing business in Malaysia by making hiring easier for companies. She noted that infrastructure issues can be a significant hurdle for businesses looking to invest in a new market and WORQ\u2019s innovative Space-As-A-Service model provides clients scalability and flexibility through its network of cloud offices. According to her, the firm has built a network of one-stop business centers that serve as vital infrastructure for foreign and local business formation in Malaysia. \u201cWe see this as a foundational part of the cycle of job creation, upskilling and knowledge transfer,\u201cThis vibrant business ecosystem will create high-income jobs to secure Malaysia\u2019s long-term sustainable development,\u201d she added.   In 2023, WORQ achieved strong revenue growth of 80 percent while maintaining mid-teen net profit margins. This success is attributed to WORQ\u2019s demand-centric strategy, which aims to achieve both outstanding risk management and hypergrowth simultaneously. WORQ noted that the demand for flexible office space continues to accelerate, with the firm achieving an average of two months to fill its new space expansions. In addition to its traditional coworking clientele, which includes tech startups and small and medium-sized enterprises (SMEs), WORQ is experiencing increasing demand from global firms expanding into the region. It said corporate clients are prioritizing agility and choose to use coworking spaces because they can swiftly deploy and go-to-market quickly while remaining asset-light. It is note that corporate clients now account for 70 percent of WORQ\u2019s demand compared to only 20 percent before the pandemic. Recognizing this trend, it said several landlords and Real estate investment trusts \uff08REITs\uff09 are partnering with WORQ to provide these solutions to their buildings, gaining a competitive edge in attracting additional tenants and subsequently boosting rental yields. \u201cAs an investor of WORQ, we have witnessed the rapid growth and the world-class services they provide. WORQ\u2019s adept cost management and efficient growth strategy positions them as a scalable and sustainable business model, capable of competing not just locally but also on a global scale, \u201cWe value founders who can anticipate industry trends, and WORQ\u2019s team has undeniably demonstrated their strategic foresight, a quality that gives me confidence in their future success,\u201d said Linus Lim, Chief Executive Officer of Phillip Capital Management. Rachel Leong, Director of Group Strategy and Operations at Mah Sing Group, who led this investment for the Leong family office said the firm is optimistic about the growth in demand for flex spaces and are thrilled to be part of WORQ\u2019s growth journey. \u201cWith a customer-first approach, prudent financial management, and disciplined execution, we have full confidence that WORQ will continue its growth story in the coming years,\u201d she said. Cradle acting group Chief Executive Officer Norman Vanhaecke said that Cradle is behind WORQ all the way, as they are vital to the ecosystem for the growth of startups. \u201cOnce companies receive funding, having a robust community of entrepreneurs to plug into is very important, \u201cTo stay competitive in the world stage, it is imperative that we encourage the good work that WORQ is doing as they have a lot of positive spillover effects for the good of the country,\u201d he added. Cited JLL Research, WORQ said the current market penetration for flexible offices in Kuala Lumpur is only around 1 percent, compared to the regional average of 3 percent. As JLL predicts that the demand for flexible office solutions will increase the penetration rate to 30 percent by 2030, WORQ said this signifies substantial growth room for the firm. Malaysia-based coworking space WORQ & UOA\u2019s newest partnership reaches 70% occupancy rate pre-launch"}, {"url": "https://technode.global/2023/10/10/nearly-seven-in-ten-smes-in-southeast-asia-rely-on-startup-capital-from-savings-family-and-friends-sme-industry-report/", "page": 14, "title": "Nearly 7 in 10 SMEs in Southeast Asia rely on startup capital from savings, family and friends: SME Industry Report", "contents": "In Southeast Asia, about 70 percent of small and medium enterprises (SMEs) started their business with seed money raised from their personal savings and from family and friends\u2019 financial support, said a report published by According to the SME Industry Report, the funding from traditional banks consists of 23 percent while the remaining 7 percent turned to alternative sources such as FinTech companies. SMEs in Malaysia had the weakest access to traditional bank financing (17 percent) and alternative lenders (3 percent), and were the most dependent on personal savings (66 percent) and support from family and friends (13 percent). Those in Vietnam had the strongest access to alternative lenders (25 percent), while only SMEs in Indonesia (3 percent) and Singapore (2 percent) secured funding from investors. The study also found that cash flow remains a key SME concern, with many spending most of their funds to support daily operations and buy inventory and supplies, and worrying about paying suppliers and receiving payment from customers on time. These concerns are further aggravated by seasonal cash flow fluctuations, when festive seasons increase consumer demand and raw material prices, and end-of-year objectives to complete ongoing projects and implement new ones call for an infusion of funds. According to the report, funding from traditional banking and financial institutions remains inaccessible to many, mainly due to difficult requirements and long processing times, and most SMEs have to start their business using their own savings and with help from family and friends. It is noted that their additional funding typically comes from business term loans and credit card payments. Those who borrow from alternative lenders, however, are not especially brand-loyal: almost half are not highly satisfied with their current providers and are, thus, actively seeking alternatives with a smoother brand experience and lower prices. These findings reveal a gap in the market for better financing options tailored to SMEs, ones that are more accessible than traditional financing sources and offer a low price, great brand experience, and fast approval. SMEs\u2019 choice of provider, however, may not boil down to primarily just cost: although most SMEs, with the exception of respondents from Indonesia, prefer low interest rates over a quick processing time, the urgent need for a healthier cash flow to support day-to-day operations and stock up on inventory means there\u2019s space for providers that offer fast approvals. Overall, SMEs continue to face the same cash flow-related challenges that SMEs before them have experienced. Thus, innovative digital financing solutions, developed with Southeast Asia\u2019s SMEs in mind, may be what the sector needs to solve these persistent old problems. Meanwhile, despite the current global economic downturn triggered by a chain of \u201csevere and mutually reinforcing shocks\u201d \u2013 the pandemic, the Ukraine war, high inflation, debt tightening, food and energy crises, and the climate emergency \u2013 most of theSMEs in Vietnam were the most pessimistic, while those from Thailand were the most optimistic. There was no significant difference among SMEs in Indonesia, Malaysia, and Singapore in terms of business confidence. \u201cIt\u2019s evident from the report that the majority of MSMEs in Malaysia still rely on personal savings and family support for startup capital,\u201cThis underscores the need for innovative financial solutions tailored to the specific needs of Malaysian MSMEs,\u201d said Chai Kien Poon, Country Head of Funding Societies Malaysia. He further added that the access to financing remains a critical concern for Malaysian MSMEs. \u201cThe report reinforces the importance of FinTech platforms like Funding Societies in bridging this gap and providing MSMEs with the necessary financial support to grow and thrive, \u201cAs we continue to navigate the economic recovery post-pandemic, this report serves as a roadmap for both policymakers and financial institutions to better serve the Malaysian MSME segment, ensuring they have the tools and resources they need to succeed in an ever-evolving business landscape,\u201d he said. Funding Societies surveyed nearly 1,000 SMEs in Malaysia, Singapore, Indonesia, Thailand and Vietnam. The report comprises respondents under the SME category, including micro (74 percent) and are business owners themselves (63 percent) \u2013 surveying both customers of Funding Societies (59 percent) as well as non-customers (41 percent). Funding Societies raises $27 million in debt funding from institutional investors"}, {"url": "https://technode.global/2023/10/10/gobi-partners-invests-in-malaysian-reseller-digital-ecosystem-ejen2u/", "page": 14, "title": "Gobi Partners invests in Malaysian reseller digital ecosystem Ejen2u", "contents": "Asia-focused venture capital firm Gobi Partners has become the lead investor in Malaysian reseller digital ecosystem Gobi Partners and Ejen2u said in a statement on Tuesday that this investment was made possible through the Khazanah Nasional Bhd (Khazanah)-backed Gobi Dana Impak Ventures (GDIV) fund. Looking ahead, Ejen2u\u2019s vision is to lead the way in agent solutions in the Malaysian market, empowering aspiring merchants of all backgrounds for success. Their plans include expanding their product catalogue to cater to various segments of the direct-to-consumer industry including drop shipping, online storefronts and setting up fulfillment services. Ejen2u, founded by Sheikh Ezaiddin, Imran Hadi, and Taufiq Zakir, brings over 50 years of combined entrepreneurship and reseller industry experience. As Malaysia\u2019s homegrown reseller digital ecosystem, the firm plays a pivotal role in aiding micro, small, and medium enterprises (MSMEs), including brand owners, stockists, agents, and drop shippers, in elevating their business endeavours. Ejen2u provides a comprehensive suite of services, including a cloud-based reseller management platform, a reseller education platform, a reseller-based venture builder, and several innovative fintech solutions. The platform stands as Malaysia\u2019s leading one-stop center for agent and reseller management through its three primary offerings:\u25cf EjenGO, a Software as a Service solution empowers Small and Medium Enterprises (SMEs) and brand owners amassing over 500 clients and achieving a remarkable gross merchandise value of $125 million. \u25cf EjenVenture caters to large enterprises and brands to help them build their own reseller distribution channel. \u25cf Women Empowerment Entrepreneurship Programme (WeMap), a program that aims to upskill women entrepreneurs, with over 100 topics. Launched in 2022, they have served 249 clients and have educated more than 15,000 participants on over 100 topics such as marketing strategy, video and photo editing, sales, business management andCurrently, Ejen2u\u2019s platform serves over 340,000 resellers across Malaysia, including 600 women leaders since its 2019 inception. Nearly 85 percent of Ejen2U\u2019s users are women looking to generate additional income while staying at home to care for their children. \u201cWhile our EjenGo platform serves as an initial attraction for our clients, our true differentiator lies in our holistic approach beyond technology, \u201cThis includes our comprehensive soft skills workshops and the impactful WeMap program for women who represent 85 percent of our users,\u201d Ejen2u Founder and Chief Executive Officer Sheikh Ezaiddin said. \u201cWe firmly believes that the core strength of any brand resides in its human capital,\u201cBy relieving our clients of burdensome bookkeeping tasks, we empower their agents and resellers to represent the brand more effectively, leading to enhanced sales and overall brand growth,\u201d he added. Ejen2u\u2019s strategic investors are also bullish on the firm\u2019s capabilities going forward and the impact it creates for domestic MSMEs. \u201cEjen2u is a promising portfolio company that we hold to be particularly valuable, especially in the increasingly digital future, \u201cBy helping domestic SMEs reach their fullest capabilities, we\u2019ll be able to see a wider effect ripple across our local economy, and become competitive on a regional, or even global level,\u201d Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said. Meanwhile, Artem Ventures Managing Partner Low Zhen Hui said that Ejen2u is an inclusive platform that empowers underserved entrepreneurs to participate in the burgeoning social commerce industry, leading to wealth generation and further national economic contribution. \u201cNevertheless, as this segment remains vulnerable to shocks, we are committed to bridging their access to increased financial security and welfare protection,\u201d he said. It is noted that GDIV is part of Khazanah\u2019s Future Malaysia Program (FMP), an initiative under the sovereign wealth fund\u2019s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. Dana Impak is a key pillar of Khazanah\u2019s Advancing Malaysia strategy that aims to deliver socioeconomic impact for Malaysia across six themes \u2013 Digital Society and Technology, Quality Health and Education for all, Decent Work and Social Mobility, Food and Energy Security, Building Climate Resilience, and Competing in Global Markets. With Ejen2u\u2019s efforts to educate and uplift local businesses within the digital economy, the company aims to support the inclusive growth of Malaysian MSMEs and the entrepreneursGobi Partners backs Malaysian agritech startup BoomGrow"}, {"url": "https://technode.global/2023/10/09/malaysia-launches-new-funds-to-drive-automation-digitalization-and-sustainable-esg-practices/", "page": 14, "title": "Malaysia launches new funds to drive automation, digitalization, and sustainable ESG practices", "contents": "The MIDA said in a statement that these initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI) and the Foreign Investment Accelerator Fund (FIAF), which are set to play a pivotal role in advancing Malaysia\u2019s economic landscape. According to the statement, the DIAF and SAG MADANI have been strategically designed to offer a variety of tailored solutions that assist in the development of high-value economic activities for local manufacturers and service providers. They also encourage the local businesses to upgrade their capabilities and expand their scope of operations, aligning with Malaysia\u2019s commitment to fostering innovation, automation, digitalization, and the adoption of sustainable environmental, social and governance (ESG) practices. MIDA also steadfastly centers its efforts on prioritizing targeted and selective investments that yield high quality and high impact from foreign sources. In line with this commitment, FIAF is tailored for multinational companies operating in Malaysia to facilitate the seamless transfer of cutting-edge know-how within the high-technology sector through research and development initiatives and comprehensive training activities. This strategic approach is poised to nurture a highly skilled and high-income local workforce while preserving Malaysia\u2019s competitiveness in an evolving global industrial landscape. \u201cThe realization of the New Industrial Master Plan 2030\u2019s vision to transform Malaysia\u2019s industry \u2013 characterized by innovation, technology and economic complexity \u2013 requires strong enablers, one of which is funding,\u201cTo that end, MIDA\u2019s newly launched funds are among the first concrete steps to support our industries in upgrading their capacity for higher value economic activities and facilitating knowledge transfer from foreign investors to domestic companies,\u201d said Zafrul Aziz, the Minister of Investment, Trade and Industry (MITI). \u201cBy nurturing local talent, fostering partnerships, and promoting technological advancement, we are not just catalyzing sustainable economic growth; we are also setting the stage for Malaysia to be at the forefront of the global industrial landscape by 2030 and beyond, as well as ensuring the prosperity of our companies and our people,\u201d he said. Meanwhile, MIDA Chief Executive Officer Arham Abdul Rahman said that DIAF, FIAF and SAG MADANI are more than just funds as they are powerful catalysts propelling the nation towards the vision of a sustainable and dynamic industrial ecosystem. \u201cOur shared mission is to cultivate a thriving economic landscape, and with these initiatives, we are nurturing a brighter future for Malaysia, \u201cWith the support of MIDA, these funds will empower businesses especially local small and medium-sized enterprises (SMEs) and mid-tier companies to innovate, expand, integrate in the technologically evolving global supply chain and actively contribute to our nation\u2019s economic progress,\u201d he said. MIDA is Malaysian government\u2019s principal investment promotion and development agency under the MITI to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur, the agency has 12 regional and 21 overseas offices. MIDA, CREST team up with Dassault Syst\u00e8mes to enhance cloud-based collaboration for SME"}, {"url": "https://technode.global/2023/10/09/this-malaysian-startup-aims-to-address-screen-time-crisis-among-kids/", "page": 14, "title": "This Malaysian startup aims to address \u2018screen time crisis\u2019 among kids", "contents": "With studies revealing alarming statistics around children\u2019s screen time, Malaysia-based startup In a statement last Monday (Oct 2), the platform said it maximizes the benefits of screens by allowing parents to set the order in which kids interact with apps. This balanced approach helps avoid dopamine feedback loops and allows kids to develop self-regulation. Carrots&Cake is a parental control learning app, focusing on the science behind how kids interact with tech in order to try and change their behavior and build healthy habits. The app lets parents design their kids\u2019 digital experience. Children will have to do learning apps first before they can access free screen time. Recent screen time studies point toward a growing crisis:Carrots&Cake, aims to change kids\u2019 online behavior and help them develop healthy screen habits. With Carrots&Cake, parents can select any educational apps from the App Store \u2013 what the startup refers to as Carrots. When kids turn on their iPhone or iPad these are the only apps they can access. When learning time finishes, the rest of the apps on the device unblock and kids can express their agency during free screen time \u2013 Cake. The approach \u2013 developed with parents, teachers, and doctors \u2013 benefits the developing prefrontal cortex of kids. It balances dopamine levels, introduces delayed gratification, and leads to the development of self control, resilience, and grit. At the same time, it counters the persuasive design of apps that keep kids hooked. Kids have fewer screen time tantrums, and parents can hand over devices guilt-free, according to the statement. Early users report their kids\u2019 time on learning apps tripled, while overall screen time was cut in half. As a result, the science-based app was selected from a review of thousands of applicants to pitch in front of investors and press at TechCrunch Disrupt 2023 in San Fransisco last month as part of Startup Battlefield 200, a startup competition. Meredith DePaolo, a Yale-educated mom of two, and Co-founder of Carrots&Cake said, \u201cEven when parents are at the office, they know that as soon as the kids jump off the school bus, run home for a snack, and throw open their iPads, the first thing they\u2019ll do \u2014 without any nagging or prodding \u2014 is their homework app set up on Carrots&Cake. And that learning happens distraction free. No advertisements, no push notifications, no emails or texts. Kids are no longer digital zombies. Screen time becomes focused and intentional. \u201d\u201cNo matter how good DuoLingo is, it can\u2019t compete against Roblox. We have a solution. Let parents design their kids\u2019 digital experience. Children do learning apps first before they can access free screen time. We do this naturally when we tell kids to do their homework before they play. By placing apps with a high cognitive load before high dopamine activities like games/streaming/social we create a balanced digital experience that allows kids to self regulate,\u201d she told Co-founder Hamel Shah shared, \u201cWhile other screen time controls simply set a time limit on how long kids use their devices, Carrots&Cake takes a kid-friendly approach to screen time that accounts for children\u2019s developing brains and lack of self-regulation skills. We combine learning and fun to make devices more beneficial and less addictive. \u201dExisting parental controls fall short. They cause stress in the parent-child relationship because they are one-sided, monitor kids\u2019 private behavior, and use GPS to track kids. Screen use is controlled with blanket time limits that fail to account for different types of online activities. Often these controls get bypassed by tech-savvy kids. Shah added, \u201cMalaysia has been my home for more than fifteen years, in large part because of its entrepreneurial spirit. The mix of cultures, religions, and ethnicities that are Malaysia\u2019s backbone inspires innovation and creativity. Other countries can\u2019t compete. A strong pool of talent \u2014 and a steady diet of roti canai \u2014 feed Malaysia\u2019s thriving startup ecosystem. These are the sentiments the team and I carried with us to San Francisco. \u201dCarrots & Cake said it is committed to transforming the digital parenting landscape, ensuring children\u2019s screen time is safe, balanced, and healthy. It\u2019s not about limiting screen time but about elevating screen time and empowering families, the company added."}, {"url": "https://technode.global/2023/10/09/mranti-appoints-rais-hussin-mohamed-ariff-as-new-chief-executive-officer/", "page": 14, "title": "MRANTI appoints Rais Hussin Mohamed Ariff as new Chief Executive Officer", "contents": "The MRANTI said in a statement on Sunday that Rais will take over from the current Acting Chief Executive Officer and Chief Commercial Officer Khairil Anuar Sadat, effective 9 October 2023. It said Rais brings with him over 28 years of experience and aIn his new role as Chief Exectitve Officer, Rais will be responsible for driving the strategic vision of MRANTI and overseeing its day-to-day operations. He has extensive experience in the fields of telecommunications, technology and entrepreneurship. \u201cWe are delighted to welcome Dr. Rais as the Chief Executive Officer, \u201cHis extensive experience and deep understanding of the value of technology and innovation will be instrumental in steering MRANTI toward continued success,\u201d said Prof. Dr. Rofina Yasmin Othman, Chairman of MRANTI. Meanwhile, Rais said that MRANTI is a nucleus agency for research and development (R&D) and commercialisation and innovation (C&I) in Malaysia that accelerates ideas to impact. He said he is committed to contributing significantly to the growth and success of the organization as a technology and innovation accelerator, and strengthening the innovation ecosystem in Malaysia. \u201cBeing agile, is not about mere proactive or reactive change. It is about the \u2018change of change\u2019, it is about the \u2018change of change in an accelerated pace\u2019. Nothing is linear anymore,\u201d he added. MRANTI is Malaysia\u2019s commercialization agency with the resources to accelerate the commercialization of innovative ideas that will drive impact. As a connector, collaborator and catalyst, MRANTI will connect problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. MRANTI launches Malaysia innovation matching platform to propel commercialization rate"}, {"url": "https://technode.global/2023/10/06/boost-partners-celcomdigi-to-launch-global-prepaid-card/", "page": 14, "title": "Boost partners CelcomDigi to launch global prepaid card in Malaysia", "contents": "Malaysia-based FinTech firm The Trio said in a statement Thursday that the prepaid card which is called the Beyond Card is the first two-in-one international card in Malaysia, enabling customers to access funds from Boost wallet balance and utilize a pre-approved credit line. They said the product is the first card in Malaysia with this unique feature and is accepted across Mastercard\u2019s over 100 million merchants worldwide. The Beyond Card by CelcomDigi and Boost offers Shariah-Compliant flexible payments via a credit facility in a responsible manner, using robust scoring techniques to ensure those offered credit line have the ability to repay. It also addresses financial inclusion gaps, targeting customers without cards or with basic ones by offering them a premium experience. Additionally, the card is also the first in Malaysia and Southeast Asia to offer Mastercard Travel Rewards, with qualified customers being able to enjoy attractive rewards. \u201cThis product launch is a successful blend of inclusive financial innovation, coupled with synergistic value unleashed by two flagship Malaysian companies in the Axiata Group, \u201cIt also further strengthens our partnership with Mastercard which is forged under a common objective of bringing new innovations to the financial landscape in Malaysia,\u201d said Sheyantha Abeykoon, Group Chief Executive Officer of Boost. Meanwhile, CelcomDigi Chief Innovation Officer T Kugan said that this partnership marks a pivotal step towards financial inclusivity together with telecommunications products and services, delivering convenience and rewarding experiences to Malaysian consumers who have progressively shifted to a digital-first approach for many daily lifestyles. \u201cWe remain committed to collaborate with industry leaders and drive digital innovation across Malaysia\u2019s digital ecosystem, further supporting the nation\u2019s digital agenda,\u201d he said. Mastercard Country Manager for Malaysia and Brunei Beena Pothen said that with the Beyond Card, Malaysians can look forward to an unparalleled travel experience that encompasses the best of culinary, shopping, entertainment and more. \u201cResearch from the Mastercard Economics Institute underscores the value people place on experiences over things, making the integration of the Mastercard Travel Rewards a natural fit with this trend, \u201cThe partnership with Boost and CelcomDigi is a significant milestone in the industry, reflecting the joint dedication to prioritizing consumers\u2019 passions, especially where travel is concerned,\u201d she added. Through the card\u2019s built-in Shariah-Compliant PayLater option, known as Boost PayFlexTM, users can stretch payments by up to three-month instalments. Users can also earn up to 3 times Boost Stars for each ringgit spent via Boost PayFlexTM, which are redeemable for savings and discounts through the BoostUP Loyalty Program. There are no fees applied for local and direct deductions on the Beyond Card. Each transaction has password protection, and emergencies can be handled with instant card freezing. Axiata Group\u2019s Fintech Arm, Boost Sets to Accelerate MSMEs\u2019 Financial Inclusion and Digitalization to help the underserved market in Indonesia"}, {"url": "https://technode.global/2023/10/06/bis-and-central-bank-partners-to-explore-protocols-for-embedding-policy-and-regulatory-compliance-in-cross-border-transactions/", "page": 14, "title": "BIS and central bank partners to explore protocols for embedding policy and regulatory compliance in cross-border transactions", "contents": "The In a joint statement, BIS and central bank partners said that disparate policy and regulatory frameworks between different jurisdictions are among the chief obstacles to smooth and efficient cross-border payments, and they contribute to the regulatory compliance burden across the payment chain, increase the time for cross-border transactions and introduce uncertainties among stakeholders. Project Mandala is a joint collaboration between BIS Innovation Hub (BISIH) Singapore Centre, Reserve Bank of Australia (RBA), Bank of Korea (BOK), Bank Negara Malaysia (BNM), and Monetary Authority of Singapore (MAS), with financial institutions. The project explores the feasibility of encoding policy and regulatory requirements into a common protocol. It also looks to automate compliance procedures, provide real-time transaction monitoring and increase transparency and visibility around country-specific policies. The project also aims to address key challenges identified during Project Dunbar, which developed an experimental multiple central bank digital currency (mCBDC) platform. According to the statement, the envisioned compliance-by-design architecture could enable a more efficient cross-border transfer of any digital assets including central bank digital currencies (CBDCs) and tokenized deposits. It could also serve as the foundational compliance layer for legacy and nascent wholesale or retail payment systems. The measures could include quantifiable and configurable foreign exchange rules, as well as anti-money laundering and countering the financing of terrorism (AML/CFT) measures. Project Mandala aligns with the Financial Stability Board 2023 priority actions for achieving the G20 targets for enhancing cross-border payments in the area of promoting an efficient legal, regulatory and supervisory environment for cross-border payments while maintaining their safety, security and integrity. \u201cBNM is committed to making cross-border payments more efficient. Project Mandala could pave the way for more seamless cross-border transactions in the future while ensuring that regulatory compliance and transaction security are maintained, \u201cWe welcome its potential, not only for Malaysia but also for the global community,\u201d BNM Assistant Governor Norhana Endut said. Meanwhile, RBA Assistant Governor (Financial System) Brad Jones, said that the project will help them to understand how embedding policy and regulatory measures in a common protocol could be used to improve the speed, cost and transparency of cross-border transactions. \u201cEnhancing cross-border payments is a priority for Australia and the wider international community, and the Bank is committed to doing what it can to contribute to this effort,\u201d he said. BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa develop experimental multi-CBDC platform for international settlements"}, {"url": "https://technode.global/2023/10/05/malaysian-central-bank-to-refine-several-aspects-of-dito-framework/", "page": 15, "title": "Malaysian Central Bank to finalize DITO Framework in first half of 2024", "contents": "Malaysian Central Bank said Thursday that it will be refining several aspects of the Digital Insurers and Takaful Operators (DITO) Framework, and plans to finalize the framework by the first half of 2024. Bank Negara Malaysia (BNM) said in a statement that it has provided an update on the outcome of the consultation paper on the exposure draft on licensing and regulatory framework for Digital Insurers and Takaful Operators (DITO Framework) published in November 2022. The exposure draft outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realize the policy outcomes of inclusion, competition, and efficiency. It also outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realize the policy outcomes of inclusion, competition, and efficiency. Feedback from more than 50 stakeholders were received during this consultation period, which ended on 28 April 2023. In the months that followed, BNM continued to engage various stakeholders extensively to consider the feedback received from the exposure draft, particularly in relation to alternative business and operational models, as well as on the approach to the foundational phase. The input and feedback received have been insightful in providing additional perspectives, including market trends, to shape the final version of the policy document. Having carefully considered the feedback and additional insights gained, BNM is taking the opportunity to refine several aspects of the DITO Framework. This includes enhancements to provide clarity for emerging and innovative business models such as embedded insurance and insurance-as-a-service. This aims to encourage wider participation from players in the insurance and takaful value chain that can deliver the intended policy outcomes of the DITO Framework. Malaysian Central Bank: micro and small businesses will continue to enjoy zero-cost transactions DuitNow QR payments"}, {"url": "https://technode.global/2023/10/04/alibaba-cloud-partners-sains-to-offer-private-cloud-program-in-malaysia/", "page": 15, "title": "Alibaba Cloud partners SAINS to offer private cloud program in Malaysia", "contents": "Alibaba CloudThe announcement was marked with the signing of a memorandum of agreement, as SAINS launched its Private Cloud, a high-tech, innovative and highly secure cloud solution powered by Alibaba Cloud. Alibaba Cloud said in a statement that this is the first Alibaba Cloud private cloud program in Malaysia reflecting a significant step forward in accelerating digital transformation in the region and in bringing advanced cloud computing and innovative technologies to public services, businesses, organizations and education institutions in East Malaysia. It said core to this initiative is the firm\u2019s deployment of its Apsara Stack solution that provides customers with flexible implementation for different kinds of businesses. It said the implementation of the new infrastructure solution will also provide reliable hosting services to SAINS\u2019 customers, reducing and minimizing Recovery Time Objectives; which refers to the maximum tolerable length of time that a computer, system, network or application can be down after a failure or disaster occurs. According to the statement, SAINS has developed many applications for its customers over the years since its founding. Advancements in mobile technology and cloud technology have also raised the expectations of SAINS\u2019 customers in terms of application reliability and disaster recovery. SAINS has also decided to implement fast auto recovery of customers\u2019 applications.  The new infrastructure built by Alibaba Cloud is designed for hyperscaling and financial-grade disaster recovery capabilities which supports SAINS\u2019 future expansion and roadmap with high security standards. With the deployment of two Availability Zones disaster recovery Apsara Stack in Sarawak; SAINS and its key customer the Sarawak government can enjoy the benefit of applications running active across two zones simultaneously. \u201cThe recent trend we have noticed is that our customer has high expectations of us in terms of application service reliability and service restoration times, \u201cThus, we have decided to implement private cloud-based platforms with automatic disaster recovery capabilities from our partners such as Alibaba Cloud to ensure we can quickly deliver peace of mind and security while also meeting the data sovereignty policy of our key customers,\u201d said Busiai Seman, chief executive officer of SAINS. The collaboration is facilitated by VSTECS Pericomp, the distributor for Alibaba Cloud in Malaysia and a subsidiary of VSTECS Berhad, one of the leading ICT distributors in the country and a technology enabler for the past four decades. The VSTECS group has played an integral role in supporting ICT infrastructure and supporting digital transformation in the State of Sarawak and across Malaysia. With the integration of the solution known for its stability, security, openness and smart cloud features tailored for enterprises; it further allows Sarawak to position herself as a forefront digital economy hub in Malaysia. \u201cThe Apsara Stack solution combines leading technical capabilities in the Asia-Pacific region with comprehensive operational capabilities, \u201cThis will enable Sarawak to take the digital leap further and faster; to be at the forefront in cloud technology adoption. We are also confident that our collaboration with SAINS will drive innovation, efficiency and growth in the region,\u201d said Kun Huang, General Manager of Malaysia, Alibaba Cloud Intelligence. The freshly inked partnership is yet another demonstration of Alibaba Cloud\u2019s long-term commitment to empowering Malaysia as a high value-added economy. It is part of a continued investment of time, expertise and resources in accelerating her digital transformation journey with advanced technologies and streamlined solutions. As one of the world\u2019s leading cloud service providers, Alibaba Cloud boasts a network of 89 availability zones in 30 regions across the globe, offering a highly secure, scalable, robust cloud infrastructure to support global customers embracing digital innovation with keeping sustainability in mind. Alibaba Cloud is also the first global cloud provider with twin local data centres established in Malaysia since 2017 and has launched its first cloud-based Anti-DDos Scrubbing Center locally in 2018 serving the region. Established in 2009, the firm offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and internet of things (IoT) services. Alibaba Cloud sees increase in demand from various industries in Malaysia market, says VP [Q&A]"}, {"url": "https://technode.global/2023/10/04/battery-electric-vehicles-is-clear-winner-when-trying-to-reduce-emissions-says-rystadenergy/", "page": 15, "title": "Battery electric vehicles is clear winner when trying to reduce emissions, says Rystad Energy", "contents": "Battery electric vehicles (BEV) are the clear winner when trying to reduce emissions in the transportation sector, according to The research house said in a statement on Wednesday that despite incurring higher emissions in the manufacturing process of electric vehicles and an enduring reliance on fossil fuel power generation in many countries, the positive environmental impact of switching to a BEV over the vehicle\u2019s lifetime is unmistakable. Its analysis showed that battery-powered vehicles contribute at most half the carbon dioxide equivalent (CO2e) of diesel or gasoline cars across their lifecycle, regardless of the country of operation. Even in countries where the power grid is dominated by fossil fuels, it said battery-powered cars emit less CO2e than internal combustion engine (ICE) cars over their lifecycle. As renewable sources replace coal and gas-fired generation, emissions related to the operation of BEVs could drop by 86 percent, it said. Its in-depth research of lifecycle BEV and ICE vehicle emissions considers every stage of the manufacturing process and the vehicle\u2019s operation. This includes the manufacturing of the vehicle\u2019s body, known as body in white (BIW), powertrain assembly, maintenance, fuel and electricity-related emissions and battery production for BEVs. The research house is conscious that there are often societal and humanitarian impacts associated with EV manufacturing, battery production and associated mining. However, this research is purely focused on the emissions comparison between battery electric and traditional-fuel vehicles. Under its base case scenario for power generation in China in the next 20 years, it said the lifecycle emissions of a BEV are about 39 tonnes of CO2e versus almost 85 tonnes for an ICE vehicle. It said the difference in the United States is even starker, with a BEV emits 42 tonnes of CO2e across its life in the country, 58 percent lower than a gasoline or diesel vehicle that emits more than 100 tonnes. Of these totals, it said emissions related to the extraction, refining and burning of fossil fuels contribute about 90 percent of all ICE emissions. The breakdown of emissions across a battery-powered vehicle\u2019s life is directly tied to its electricity consumption and how that power is generated, it added. \u201cOverall, battery electric vehicles are clearly the right technology to reduce emissions in the transportation sector. Switching to a BEV will reduce long-term emissions despite a larger environmental impact at the beginning of the vehicle\u2019s life, \u201cContrary to some claims, electric car adoption is not a fool\u2019s errand; it will slash emissions in the long run and accelerate the energy transition,\u201d said Abhishek Murali, Senior Clean Tech Analyst Rystad Energy. It is noted that the research house selected five countries for its analysis \u2013 China, the United States, India, Germany and France \u2013 due to their diverse transportation factors like driving patterns, type of vehicle dominant in each country and varying power mixes, both historical and forecast. Germany and France were chosen to reflect the European market in general and assess different power mixes, keeping other factors mostly similar. It used our base case power generation forecast for each country when evaluating lifecycle emissions to accurately reflect the evolving nature of electricity generation and its impact on BEV emissions. Each vehicle is expected to last 18 years, after which age most vehicles are scrapped. BMI sees Malaysia\u2019s electric vehicle sales to quadruple in 2023"}, {"url": "https://technode.global/2023/10/04/bmi-sees-malaysias-electric-vehicle-sales-to-quadruple-in-2023/", "page": 15, "title": "BMI sees Malaysia\u2019s electric vehicle sales to quadruple in 2023", "contents": "BMI Industry Research, a FitchSolutions firm, has projected that Malaysia\u2019s total electric vehicle (EV) sales to quadruple in 2023, although the country\u2019s EV penetration rate (EV sales as  percent of total vehicle sales) will stay at just 1.8 percent. The research unit said in a note on Tuesday that its autos team estimate demand for EVs in Malaysia to far outstrip that of internal combustion engine cars within the 2023-2032 forecast period. However, BMI noted the pace of growth in the electrification of transport industry will face challenges related to the lack of affordable EV models and slow expansion of charging infrastructure. It is noted that Malaysian government is promoting EVs by providing import duty exemptions for components for the local assembly of EVs, the excise duty and sales tax exemptions for locally assembled EVs, and the import and excise duty exemptions on imported completely built-up (CBU) units. While the government\u2019s recently announced National Energy Transition Roadmap (NETR) has recognized the importance of hydrogen as a potential clean energy source, BMI opined that the adoption of hydrogen in the transport sector will be a lengthy process and impact on conventional fuel consumption will be limited. As part of the country\u2019s objective to achieve net-zero emissions by 2050, the Malaysian government adopted the NETR to steer Malaysia\u2019s transition from traditional fossil fuels-based economy to a green economy. According to the note, decarbonization of the land transport industry remains critical to the government\u2019s energy transition initiatives since the sector is the largest source of emissions constituting 85 percent of total transport emissions. \u201cThe government\u2019s current policy focuses on electrification of transport fleet and expanding biofuels use and this is expected to become more prominent in the coming years in the form of fuel switching to accelerate energy transition in the transport sector,\u201d BMI said. BMI also foresees Malaysia\u2019s energy transitions initiatives to slow refined fuel demand growth. \u201cMalaysia\u2019s fuel consumption is projected to grow at a much slower pace than anticipated, \u201cMalaysia\u2019s consumption of refined fuels is forecast to see slow and steady expansion over the next 10 years, averaging at around 1.5 percent through 2023 to 2032,\u201d it said. This was despite its Country Risk teams forecast Malaysia\u2019s real gross domestic product (GDP) growth to register 4.2 percent in 2023 and improve further to 4.42 percent in 2024. \u201cThough an improving economy together with ongoing fuel subsidies are contributing to a recovery in fuel consumption, fuel demand faces downside pressures from high global oil prices and energy transition initiatives, \u201cThe near-term outlook for fuel consumption points to upside, but the pace of demand growth could slow down in the long term as the government plans to implement policies aiming to cut fuel subsidies and accelerate energy transition initiatives,\u201d it added. Malaysia\u2019s Hektar REIT partners GMA Resources for EV charging bays"}, {"url": "https://technode.global/2023/10/04/antitrust-approval-could-be-biggest-hurdle-for-grabs-potential-acquisition-of-foodpandas-business-analysts-say/", "page": 15, "title": "Antitrust approval could be biggest hurdle for Grab\u2019s potential acquisition of Foodpanda\u2019s business, analysts say", "contents": "Antitrust approval will be the largest hurdle for Southeast Asia-based super app Grab as the ride-hailing and food delivery firm flagged as a potential suitor for Foodpanda\u2019s business in selected markets, analysts said. \u201cWe think antitrust approval will be the biggest hurdle for Grab, while sale to deep-pocketed buyer could disrupt the current competitive landscape,\u201d CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan wrote in a note dated September 21. \u201cIn our view, while it does make sense for Grab to consider such an acquisition given its strong net cash position and potential to enhance its economies of scale, we see significant regulatory hurdles,\u201d the analysts wrote. Last month, Berlin-based Delivery Hero confirmed it is in preliminary talks for a partial sale of its Asia food delivery business. Grab flagged as a potential suitor. The deal\u2019s value is still under negotiation, according to media reports. The According to the report\u201cAssuming a merger, Grab will have a monopolistic market share ( more than 90 percent) in online food delivery in Singapore, Malaysia and the Philippines,\u201d the analysts added. \u201cThe talks are in the preliminary stage, and we do not know if this will lead to a definitive agreement,\u201d they wrote. Momentum Works, a venture outfit, estimated Foodpanda\u2019s Southeast Asia GMV at $3.1 billion in 2022. According to the same report, Foodpanda ranked second by market share in Singapore, Malaysia and the Philippines, and third in Thailand in 2022, the analysts noted. \u201cOur back-of-the-envelope calculations point to an implied valuation of 0.35 times trailing Enterprise Value (EV)/Gross Merchandise Value (GMV) or 5.3 times trailing EV/sales (assuming Foodpanda has the same net take rate as Grab), which we think appears reasonable. Grab trades at 6 times trailing EV/sales,\u201d the analysts wrote. On the other hand, the analysts noted that should the sale go to a deep-pocketed buyer seeking to expand presence in/enter Southeast Asia, they see potential disruption to the existing healthy competitive landscape in the region\u2019s on-demand industry as scale and order density are key to driving profitability in the low-margin food delivery business. Maybank Kim Eng Research: Grab\u2019s acquisition of Foodpanda potentially increase economies of scale, marginsIn a separate note on Sept 25, Maybank Kim Eng Research noted Foodpanda ranked number two by market share in Singapore, Malaysia and the Philippines and number three in Thailand in 2022, with an estimated GMW of $3.1 billion in Southeast Asia. \u201cBuying a competitor definitely makes sense for Grab given its strong net cash position (S$6.7 billion in cash and liquid investments). Assuming a merger, Grab would consolidate its market leadership with a monopolistic market\u201cThis would potentially increase its economies of scale and profit margins while reducing marketing expenses on customer acquisition for its delivery segment. However, Grab might face similar regulatory hurdles from CCC (Competition and Consumer Commission of Singapore) post sale of Uber\u2019s Southeast Asian business to Grab in Sep 2020,\u201d he added, concurring CGS-CIMB\u2019s analysts\u2019 views. Moreover, Maybank Kim Eng\u2019s Kelvin said should the sale go to a new entrant seeking to expand in/enter Southeast Asia, this could be a concern to the existing healthy competition in the region as scale and order density are key to driving profitability in the low-margin food delivery business. \u201cWe believe competition has become more rational, especially for food delivery, with peers cutting back on promotion intensity to boost profitability and Grab focusing on sustainable growth as it expands its market share leadership. After the pandemic eased in 2022, the food delivery market slowed down while Grab has outperformed its peers inFounded in 2012, Grab is a superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors. Serving over 500 cities in eight Southeast Asian countries, Grab enables users to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and insurance, all through a single app. Last month, Delivery Hero is a delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and runs its own delivery platform on four continents. Additionally, Delivery Hero is also in the quick commerce services, aiming to bring groceries and household goods to customers in under one hour and often in 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. Delivery Hero announced the acquisition of Foodpanda in December 2016. Foodpanda added 20 new countries in Eastern Europe, MENA and Asia to Delivery Hero\u2019s platform then. Foodpanda, headquartered in Berlin, is an online food ordering and delivery marketplace processing approximately 2 million monthly orders across 22 countries in Eastern Europe, MENA and Asia with market leading positions in 17 of them, Delivery Hero said in a statement Delivery Hero\u2019s foodpanda\u2019s business could be sold to Grab? \u2013 report"}, {"url": "https://technode.global/2023/10/03/malaysian-fintech-startup-madcash-secures-1m-in-funding-to-empower-women-entrepreneurs/", "page": 15, "title": "Malaysian Fintech startup MADCash secures $1M in funding to empower women entrepreneurs", "contents": "MADCash Sdn. Bhd. MADCash said in a statement on Tuesday that the funding was led by Artem Ventures with strong support from MSW Ventures and ScaleUp Founders Fund. According to the statement, these newly acquired funds will be used to enhance the Company\u2019s online platform using AI technology, cover operational and marketing expenses, and explore expansion opportunities within the Southeast Asia region. MADCash, which stands for Multiply, Assist, Donate Cash, funds and grows unbanked and underbanked women entrepreneurs, aiming to create an alternative credit scoring to increase their future bankability. \u201cWe are thrilled to have new partners onboard at this critical juncture when we have so much in the work pipeline including launching MADCash Academy soon,\u201cWith the support from Artem, MSW, and ScaleUp we can now make a bigger impact on society,\u201d said Nuraizah Shamsul Baharin, Managing Director of MADCash. The Kuala Lumpur-based Madcash is a fintech solutions provider that helps women achieve greater financial security by providing the capital, business, and financial acumen to grow their micro businesses. The company runs on a proprietary technological platform that allows donors to contribute and see whom their funds are helping at any time. By the end of this year, the firm is set to have extended its support to over 800 women. Among its partners are Hong Leong Islamic Bank, and PayNet. In line with this growth, MADCash welcomes Musyrifah Malek as a Co-Founder. With her extensive legal background, she will be pivotal in advancing the Company\u2019s corporate governance policy and practices, to help ensure MADCash\u2019s success within its industry. \u201cBy offering financial inclusion and capacity building to these groups of women entrepreneurs, MADCash is a platform that helps underserved entrepreneurs to build their credit scoring and sharpen their entrepreneurship skills, \u201cMADCash recognizes the importance of financial inclusion for closing the gap of poverty and gender inequality, which can lead to better economic growth in the SEA region,\u201d said Tunku Omar Asraf, Principal of Artem Ventures. Artem Ventures is a venture capital firm based in Malaysia. The firm currently manages TIM Ventures, a fund backed by FWD Group, that invests in early stage fintech and insurtech companies. The fund has invested in 12 companies with the goal of driving financial inclusion and social security for underserved communities through digital access to financial and insurance products. \u201cSupporting the unbanked and underbanked has been a digital economy problem looking for a sustainable solution, especially in the development economy of micro-financed entrepreneurship,\u201d MSW Ventures\u2019 Jeffrey Seah said. \u201cNuraizah has demonstrated a strong grasp of the complex and ever-changing agendas amongst the institutional and strategic stakeholders, forging a program-based business model that can serve to realize the potential of women entrepreneurs, providing them with a level of self-sufficiency beyond sustenance, \u201cThis is my second cheque in support of Nuraizah\u2019s MADCash, she epitomizes the characteristics of an Asia Fund X founder,\u201d he added. MSW Ventures supports Asia Fund X (AFX), a successor fund to Asia Fund II (AFII), is a firm searching for exceptional growth models and founders with the X factor within the transformative Digital Economy of Southeast Asia. \u201cWe\u2019re really proud of Nuraizah and her team and how far they have come. When she joined our accelerator program in 2022 MADCash had only supported 83 women with just $20,000 as microfunds, \u201cSince then, her team has really focused on raising more funds under management to $700,000 and improving their processes to deploy funds to more deserving women. MADCash demonstrates the quality of founders that we at ScaleUp aim to support all the way,\u201d said Renuka Sena, Senior Partner at ScaleUp Malaysia. ScaleUp Malaysia supercharges growth-stage startups, turning them into \u201cPegasus\u201d companies\u2014fast, profitable, and ready to soar. Founded by veteran entrepreneurs and investors, their program offers tailored coaching, in-class training, and crucial equity investments. Since 2020, they\u2019ve deployed capital into 36 game-changing startups like ATX, AOne, Fefifo, Kiddocare, ERTH and Homa. ScaleUp Malaysia announces investments in 11 emerging startups"}, {"url": "https://technode.global/2023/10/03/malaysia-launches-i-esg-framework-to-tap-into-12t-global-market-on-esg-focused-opportunities/", "page": 15, "title": "Malaysia launches i-ESG Framework to tap into $12T global market on ESG-focused opportunities", "contents": "The MITI said in a statement that the i-ESG Framework is a key enabler for the Push for Net Zero mission, one of the four missions of Malaysia\u2019s recently launched New Industrial Master Plan 2030\u2019s (NIMP 2030). According to the statement, the i-ESG\u2019s overarching objective is to accelerate transition towards sustainable practices among manufacturing companies. It consists of four pillars \u2013 standards, financing, capacity building and market mechanism \u2013 as well as 17 strategies, 50 deliverables and six key enablers, aimed at providing invaluable\u201cWhile the New Industrial Master Plan 2030 sets out the \u2018what\u2019 on ESG, this i-ESG Framework presents the \u2018how\u2019, serving as a roadmap for businesses to integrate ESG considerations into their operations, and a tool for regulators to ensure compliance and accountability, \u201cThe i-ESG Framework Phase 1.0 (2024\u20132026) prepares the groundwork and fosters the development of a robust ecosystem to help companies embark on their ESG journey,\u201d the Minister of Investment, Trade & Industry Zafrul Aziz said. More importantly, he said the framework canters around the principle of \u2018Just Transition\u2019 because the businesses, particularly the MSMEs, cannot be held immediately accountable to standards that companies in developed markets have had a head start on for at least a decade or longer. \u201cThis also reflects the MADANI Economy\u2019s commitment to inclusivity, ensuring that no one is left behind, particularly in the pursuit of ESG objectives,\u201d he added. According to the statement, the i-ESG Framework Phase 1.0 comes with an ESG Readiness Assessment (i-ESGReady) to assist companies in understanding and evaluating their current ESG adoption level, and the i-ESG Starter Kit (i-ESGStart), a clear and user-friendly, step-by-step guide with practical examples, as well as calculation methods and templates to facilitate their sustainability reporting. In Phase 1.0, MITI will also conduct clinic sessions to empower and guide a total of 50 companies on producing their first sustainability report. The first clinic will be held at end-October 2023 and interested companies may contact their respective business associations or chambers. With the i-ESGReady and i-ESGStart, companies that have no sustainability reports at all should be able to produce their report within a year. This will eventually ensure their readiness to meet the more rigorous demands of Phase 2.0 \u201cAccelerate ESG\u201d (2027 \u2013 2030). \u201cThe phased, progressive approach represents the \u2018Just Transition\u2019 that Malaysian companies and MSMEs need to fulfil the growing demand for sustainable products, and the requirements for ESG reporting in export markets,\u201cThrough the i-ESG Framework, we also have an opportunity to get our ESG target outcomes right via our manufacturing sector. For the sake of our children and Planet Earth, let us get this right the first time, as we may not have the luxury of considering Plan B, because there is no Planet B,\u201d continued Zafrul. According to the statement, MITI has also begun its \u201cKenalESG\u201d outreach program in Kuala Lumpur (200 companies), Penang (190 companies), and Johor (130 companies) to raise ESG awareness and introduce the i-ESG Framework to industries. The program will also be conducted in Sarawak, Kelantan, Terengganu, and Pahang by end-2023, while other states will be covered by the first quarter of 2024. Malaysian bourse inks MOU with Thai, Indonesian bourses to set up Asean ESG ecosystem"}, {"url": "https://technode.global/2023/10/03/malaysias-teleport-and-chinas-sf-airlines-to-cross-share-logistics-network/", "page": 15, "title": "Malaysia\u2019s Teleport and China\u2019s SF Airlines to cross-share logistics network", "contents": "TeleportTeleport said in a statement on Monday that the duo have signed a bilateral interline partnership to leverage on each other\u2019s extensive air network to better serve their respective customers \u2013 Teleport brings to the table deep logistics access into Southeast Asia, and SF Airlines the largest express network within China and outbound into European and North American markets. According to the statement, this partnership has already moved significant cargo volumes for customers of both parties on the combined network. Teleport, is actively adding third-party airlines to its  air logistics network to expand into key airports such as Kuala Lumpur and Bangkok from China, while extending network reach into new markets such as Europe and the United States. \u201cThis partnership is in service of our continued efforts to add valuable third-party airline partnerships to Teleport, \u201cWe are looking forward to supporting SF Airlines to expand their cross-border product in Southeast Asia,\u201d said Pete Chareonwongsak, Chief Executive Officer of Teleport. He said the partnership with SF Airlines, the largest cargo airline in China, not only strengthens the firm\u2019s regional connectivity within China but also extends its market reach into Europe and the Americas, connecting its network globally beyond Southeast Asia. \u201cThis will help us better serve our customers needs, deepen our end-to-end capabilities, and ramp up our ability to scale our business to better serve the region,\u201d he said. He also said this collaboration reflects the firm\u2019s relentless commitment to revolutionize air logistics in Southeast Asia and beyond \u2013 to provide its customers with a faster, more affordable, and uncomplicated go-to choice to move things across Southeast Asia, and now globally. It is noted that SF Airlines operates a formidable fleet of 84 freighters serving 90 global destinations, both present and past. Their international network includes destinations in Europe, the United States, the Middle East, and Southeast Asia, among others. \u201cWe\u2019re delighted to partner with Teleport, a market leader in the Southeast Asia region, \u201cThis partnership allows us to deepen our network access into Teleport\u2019s wide network reach and frequency into Southeast Asia as well as key Asia Pacific markets, \u201cWe look forward to this partnership in further strengthening our commitment to continuously expand and strengthen our air-logistics service capability,\u201d said Li Sheng, Chairman of SF Airlines. According to the statement, Teleport is the current market leader by volume of cargo moved across Southeast Asia and boasts the largest air logistics network in the region, utilizing the surplus belly space of 204 wide-and-narrow-body AirAsia passenger aircraft. Additionally, Teleport inducted the first of three Airbus A321 Freighter (A321F) aircraft in July, to further solidify its leadership position in the region. Malaysia\u2019s Teleport unveils first A321 freighter"}, {"url": "https://technode.global/2023/10/02/malaysias-hektar-reit-partners-gma-resources-for-ev-charging-bays/", "page": 15, "title": "Malaysia\u2019s Hektar REIT partners GMA Resources for EV charging bays", "contents": "Hektar Asset Management Sdn. Bhd. , the Manager ofThis initiative involves the installation of 13 Electric Vehicle (EV) charging bays across six shopping malls in Hektar REIT\u2019s portfolio commencing from 1 January 2024, Hektar REIT said in a statement on Monday. In the retail landscape that continues to adapt to changing consumer behaviors and global challenges, such as climate change, the firm said the installation of EV charging bays presents an innovative move to stay ahead of market demands. It said that this initiative represents not just an alignment with the global move towards green energy but also a concrete step in the firm\u2019s robust Environmental, Social, and Governance (ESG) initiatives. According to the statement, these charging bays represent an upgrade to the existing bays across the portfolio based on their latest technology aligning better with Hektar REIT\u2019s commercial and sustainability goals. The firm is also introducing an additional bay which will be the first of its kind at our shopping mall located at Segamat Central in Segamat, Johor, fortifying the REIT's commitment to bringing greener options to diverse and under-served geographical locations. \u201cAfter three decades in the energy sector, we are thrilled to embark on this EV charging bays collaboration with Hektar REIT, aligning with their energy transition efforts to champion a sustainable environment,\u201cIt further underscores our belief that the renewables & EV sector will emerge as vital components of our portfolio and we look forward to future innovation opportunities in this space,\u201d said Johan Azman Ghaus, Director of GMA Resources Sdn. Bhd. In alignment with Hektar REIT\u2019s unwavering commitment towards ESG goals, Hektar REIT said a key part of this collaboration centers on enhancing the portfolio\u2019s sustainability credentials. It said the introduction of these EV Charging Bays not only promotes the adoption of green transportation options but also strengthens Hektar REIT\u2019s appeal to a growing demographic of environmentally conscious shoppers and loyal patrons. \u201cWe are thrilled to announce our collaboration with GMA. This partnership amplifies Hektar REIT\u2019s dedication to pioneering the future of transportation, ensuring unparalleled convenience and championing sustainability for our valued patrons,\u201d said Johari Shukri Jamil, Executive Director and Chief Executive Officer of Hektar Asset Management Sdn. Bhd. According to him, these new EV charging bays signify more than just infrastructure as they represent Hektar REIT\u2019s pledge to nurture greener communities and drive innovation in retail experiences. \u201cWith these new EV charging bays, we aim to make every shopping trip a little more convenient, ensuring our EV-driving patrons feel right at home while they shop, dine, and recharge \u2013 both their cars and their spirits,\u201d he said. As part of the firm\u2019s larger mission to champion environmental responsibility, he said Hektar REIT is committed to rolling out even more sustainability-focused initiatives in the near future. \u201cOur aim is to tangibly reduce our carbon footprint, ensuring that our malls aren\u2019t just places of commerce but hubs of green innovation and community partnership. Stay tuned as we continue our journey towards a greener tomorrow,\u201d he said. Hektar REIT is Malaysia\u2019s first listed retail-focused REIT. The firm currently owns 2 million square feet of retail space in four states with assets valued at MYR 1.2 billion ($250 million) as at 30 June 2023. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT\u2019s portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. CelcomDigi and Yinson seal partnership to elevate Malaysia\u2019s eMobility ecosystem"}, {"url": "https://technode.global/2023/10/02/malaysian-central-bank-micro-and-small-businesses-will-continue-to-enjoy-zero-cost-transactions-duitnow-qr-payments-no-new-costs-for-individual-customers/", "page": 15, "title": "Malaysian Central Bank: micro and small businesses will continue to enjoy zero-cost transactions DuitNow QR payments", "contents": "Malaysian Central Bank said last Friday that micro and small businesses in Malaysia will continue to enjoy zero-cost transactions DuitNow QR payments, and no new costs for individual customers. Bank Negara Malaysia (BNM)The transaction fee applicable for business merchants is known as the merchant discount rate (MDR), which is a common fee associated with the provision of electronic payment services. It is charged based on a percentage of the payment transaction value to cover processing costs. A business merchant would receive the payment made by their customers after deducting the MDR. Currently, debit and credit card payments also incur MDRs. According to the bank, the transaction fee is intended to cover costs and investments needed by the industry to upkeep their payment systems, including cybersecurity and fraud prevention controls, in order to maintain the high service and security standards for payment services. The bank said that DuitNow QR remains an affordable and cost-effective payment method. For individual customers, it said the usage of DuitNow QR to make payments will not attract any additional charges. For businesses, it said any transaction fee imposed on QR payments remains as low as, or lower than, fees imposed on payments using debit cards. It also said businesses using DuitNow QR as a payment method also do not need to incur recurring costs for POS terminal rental for card-based payment channels or additional overhead and administrative costs for handling cash payments. It said the industry will take measures to minimize the potential impact of transaction fees on small businesses. According to the statement, major banks and selected non-bank financial service providers, who manage 75 percent of businesses currently accepting DuitNow QR payments, have announced that they will continue to waive the transaction fee for micro and small businesses accepting DuitNow QR payments. In addition, it said Payments Network Malaysia Sdn Bhd (PayNet), the operator of DuitNow QR, will allocate resources to help defray the costs incurred by acquirers that continue to offer full waivers to micro and small businesses accepting DuitNow QR payments. Together, it said these measures will enable micro and small businesses to continue to enjoy DuitNow QR payment services at zero cost, while ensuring that QR payment services remain efficient, reliable, and safe for all consumers. BNM emphasized that the bank remains fully committed to supporting the widespread adoption of digital payments in Malaysia through a vibrant, secure, and inclusive payment ecosystem that is also sustainable over the long term. Malaysia central bank, ASEAN 5 to set up multilateral platform for cross-border payment connectivity"}, {"url": "https://technode.global/2023/10/02/gobi-partners-backs-malaysian-agritech-startup-boomgrow/", "page": 16, "title": "Gobi Partners backs Malaysian agritech startup BoomGrow", "contents": "Asia-focused venture capital firm Gobi Partners is doubling down on its commitment to Environment, Social and Governance (ESG)-friendly investments through its latest strategic funding into Malaysian agritech startup The investment is made through the Khazanah Nasional Berhad-With this latest funding round, BoomGrow aims to expand operations across Southeast Asia. BoomGrow operates Machine Farms in Malaysia, and they are in the process of expanding. Their recent move into Manila, Philippines is a strategic response to the high population density and the growing demand for fresh, clean, and nutritious produce. Its initial grant funding came from SME Corp and venture capital funding from Big Sky Capital, an American venture capital firm as well as angel investors. \u201cWe are excited to be part of the Khazanah and Gobi family. BoomGrow is enabling access to better- quality fresh food by focusing on our ESG principles,\u201cOur commercial-scale solutions are backed by a data-driven approach which is key to resilience and agile decision-making,\u201d BoomGrow Co-founder and Chief Executive Officer, Murali Krishnamurthy said. \u201cUltimately, we are unlocking the future of food whilst having a transformative impact on the environment and our communities, \u201cIt\u2019s great to see investor alignment with our vision which will enable us to execute our growth plans across Southeast Asia,\u201d he said. Founded by a gender-diverse dynamic trio, BoomGrow strives to bring healthy, nutritious food within reach by focusing on densely populated urban areas where traditional farming is scarce and affected by long supply chains. Its co-founders, Murali Krishnamurthy, with an Accounting and Finance background; Dr. Jay Desan, an advisor with extensive experience in ESG; and Shan Palani, a designer and architect, lead this mission. Since its inception in 2015, BoomGrow has been making waves internationally with its innovative approach to growing fresh produce. They have turned repurposed shipping containers into what they call \u201cMachine Farms\u201d where they can be located in situ, growing pesticide-free vegetables with a significantly reduced carbon footprint. A key feature of the Machine Farm is the ability to grow close to consumers as well as serve remote areas. Modular and stackable, the Machine Farms are a model for the future of scalable, sustainable hyper-local farming. Compared to traditional outdoor farms, these farms use 95 percent less land, water and labor. This capability is pivotal in areas with limited access to fresh, clean and traceable produce, which is aligned with the company\u2019s ultimate goal of producing vegetables throughout the entire region. BoomGrow\u2019s Farm OS meanwhile, is a remote management platform that seamlessly integrates hardware and software. It uses machine vision and machine learning to optimize operations and performance across all farms based on data. Currently, BoomGrow can produce a wide range of leafy greens, microgreens, and herbs. They are also planning to expand into a wider range of produce like fruiting and vine crops. The company mainly supplies hotels, restaurants and grocers as well as offering additional subscription packages for direct-to-home delivery through their website. \u201cWe are at the point in history where we cannot overlook the importance of investing in the right companies that can change\u201cFood security is a major issue faced by many countries as a result of climate change, rising population, and limited supply of farming areas,\u201cTheir innovative solutions are ensuring that our supply chain remains intact and healthy for generations to come,\u201d he added. Khazanah initiated Project Semai, a nationwide research project to better understand the challenges faced by agriculture workers and smallholders to improve Malaysia\u2019s food security. A nationwide survey was conducted, involving over 3,000 smallholders between 2022 and 2023. Climate change was identified as one of the top three challenges faced by smallholders in Malaysia. Therefore, climate-smart agrifood solutions would be critical to enable sustainable and resilient agrifood systems. GDIV is part of Khazanah\u2019s Future Malaysia Programme (FMP), an initiative under the sovereign wealth fund\u2019s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. Dana Impak is a key pillar of Khazanah\u2019s Advancing Malaysia strategy that aims to deliver socioeconomic impact for Malaysia across six themes \u2013 Digital Society and Technology, Quality Health and Education for all, Decent Work and Social Mobility, Food and Energy Security, Building Climate Resilience, and Competing in Global Markets. Gobi Partners invests in Malaysia\u2019s e-waste recycling firm ERTH"}, {"url": "https://technode.global/2023/10/02/malaysias-tnb-accelerates-commitment-to-3-netr-flagship-project-in-large-scale-clean-energy-and-re-zones/", "page": 16, "title": "Malaysia\u2019s TNB accelerates commitment to 3 NETR flagship project in large scale clean energy and RE zones", "contents": "Malaysian utility firm In a statement on last Friday, TNB President and Chief Executive Officer Baharin Din unveiled the firm\u2019s plans to generate a total of 3,000 megawatts (MW) of renewable energy by 2040 within the ambit of its NETR flagship projects. This includes harnessing 2,500MW through innovative hybrid hydro-floating solar (HHFS) technology, alongside an additional 500MW from five distinct LSSPs, with a 100MW capacity each. According to him, the HHFS project will be executed in four phases from 2023 to 2040, located at TNB hydro dam reservoirs. He said that TNB Power Generation Sdn Bhd (TNB Genco) will lead the construction of a 230MW capacity installation at the Temenggor and Chenderoh hydro plants as part of the 2.5GW pipeline. The project targets completion by 2025. \u201cTNB\u2019s role as the champion behind the Large-Scale Solar Park (LSSP), Hybrid Hydro-Floating Solar (HHFS), and co-firing hydrogen and ammonia projects, all of which are integral to advancing the nation\u2019s green agenda while fostering economic growth,\u201d he said. He also said TNB\u2019s Energy Transition Plan aligns with the NETR, emphasizing three key pillars: accelerating generation decarbonization, developing a flexible cross-border grid, and empowering crosssector electrification and prosumers. Baharin also said that TNB\u2019s New Energy Division (NED) is supporting the Corporate Green Power Program (CGPP) and is set to generate 90MW when it becomes operational in 2025. According to him, the program addresses the growing demand for sustainable energy solutions through LSSPs, complementing existing projects in Sepang, Selangor (50MW), Bukit Selambau (30MW) and Bukit Selambau 2 (50MW) Kedah which is projected to be fully operational by the end of this year.    It is noted that TNB is partnering with National Petroleum Limited (Petronas) for co-firing hydrogen and ammonia projects and with Mitsui & Chugoku for ammonia and biomass initiatives, aiming to diversify its energy sources. \u201cSmall-scale co-firing projects are underway at selected coal plants in Port Dickson, Negeri Sembilan (Jimah East Power), and Lumut, Perak (Manjung 1 and Manjung 4). This Front End Engineering Design (FEED) phase serves as a crucial prerequisite for the co-firing implementation, that we are targeting for specific coal assets,\u201d he said. He also said TNB is on track to achieve its 8.3GW renewable energy (RE) target by 2025. \u201cAs of June 2023, we have already achieved 48 per cent of our total target capacity. Including NETR Part 1 projects, we anticipate adding another 1,200MW of domestic RE capacity by 2025,\u201cWe firmly believe that domestic RE will play a pivotal role in our portfolio, aligning with the nation\u2019s objective of reaching 70 per cent installed RE capacity by 2050,\u201d he added. He noted that TNB is actively fostering partnerships with regional counterparts to support the realisation of the ASEAN Power Grid (APG). \u201cWe have secured 10 Memorandum of Understanding and Letters of Intent, signifying our commitment to advancing interconnection infrastructure development and renewable energy investments, \u201cThis underscores TNB\u2019s dedication to regional collaboration and sustainable energy progress,\u201d he said.   Baharin also emphasized that these NETR initiatives would not only contribute significantly to the nation\u2019s economy but also to meeting the country\u2019s net zero carbon aspiration. \u201cWe take pride in TNB\u2019s ability to make significant contributions to the Nation through our participation in pivotal projects while simultaneously ensuring the readiness of our Grid for the challenges of the future,\u201d he said. Malaysia\u2019s TNB partners Laos\u2019s EDL to boost cross-border renewable energy trade"}, {"url": "https://technode.global/2023/09/28/atozero-asean-2023-to-be-held-in-klcc-malaysia-from-oct-4-6/", "page": 16, "title": "AtoZero Asean 2023 to be held in KLCC, Malaysia from Oct 4-6", "contents": "AtoZero ASEAN 2023Accelerating Net Zero Pathways across AsiaThe race to net zero is our generation\u2019s biggest and most important challenge. A challenge we cannot fail. Scientists recently warned that we are likely to breach the 1.5 degree threshold by 2027 \u2013 the world is certain to experience new record temperatures in the next 5 years. Clearly, this is a time for the world to accelerate to zero. This calls for unprecedented global collaboration, bold initiatives, rapid deployment of innovation, financing meeting transition and transformation demands at speed \u2013 all whilst maintaining a secure affordable and accessible energy landscape. AtoZero, or \u201cAccelerate To Net Zero\u201d, is a new series of events bringing together key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities that will catalyse an acceleration of net zero pathways. Co-located with the 14th International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM), AtoZero ASEAN 2023 will feature a strategic conference, innovation exhibition and leadership dialogues at the Kuala Lumpur Convention Centre (KLCC) from Oct 4 \u2013 6, 2023. AtoZero ASEAN is co-organised by Constellar and the Malaysian Green Technology and Climate Change Corporation (MGTC). As the Media Partner of the event, TNGlobal audiences are eligible for 20 percent OFF standard delegate rates with promo code: TNG20. Register here: Registration Site*AtoZero ASEAN 2023 is HRD Corp Claimable. For more details, kindly contact "}, {"url": "https://technode.global/2023/09/27/malaysian-bourse-commences-carbon-credits-trading/", "page": 16, "title": "Malaysian bourse commences carbon credits trading", "contents": "Malaysian bourse By the close of its second day of trading, ten companies from various industries transacted a total of 16,500 Verra-registered carbon credits, Bursa Malaysia said in a statement. The exchange said that this signals an encouraging start for Malaysia\u2019s voluntary carbon market (VCM). \u201cWe are pleased with the successful go-live of the BCX trading platform. Bursa Malaysia\u2019s efforts and agility underscores our speed-to-market in fulfilling a national mandate to facilitate the country\u2019s shift towards a lower carbon economy,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.   For the commencement of trading, two standardized contracts were offered \u2013 the Global Technology-Based Carbon Contract (GTC), focusing on global technology-based greenhouse gas (GHG) reduction projects, and the Global Nature-Based Plus Carbon Contract (GNC+), which features global nature-based GHG reduction projects with co-benefits in the Agriculture, Forestry and Other Land Use (AFOLU) sector.  Companies who took part in the go-live trading on BCX (beginning with the highest volume traded) were Vitol Asia Pte Ltd; Petro Ocean Sdn Bhd; Global Tunikara Sdn Bhd; Sumisaujana TCM Chemicals Sdn Bhd; Green Innotech Sdn Bhd; Graphene Synergy R&D Sdn Bhd; Yinson Holdings Bhd; ICT Zone Asia Bhd; CIMB Bank Berhad; Sisma Water Technology Sdn Bhd. \u201cInterestingly, we observed a notable surge in participation by smaller companies, demonstrating the growing awareness of environmental responsibility among not just public listed companies, but also among small and medium-sized enterprises,\u201cWhile the participation of large corporations remains vital, this shift indicates that there is wider embrace of sustainability practices, which suggests future broader demand for decarbonization projects,\u201d added Umar.   According to him, the bourse\u2019s aspiration is to offer a variety of environmental solutions based on market needs. \u201cWe have received increasing requests from corporates seeking an independent and cost effective platform for renewable energy certificates (RECs) transactions, \u201cThus, we are pleased to announce our intent to offer RECs on BCX by the third quarter of next year,\u201d he said.  As a trusted and experienced exchange operator, he said Bursa Malaysia has a key role in the national energy transition, which is to facilitate financing in low carbon technologies, and accelerating availability of RECs. According to the statement, the BCX is one of the many initiatives by the exchange to complement proactive efforts by Malaysian companies to reduce their impact to the environment. \u201cBCX will take time to build liquidity as it is in its infancy stage. In time, we are confident that our various ecosystem building efforts and offering of high quality environmental solutions will surely gain traction, \u201cWe urge leading companies to step up and be early active participants of the BCX, either as a supplier or a buyer,\u201d Umar added.   According to the statement, BCX is currently waiving its onboarding fee and offering a discount on its trading fee until the end of 2023. Companies who have yet to onboard or trade are encouraged to take advantage of the offer before the year ends. The BCX trading platform was co-designed and developed with Deon Digital AG, which is headquartered in Switzerland.  Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005 and has grown to be one of the largest bourses in ASEAN today. BCX is a global spot exchange that enables corporates to take practical climate mitigation action through the trading of carbon credits from projects with measurable climate action outcomes that adhere to international standards. The carbon exchange was incorporated in 2022 and is operated by Bursa Malaysia Carbon Market Sdn Bhd.  Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange"}, {"url": "https://technode.global/2023/09/27/malaysian-care-giving-platform-kiddocare-secures-strategic-investments-in-pre-series-a-round/", "page": 16, "title": "Malaysian care giving platform Kiddocare secures strategic investments in pre-series A round", "contents": "Malaysia\u2019s on-demand caregiving platform Kiddocare has announced the successful conclusion of its Pre-Series A round. Kiddocare said in a statement on Wednesday that the round included strategic investments from prominent investors, led by Artem Ventures, with participation from Gobi Partners, MSW Ventures Asia Fund X and ScaleUp Malaysia. It said that Gobi Partners\u2019 participation via the Khazanah Nasional Bhd-backed Gobi Dana Impak Fund (GDIV) underscores Kiddocare\u2019s pivotal role in creating impact within the Malaysian economy and its promising future. It also said this investment strategically positions Kiddocare for accelerated growth and innovation. It said the company will leverage these resources to expand its platform, reach a wider audience, and create fresh opportunities for women, not only in caregiving but also across a multitude of sectors. \u201cCentral to our mission is the professionalization of caregivers. In an industry that often lacks recognition, we are committed to setting new standards,\u201d said Kiddocare Founder and Chief Executive Officer Nadira Yusoff. \u201cThrough innovative technology, necessary training and certification, career paths and social safety nets, Kiddocare ensures that caregivers are equipped with the skills, knowledge and support necessary to provide top-tier care, \u201cThis investment reinforces our resolve to elevate caregiving as a respected and professionalized career of choice,\u201d he added. Founded in 2019, Kiddocare is a homegrown childcare services platform that connects parents with verified childcare providers based on their preferences for time and location. The firm was initially formed as an initiative to create an ecosystem to support working parents by giving them the gift of freedom and time by connecting them with babysitters to care for their children. It is also Kiddocare\u2019s aim to empower women who want to pursue childcare as a career or to generate extra income, by providing a platform for them to do so. According to Kiddocare, these caregivers undergo rigorous screening and training, adhering to the firm\u2019s stringent protocols before joining the platform. To ensure utmost safety, a dedicated customer service team manages each booking, providing real-time updates. Kiddocare also simplifies the booking process through its user-friendly app, currently serving the Greater Klang Valley and expanding its reach to regions like Seremban and Johor Bahru, with nationwide expansion plans in the pipeline. The platform primarily caters to urban millennial mothers, who wield substantial purchasing power and seek reliable childcare solutions. Artem Ventures Managing Partner Low Zhen Hui said that the firm  recognized Kiddocare\u2019s potential to magnify the care economy by empowering women to become highly skilled caregivers. \u201cThrough the application of technology, caregivers have more options to not only expand their capabilities and knowledge but also explore new ways to evolve their careers with Kiddocare, \u201cWith our partner FWD Group, we aim to collaborate closely with Kiddocare in further enriching caregivers and enhancing customer experience,\u201d he said While conventional childcare roles often yield less than MYR 2,000 ($425) per month, Kiddocare offers the potential for weekly earnings of up to MYR 1,500 ($319), affording women the flexibility to navigate motherhood and education. The Kiddocare Academy further provides opportunities for career advancement through specialized training programs for carers, such as counselling, eldercare, tutoring and entrepreneurship. Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said that the firm has been monitoring Kiddocare\u2019s progress for several years, and it believes the current momentum warrants its investment. \u201cWhile we recognize that managing the gig industry poses challenges, as it is inherently subject to leakages and low stickiness, we think that Kiddocare\u2019s operating model is defensible, \u201cAs such, we believe it is poised to make a significant economic impact on the country. We\u2019re confident the team\u2019s ability to reach this ambitious goal,\u201d he said. GDIV is part of Khazanah\u2019s Future Malaysia Programme (FMP), an initiative under the sovereign wealth fund\u2019s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. \u201cAcquisiting childcare services is a stressful, high-involvement parenting process, the triumvirate factors of quality, availability and consistency underwrite the decision-making process,\u201d said MSW Ventures Asia Fund X General Partner Jeffrey Seah. According to him, Kiddocare has significantly reduced those parenting insecurities through their focus on quality \u2013 market-leading training programs, qualification-based service standards set by industry experts and building up a caregiver base motivated to constantly upgrade skills and service delivery. He also noted that the team has injected trust into a family care service acquisition platform built on the logistical reach of the gig economy. Meanwhile, ScaleUp Malaysia Senior Partner and Co-founder Dr. Sivapalan Vivekarajah said that the firm invested with Kiddocare in 2020, amidst the global crisis, recognizing the untapped potential in the care economy. \u201cWe\u2019re thrilled to see Kiddocare evolve into a catalyst for economic growth and women\u2019s empowerment. We\u2019re committed to fueling this transformative journey,\u201d he said. Malaysian preventive healthcare provider DrPrevents aims to secure $870,000 via ECF"}, {"url": "https://technode.global/2023/09/26/malaysias-samaiden-partners-mbgb-to-advance-clean-energy-initiatives-in-apac-region/", "page": 16, "title": "Malaysia\u2019s Samaiden partners MBGB to advance clean energy initiatives in APAC region", "contents": "Samaiden Group BerhadSamaiden said in a statement on Tuesday that this collaboration aims to expand business opportunities and accelerate the growth of renewable energy solutions, particularly for the mining sector within the APAC region. The collaboration aims to establish a strategic relationship focused on mutual advancement in the clean energy sector. Leveraging the unique capabilities and resources of both Samaiden and MBGB, the partnership will introduce standardized procedures to assess financial, technical, and regulatory aspects, catalyzing growth in renewable energy initiatives in the APAC mining sector. Samaiden brings to the table its extensive knowledge and expertise in clean energy technology and comprehensive engineering, procurement, construction, and commissioning (EPCC) services. MBGB, on the other hand, will contribute its own insights into clean energy technology and resource optimisation. Together, they plan to jointly develop clean energy projects that will serve the mining sector across the APAC region. \u201cThis partnership signifies a milestone in Samaiden\u2019s ongoing commitment to renewable energy, \u201cCoupling the expertise of both Samaiden and MBGB, we are confident that this collaboration will establish a stronger and more sustainable energy landscape throughout the APAC region,\u201d Samaiden Group Managing Director Chow Pui Hee said. MBGB Executive Director Derek Phang Kiew Lim, on the other hand, said that this collaboration aligns with the firm\u2019s commitment to sustainable energy solutions and opens new avenues for both companies in the rapidly evolving APAC clean energy market. \u201cWe are excited to enter this partnership with Samaiden, one of the leaders in the renewable energy space,\u201d he said. Samaiden through its subsidiary is a renewable energy specialist incorporated in 2013. The firm is principally involved in EPCC of solar photovoltaic (PV) systems and power plants. Samaiden\u2019s other activities include the provision of renewable energy and environmental consulting services, as well as operation and maintenance (O&M) services. Meta Bright and its subsidiaries is involved in the hospitality business with the renowned four-star hotel Grand Renai in Kelantan. The group is also involved in investment properties and property development, currently focusing on its Damai Project in Sabah. In addition, the group has recently diversified into the energy industry as a Registered Solar PV Investor (RPVI), and the financing and leasing business, aligning with its strategy to enter into sustainable business activities to further grow the group. This diversification follows the successful turnaround of the group\u2019s existing hospitality businesses, as a result of new management\u2019s relevant business expertise. The group said it will continue to build o its core competencies while actively exploring various profitable business adjacencies to strengthen the group\u2019s earnings. Malaysia\u2019s Solarvest secures 11 solar photovoltaic projects in Vietnam"}, {"url": "https://technode.global/2023/09/26/globalfoundries-opens-new-malaysia-office-to-support-global-manufacturing-operations/", "page": 16, "title": "GlobalFoundries opens new Malaysia office to support global manufacturing operations", "contents": "United States-listed chipmaker GlobalFoundries said in a statement that this new facility will create 300 high-value manufacturing support roles, including technicians, engineers, administrative and support functions. According to the statement, the GlobalFoundries Malaysia office is part of a strategic hub network that leverages the company\u2019s global footprint and complements its global fab operations by providing engineering resources to supplement operations on a real-time basis. This site will utilize the latest digital manufacturing technologies such as remote access, Industry 4.0 solutions and GlobalFoundries\u2019s state-of-the-art Factory Control Tower. It is noted that the new Penang operation will ensure that all of GlobalFoundries\u2019 global manufacturing sites in Singapore, the United States, and Europe have fundamental round-the-clock support enabling the company to maintain supply chain resiliency and sustainability for global operations, as GlobalFoundries continues to deliver on our commitments to meet the market demand for GF chips. \u201cOur newly opened Malaysia operations will leverage the strengths of our existing global manufacturing footprint and harmonize operations across all sites, offering customers truly world-class global operations,\u201d said Kay Chai (KC) Ang, Chief Manufacturing Officer, GlobalFoundries. \u201cPenang is a vibrant location at the forefront of semiconductor manufacturing innovation, \u201cThe forward-thinking policies of the government have built a strong ecosystem and attracted a large base of highly skilled talent in our industry that will enable us to diversify our talent pool,\u201d he said. According to the statement, the GlobalFoundries Malaysia office is located at Bayan Lepas, Penang, and will be a complement to the recently opened GF Singapore fabrication plant. The close proximity between both countries provides opportunities for cross-border initiatives and broadening the talent pool. \u201cAt a time where business and supply chain resiliency are key priorities, GlobalFoundries\u2019 global manufacturing footprint sets the company ahead of the pack, \u201cParticularly, the company\u2019s emphasis on digital manufacturing also aligns with Penang\u2019s goals and roadmap as we continue to anchor our position as the Silicon Valley of the East,\u201d said Chow Kon Yeow, Chief Minister of Penang. Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer Ts. Mahadhir Aziz said that the establishment of GlobalFoundries new hub facility signifies confidence in Malaysia\u2019s robust and enabling ecosystem, its pool of digitally skilled talent and world-class infrastructure that affirms Malaysia\u2019s position as the digital hub of ASEAN. \u201cThrough the Malaysia Digital (MD) national strategic initiative and PEMANGKIN programs, we look forward to supporting GlobalFoundries\u2019 expansion in Malaysia, transforming our digital capabilities, creating job opportunities, and further enhancing growth in the digital economy,\u201d he said. According to the statement, Malaysia hopes to achieve a 15 percent market share in the semiconductor and electronics industry by 2030, up from 13 percent. The State, via InvestPenang, strives to provide continuous assistance and facilitation for all investors in Penang, while spearheading the development of a sustainable industrial ecosystem, and GlobalFoundries stands ready to support this effort with the opening of its new office. GlobalFoundries one of the world\u2019s leading semiconductor manufacturers. The firm developes and delivers feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. It offers a unique mix of design, development and fabrication services. Bosch invests $384M for new semiconductor backend site for chips in Malaysia"}, {"url": "https://technode.global/2023/09/26/malaysias-nexmind-raises-seed-funding-from-500-global-launches-text2social/", "page": 16, "title": "Malaysia\u2019s NexMind raises seed funding From 500 Global; launches Text2Social", "contents": "NexMindNexMind said in a statement that the new funding will be used to expand the firm\u2019s product offerings and accelerate customer acquisition worldwide. The firm also launched Text2Social, a new robust feature that increases user efficiency by allowing them to generate engaging social media posts across multiple channels with just one click. According to the statement, this is a significant development that allows users to create social media posts in any of the 17 languages, ensuring their message is localized and relevant to garner higher engagement. The tool conducts in-depth audience research to identify multiple data points useful for generating effective social media content, enabling marketers to spend less time on data analysis, and more time implementing data-driven decisions that support their marketing and communication goals. \u201cOur focus is to help business teams generate more leads, increase brand awareness, and enhance their productivity through advanced yet intuitive AI tools, \u201cWe are proud to have the support of 500 Global in our mission to be a world-class AI solutions provider,\u201d said Francis Lui, Chief Executive Officer and Founder of NexMind. Founded in 2019, NexMind has been self-funded and operating profitably since 2021. The company empowers professionals across industries with advanced SEO tools to create search-optimized content in 17 languages effortlessly through its proprietary AI framework. \u201cThere are 5 billion internet users in the world, and 3 billion more are projected to come online by 2040. To reach them you\u2019ll need to speak their languages, \u201cWe believe NexMind\u2019s multilingual AI solutions will propel the growth of today\u2019s online businesses, accelerate the exchange of goods and services for the next wave of internet users, and have a positive impact on the future of our global economy,\u201d said Khailee Ng, Managing Partner, 500 Global. According to the statement, among the languages supported currently are Bahasa Indonesia, Bahasa Malaysia, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Tagalog, Thai, and Vietnamese. NexMind simplifies and streamlines how brands create multilingual search-optimized content that ranks on search engines like Google and Bing, as well as eCommerce marketplaces like Amazon, Lazada, and Shopee, allowing brands to boost organic traffic to their website and online stores to reach a global audience. The firm was co-founded by Francis Lui (Chief Executive Officer), Bernie Law (Chief Product Officer), and Pattrine Hong (Chief Financial Officer). Lui previously founded Nexus Mediaworks International, Malaysia\u2019s first SEO company and a Google Premier Partner agency. Following its success, he launched NexMind in 2019 to build a platform that makes the digital marketing skills he acquired over a decade accessible to everyone in seconds. NexMind\u2019s users are from leading global and regional companies across multiple industries, including banking, insurance, electronics, security, information technology (IT), telecommunication, construction, transport, healthcare, and more. Malaysia Airports, Asia Mobiliti enter strategic collaborations with Google Cloud to enhance travel experiences in Malaysia"}, {"url": "https://technode.global/2023/09/26/malaysias-solarvest-secures-11-solar-photovoltaic-projects-in-vietnam/", "page": 16, "title": "Malaysia\u2019s Solarvest secures 11 solar photovoltaic projects in Vietnam", "contents": "Malaysian clean energy firmSolarvest said in a statement on Thursday that the projects have been secured via its wholly-owned subsidiary, Solarvest (Vietnam) Co. Limited. Solarvest said that it will play a pivotal role as a clean energy developer for these secured projects, actively engaging in project development, financing procurement, and the provision of comprehensive operations and maintenance services. It said the group is collaborating with a renowned local partner that will deliver engineering, procurement, construction, and commissioning (EPCC) services for these projects.   It also said the group\u2019s expansion into the Vietnamese market aligns with its commitment to address the surging demand for sustainable energy solutions. Currently, Solarvest boasts a robust project tender book of 100 MWp in the country, demonstrating its dedication to the growth and development of clean energy initiatives in the region. \u201cWe are delighted with the progress of our overseas expansion efforts, which is well-aligned with our 5-year strategic roadmap,\u201cIncluding Vietnam, our overseas project tender book now stands at 620 MWp, indicating a strong job pipeline for the Group. This strategic expansion positions Solarvest favorably to tap into new streams of overseas income,\u201d Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said. According to him, the prospects in Vietnam\u2019s clean energy market are highly promising, with its commitment to transition away from coal as outlined in the Vietnam Eight National Power Development Plan (PDP8). He said that the PDP8 establishes ambitious goals in the country\u2019s energy generation mix, aiming for renewables installed capacity to reach 150 gigawatts (GW) by 2030 and 500 GW by 2050. Consequently, he said Vietnam\u2019s Ministry of Industry and Trade (MoIT) recently introduced a mechanism to incentivize the development of rooftop solar power systems, with a vision of equipping half of the country\u2019s office and residential buildings with rooftop solar panels by 2030. \u201cAs part of our strategic expansion plan, we are advancing across the value chain as a comprehensive clean energy developer for our overseas projects,\u201d he said. Given the focus on solar and wind energy within PDP8, where solar and wind energy are projected to account for approximately 34 percent and 27 percent, respectively of the 500 GW installed capacity, he said the firm is actively exploring wind energy projects alongside its ongoing solar ventures in Vietnam. \u201cFurthermore, we are venturing into innovative sustainable solutions, including battery energy storage systems (BESS), to enhance energy supply reliability and efficiency within our Vietnam projects, \u201cThese efforts are aimed at strengthening our foothold in both the domestic and international clean energy markets,\u201d he added. Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific.  The Malaysia-based company started as a one-stop solar PV system solution provider for residential, commercial and industrial, and utility-scale solar farms. Today,  Solarvest also owns renewable energy generation plants with a cumulative capacity of over 100MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates.  Malaysia\u2019s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program"}, {"url": "https://technode.global/2023/09/26/meraque-paves-the-way-for-robotics-automation-in-agriculture-for-malaysia-with-nations-first-ever-plantation-agv/", "page": 16, "title": "Meraque paves the way for robotics automation in agriculture for Malaysia with nation\u2019s first-ever plantation AGV", "contents": "Meraque Group (Meraque)Meraque said in a statement on Tuesday that as an autonomous AGV, RACE is designed to navigate the intricate and challenging terrain of agricultural environments. It said RACE boasts a suite of impressive features that promise to redefine precision and efficiency in the industry. Its features include artificial intelligence (AI) powered mobility control, long-range (LoRa) real-time data transmission, light detection and ranging (LiDAR) navigation, an expansive 500-litre smart liquid tank, 12-metre maximum spray width and a robust 30\u00b0 terrain-climbing capability. According to the statement, Meraque has secured patents for the incorporation of real-time kinematic (RTK) LoRA technology, swarm technology and smart spraying within the RACE system. Meraque designed RACE to decrease dependence on foreign labor and enhance fertilizer spraying consistency in various crop and plantation fields, moving beyond just oil palm plantations. With a high-power computing module in the brain and AI, RACE is able to navigate its way autonomously between plants, and analyze surroundings for decision-making and routing, while setting boundaries using high-precision location points. RACE also comes equipped with 360\u00b0 vertical and horizontal directional spray functions, autonomous driving capabilities, a 700-kilogram maximum load capacity, advanced obstacle avoidance detection systems and an electronic parking system. The official launch of RACE signifies Meraque\u2019s evolution from a company primarily focused on drone technology to one that champions robotic automation, powered by artificial intelligence (AI,) specifically tailored for the agriculture sector. This transformation underscores Meraque\u2019s commitment to reshaping and modernizing the industry through cutting-edge technology. Meraque is a visionary Malaysian robotics solutions company pioneering technological innovation using artificial intelligence. The firm specializes in cutting-edge robotics solutions that boost efficiency, productivity, and sustainability in agriculture, while driving positive transformationIts portfolio includes autonomous ground vehicles, hybrid drone technology, enterprise software, and hardware solutions for palm plantation management, telco infrastructure inspection, and commercial drone deliveries. Meraque currently commands Malaysia\u2019s largest market share for drone spraying services and harbors bold ambitions. By 2025, the company aspires to be among the top 10 largest agricultural technology (AgTech) robotic automation companies globally. Meraque envisions a transformative role for itself within the agriculture industry, driven by digitalization and innovation. Thus, the launch of RACE represents a significant milestone in this journey. With a dedicated commitment to meeting the burgeoning demands of the palm oil plantation sector and other extensive agricultural landscapes such as durian, rubber, coconut, paddy fields, and pineapple, Meraque said it has successfully trained and employed over 250 individuals. Chief Executive Officer of Meraque, Md Razalee Ismail said that the company\u2019s commitment to innovation and sustainability has driven them to develop RACE to not only transform the industry but also advance Malaysia\u2019s agricultural prowess on the global stage. \u201cAs we stand on the precipice of a new era in agriculture, the launch of RACE marks a pivotal moment in our journey at Meraque. With RACE, we have evolved from a drone company to a leader in robotic automation, and this is just the beginning, \u201cWe want to play a significant role in realizing Malaysia\u2019s goal of becoming a prominent hub for robotics in services, agriculture and manufacturing, and achieving recognition as a high-tech nation by 2023,\u201d he said. According to the statement, the technology has already undergone rigorous real-world testing in plantations, leaving clients highly satisfied with its capabilities. Following the launch, RACE will undergo commercialization. As Meraque continues to push the boundaries in agriculture through automation and cutting-edge technology, RACE serves as a testament to the company\u2019s dedication to propelling the sector into a sustainable and technologically advanced future. \u201cWe envision a future where technology empowers the agriculture industry and enhances food security, \u201cWe are excited about the opportunities ahead and remain dedicated to making agriculture smarter, more efficient and more sustainable for everyone,\u201d Razalee Ismail added. According to the statement, Malaysia emerged in the 14th spot on the Automation Readiness Index and Robot Density. As an integral component of the National Robotics Roadmap, Malaysia is setting its sights on becoming a prominent regional hub for robotics in sectors such as services, agriculture and manufacturing by the year 2030. In line with this vision, the country has identified the agriculture industry as one of its high-impact sectors. Notably, the Malaysian robotics market is poised for substantial growth, with a projected compound annual growth rate of 17.5 percent expected to drive it to $273.61 million by 2027. Malaysia almost doubles its drone readiness within one year"}, {"url": "https://technode.global/2023/09/22/malaysias-vanda-re-receives-conditional-approval-for-cross-border-clean-energy-project/", "page": 17, "title": "Malaysia\u2019s Vanda RE receives conditional approval for cross-border clean energy project", "contents": "Malaysian clean energy firm Gentari said in a statement Friday that the approval was obtained for a 300MW (0.3GW) power generation project on Indonesia\u2019s Riau Islands \u2013 part of a joint effort by the Singapore and Indonesian governments, to establish a green electricity trading corridor between the two countries. Gentari International Renewables is a wholly-owned subsidiary of Malaysian clean energy solutions company, Gentari Sdn Bhd, while Gurin Energy is a Singapore-based renewable energy company. The companies are among the five that were granted the said approvals. Vanda RE\u2019s project targets to deliver 300MW of non-intermittent renewable energy to the Singapore market beginning 2027, and is underpinned by 2,000MW of solar photovoltaic installed capacity and supported by approximately 4,400MWh of battery storage, one of the largest such planned projects in the world. Vanda RE\u2019s conditional approval is a continuation of the governmental cooperation between Singapore and Indonesia in the energy sector. \u201cThis approval from the EMA will further strengthen Gentari and Gurin Energy\u2019s commitment to transforming the energy landscape in Southeast Asia and fostering a more sustainable future,\u201d Gentari\u2019s Chief Renewables Officer Low Kian Min said. \u201cIn the dynamic renewables sector, we rely on robust policies, frameworks and strong partnerships to scale our projects to reduce carbon footprints across borders, \u201cWe\u2019re delighted be part of this initiative to generate progress towards creating a sustainable world for all,\u201d he added. Malaysia\u2019s Gentari rebrands WIRSOL Energy to officially commence operations in Australia"}, {"url": "https://technode.global/2023/09/22/malaysias-kwap-launches-107m-to-boost-malaysias-venture-and-startup-ecosystem/", "page": 17, "title": "Malaysian pension fund KWAP launches $107M to boost Malaysia\u2019s venture and startup ecosystem", "contents": "Malaysia\u2019s pension fund With a commitment to invest up to MYR 500 million ($106.6 million) over the next 18 to 24 months, KWAP is set to empower early-stage companies, drive innovation, and support economic resilience, KWAP said in a statement. According to the statement, Dana Perintis encompasses two strategic pillars: investments into selected Malaysia-focused venture capital (VC) funds and direct investments into early-stage companies. With an allocation of MYR 250 million ($53.5 million) for each pillar, KWAP\u2019s initiative aims to accelerate growth within the Malaysian entrepreneurial landscape in line with KWAP\u2019s sustainability commitment as a signatory of the UN Principles for Responsible Investment (PRI). \u201cKWAP recognizes the potential for innovation and growth within Malaysia\u2019s venture ecosystem,\u201d said Hazman Hilmi Sallahuddin, Chief Investment Officer of KWAP. He sees Dana Perintis as an initiative that serves as a testament to the fund\u2019s commitment to enhance the growth of Malaysia\u2019s startup industry. \u201cWith Dana Perintis, we are not just investing financial capital, but also putting in our expertise, resources, and commitment to seeing these Malaysian startups succeed on a global stage, especially with the ones we are directly involved in,\u201d he added. As one of Malaysia\u2019s prominent investors, KWAP seeks to play a pivotal role in steering the nation toward a flourishing early-stage ecosystem. By strategically investing and addressing critical gaps, KWAP aims to propel the growth trajectory of the startup landscape, reaping attractive risk adjusted returns for its stakeholders. According to the statement, a substantial portion of up to MYR 250 million ($53.5 million) will be directed towards investing in VC funds with exposure focusing on Malaysia. This approach aligns with KWAP\u2019s endeavor to support the development of a self-sustaining venture ecosystem. These VC funds serve as dynamic catalysts, nurturing innovative startups by providing essential capital and guidance. KWAP\u2019s strategic investments will span the spectrum of the startup journey\u2014ranging from accelerators to growth managers\u2014contributing to the maturation of the overall Malaysian venture space. In parallel to the fund investments, another MYR 250 million\uff08$53.5 million\uff09 will be committed towards direct investments into promising early-stage companies. This commitment echoes KWAP\u2019s intention to nurture startups through growth and expansion stages. \u201cWe are dedicated to empowering startups and SMEs, supporting employment, and nurturing innovation\uff0c\u201cIn realising these visions, KWAP has already identified several potential startups to invest in, which currently employ more than 1,000 Malaysians from different backgrounds,\u201d Hazman added. The launch of Dana Perintis is aligned with the Economy Madani initiative and reflects KWAP\u2019s focus on empowering small and medium-sized enterprises (SMEs) for expansion, fostering economic growth and contributing to Malaysia\u2019s entrepreneurial future. As KWAP implements this initiative, it remains conscious of its role and commitment to the pensioners who are its primary stakeholders, to spur the growth of the pension fund. Established in 2007,  KWAP manages contributions from Malaysian federal government and relevant agencies made into the Retirement Fund to obtain optimum returns on its investments through soundThe fund will be applied towards assisting the Federal Government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the Malaysian federal government for the purpose of pension payment, gratuity, or other benefits.500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs"}, {"url": "https://technode.global/2023/09/21/malaysia-government-to-organize-a-startup-convention-in-the-near-future-report/", "page": 17, "title": "Malaysia government to organize a startup convention in the near future \u2013 report", "contents": "The Malaysia government will organize a startup convention in the near future, among other things, to produce more local technopreneurs, the senate (Dewan Negara) was told on Wednesday. Economy Minister Rafizi Ramli said that the development of startup companies is a prerequisite for accelerating the country\u2019s economic transition towards technology and digital-based industries, national news agency He said the government would also ensure that the venture capital ecosystem continues to be strengthened to expedite the formation of technology-based startups. \u201cThis includes special initiatives to gather funding from government-linked companies (GLCs). Furthermore, emphasis will also be given to investors and early-stage startups to empower more local talents as technology creators and developers,\u201d he said when tabling the motion on the 12th Malaysia Plan Mid-Term Review. It was reported that the government plans to make Kuala Lumpur a regional hub for startup companies and the digital industry to attract investments and digital talents, with the goal of positioning Malaysia among the top 20 countries in the global startup ecosystem by 2030, the report added. Rafizi added that the government had allocated grants totalling MYR266 million ($56.73 million) this year to local startup companies to create more unicorn-level companies. Out of this amount, MYR63.9 million ($13.63 million) has been disbursed to date, he said. Malaysia\u2019s Science & Technology Ministry looks into VCs\u2019 suggestions to support tech startup ecosystem"}, {"url": "https://technode.global/2023/09/20/siemens-and-progressture-solar-team-up-to-drive-malaysias-green-energy-transition/", "page": 17, "title": "Siemens and Progressture Solar team up to drive Malaysia\u2019s green energy transition", "contents": "German multinational technology firm The two companies said in a statement on Tuesday that they have officially inked a Memorandum of Understanding (MoU) to advance converged energy solutions that integrates energy efficiency (EE) and renewable energy (RE). This partnership aims to engage and collaborate with industry players to deliver seamless energy solutions that enable substantial emissions reduction, and aid businesses to adopt sustainable, environmentally conscious business practices. As enablers of industrial decarbonization, Siemens and Progressture Solar are simplifying the adoption of renewable energy and energy efficiency through easy and accessible ownership models. The goal is to expedite Malaysia\u2019s efforts to halve carbon emissions by 2030, as targeted in the New Industrial Master Plan (NIMP) 2030, and to drive towards the National Energy Transition Roadmap (NETR) net-zero aspirations by 2050. At its core, the partnership is built upon a shared vision to significantly reduce energy consumption and grid dependency, delivering tailored energy solutions for both multinational corporations (MNCs) and small and medium enterprises (SMEs) in the industry sector. The partnership will also encompass technical support, resource sharing, and expertise exchange within the solar and energy market landscape between both companies. In the collaboration, Siemens will provide energy audit services, energy efficiency solutions and energy management through digitalization and automation. Progressture will serve as Siemens\u2019 primary solar partner for existing and potential ventures and will begin to offer \u2018bundle-packaged\u2019 array of energy solutions, seamlessly integrating energy efficiency solutions with renewable energy. \u201cWe are keenly aware of the challenges that businesses face when adopting clean energy solutions and energy-efficient technology, and that is why we are committed to present a wide spectrum of accessible and easy ownership models,\u201d said Ng Yew Weng, Co-Founder and Chief Operating Officer of Progressture Solar. From Zero CAPEX and outright purchase options to flexible leasing solutions, he said the firm\u2019s goal is to ensure accessibility for all, regardless of their energy needs or financial constraints. In doing so, he said the firm will help businesses to reduce their energy costs, improve their overall operations and meet their environmental, social, and corporate governance (ESG) commitments. According to the statement, the industrial sector is a major contributor to global carbon emissions. Currently, 78.5 percent of the carbon emissions in Malaysia are still derived from fossil fuels. It is therefore crucial for the industrial sector to urgently reduce its carbon footprint. By providing sustainable energy solutions, the partnership between Progressture Solar and Siemens will be able to provide industry with the right solutions to significantly reduce these emissions and enable companies to meet their sustainability targets. This aligns with Malaysia\u2019s NETR and its goal of achieving a 70 percent renewable energy capacity mix by 2050. \u201cSiemens is committed to transform the industry and infrastructure sector in Malaysia through digitization and automation, \u201cThese are key levers enabling companies to use energy more efficiently, reduce carbon emissions, and therefore foster a more sustainable industry practice,\u201d said Tindaro Danze, President and Chief Executive Officer of Siemens Malaysia. Siemens is a global technology powerhouse with the expertise to combine the real world of automation with the digital world of information technology, to enable clients to accelerate their digital transformation. Progressture Solar is a a clean energy solutions provider and net zero partner in Malaysia, providing comprehensive and accessible renewable energy solutions to commercial and industrial (C&I) clients. The firm provides all-in-one clean energy solution and flexibility in tailoring a solar photovoltaic system to meet the unique needs of their C&I clients. Malaysia\u2019s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program"}, {"url": "https://technode.global/2023/09/20/celcomdigi-and-yinson-seal-partnership-to-elevate-malaysias-emobility-ecosystem/", "page": 17, "title": "CelcomDigi and Yinson seal partnership to elevate Malaysia\u2019s eMobility ecosystem", "contents": "Malaysian mobile service provider The duo said in a statement on Tuesday that hey have sealed a Memorandum of Understanding (MoU) for the deal. The collaboration enables Yinson to leverage CelcomDigi\u2019s widest, fastest 4G LTE and 5G network to power up the connectivity for chargEV, the nation\u2019s largest charge point operator, as well as for rydeEV and drivEV in the eMobility space.  In addition, both companies will work together to explore new, innovative solutions that will allow consumers to stay connected while having easier everyday access to clean, technology-enhanced services including eBikes, electric vehicles, EV charging stations and solar infrastructure integration.  CelcomDigi\u2019s Chief Executive Officer Idham Nawawi said that via its Innovation Center, the company continues to strengthen its commitment as the digital enabler for Malaysians, bringing innovation and IoT solutions beyond telecommunication services to connect lives everywhere and enhance Malaysians\u2019 digital lifestyle.  \u201cThis is a significant milestone in our long-standing partnership with Yinson \u2013 the first time in Malaysia that a telecommunication service provider teams up with a global energy infrastructure and technology company to jointly innovate the way we bring EV services to consumers,\u201d he said. According to him, the automotive industry is undergoing radical transformation, with automakers agreeing that the next five years will bring about more change than the previous three decades, driven by the significant possibilities brought about by electric vehicles in particular, and green technology in general. \u201cWe are excited to work with Yinson to drive green-tech adoption among Malaysian consumers to support the nation\u2019s energy goals as outlined in the New Industrial Master Plan 2030,\u201cWe will explore various opportunities, from enabling connected assets to developing a robust and integrated infrastructure ecosystem. We believe this will be the next future and sustainable movement for Malaysia\u2019s mobility infrastructure and ecosystem,\u201d he said. Yinson\u2019s Group Chief Executive Officer Lim Chern Yuan said that connectivity and innovative technology are the building blocks of the efficient, clean and equitable transportation system of the future. \u201cTo this end, we are pleased to join hands with Malaysia\u2019s largest mobile network operator CelcomDigi, further supported by progressive policies by the Malaysian government,\u201cTogether, we hope to put clean, integrated transportation solutions into the hands of everyday Malaysians, bringing us collectively closer to achieving the nation\u2019s net zero goals,\u201d he said. Listed on Malaysian bourse, Yinson\u2019s activities comprise five business units: Yinson Production, Yinson Renewables,  Yinson GreenTech, Farosson, Regulus Offshore. Yinson GreenTech is a green solutions provider that aims to deliver a clean, integrated and technology enhanced ecosystem across the marine, mobility, energy and digital segments through investments in novel green businesses, research and development (R&D) and strategic partnerships. CelcomDigi is Malaysia\u2019s largest mobile network operator with more than 20.48 million users on its network. Established on December 1, 2022 from the merger of Celcom and Digi, the company aims to serve the growing digital needs of its customers by leveraging its newly combined widest network footprint, distribution touchpoints, innovative range of digital products and services, and superior customer experience powered by over 3,800 top industry experts. Yinson GreenTech inks partnership with Pos Malaysia to launch EV charging stations"}, {"url": "https://technode.global/2023/09/20/malaysian-bourse-inks-mou-with-thai-indonesian-bourses-to-set-up-asean-esg-ecosystem/", "page": 17, "title": "Malaysian bourse inks MOU with Thai, Indonesian bourses to set up Asean ESG ecosystem", "contents": "The The trio said in a statement on Tuesday that this MoU signifies the collective commitment of the three exchanges to explore the establishment of an inter-regional ESG linked ecosystem that drives business value creation whilst fostering sustainable development across ASEAN. The MoU marks a significant milestone in enhancing regional cooperation and advancing sustainability in ASEAN. It also signifies a commitment to greening supply chains, while recognizing the potential to optimize the interconnectedness and comparability of ESG data within the region. By combining expertise and resources, Bursa Malaysia, IDX, and SET aim to collaboratively spur the adoption of good ESG practices and drive responsible growth in their respective markets, while offering cross-border opportunities related to ESG investments across the three markets. According to the statement, the collaboration aims to identify commonalities within the ASEAN ESG ecosystem to facilitate cross-border trade, broaden business opportunities, and advance sustainable financing for corporations of all sizes and their supply chains in the region. The three exchanges will explore a range of initiatives, including but not limited to identifying critical components of the ESG infrastructure to support companies in pursuing decarbonization and sustainability across their supply chains, and establishing a \u201csandbox\u201d environment designed to facilitate trade and create new business opportunities for corporations and their supply chains, including small and medium enterprises. They will also leverage expertise in ESG practices via workshops, training sessions, and knowledge-sharing programs to support enhancing the ESG ecosystem. \u201cThrough this partnership, we aim to enhance cross-border cooperation and seize opportunities to harmonize ESG measures and ESG infrastructure that promotes sustainable business practices in ASEAN, \u201cThis MoU establishes the groundwork for similar collaborations with other interested exchanges in Asia and lays a solid foundation for engaging partners from the Global North as well,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. Meanwhile, IDX President Director Iman Rachman said that this MoU reflects the trio shared vision of creating a sustainable future for their capital markets. \u201cWe believe that collaboration is a key in driving positive change in the region, \u201cWe look forward to work closely with Bursa Malaysia and SET in developing innovative solutions that benefit our stakeholders, and contribute to the development of resilient and responsible companies,\u201d he said. SET President Pakorn Peetathawatchai also said that SET is committed to promoting ESG practices in the Thai capital market. \u201cThis collaboration with Bursa Malaysia and IDX allows us to cocreate an interconnected ESG ecosystem, supports an integration of ASEAN markets as an asset class to attract international investors, as well as provides opportunities for knowledge-sharing, enabling us to leverage each other\u2019s strengths to create a more sustainable future for our markets,\u201d he said.   The signing of this MoU builds on the recent commitment among ASEAN Exchanges to standardize ten governance metrics for each ASEAN stock exchange to apply as guiding disclosure principles among respective listed companies. Bursa Malaysia and RAM collaborate on a new debt fundraising platform"}, {"url": "https://technode.global/2023/09/19/malaysias-ram-partners-mvgx-tech-crm-to-expand-esg-analytics-capabilities/", "page": 17, "title": "Malaysia\u2019s RAM partners MVGX Tech, CRM to expand ESG analytics capabilities", "contents": "Malaysian credit rating agency In the collaboration, RAM will incorporate MVGX\u2019s decarbonization rating system into its sustainability services offerings, with customizations to suit local needs, the trio said in a statement on Tuesday. According to the statement, CRM and RAM will also jointly work together for the marketing and support for users of the solution. The new decarbonization rating solution from RAM, to be deployed online, will enable companies to measure their carbon emissions for Scope 1, 2 and 3, as well as effectively strategize their decarbonization journey. RAM\u2019s decarbonization rating system leverages a proprietary methodology developed by MVGX, in consultation with T\u00dcV S\u00dcD, an ISO certification body. Companies will be objectively rated based on emission measurements in addition to other dimensions and are given a ranking along with a detailed rating report, which is then verified by T\u00dcV S\u00dcD.  MVGX\u2019s decarbonization rating system give businesses the assurances that their disclosures are of ISO quality and certified by globally-recognized sustainability standards providers such as the British Standards Institution (BSI) and T\u00dcV-S\u00dcD. The decarbonization rating system is a core component of MVGX\u2019s Carbon Connect Suite, a holistic, end-to-end suite of products and services that are designed to guide corporations and institutions in their decarbonization journeys. The Carbon Connect Suite is based on a comprehensive framework anchored in the principles of define, measure, mitigate, offset, certify, and finance. \u201cAsia has huge potential for low carbon investments and energy transition opportunities, \u201cSoutheast Asia\u2019s green future economy requires $2 trillion in new investments by 2030 and potentially create 5 million new jobs,\u201d said Chris W. K. Lee, Group Chief Executive Officer and Executive Director of RAM Holdings Bhd.      According to him, current reports however suggest that 2050 net-zero carbon emission targets risk being delayed. While many large and listed corporations have begun reporting and addressing their emissions, he said many companies are still struggling to start their decarbonization journeys, hampered by a lack of knowledge, financial means, or tools. \u201cOur collaboration with CRM and MVGX aims to bridge these gaps by providing a world-class, proven and affordable solution for companies to measure and track their emissions and in doing so, facilitate their low carbon journey, \u201cWe hope with this solution and our other sustainability services, RAM is able to support the realisation of Malaysia\u2019s moonshot aspirations and net-zero goal by 2050\u201d, he added. Meanwhile, MVGX Executive Chairman Bo Bai said that its partnership with RAM and CRM is a step in the right direction for local enterprises and they are thrilled to be supporting them with the much-needed tools and advisory as they embark on their decarbonization journeys. According to him, this is especially critical for businesses amid the government\u2019s concerted push for sustainability under the MADANI Economic Roadmap, crystallized in various masterplans such as the new Industrial Master Plan 2030 and the National Energy Transition Roadmap. \u201cSustainability is now increasingly a necessity, rather than a nice-to-have, \u201cThis has led us to choose to partner with RAM, which has under its umbrella, the leading accredited rating agency and a strong proponent of sustainability anchored by deep analytical capabilities,\u201d he added. CRM Executive Chairman Nor Azamin Salleh also opined that this partnership opens up possibilities for Malaysian companies to look into embarking into their decarbonization journey and to address the issue of their carbon footprint in a more accurate and affordable manner. \u201cAs we strive to harmonize economic growth with environmental stewardship, it becomes imperative to address the carbon emissions conundrum, \u201cA uniformed and regulated carbon ratings system can serve as the cornerstone of Malaysia\u2019s decarbonization efforts, fostering transparency, accountability, and a resilient green economy,\u201d he said. RAM and its group of companies is a provider of independent credit ratings, sustainability and ESG analytics, macroeconomic and fixed income research, risk analytics and consulting, as well as bond pricing and information services. With a deep databank and analytical resources, the firm delivers precise analysis and credible insights that help investors and market participants make better decisions. MVGX is a carbon Software-as-a-Service (SaaS) company that has developed carbon solutions that empower corporations, governments, and institutions to take action at every stage of their decarbonization journey. Consolidated under the Carbon Connect Suite, MVGX Tech\u2019s products, services, and software focus on carbon measurement, reporting, and verification as well as decarbonization rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading. CRM is an advisory firm that specializes in curating and developing innovative environmental technology and solutions to clients. With a focus on carbon solutions and ESG related topics, CRM provides its customers with bespoke solutions that add innovation and value by partnering with technology partners and solution providers. IDX partners MVGX to develop Indonesia\u2019s carbon exchange system"}, {"url": "https://technode.global/2023/09/18/sunview-partners-uob-malaysia-to-help-businesses-and-consumers-adopt-renewable-energy/", "page": 17, "title": "Sunview partners UOB Malaysia to help Malaysian businesses and consumers adopt renewable energy", "contents": "Malaysian sustainable energy solutions provider Sunview said in a statement on Monday that its wholly-owned subsidiary Fabulous Sunview Sdn Bhd has signed the agreement with UOB Malaysia for the partnership. According to the statement, Sunview, who is a prominent renewable energy player involved in the engineering, procurement, construction and commissioning (EPCC) and other related activities, now joins the bank\u2019s U-Solar program as its tenth engineering, procurement, construction and commissioning (EPCC) partner.  Under the agreement, Sunview will provide services in the development, planning, procurement, as well as construction and maintenance of solar photovoltaic (PV) system for commercial, industrial, residential and large scale solar (LSS) projects. UOB Malaysia will in turn provide Sunview with financing to complete the projects, as well supply chain support including access to U-Solar\u2019s ecosystem of equipment suppliers. In addition, Sunview\u2019s customers will also be able to obtain end user financing options when acquiring Sunview\u2019s products and/or services.  \u201cWe are delighted to join UOB Malaysia\u2019s U-Solar programme as its tenth EPCC partner,\u201cThis strategic partnership serves as a testament to our established track record and promising growth prospect,\u201d Sunview Executive Director and Chief Executive Officer HP Ong said. He is confident that the partnership will enhance the firm\u2019s financial capacity for its operations activities and market expansions. \u201cMoreover, it benefits our customers by providing end-user financing options,\u201d he said. Given the recent surge in activities in the solar industry due to newly introduced schemes and policies, he is optimistic that this partnership will strategically position us to seize the upcoming opportunities. \u201cThus, we look forward to a fruitful collaboration with UOB, leveraging on these facilities to further reinforce our position within the solar industry,\u201d he added.  It is noted that Sunview began its banking relationship with UOB Malaysia when the group secured financing to complete two solar PV development projects under the government\u2019s LSS contracts in Pendang,  Kedah and Kuala Langat, Selangor, respectively. By becoming part of U-Solar ecosystem partners, the group will now enjoy better payment terms when they purchase from the U-Solar\u2019s approved equipment suppliers apart from green financing for a smoother financial supply chain management.   \u201cWe are pleased to expand our relationship with Sunview, now it has become U-Solar\u2019s 10th EPCC partner. We expanded U-Solar to address cash flow issues and working capital gaps for developers and contractors who typically have longer projects receivable terms and may face short payment terms from equipment suppliers,\u201cSunview will now be able to finance the purchase of equipment and work on multiple solar projects simultaneously, and speeding up the rate of solar adoption for the country to reach its net zero ambitions,\u201d UOB Malaysia Managing Director and Country Head of Commercial Banking Beh Wee Khee said. Sunview through its subsidiaries is principally involved in the EPCC of PV facilities. The facilities are for large scale solar projects, industrial, commercial, and residential buildings, solar PV and installation services, solar power generation and supply as well as associated products and services to complement the group\u2019s core services. Sunview is registered under Sustainable Energy Development Authority Malaysia as a solar service provider and solar PV investor, certified contractor of Tenaga Nasional Berhad, electrical contractor and energy service company under Suruhanjaya Tenaga and a G7 contractor of the Industry Development Board.  Malaysia\u2019s Sunway accelerates net zero ambitions with Cambridge-based Deeptech Labs"}, {"url": "https://technode.global/2023/09/18/myeg-partners-beitou-it-innovation-to-spearhead-international-digital-identity-credentials-service-on-zetrix-blockchain/", "page": 17, "title": "MYEG partners Beitou IT Innovation to spearhead international digital identity credentials service on Zetrix blockchain", "contents": "Malaysia\u2019s e-government services provider MYEG said in a statement on Monday that this collaboration promises to innovate the digital landscape by harnessing the cross-border connectivity of the Zetrix blockchain. The mission revolutionizing cross-border credential verification and paving the way for the digitalization of critical documents, including government-issued identity credentials. At the China-ASEAN Expo held September 16-20 2023 in Nanning, MYEG and Beitou IT Innovation unveiled a decentralized application designed to issue digital driving licenses as verifiable credentials. Initially, this groundbreaking innovation targets Chinese nationals, heralding a giant leap forward in the arena of digital identity verification. This application allows holders of Chinese-issued driving licenses to seamlessly apply online for a digitalized version of their credentials. These digital documents are securely stored as Verified Credentials on the Zetrix blockchain. Hence, individuals can now use their credentials on a globally, wielding them not just as proof of driving prowess but as potent tools to confirm their identities. \u201cThe collaboration with MYEG is a key step of our ASEAN business development. The digital cross-border credential verification platform based on the international blockchain infrastructure is a very meaningful attempt for both MYEG and Beitou IT Innovation\u2019s professional digital teams, \u201cBy leveraging the features of blockchain such as immutability and data security, this platform is able to provide the convenience to the cross-border communications of China-ASEAN people under the premise of legal compliance,\u201d said Shuiping Lai, Chairman of Beitou IT Innovation. Meanwhile, Zetrix Founder and MYEG Group Managing Director TS Wong said that the firm continues to build real-world Web3 applications leveraging on its unique functionality of ensuring the authenticity of digitised documents, including identity credentials and trade documents.  He said such applications will be the driver to bring 1 billion users to Web3. According to the statement, the digitalization of driving licenses on the blockchain empowers authorized third parties to instantly verify the authenticity of these credentials from anywhere. Thanks to blockchain\u2019s immutability and fraud-proof attributes, digital credentials surpass their physical counterparts in terms of trustworthiness, being genuinely verifiable in real-time. It is also noted that such trustworthiness is crucial, especially for documents like driving licenses, which often serve as secondary forms of identity verification and are integral to Know Your Customer (KYC) processes worldwide. Beyond driving licenses, the partnership between MYEG and Beitou IT Innovation has its sights set on the transformative digitalization and verification of all manner of documents currently residing only in physical form. This initiative places a premium on authenticity and precision, offering a much-needed solution to streamline customer onboarding, transactions, and service deliveries through digitalization, all without compromising on the highest standards of safety and security. Furthermore, it plays a pivotal role in eradicating document fraud and falsification. This groundbreaking alliance capitalizes on the cross-border prowess of Zetrix, a Layer-1 blockchain developed by MYEG. Zetrix also hosts the international supernode of China\u2019s national Xinghuo Blockchain Infrastructure and Facility, a combination that facilitates seamless cross-border issuance and verification of Verifiable Credentials on both Zetrix and Xinghuo. Beitou IT Innovation, a wholly-owned subsidiary of Guangxi Beibu Gulf Investment Group Co. , Ltd. , a prestigious top 500 Chinese enterprise, is at the vanguard of digital industry development. The company holds the coveted title of a national scientific and technological innovation demonstration enterprise and oversees the operations of the China-ASEAN Information Port Beitou Digital Technology Park. This groundbreaking initiative reinforces MYEG\u2019s role as a trailblazer in the digitalization of cross-border economic and trade processes, particularly between China and the global community. In March, MYEG inked a pivotal agreement with East Logistic-Link Co. , Ltd. , a wholly-owned agency of the General Administration of Customs of the People\u2019s Republic of China (GACC). Together, they\u2019ve embarked on a mission to provide a comprehensive suite of cross-border trade facilitation services, including certificates of origin, all within the Zetrix ecosystem. Known as ZTrade, this service is already making waves in Malaysia and the Philippines, with ambitious plans to expand across ASEAN and the Regional Comprehensive Economic Partnership region. Malaysia\u2019s MYEG seals deal to deploy blockchain-based customs clearance between the Philippines and China"}, {"url": "https://technode.global/2023/09/18/airasia-digital-rebrands-as-next-move-with-new-leadership/", "page": 17, "title": "Airasia Digital rebrands as next MOVE with new leadership", "contents": "In a strategic move to emphasize its commitment towards travel, the digital arm of Capital A, This rebranding marks an exciting chapter in its next phase of growth through both its businesses, airasia Superapp and BigPay, airasia Digital said in a statement on Monday. According to the statement, MOVE\u2019s travel platform business, airasia Superapp will also undergo a brand refresh and change its name to \u2018airasia move\u2019 in the near future as part of the ongoing transformation. The Co-Founder of AirAsia and Chief Executive Officer of Capital A Tony Fernandes will also assume the role of Executive Chairman of MOVE. He will play a pivotal role in driving the close collaboration between both airasia Superapp (now airasia move) and BigPay to unlock the true potential and synergy of these digital businesses.  \u201cThe name MOVE signifies us better as the digital arm of Capital A, and reiterates our commitment to move people, ideas and innovation forward within the travel space,\u201cImagine seamless access to travel and financial services on one single platform, with integrated financial features such as balance display, top-up and payments from BigPay and further strengthening the value proposition of airasia move as the travel app of choice,\u201d said Tony Fernandes, Executive Chairman of MOVE. According to him, his role as the Executive Chairman of MOVE will be to enhance synergy between both businesses. With this change, he said the market can expect an enriching user experience aside from more integration of BigPay features within the airasia Superapp (now airasia move) very soon. In this new era of travel innovation for MOVE, he has also welcomed Nadia Omer into the organization as the new Chief Executive Officer of airasia move effective October 26. According to him, her key priority will be to further drive airasia move\u2019s vision as a low-cost travel platform with high conversion, while closely collaborating with BigPay, led by Zubin Rada Krishnan. Meanwhile, Mohamad Hafidz, who is currently the acting Chief Executive Officer, will continue leading the business in the interim. It is noted that the airasia Superapp, or what will be called airasia move soon, has swiftly become a one-stop travel platform offering value and convenience through seamless end-to-end booking experiences within the past two years, while BigPay has established itself as an innovative fintech provider enabling Southeast Asians to improve their lives through better financial management. Both of Capital A\u2019s digital businesses have been making significant strides, with airasia Superapp (now airasia move) reaching its highest recorded MAU (monthly active users) of 15 million at the end of the second quarter, while BigPay saw its carded users grow by 16 percent year on year for the same period. MOVE Digital Sdn Bhd (formerly known as airasia Digital Sdn Bhd) is the digital arm of Capital A Berhad, and encompasses two transformative businesses: airasia Superapp (now airasia move) and BigPay. MOVE is dedicated to revolutionizing the travel and financial services sectors by offering innovative, user-centric solutions at the best value. Malaysia\u2019s airasia Superapp 2Q average monthly active users up 40 percent on year to 15M"}, {"url": "https://technode.global/2023/09/18/malaysia-plans-to-establish-its-own-space-launch-site-develop-space-economy-report/", "page": 18, "title": "Malaysia plans to establish its own space launch site, develop space economy \u2013 report", "contents": "The Science, Technology and Innovation Ministry (MOSTI), through its agency Malaysian Space Agency (MYSA), is studying the feasibility of establishing a space launching facility in the country, local media Science, Technology and Innovation Minister Chang Lih Kang said Malaysia had significant potential to establish its own space launching facility, as it hopes to create new economic opportunities. \u201cIf this becomes a reality, the facility would become the 16th in the world, making Malaysia just the ninth country to possess such a facility. Malaysia\u2019s unique geographical position being located near the equator gives us an advantage in developing the space launching facility, with far more competitive operating costs,\u201d he was quoted as saying in a statement. Chang also said that MYSA is liaising with several parties and industries that are keen on participating in the development of this facility. He added that the government\u2019s involvement in this venture could lead to the creation of 500 space-related tech start-ups, 5,000 job opportunities and MYR10 billion ($2.13 billion) in value to the nation\u2019s \u201cspace economy\u201d by 2030. According to Chang, his ministry is in the process of formulating a national remote sensing satellite program through public-private partnership which is expected to commence in 2026. Malaysia\u2019s Science & Technology Ministry looks into VCs\u2019 suggestions to support tech startup ecosystem"}, {"url": "https://technode.global/2023/09/15/malaysias-gentari-rebrands-wirsol-energy-to-officially-commence-operations-in-australia/", "page": 18, "title": "Malaysia\u2019s Gentari rebrands WIRSOL Energy to officially commence operations in Australia", "contents": "Malaysia-based clean energy solutions company With the rebranding, WIRSOL Energy will now be known as Gentari Solar Australia, Gentari said in a statement. According to the statement, this firmly establishes and anchors Gentari as a leading developer with integrated solar and battery energy storage system (BESS) and asset management capability in the Australian renewable energy market. It is noted that Gentari Solar Australia currently has 422 MW in gross installed capacity and 765 MW in potential capacity within its late-stage project pipeline. Andrew Barson leads as its Chief Executive Officer with a mandate to grow the company\u2019s solar capacity and BESS capability in the country. Among the projects that Barson is overseeing are the Maryvale Solar and Energy Storage Project in New South Wales and the Barnawartha Solar and Energy Storage Project in Victoria, both expected to reach FID soon with a combined capacity of over 500 MW. \u201cGentari Solar Australia will be key in achieving our ambition to accelerate clean energy adoption,\u201d said Low Kian Min, Gentari\u2019s Chief Renewables Officer. In the immediate term, he said the firm will leverage its Australian assets as a building block to drive growth in utility-scale solar capacity and battery storage capability, towards increasing the share of renewables in Australia\u2019s power generation mix. Looking further ahead, he said Gentari will also explore other clean energy technologies including wind power in Australia. According to the statement, Gentari\u2019s current operations in Australia adds 422 MW of gross installed capacity to the company\u2019s overall renewable energy portfolio, joining over 1 GW of capacity in Malaysia and India. In the longer term, Gentari\u2019s planned growth in Australia, targeted to contribute more than 5 GW towards achieving its 2030 ambition of 30 to 40 GW globally, will be driven primarily by solar and wind operational assets. \u201cIn light of Australia\u2019s market maturity and strong potential, coupled with an open access grid that offers opportunities for diversification, underpinned by supportive government policies and a robust financing ecosystem, we are looking at optimizing our solar energy resources while exploring wind generation and other technologies to supply green energy for hydrogen production in the future, \u201cBeyond this, we are also interested in developing commercial capabilities and are monitoring opportunities in green mobility in the country,\u201d said Low. Gentari currently has a diverse talent pool in Australia, recognizing the need for broad capabilities in the clean energy space. \u201cWe are excited to be part of Gentari\u2019s future in Australia. In line with Gentari\u2019s business growth in the country and rapidly expanding regional presence, we are set to add new employment opportunities across the renewable energy value chain,\u201d said Barson. It is noted that in Australia, the national electricity market is transitioning away from coal-fired generation, which currently comprises 66 percent of generation, as existing power stations reach end-of-life. The Federal Government has set a Large-scale Renewable Energy Target (LRET) to promote renewable electricity generation, aiming to have 82 percent of the nation\u2019s electricity generated by renewables by 2030 as part of an economy-wide target of cutting emissions by 43 per cent by 2030, based on 2005 levels. Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth"}, {"url": "https://technode.global/2023/09/14/petronas-gentari-amazon-and-aws-team-up-to-accelerate-clean-energy-growth/", "page": 18, "title": "Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth", "contents": "Malaysia\u2019s state-owned oil and gas firm This aligns with Petronas\u2019 commitment to deliver affordable, low-carbon energy solutions while concurrently reducing the emissions intensity of its operations, Gentari said in a statement. Leveraging Gentari\u2019s expertise in clean energy solutions, the move also supports Amazon\u2019s commitment to achieve net-zero carbon emissions by 2040. According to the statement, the collaboration between the parties reflects a comprehensive approach towards sustainability, technological advancement, and socio-economic progress, which will involve exploring potentials in the following areas:1. Gentari will support the decarbonisation of Amazon\u2019s India transportation network by working with third party delivery service partners to further electrify their transport vehicles. Amazon has committed to deploying 10,000 electric vehicles (EVs) in its India delivery fleet by 2025, and the collaboration will also involve Gentari providing electric vehicles and accompanying fleet management services for Amazon\u2019s third-party delivery service partners.2. Petronas and AWS will explore designing and constructing a state of-the-art plant of the future that incorporates cutting-edge technology, robotics, and automation solutions similar to those used in Amazon warehouses and facilities. This is to scale existing research and development efforts by Petronas for the potential production of microalgae oil as feedstock for sustainable aviation fuel.3. Amazon intends to evaluate Petronas\u2019 low-carbon and alternative fuel solutions for potential integration in diverse areas such as mobility, stationary power applications, and carbon management.4. Petronas will continue leveraging AWS cloud technology to enhance and expand its existing and new solutions. These include SETEL, Malaysia\u2019s e-wallet for purchasing fuel at Petronas stations, and STEAR, a cloud-based logistics solution and services platform built on AWS for the offshore industry.5. AWS will continue to upskill technical and non-technical employees at PETRONAS and strengthen their digital literacy through AWS Training & Certification programs. This is in line with AWS\u2019 broader commitment to help develop a digitally trained workforce to power Malaysia\u2019s digital economy. Petronas Senior Vice President of Project Delivery and Technology Bacho Pilong said that the firm believes that collaborations such as this, which builds on our long-standing relationship with Amazon and AWS and the expertise of Gentari in clean energy solutions, are vital to support Asia\u2019s and the world\u2019s transition towards cleaner energy. \u201cWe invite like-minded partners to join forces in strengthening a sprawling innovation ecosystem that can address the many challenges along our journey to actualize a sustainable future together,\u201d he said. Meanwhile, Gentari Chief Executive Officer Sushil Purohit said that this collaboration between Gentari, Petronas, Amazon and AWS marks a pivotal moment as they strive to be at the forefront of energy transition, driving change to create a cleaner, more sustainable future. \u201cIn line with our aim of becoming a valued clean energy solutions partner via our comprehensive offerings in renewable energy, hydrogen, and green mobility, Gentari is excited to support Amazon\u2019s responsible approach in decarbonising their operations and helping them achieve their net zero aspirations,\u201d he said. AWS ASEAN\u2019s Managing Director Conor McNamara, on the other hand, said that achieving a net zero future requires immediate and wide-ranging innovation across all industries, including the energy sector. \u201cWe are deepening our collaboration with PETRONAS and Gentari to support our shared goals of building a more sustainable world through nurturing expertise and technology, \u201cTogether with PETRONAS and Gentari, and with our upcoming AWS Region in Malaysia, we look forward to supporting businesses and communities to advance their climate and digitalization ambitions with the latest cloud technology and talent development,\u201d he said. Gentari partners BMW Group Malaysia for green mobility and renewable energy "}, {"url": "https://technode.global/2023/09/13/vietnams-ev-maker-vinfast-plans-asia-expansion-plans-to-build-plant-in-indonesia-in-2026/", "page": 18, "title": "Vietnam\u2019s EV maker VinFast plans Asia expansion; to build plant in Indonesia in 2026", "contents": "Vietnam-headquartered electric vehicle manufacturer VinFast, formed and almost entirely controlled by Vietnam richest man Pham Nhat Vuong, also plans to invest around $1.2 billion in the Indonesian market in the long-term, according to its filing to the to US Securities and Exchange Commission dated Sep 12. Pham is also the Founder of VinFast\u2019s parent company Vingroup. \u201cWe plan to commence deliveries of our EVs in Indonesia in 2024 with right-hand driving models of the VF e34 and VF 5, with the VF 6 and VF 7 to follow. We have also identified Indonesia from among our seven new market clusters as a key potential market for the potential establishment of manufacturing facilities for our EVs and batteries due to the relatively low cost and availability of domestic raw materials,\u201d VinFast wrote in its filing. \u201cBased on our evaluation of the market opportunity in Indonesia, we have set a preliminary investment target of up to approximately $1.2 billion into Indonesia in the long-term. The target includes approximately $150 to $200 million that we envision applying toward the establishment of a Completely Knocked Down (CKD) facility, with production capacity in the range of 30,000 and 50,000 cars per year and a target production start date in 2026. Additional investments in the country up to the preliminary investment target would be subject to market conditions and other factors,\u201d the company added. The Indonesian facility will be VinFast\u2019s third besides its main one in northern Vietnamese city of Haiphong, and a new plant in North Carolina, slated to start in 2025. VinFast earlier said it plans to also build a plant in Europe. Indonesia, Southeast Asia\u2019s largest economy, has a population of 270 million people. The country has been trying to attract global EV makers including Tesla and China-based BYD, among others. Many sees the country\u2019s abundant supplies of nickel, a key component of EV batteries, as a main factor to attract EV makers from overseas. The EV maker also said in its filing that it plans to create a presence in India, Malaysia, the Middle East, Africa and Latin America, and expand its presence in Europe, as it identified between 40 and 50 potential markets. VinFast aims to set up its own distributors and may open showrooms in those locations, the filing showed. Last month, the startup achieved a Nasdaq listing that valued the loss-making startup at more than $85 billion, higher on its listing day than Ford, VinFast is entering the American market at a time when EV pricing is under pressure, led by market leader Tesla and a range of Chinese companies. Since its establishment in 2017, VinFast has announced numerous ambitious EV growth plans overseas. Last year\u201cI think Southeast Asia is pretty fragmented. You need to look at the different markets differently because [there\u2019s] left-hand drive, right-hand drive, the economy and everything is different,\u201d said Thuy, who is also Vice Chairwoman of VinFast\u2019s parent company, Vingroup. \u201cYou cannot generalize Southeast Asia [as a whole]. \u201dVietnam\u2019s VinFast to focus on US, European EV markets before expanding in Southeast Asia"}, {"url": "https://technode.global/2023/09/13/cradle-fund-bursa-malaysia-collaborate-to-facilitate-listing-of-local-startups-on-malaysia-stock-exchange/", "page": 18, "title": "Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange", "contents": "Minister of Science, Technology and Innovation Chang Lih Kang has on Thursday (Sep 7) witnessed the exchange of Memorandum of Collaboration (MoC) between Malaysia\u2019s early-stage startup agency The exchange of MoC was symbolised between Cradle Acting Group Chief Executive Officer, Norman Matthieu Vanhaecke and Bursa Malaysia Director of Corporate Strategy, Aina Zahari. The MoC aims at building awareness among startups on funding opportunities available in Malaysia, including those offered by the equity market. Additionally, it seeks to facilitate early identification of companies with the potential for listing on Bursa Malaysia. This collaboration is an integral part of the Ministry Science, Technology and Innovation\u2019s (MOSTI) Fund Funnel program, an initiative designed to streamline funding options and offer comprehensive support to startups throughout their funding journey, from the seed stage to the initial public offering (IPO), according to a statement released by the ministry. The implementation of the Fund Funnel program is also aligned to Intervention Two as outlined in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021- 2030, which emphasises the importance of restructuring the local investment ecosystem in order to enhance efficiency and attract high-quality investments while facilitating access to funding for startups. Highlighting the significance of the collaboration, Chang said \u201cThe Fund Funnel addresses the concerns raised by startups regarding the lack of information about government funding opportunities, at the same time, providing clear and concise details about the funding agencies and the specific stages at which they offer financial support. \u201cAs we introduce the Fund Funnel program, Malaysia embarks on a transformative journey to fulfil the aspirations outlined in the Malaysia Startup Ecosystem Roadmap. The Fund Funnel program also signifies the Government\u2019s commitment to nurturing startups by providing them with vital access to funding at every stage of their journey, in line with Malaysia MADANI\u2019s aspiration, to build an innovative and high-tech nation,\u201d he said. Acting Group Chief Executive Officer Cradle Norman Matthieu Vanhaecke said the collaboration between Cradle and Bursa Malaysia signifies an ongoing commitment to engage with ecosystem players, fostering transparency in Bursa Malaysia\u2019s listing requirements. \u201cThrough this collaboration, we hope to empower startups to develop their comprehensive strategies, ultimately paving the way for a successful listing on the exchange while bridging critical funding gaps within the ecosystem. By strategically aligning resources, expertise and collaboration, we create an enabling environment where startups can thrive, revolutionise industries and drive economic growth,\u201d he added. Under this partnership, Cradle will provide market intelligence of the local startup ecosystem to assist Bursa Malaysia in identifying potential listing candidates. With 20 years of experience in the startup ecosystem, Cradle has engaged with companies across all stages of development and funding, supporting over 1,000 Malaysian technology-based firms and boosting the highest commercialization rate among funding agencies in Malaysia. Bursa Malaysia, for its part, will analyse the data shared by Cradle and work with them to organise programs that focus on funding access. Bursa Malaysia will support Cradle in terms of knowledge sharing and help startups gain a better understanding of how the equity market can contribute to their growth. This is a crucial objective to assist such businesses in planning their future growth and identifying the necessary funding to support their journey from the early stages to eventually becoming a public listed company, the ministry added. Bursa Malaysia Chairman Abdul Wahid Omar said, \u201cThis collaboration reflects the Exchange\u2019s intent to assist Cradle in building a thriving startup ecosystem by addressing a pain point commonly faced by local startups, namely in access to funding opportunities. Together with Cradle, we are committed to alleviate this challenge and facilitate Malaysia startups in their funding journey with the goal of accelerating their growth, and enabling them to list right here within their home country. \u201d\u201cWe firmly believe that the outcome of this collaboration will yield positive impact, benefiting the startups, our capital market and the broader Malaysian economy,\u201d added Wahid. Feature photo credit: Cradle FundMalaysia\u2019s Science & Technology Ministry looks into VCs\u2019 suggestions to support tech startup ecosystem"}, {"url": "https://technode.global/2023/09/13/malaysias-unicorn-carsome-open-to-new-funding-open-to-dual-listing-report/", "page": 18, "title": "Malaysia\u2019s unicorn Carsome open to new funding, open to dual-listing \u2013 report", "contents": "Southeast Asia\u2019s largest car e-commerce platform Cheng said the company is looking for strategic investors whose \u201cbusinesses are able to add value to what we are doing, be it on car trading, financing or insurance. \u201d Last year, Carsome has won one of Malaysia\u2019s first batch of digital bank licenses, as part of the consortium led by KAF Investment Bank. Cheng earlier told Carsome is ready for an initial public offering (IPO) but is in no rush to list, Cheng said. \u201cWe haven\u2019t really set a right timeline or window,\u201d he told \u201cWe need exchanges that appreciate the business that we\u2019re building,\u201d he was quoted as saying. \u201cWe need that exchange to be able to also provide enough liquidity. \u201dCarsome was valued at $1.7 billion in its fund-raising round early last year, when it completed its $290 million Series E round. The financing round then was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. The Malaysia-headquartered unicorn has hit operational profitability in the first quarter of this year and is expected to achieve its first group-wide profit or break-even before year-end, Cheng reportedly said. Carsome has become Malaysia\u2019s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia in July 2021. Founded in 2015, Carsome has expanded into Indonesia, Thailand, Singapore and recently in the Philippines. It works with 20,000 dealers and has an average of 15 million monthly visitors across its platforms, according to its website. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia\u2019s OLX Auto and Carousell Auto Group. Carsome is said to be delaying its dual listing plans in Singapore and the US on concerns that deteriorating macroeconomic conditions could dent its valuation, Breakeven is near for Malaysian unicorn Carsome, says CEO Eric Cheng"}, {"url": "https://technode.global/2023/09/12/hsbc-malaysia-launches-106-92m-new-economy-fund-providing-lending-to-tech-led-businesses-startups/", "page": 18, "title": "HSBC Malaysia launches $106.92M New Economy Fund, providing lending to tech-led businesses & startups", "contents": "HSBC Malaysia The fund was announced at the bank\u2019s second event focused on developing the startup ecosystem in Malaysia titled, \u201cAccelerating sustainability through the Digital Economy \u2013 shaping a long-term future\u201d. According to a statement, the fund will primarily support lending to tech-led businesses and emerging startups from Series B stage and beyond who are tapping opportunities within Malaysia\u2019s growing digital economy. HSBC will continue to offer working capital, treasury management and payments and cash management solutions to meet the needs of these businesses at different stages of their lifecycle. Omar Siddiq, Chief Executive Officer, HSBC Malaysia said, \u201cMalaysia is putting itself at the forefront of ASEAN\u2019s thriving startup ecosystem with an emphasis on developing the country as a hub for high-performing businesses in the region. We are positive on the new economy in South and Southeast Asia and as a Group we are doubling down on our support for new economy players. We have invested $2 billion globally into Commercial Banking to improve our digital capabilities and to develop more solutions to support our clients. \u201d\u201cWe fully expect new economy businesses to play a more significant role in driving Malaysia\u2019s economic growth and prosperity over the coming years. The \u2018HSBC New Economy Fund\u2019, which is a first of its kind in Malaysia, is focused on providing these high-growth, innovative companies with access to funding solutions so that they can continue the next stage of their growth\u201d. The development of Malaysia\u2019s startup ecosystem is one of the country\u2019s long-term objectives. The various government initiatives laid out as part of the Madani Framework, the New Industrial Master Plan 2030 and the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, are a testament to the commitment to bolster the development of startups in the country and places an emphasis on making Malaysia a digitally vibrant nation. This includes providing enhanced funding, digitalisation grants and capacity building programs that will be crucial to elevating the position of Malaysian startups on the global stage. Karel Doshi, Head of Commercial Banking, HSBC Malaysia added, \u201cA key ingredient for tech led businesses and emerging Malaysian startups to scale is the investment to grow. Beyond the incentives provided by the government, for startups to expand and succeed it is crucial to connect them to other parts of the world as well as bring other parts of the world to them \u2013 we know Asia very well and have been here for over 150 years\u201d. \u201cThe \u2018HSBC New Economy Fund\u2019 demonstrates HSBC\u2019s support for the innovation economy in Malaysia and beyond. In addition to being a trusted advisor towards tech led businesses and emerging startups, we have an unrivalled international network and a specially trained team to deal with startups \u2013 this places the Bank in a strong position to support emerging entrepreneurs of today who will spur the next generation of tech innovation companies that will be crucial to the development of the new economy landscape in Malaysia. We are also consistently looking for ways to collaborate with government agencies and ecosystem players to support Malaysia\u2019s new economy ecosystem,\u201d added Karel. HSBC, GOBI Partners join hands to support innovative businesses between Hong Kong and ASEAN"}, {"url": "https://technode.global/2023/09/11/matrade-mdec-ink-mou-to-enhance-malaysian-tech-companies-global-footprint/", "page": 18, "title": "MATRADE, MDEC ink MoU to enhance Malaysian tech companies\u2019 global footprint", "contents": "Malaysia External Trade Development Corporation (MATRADE)The MoU aims to better facilitate the current and export ready Malaysian tech companies in strengthening their global footprint through more concerted and collaborative trade promotion initiatives, the agencies said in a joint statement on Monday. The MoU was signed by Mohd Mustafa Abdul, CEO of MATRADE and Ts. Mahadhir Aziz, CEO of MDEC. MATRADE\u2019s Senior Board member, Hazimah Zainuddin witnessed the MOU Exchange Ceremony, which took place at the side-line of MATRADE\u2019s International Sourcing Programme (INSP) held in conjunction with Malaysia International Halal Showcase (MIHAS) 2023 today at Menara MATRADE. According to MATRADE\u2019s CEO, Datuk Mohd Mustafa Abdul Aziz, the MoU will result in greater level of collaboration between both agencies, which in turn will accelerate the transformation of local tech champions into global players. This is in line with the objective of the newly launched New Industrial Master Plan (NIMP) 2030, which was recently launched by Malaysia Prime Minister Anwar Ibrahim. \u201cNIMP among others focusses on the government\u2019s mission to get Malaysian businesses to embrace technology and digitalisation to drive innovation, enhance productivity and create new opportunities for economic growth,\u201d Mohd Mustafa pointed out. Under the newly launched New Industrial Master Plan 2030 (NIMP2030), digital and ICT has been identified as one of the five key focus sectors that could help enhance Malaysia\u2019s exports of more complex products and services. As such, he added, there is a need for agencies like MATRADE and MDEC to further streamline our initiatives and embrace a whole nation approach in our promotion abroad. \u201cUnder MDEC\u2019s Malaysia Digital (MD) Catalytic Programmes (PEMANGKIN), we promote nine sectors, which we believe can drive high-value digital export and provide a launchpad for tech companies to expand globally. To nurture and facilitate a business-friendly digital ecosystem, we are collaborating with various partners, and one of them is MATRADE\u201d, said Ts. Mahadhir Aziz, Chief Executive Officer of MDEC. MDEC expects high-tech Malaysian companies to generate $55M in digital export"}, {"url": "https://technode.global/2023/09/11/gobi-partners-invests-in-malaysias-e-waste-recycling-firm-erth/", "page": 18, "title": "Gobi Partners invests in Malaysia\u2019s e-waste recycling firm ERTH", "contents": "Asian-focused venture capital firm Gobi Partners announced a strategic investment in What sets ERTH apart is its dual-fold approach. The company not only facilitates responsible e-waste disposal but also rewards contributors with cash incentives or vouchers. This approach fosters a community-driven commitment to environmental preservation while providing economic compensation, Gobi Partners said in a statement on Monday. ERTH achieves this by employing a gig-economy workforce of over 1,000 freelancers, referred to as \u201cHeroes\u201d. These Heroes play a pivotal role in collecting obsolete, faulty, and discarded electronics, such as laptops, smartphones, printers, televisions, and various devices, directly from households and businesses. Since 2019, ERTH Heroes have collectively diverted more than 1,000,000 kilograms of e-waste from landfills. To put this into perspective, it is equivalent to 1,053 Perodua Myvi cars or 13 Boeing 737 aeroplanes. As a result, the Malaysian Department of Environment has recognised ERTH as the largest authorised collector of e-waste in Malaysia. Thomas G. Tsao, Co-founder and Chairperson of Gobi Partners said, \u201cOur alignment with ERTH\u2019s expansion strategy demonstrates our dedication to driving transformative change. Through this partnership, we are not just investing in a company; we are contributing to a more sustainable and environmentally-conscious future. \u201dAs a symbolic gesture of this new beginning, Gobi colleagues has also collected their electronic waste, including used mobile phones, batteries, laptops, blenders and even an air conditioning unit which were then handed over to ERTH for proper disposal. This initiative is closely linked to Gobi\u2019s Corporate Social Responsibility program, #GobiCares, addressing both community needs and environmental concerns. Established by the husband and wife team of Mohamed \u201cMo\u201d Tarek El-Fatatry (Finnish citizen) and Nahed Bedir Eletribi (Egyptian citizen) in 2019, ERTH was born out of a desire to make a meaningful impact, particularly in waste reduction, with a focus on e-waste. What drew the co-founders to Malaysia was the region\u2019s pressing environmental challenge. According to the United Nations University, Southeast Asia faces a staggering e-waste problem, generating a whopping 12.3 million metric tons of e-waste in 2021 alone. This situation has escalated from a concern to an urgent crisis. Improper disposal and recycling of e-waste can lead to severe environmental consequences. When electronic devices are not recycled correctly, hazardous materials like lead, mercury, and cadmium can contaminate soil, water, and air, posing risks to ecosystems and human health. Mohamed \u201cMo\u201d Tarek remarked, \u201cFinland has consistently ranked among the cleanest countries in the world and I am enthusiastic about applying Finnish best practices here in Malaysia to lead the way in e-waste recycling within Southeast Asia and ultimately work towards making Malaysia the cleanest country in this region. Our partnership with Gobi through the GDIV program is a perfect match, benefiting both our companies and contributing to the improvement of Malaysia\u2019s environmental efforts. \u201dWith this funding, ERTH has joined the ranks of startups supported by the Khazanah Nasional-backed Gobi Dana Impak Ventures Fund (GDIV Fund). GDIV Fund is part of Khazanah\u2019s initiative to bolster the local startup ecosystem, operating within Dana Impak\u2019s Future Malaysia Program. Dana Impak is a key pillar of Khazanah\u2019s Advancing Malaysia strategy, with an MYR6 billion allocation over five years. Within the next 12 months, ERTH\u2019s goal is to open more branches across Malaysia, thus enabling more Heroes to contribute to environmental protection while gaining financial benefits. Gobi Partners onboards Southeast Asia\u2019s largest integrated recommerce platform CompAsia"}, {"url": "https://technode.global/2023/09/08/malaysias-science-technology-ministry-looks-into-vcs-suggestions-to-support-tech-startup-ecosystem/", "page": 18, "title": "Malaysia\u2019s Science & Technology Ministry looks into VCs\u2019 suggestions to support tech startup ecosystem", "contents": "The Ministry of Science, Technology and Innovation (MOSTI) in Malaysia is looking into several suggestions from the venture capitalist community to further support the tech ecosystem in the country. The development came after a meeting between Minister Chang Lih Kang and venture capitalists on Thursday. The minister said he had an insightful engagement session with leading venture capitalists to discuss fortifying the VC ecosystem in Malaysia. The meeting, initiated by Malaysia Venture Capital Management Berhad (MAVCAP), aimed to gather practical feedback and recommendations on how public policy can best support the growth and sustainability of local startups. Among the key areas discussed were potential tax incentives, flexible regulations, and creative financing models that could provide a robust framework for startups to thrive, the minister said.  \u201cThe venture capitalists brought a wealth of experience to the table, highlighting specific gaps and opportunities that could be leveraged for positive impact,\u201d he wrote in a Linkedin post on Friday. \u201cWe recognize that a thriving VC ecosystem is essential for the successful commercialization of innovative ideas, and this collaborative meeting represents a significant step forward in this direction. Such cross-sectoral dialogues are invaluable, as they not only foster a constructive exchange of ideas but also contribute to shaping more effective and responsive policies,\u201d he added. The MOSTI team is committed to turning these insights into actionable plans, Chang said. As the saying goes, \u201cIt takes a village to raise a child,\u201d and it similarly takes an integrated ecosystem to raise a successful startup, the minister wrote. \u201cThank you to all the participants for their candid feedback and actionable insights. Your support and contributions make all the difference. Together, we can drive innovation, bolster economic development, and make our nation a hub for entrepreneurial excellence,\u201d Chang added. Earlier in July, Prime Minister Anwar Ibrahim announced that the Malaysia government and government-linked investment companies (GLICs) will invest MYR1 billion ($211.12 million) in additional funds to match private funds in a bid to support local startups and encourage technopreneurs. The initiative, which is one of several under the new economic road map, would include ensuring the provision of funds for each phase of a company\u2019s growth, alongside expanding the implementation of programs such as Corporate Hackathon and MYHackathon, said Anwar Ibrahim in his speech at the launch of the so-called \u201cEkonomi Madani\u201d plan then. According to the prime minister, Malaysia ranked 20th in the world based on the report of The Global Startup Ecosystem 2023, valuing the Malaysian start-up ecosystem at $46 billion for the first half of 2020 to 2022. It will also allocate an additional MYR100 million ($22.12 million) to intensify research, development, commercialization and innovation, with a focus on industrial needs, such as renewable energy, food security and new growth areas. Feature photo credits: MAVCAP\u2019s Linkedin 500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs"}, {"url": "https://technode.global/2023/09/06/500-global-closes-143m-across-early-stage-growth-vehicles-for-southeast-asia-ropes-in-khazanah-kwap-epf-as-lps/", "page": 19, "title": "500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs", "contents": "Venture capital firm Limited partners (LPs) across its early-stage and growth investment vehicles include Malaysia\u2019s sovereign wealth fund, public and private pension funds like Khazanah Nasional Bhd, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF), 500 Global said in a statement. A university endowment, family offices of prominent global investors, and portfolio companies valued at over $1 billion from 500 Global\u2019s first Southeast Asia early-stage fund have invested as LPs as well.500 SEA III is 500 Global\u2019s third Southeast Asia-focused early-stage fund, with each successive fund having nearly doubled in size since 2014. Originally targeted for $75 million, 500 SEA III closed at $100 million with over half of the fund coming from returning LPs. The early-stage fund will focus on investing in businesses and AI-enabled technologies that advance rural digitalization, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity. 500 SEA III aims to invest in 100 pre-seed to Series A startups, providing first checks between $250,000 \u2013 $500,000 across Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia. \u201cKWAP\u2019s investment in 500 Global began in the latter\u2019s early days through its second Southeast Asia early-stage fund. 500 Global has since grown considerably in strength to a multi-stage investment platform, and remains instrumental in securing co-investment opportunities for KWAP. \u201d \u2013 Hazman Hilmi Sallahuddin, Chief Investment Officer, KWAP. \u201cWe are pleased to continue our partnership with 500 Global, a VC manager with an extensive investment track record globally. In line with Khazanah\u2019s Future Malaysia Program, an initiative under our Dana Impak (Impact Fund) mandate, we are excited about their potential to facilitate the market expansion of start-ups via their Southeast Asia platform, with the anticipation of creating new global champions. \u201d \u2013 Amirul Feisal Wan Zahir, Managing Director, Khazanah Nasional.500 Global\u2019s past Southeast Asia investments have included $5 million \u2013 $20 million checks in Series C to D rounds of portfolio companies such as Carousell (2018), Carsome (2021), and most recently eFishery (2023), and has in the past invited their LPs to co-invest alongside them in select opportunities. \u201cWhile we developed our growth stage capability investing over the years, we have also added resources and new partners in line with our aim to support founders from pre-seed to pre-IPO. \u201d \u2013 Vishal Harnal, Managing Partner, 500 Global. \u201cHistory shows us that cyclical downturns are typically succeeded by periods of high growth surpassing the preceding cycles. Having been investing in Southeast Asia now for over a decade, we learned a thing or two about supporting outstanding founders and companies to ride the next 10 years, to generate highly competitive returns for our institutional investors and portfolio companies. \u201d \u2013 Khailee Ng, Managing Partner, 500 Global. \u201cWe continue to believe in the strong potential and opportunities in Southeast Asia. With a global portfolio of over 2,800 companies across more than 80 countries, we believe that the founders in Southeast Asia will benefit from one of the few truly global venture platforms with deep local roots and in-market expertise. \u201d \u2013 Christine Tsai, CEO & Founding Partner, 500 Global. Over the past decade, 500 Global has backed over 340 companies across Southeast Asia. The firm has invested in companies valued at over $1 billion such as Grab, Bukalapak, Carsome, Carousell, FinAccel, and eFishery.500 Global is a multi-stage VC firm with $2.4 billion in assets under management as of June 30, 2023 that invests in founders building fast-growing technology companies. Its 190+ team members are located in over 25 countries. Ten Filipino startups complete the 917Ventures Accelerator Program by 500 Global"}, {"url": "https://technode.global/2023/09/05/vynn-capital-announces-partnership-with-marubeni-malaysia-to-drive-innovation-growth/", "page": 19, "title": "Vynn Capital announces partnership with Marubeni Malaysia to drive innovation & growth", "contents": "Malaysia-headquartered venture capital firm The partnership aimed at fostering innovation, accelerating growth, and unlocking new opportunities in the Malaysian market, Vynn Capital said in statement. The partnership brings together Vynn Capital\u2019s local network in the Southeast Asia region and expertise in identifying and nurturing promising startups and Marubeni Malaysia\u2019s extensive network and deep industry knowledge. This collaboration will create a robust ecosystem to support and empower innovative entrepreneurs, startups, and businesses in Malaysia and beyond, the VC firm added. Key highlights of the partnership include:1. Business Synergy: Vynn Capital\u2019s strong portfolio of investments in various sectors, coupled with Marubeni Malaysia\u2019s vast resources and access to global markets, will enable both companies to strategically invest and collaborate with high-potential businesses and collaborate with local corporations. This synergy will contribute to fostering innovation across multiple industries and facilitate the growth of disruptive technologies.2. Market Access and Expansion: Vynn Capital will support Marubeni Malaysia in accessing local opportunities and exploring potential to scale new business opportunities and operations locally and regionally.3. Collaborative Innovation: By joining forces, Vynn Capital and Marubeni Malaysia will actively explore and invest in cutting-edge technologies and business models. This collaboration will drive the development and implementation of innovative solutions, promoting sustainable economic growth in Malaysia. Some of the areas identified are mobility, electrification and sustainability themed opportunities. Victor Chua, Founder and Managing Partner of Vynn Capital, expressed his excitement about the partnership, stating, \u201cWe are thrilled to collaborate with Marubeni Malaysia to drive innovation and contribute to the growth of Malaysia\u2019s business ecosystem. Our combined strengths and expertise will create a positive impact on the economic landscape, allowing better integration between Japanese and Malaysian business communities and solve real-world challenges. \u201dTakeshi Fujiwara, Representative of Marubeni Malaysia, shared his thoughts on the partnership, saying, \u201cWe are thrilled to collaborate with Vynn Capital, with their strong portfolio of investments in various sectors, in exploring new business opportunities and operations locally and regionally to contribute to the growth to Marubeni\u2019s business ecosystem. We believe that the collaboration will commence our contributions through  National Energy Transition Roadmap (NETR) in Malaysia and accelerate Marubeni Corporation\u2019s businesses. \u201dMarubeni Malaysia conducts business in Malaysia in a wide range of areas including forest products, chemicals, machinery products, energy, metals , infrastructure projects and mobility, healthcare. Vynn Capital is an early-stage venture capital firm founded with the objective of bridging the gap between traditional industries and the new economies through the development of technology. The team is made up of professionals with experience across early stage invest to late stage financing, with experience in business operations. The investment philosophy revolves around the creation of synergistic value between partners and companies supported by Vynn. Beyond investing, Vynn Capital assists its investors or Limited Partners in understanding new industries and markets with its localised team and network across the major cities of Southeast Asia. Sime Darby, AEI Capital become limited partners in Vynn Capital\u2019s $30M fund"}, {"url": "https://technode.global/2023/09/01/malaysias-solarvest-partners-centexs-huawei-greenbay-to-launch-hyperscale-green-data-center-testbed-and-training-program/", "page": 19, "title": "Malaysia\u2019s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program", "contents": "Solarvest Borneo Sdn Bhd (Solarvest Borneo), a subsidiary of Malaysia-based clean energy firmSolarvest said in a statement on Friday that it has entered into a Memorandum of Understanding (MOU) with Centre for Technology Excellence Sarawak (CENTEXS), Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia), and GreenBay CES Sdn Bhd (GreenBay). According to the statement, this collaboration marks a significant leap toward fostering the hyperscale green data center industry in the Borneo region. This partnership, which brings together each parties\u2019 respective skills and areas of specialization, aims to establish a hyperscale green data center testbed and training program in Sarawak, thereby spurring research and development collaboration and intellectual property creation in clean energy solutions. Solarvest Borneo will contribute its expertise in green energy and energy efficiency solutions, CENTEXS will provide a dedicated testbed area for practical data center operations training, while Huawei Malaysia will leverage on its technological knowhow in cloud computing, enterprise intelligence, renewable energy and data centers to support the training needs of the program. Complementing these efforts, GreenBay will lend its expertise in constructing future-proofed data centers in a cost-efficient manner. Under this collaboration, the four parties aim to promote environmental responsibility by establishing hyperscale data centers that reduce carbon footprint and optimize resource utilization. Ultimately, this initiative aims to enhance the sustainability, reliability and efficiency of data services. \u201cGiven the Malaysian government\u2019s focus on data centers within the digital ecosystem development, our green data center testbed and training program are poised to set the benchmark for environmentally responsible hyperscale data centers,\u201d said Leon Liew Chee Ing, Director of Solarvest Borneo. \u201cLeveraging on Solarvest\u2019s expertise in green energy and energy efficiency solutions, we are positioned to play a pivotal role in creating environmentally conscious and energy-efficient data centers,\u201cOur strategy incorporates renewable energy sources, cutting-edge cooling methods, and efficient server designs, all contributing to a substantial reduction in energy consumption and emissions,\u201d he added. Meanwhile, CENTEXS Chief Executive Officer of CENTEXS Syeed Mohd Hussien Wan Abdul Rahman highlighted the firm is delighted to offer a learning arena dedicated to nurturingAccording to him, the data center testbed provides valuable hands-on exposure for students, professionals, and researchers eager to delve into the intricacies of data center operations, management, and maintenance. \u201cWithin this controlled environment, participants can acquire insights into data center management spanning server deployment, cooling strategies, energy monitoring, andHuawei Malaysia Digital Power Business Unit Vice President Chong Chern Peng said that Huawei Malaysia is excited to collaborate in this venture with a focus on the sustainable, simplified, and reliable characteristics within the domain of data centers. \u201cAs environmental awareness grows, the adoption of green practices to mitigate the ecological impact of data centers is increasing,\u201cThis partnership aims to jointly explore and develop prospects in cloud computing, enterprise intelligence, renewable energy, and data centers,\u201d he said. According to him, Huawei Malaysia is dedicated to enhancing Malaysia\u2019s clean energy ecosystem through its digital and sustainable green technology solutions. \u201cLeveraging our extensive expertise as a leading global information and communications technology (ICT) solutions provider, we are committed to addressing market needs and nurturing local talent in solar and battery technologies,\u201cWe are delighted to join forces with the Sarawak Government to further their clean energy aspirations,\u201d he added. GreenBay Director Nic Chong Lin Kong said that being a forward thinking leader in constructing future-proofed data centers and sustainable energy facilities, the firm provides a comprehensive array of services and solutions, from inception to maintenance, with a primary focus on enhancing total cost efficiency. In response to the escalating data generation, he said the significance of hyperscale data centers become imperative to accommodate the expanding storage and processing requirements. Designed to manage enormous data volumes, he said hyperscale data centers effectively cater to the escalating demands of cloud computing, internet of things (IoT), artificial intelligence (AI), and big data analytics. \u201cThis scale advantage fosters economies of scale, driving down costs per computation and storage unit. The incorporation of multiple redundancies and failover mechanisms ensures unparalleled availability and reliability, subsequently reducing instances of downtime,\u201cRemarkably, hyperscale centers are capable of real-time processing of vast data quantities, facilitating advanced analytics and insights,\u201d he added. According to the statement, the collaboration resonates with Solarvest\u2019s five-year strategic roadmap to emerge as a regenerative clean energy expert. The comprehensive partnership among CENTEXS, Huawei Malaysia, Solarvest Borneo, and Greenbay reflects a united commitment to advancing the field of hyperscale green data centers, where sustainability and innovation converge. Malaysian clean energy firm Solarvest embarks strategic initiatives to expand into Singapore and Brunei"}, {"url": "https://technode.global/2023/09/01/uob-malaysia-launches-financing-solution-for-electric-vehicle-ecosystem/", "page": 19, "title": "UOB Malaysia launches financing solution for electric vehicle ecosystem", "contents": "Banking group The solution seamlessly connects the EV value chain, including automotive component suppliers, automotive brand owners, dealers, and charging point operators to end-users, UOB Malaysia said in a statement on Tuesday. According to the statement, U-Drive is designed to meet the financial needs of all EV ecosystem players by providing a comprehensive range of sustainable financing solutions. For example, automotive brand owners expanding into new markets, car dealers planning to expand their EV inventory and charging point operators procuring and installing charging infrastructure can tap into UOB\u2019s green facilities for their working capital needs. Additionally, businesses, including fleet owners and individuals, can access green financing to purchase EVs and charging equipment. Beyond financing, UOB can also support EV original equipment manufacturers (OEMs) seeking to expand into the country by providing market insights and foreign direct investment advisory. \u201cMalaysia\u2019s pathway to net zero will require a decarbonized transport system and the reimagining of the entire value chain to become green and sustainable,\u201d said Ng Wei Wei, Chief Executive Officer of UOB Malaysia. \u201cUOB is proud to bring U-Drive to the market to support the development of the EV industry in Malaysia,\u201cBy simplifying access to financing for EV ecosystem players and connecting those in need of capital, we aim to power the growth of the industry and encourage the switch to EVs,\u201d she said. According to the statement, UOB Malaysia is pioneering U-Drive with a few key EV players in the country. They include Great Wall Motor (Malaysia) a Chinese auto manufacturer; Sime Darby Motors, a Malaysian automotive group, Perak Transit, an integrated public transportation service provider, as well as chargEV by Yinson GreenTech and PowerBee, an e-mobility arm by Solarvest, who are players leading the charging infrastructure network. \u201cWe strongly believe that Malaysia can be a vibrant EV marketplace given its diverse mobility landscape, focus on sustainability, and proven leadership as an electrical and electronics (E&E) manufacturing hub in Southeast Asia for the past 50 years,\u201d Ng added. While the local EV industry has made good progress in recent years, she said it is still far from realizing its full potential. \u201cNonetheless, it is encouraging to note the strong collective effort from the government, industry associations and key players in the EV value chain, pushing to accelerate the development and adoption of green mobility in Malaysia,\u201d she said. According to the statement, U-Drive is part of UOB\u2019s suite of sustainable financing solutions under the UOB Smart City Sustainable Finance Framework. Aligned with the United Nations Sustainable Development Goals, the bank\u2019s sustainable financing frameworks enable companies to apply for green or sustainability-linked banking products without having to develop their own financing frameworks. Sunway and UOB Malaysia ink partnership to advance net zero goal"}, {"url": "https://technode.global/2023/08/30/malaysias-iprice-launches-price-comparison-platform-in-australia/", "page": 19, "title": "Malaysia\u2019s iPrice launches price comparison platform in Australia", "contents": "IPrice GroupIPrice said in a statement on Wednesday that the firm is now able to provide Australian consumers with the same proprietary online shopping experience it\u2019s been offering Asian shoppers for the past eight years. With its unmatched capability to process and curate a massive 8 billion offers daily, it said iprice. au is well-positioned to establish itself as a key player in the Australia e-commerce landscape. With the launch of iPrice. au, it said iPrice stands apart in the Australian market with its unique ability to compare and curate offers at the same scale that has led to their dominance across Southeast Asia (SEA), a region where they continue to help over 130 million shoppers eachAs more and more Australian retailers launch their own websites and begin operating their own marketplaces, iPrice opined that the ecommerce landscape in Australia is becoming increasingly fragmented. With the launch of iPrice. au, iPrice is responding to a growing demand to streamline the shopping experience for Australian consumers by offering a more effective way to save money shopping online. \u201cAs inflationary pressures make shoppers more cautious about spending, we are pleased to provide the convenience of Southeast Asia\u2019s largest price comparison platform to Australia, to help Australians get more bang for their buck when shopping online,\u201d said Karl Loo, Senior Vice President Business Development and Internationalization for iPrice. According to the statement, the new iprice. au website builds on past successes with a blended approach, adding human curation on top of its proven technology platform. With large teams of category experts constantly reviewing the catalogue, they are able to quickly intervene where offers might be too-good-to-be-true. This human touch is missing in other tools, and ensures Price users don\u2019t just see the cheapest price, they see the the best offers available at the time of their search. Backed by detailed market research to understand the unique needs and preferences of Australian consumers, iPrice aims to provide a tailored shopping experience, positioning the website as not just a tool, but a real shopping companion. The Australian launch of iPrice. au also marks the first significant expansion beyond Southeast Asia, setting the stage for future growth in the region. \u201cOur mission has always been to help consumers save money, it\u2019s great to see how our technology developed for hundreds of millions consumers in SEA has the potential to carry forward to new markets like Australia,\u201d said Heinrich Wendel, Co-Founder and newly appointed Chief Executive Officer of iPrice. IPrice Group is an online shopping companion, serving more than 125 million unique users across eight countries namely Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, Hong Kong and Australia. With a mission to \u201cHelp People Save Money\u201d, the firm aids shoppers by comparing prices, promotions and seller discounts across its vast catalogue of 8 billion offers from thousands of sellers and merchants. Indonesia\u2019s Bukalapak acquires majority stake in Malaysian price comparison platform iPrice"}, {"url": "https://technode.global/2023/08/30/funding-societies-partners-pekema-to-bolster-malaysian-automotive-industry-via-digital-financing/", "page": 19, "title": "Funding Societies partners PEKEMA to bolster Malaysian automotive industry via digital financing", "contents": "Funding SocietiesThe collaborative agreement, formalized through this partnership, is geared towards extending financial support to PEKEMA members, encompassing vehicle dealers from allThis undertaking echoes PEKEMA\u2019unwavering commitment to\u201cOne pivotal aspect of this accord is the enhanced financial support it affords to PEKEMA members, streamlining their acquisition of vehicle stock for \u2018floor stocking\u2019 purposes,\u201d said Mohamed Nazari Noordin, Acting President of PEKEMA. He further emphasized the importance of this initiative in ensuring smooth business operations and effective fulfilment of customer demands. According to him, PEKEMA is set to collaborate with both conventional and non-conventional financial institutions to maximize the breadth of the financing ecosystem. \u201cThis innovative approach is poised to invigorate automotive industry sales and provide members with the latitude to explore diverse financing models, aligning with prevailing market trends and requisites, \u201cThe essence of this collaboration with Funding Societies harmonizes with PEKEMA's mission to fortify Malaysia\u2019s automotive sector amid global transformation, leveraging technology and dynamic partnerships,\u201d he added. In the preceding year, PEKEMA made significant contributions, importing over 46,000 vehicles and retailing approximately 37,000 units, constituting a commendable 5.2 percent of the vehicle industry\u2019s total production (TIV). In the backdrop of Malaysia\u2019s steady economic growth and the introduction of novel vehicle models, the TIV for the current year is projected to reach an impressive 725,000 units. With an extensive network comprising more than 340 distributors and 400 warehouses and showrooms throughout the nation, PEKEMA said the firm is well-positioned to continue its pivotal role in the automotive domain. Simultaneously, Chai Kien Poon, Country Head of Funding Societies Malaysia, expressed enthusiasm about the collaboration\u2019s potential to introduce a groundbreakingThis financing mechanism empowers AP holders to broaden their vehicle stock, mitigate cash flow constraints, and facilitate business expansion. \u201cThrough synergizing Funding Societies\u2019 acumen in SME digital financing with PEKEMA\u2019s expansive network, we are confident in our ability to positively impact vehicle dealers aiming for nationwide expansion, \u201cThis aligns with our objective to bridge the SME financing gap and fuel economic growth,\u201d Chai added. According to the statement, the automotive sector in Malaysia contributed a substantial MYR 64.5 billion ($13.9 billion) to the gross domestic product (GDP) in the preceding year, driven by post-pandemic demand rebound, and the figure is projected to rise to MYR 104.2 billion ($22.46 billion) by 2030. Despite this growth, the two parties opined that certain industry segments continue to face challenges, especially with financing access. Thus, they said the collaboration between PEKEMA and Funding Societies aims to address these issues by offering tailored financing solutions that meet the needs of emerging vehicle dealers. Chai added that this customized financing program, in collaboration with PEKEMA, offers a range of advantages for AP holders \u2013 lower financing cost, higher financing limit, credit period up to 120 days, and streamlined application process. \u201cAP holders that meet the following criteria \u2013 private and public limited companies, with at least 30 percent Malaysian ownership, a minimum of one year in active business operation, and no pending legal actions or litigation \u2013 can apply for the financing,\u201d he said. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. The firm is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. Established over forty years ago, PEKEMA is serving as a collective hub for importers of new and refurbished cars and motorcycles from esteemed suppliers in developed nations like Japan and the United Kingdom for Malaysian automakers. With a legacy spanning four decades, the organization has nurtured an extensive network encompassing more than 340 members across the nation. Headquartered in the technological nucleus of Cyberjaya, Selangor, PEKEMA\u2019s expansive presence is fortified by almostThe organization commands a five percent market share of the total passenger vehicle sales industry. Funding Societies partners CGC Digital to support MSMEs via digital supply chain financing guarantee"}, {"url": "https://technode.global/2023/08/30/ant-partners-paynet-to-promote-payment-for-inbound-and-outbound-malaysian-travellers/", "page": 19, "title": "Ant partners PayNet to promote payment for inbound and outbound Malaysian travellers", "contents": "Chinese FinTech firm The duo said in a statement on Tuesday that they have signed a memorandum of understanding (MOU) recently to allow more Asian travelers to Malaysia to enjoy a seamless digital payment experience at over 1.8 million merchants across the country. The partnership also allowed Malaysian residents to be able to pay with e-wallets of their home country abroad. By the end of this year, users of five leading Asian e wallets, including AlipayHK (Hong Kong SAR), GCash (Philippines), Kakao Pay (South Korea) and TrueMoney (Thailand), will be able to use cashless payments when they travel to Malaysia with Alipay+, the global cross-border digital payments and marketing solutions operated by Ant Group, by scanning DuitNow QR. More e-wallets are expected to join in the coming months. DuitNow QR is Malaysia\u2019s National QR Standard operated by PayNet that allows merchants to accept real-time payments from customers of different participating banks and e-wallet operators using a unified QR code. According to the statement, the partnership will enable all Malaysian e-wallets supported by PayNet to be accepted by Alipay+ merchants network globally in 2024. Beyond payments, Ant Group and PayNet will also collaborate on joint digital marketing efforts to enhance visibility of businesses directly within the users\u2019 e-wallets. \u201cThis partnership between PayNet and Alipay+ is forged at a vital time when overseas travel and tourism have fully resumed, and rapidly increasing,\u201d said Gary Yeoh,Chief Commercial Officer of PayNet. According to him, consumers and merchants in both countries who are already accustomed to digital payments expect the same seamless and hassle-free experience when travelling overseas. He said they also expect this to be conducted at competitive exchange rates. Thus, he sees this collaboration to address both these needs. \u201cSince Malaysia has long been a favorite and popular destination with Asian tourists, and vice-versa, this collaboration will likely result in higher trade growth between the two nations,\u201cWe do see the proliferation of seamless international payments at scale sooner than we think. It is just a matter of time,\u201d he added. The collaboration comes amidst travel recovery to Malaysia, with 4.5 million tourist arrivals in the first quarter of 2023, with most coming from ASEAN countries. Malaysia is expected to achieve its target of 16.1 million tourist arrivals in 2023 and generate more than 49 billion ringgit ($10.56 billion) in tourism revenue. As travel rebounds, both parties reckoned that it is vital for businesses to adapt to new digital habits, particularly the acceptance of localized digital payment options like e-wallets, which has become the norm for day-to-day transactions. They noted that Southeast Asian users will continue to drive the use of QR code payments, which is expected to grow 590 percent by 2028, and other Asian countries like South Korea will also see accelerated adoption. \u201cAlipay+\u2019s collaboration with PayNet is a significant development for regional travellers, \u201cWe are jointly making efforts to bring local businesses and international visitors closer together, offering not just convenience to tourists but greater opportunities and visibility for Malaysian businesses,\u201d said Dr Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant. According to him, travelers today have greater expectations when they travel, particularly the use of digital solutions to enhance their experience. \u201cThey want it to be simpler, with less complexity and less hassle, and in working with our local partners, this is exactly what we want to achieve \u2013 personalized, seamless and borderless experiences,\u201d he said. Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach more than 1 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to Malaysia, Alipay+ is also widely accepted in destinations including the Chinese mainland, Macao SAR, Singapore, Thailand, Japan and South Korea among others. As for PayNet, this would be yet another successful cross-border collaboration after Thailand, Indonesia, and Singapore. These interlinkages connect a sizeable portion of digital payments customers in ASEAN, which is one of the most active digital payments markets in the world. Ant is a firm aims to create the infrastructure and platform to support the digital transformation of the service industry. The firm is the owner and operator of Alipay, the leading digital payment platform in China serving hundreds of millions of users, and connecting them with merchants and partner financial institutions that offer inclusive financial services and digital daily life services such as food delivery, transport, entertainment, and healthcare. PayNet is a payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia\u2019s digital economy. Its extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has near ubiquitous coverage across the nation and is part of the daily fabric of life in Malaysia. Ant Group expands Alipay+ coverage to all 7-Eleven stores in Malaysia"}, {"url": "https://technode.global/2023/08/28/malaysia-based-coworking-space-worq-uoas-newest-partnership-reaches-70-occupancy-rate-pre-launch/", "page": 19, "title": "Malaysia-based coworking space WORQ & UOA\u2019s newest partnership reaches 70% occupancy rate pre-launch", "contents": "Editor\u2019s note: Malaysia\u2019s coworking and flex space provider This 15,000-square-foot coworking space will serve as a growth hub for global tech startups while also giving the local and international community access to a vast business network and robust infrastructure. Since 2017, WORQ said it has fostered over 266 startups and 122 tech companies, emerging as the leading coworking space in Malaysia. This collaboration with UOA also demonstrates a commitment to position Malaysia as the premier digital hub within the ASEAN region. Aligned with Malaysia Digital Economy Corporation\u2019s (MDEC) Malaysia Digital (MD) initiatives and PEMANGKIN programs, WORQ hopes to drive the growth of Malaysia\u2019s digital economy, the company said in a statement. Private equity firm Chairman and Founding Partner Nazir Razak, who officiated the launch of the outlet further shared, \u201cThis is a significant step towards fostering innovation and collaboration in Malaysia\u2019s dynamic business landscape. Coworking spaces are now hubs of technological innovation that serve as a launching pad for numerous aspiring startups. \u201cThe growing digital economy in Malaysia is the result of a number of factors, which also make Malaysia a more desirable location for tech and digital companies looking to expand their presence in the ASEAN region. WORQ\u2019s new 15,000 square foot hub not only exemplifies the brand\u2019s commitment to supporting startups and businesses but also reinforces its role in advancing Malaysia\u2019s stature as a leading digital hub within ASEAN,\u201d he said, adding that he was highly impressed by the company\u2019s performance. At present, foreign companies building teams in Malaysia make up about 50 percent of WORQ\u2019s clientele.\nWORQ is helping to accelerate Malaysia\u2019s startup ecosystem & digital economy Global venture capital firm Antler, which recently extended its international footprint into Malaysia through a partnership with the sovereign wealth fund of Malaysia, Khazanah, is setting up the headquarters of Antler Malaysia at WORD Bangsar. \u201cWe\u2019re thrilled to establish the headquarters of Antler Malaysia at WORQ Bangsar in Kuala Lumpur. Our vision is to fuel the growth of more than 30 innovative startups throughout Malaysia within the next three years. Through our partnership with WORQ, as the official ecosystem enabler and becoming one of their Talent Development and Funding Partners under the Malaysia Digital Hub (MDH) initiative, we are able to extend the reach of our residency to support the growth of startups,\u201d shared Frank Kang, Associate Partner for Malaysia, Antler. Antler has offices in 26 cities across six continents, including Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney. In line with the Malaysian Startup Ecosystem Roadmap (SUPER), WORQ said it continues to support the progress and development of startups at every stage, from inception to globalization. The brand aspires to create business-ready hubs that go beyond providing just workspaces but also offering a range of business support and technology solutions to cater to the needs of startups and entrepreneurs. \u201cCradle acknowledges WORQ\u2019s impact on the Malaysian startup ecosystem, and we see our investment in this establishment go beyond a financial transaction as it signifies an opportunity to create a direct spillover effect in the startup ecosystem and, by extension, the broader Malaysian economy. Our vision is clear to cultivate a flourishing startup landscape that not only revolutionizes industries but also creates a ripple effect of job creation, economic growth, and technological advancement,\u201d said Norman Matthieu Vanhaecke, Acting Group CEO of Cradle Fund Sdn Bhd (Cradle). Aligning with the government\u2019s MyDIGITAL initiative to attract new investments worth MYR70 billion in the digital sector from within and outside the country, industry players are thriving in their digital transformation journey. WORQ aims to enable over 10,000 workers in Malaysia as this is part of the company\u2019s immediate plans to expand its total space under management to 450,000 square feet by 2025, the company added. WORQ\u2019s investors include Cradle Fund, Philip Capital, SMG, 500 Global through its subsidiary 500 Durians LLC, among others, its Linkedin profile showed. Malaysia\u2019s WORQ partners DE Rantau to bring high-value jobs to Malaysia worth over $79M"}, {"url": "https://technode.global/2023/08/24/beyond-tonight-comes-to-kl-again-to-promote-asias-largest-tech-expo/", "page": 19, "title": "BEYOND Tonight comes to KL again to promote Asia\u2019s largest tech expo", "contents": "BEYOND ExpoDistinguished attendees of the event encompassed a diverse spectrum, including investors, prominent figures from the tech ecosystem, representatives from government agencies, venture capital firms, corporations, family offices, startups, as well as notable presences including Khazanah Nasional Bhd, Malaysia Venture Capital Management (MAVCAP), Sunway Group, Maxis Bhd, Gobi Partners, Kairous Capital, Antler, Artem Ventures, Malaysia Digital Economy Corporation (MDEC), Cradle Fund, TusStar, Leong Hup International, Asia School of Business, among others. During the networking event,Ho presented an insightful overview of the standout features of BEYOND Expo 2023, shedding light on the forthcoming prospects for the upcoming 2024 edition. He also shared valuable insights into the promising opportunities within Macao, Hengqin Guangdong-Macao Deep Cooperation Zone and the Greater Bay Area. The networking session also served as an engaging platform for fostering connections and knowledge exchange, further enhancing the collaborative spirit within the tech and innovation landscape. BEYOND Expo 2024 will be held from May 23 to 25, 2024 in Macao. The expo next yearwill continue to focus on the three sub-brands: BEYOND Healthcare, BEYOND Sustainability, and BEYOND ConsumerTech. BEYOND Expo 2023 opens in Macao, redefining technology"}, {"url": "https://technode.global/2023/08/23/technode-global-rebrands-as-tnglobal-strengthens-malaysia-tech-ecosystem-connections-with-kl-office/", "page": 19, "title": "TechNode Global Rebrands as TNGlobal, Strengthens Malaysia Tech Ecosystem Connections With KL Office", "contents": "KUALA LUMPUR, August 22, 2023As part of this bold and ambitious move, \u201cFurther enriching the innovation landscape, TNGlobalKeynote and Guest Speakers:TNGlobal ("}, {"url": "https://technode.global/2023/08/18/tng-digital-partners-amanah-saham-nasional-to-provide-malaysians-easy-investment-through-touch-n-go-ewallet/", "page": 20, "title": "TNG Digital partners Amanah Saham Nasional to provide Malaysians easy investment through  Touch \u2018n Go eWallet", "contents": "Malaysian payment firm This partnership enables Malaysians to subscribe to all 17 ASNB unit trusts through the GOinvest feature in the eWallet, TNGD said in a statement on Wednesday. According to the statement, these will complement the nine unit trusts that are currently available on GOinvest. Existing ASNB unitholders can now invest conveniently in ASNB unit trust through GOinvest from the comfort of their own homes, without the need to physically visit a branch or agent. Users can also check their portfolio performance, and make new investments anytime, anywhere. New users are also encouraged to access their ASNB account through the eWallet for hassle-free investing once they have completed the easy online registration via the MyASNB app. \u201cThe introduction of ASNB to our growing financial services portfolio aligns with our commitment towards digital inclusion and making financial investment accessible for everyone,\u201d said Alan Ni, Chief Executive Officer of TNGD. With a relatively low risk and long-term investment instrument, he said the firm\u2019s users can save and invest with a consistent and competitive return on investment through ASNB. With an incredibly low minimum initial investment of just MYR 10 ($2.15), he said over 12 million ASNB unit holders can now effortlessly invest through GOInvest in the Touch \u2018n Go eWallet. This innovative partnership further diversifies GOinvest\u2019s offerings to a total of 26 unit trusts that caters to different risk appetites, while making online investments convenient and affordable for the masses. \u201dMeanwhile, ASNB Chief Executive Officer and Executive Director Muzzaffar Othman said that the firm aims to position itself as the advisor of choice, while simultaneously democratizing financial advice by making it accessible to all. \u201cThis has led to the implementation of pivotal initiatives within our advisory, products, and channels, driving our transformation journey, \u201cWe are committed to this mission as we seek to maximize all available channels to provide fast and convenient service to deliver a better overall user experience,\u201d he said. It is noted that the ASNB unit trusts are available for all Malaysians and categorized into two types of funds: Fixed Price Funds and Variable Price Funds. ASNB Account opening can be initiated as early as newborn age through ASNB Kiosk or over the counter at any ASNB and Agents branches. Additionally, for investors aged 18 years and above, the account can also be conveniently opened online via the myASNB app. \u201cAs Malaysians\u2019 preferred eWallet for daily transactions, we are committed to continuous innovation that will redefine banking, whilst providing seamless, safe, and reliable financial solutions that are tailored to meet the evolving needs of our users, \u201cEvident through strong partnerships such as this with ASNB, we are progressively building a suite of financial products and services, which include investments, insurance, lending, and payment solutions, that will add value and provide financial empowerment to our users,\u201d added Ni. Muzzaffar also added that this partnership provides the opportunity for financial inclusion and empowers individuals from all walks of life to secure their financial futures. \u201cThis is also part of our mandate to ensure that every Malaysian has access to affordable and sustainable investment opportunities, \u201cTogether, we will redefine convenience, accessibility, and financial empowerment. Our commitment to excellence, integrity, and innovation will drive us forward on this exciting path,\u201d he said. TNGD was founded by Touch \u2018n Go Sdn Bhd and Ant Group (Ant), parent company of Alipay, China\u2019s largest digital payments platform. Established in 2017, TNGD is the owner and operator of Malaysia\u2019s e wallet Touch \u2018n Go eWallet which has more than 21 million registered users and over 1.7 million merchant touch points including DuitNow QR. Combining Touch \u2018n Go\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, Touch \u2018n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Touch \u2018n Go eWallet offers complete payment coverage for on-street parking in Kuala Lumpur and Selangor"}, {"url": "https://technode.global/2023/08/17/insurtech-ouch-enters-market-as-the-first-digital-takaful-operator-in-malaysia/", "page": 20, "title": "Insurtech Ouch! enters market as the first digital Takaful operator in Malaysia", "contents": "Malaysia-based insurtech platform The plan marks Ouch!\u2019s formal entry into the takaful market as the first digital Takaful operator in Bank Negara Malaysia\u2019s regulatory Sandbox, Ouch! said in a statement on Wednesday. According to the statement, Pusara Pro is a simple term life product that provides participants with a death benefit of up to MYR 500,000 ($107,469) and an additional compassionate benefit of 10 percent of the total sum assured. It is noted that Pusara Pro\u2019s 24-hour compassionate benefit claims payout is a record first in Malaysia across both conventional and takaful markets. All claims can be made and tracked directly through the Ouch! mobile app, further simplifying the claims process. \u201cAs an insurtech platform looking to shake up the insurance or takaful space, we are determined to eliminate one of the industry\u2019s greatest hurdles: the claims experience and processing times,\u201cThe swift 24-hour turnaround for compassionate claims is our commitment to our participants so that we can help provide crucial financial support for families during the incredibly challenging, immediate aftermath of losing a loved one,\u201d said Shazy Noorazman, Chief Executive Officer of Ouch!. Cited the Malaysian Takaful Association\u2019s annual report, he said  the takaful industry experienced an 18.3 percent increase in gross contributions in 2022 compared to the year before. Thus, he sees the launch of Pusara Pro to drive the takaful growth further and reach a wider group of audience. According to the statement, through leveraging technology and eliminating middleman costs, the team is able to maintain an estimated 20 percent lower contribution rate than the market average \u2013 hence positioning Pusara Pro as a cost-effective option for young Malaysians, especially those who are just starting out with basic life protection. Doing away with complexities and jargon, the plan also simplifies the process of getting insured with a hassle-free application process that only consists of four health underwriting questions. \u201cWe stand by the motto that takaful/insurance shouldn\u2019t have to be complicated or expensive. Keeping young Malaysians in mind \u2014 many of whom are just starting out in their careers and have likely never purchased takaful/insurance before \u2014 our utmost priority is keeping things straightforward and pocket-friendly,\u201cAs the first of our in-house products, Pusara Pro is a fresh step forward in our journey to make takaful accessible to every Malaysian,\u201d Shazy Noorazman added. Pusara Pro is an all-digital product that can be directly purchased, viewed, and serviced in the palm of users\u2019 hands, via the Ouch! mobile app. Besides policy management, the app also  looks to be an educational takaful/insurance tool for younger Malaysians, with reward features for staying healthy, a coverage calculator to help identify best-fit strategies for its users, as well as a referral program for all participants to earn rewards. Ouch! is a homegrown digital Takaful operator in Bank Negara Malaysia\u2019s Regulatory Sandbox that ultimately aims to make takaful/insurance more accessible for all Malaysians. As a one-stop takaful/insurance platform, the firm helps users learn more about their coverage options and risks, purchase or manage digital products, and make claims \u2014 entirely through the app. Carsome partners PolicyStreet to introduce personal accident coverage in Malaysia"}, {"url": "https://technode.global/2023/08/16/malaysias-uem-acquires-majority-shares-in-sustainable-energy-solutions-company-cenergi/", "page": 20, "title": "Malaysia\u2019s UEM acquires majority shares in Sustainable energy solutions company Cenergi", "contents": "Malaysian engineering-based infrastructure and services company UEM Group said in a statement on Wednesday that Cenergi is now a subsidiary of UEM Group. \u201cCenergi has a commendable track record with projects and presence across the country, \u201cWe see immense potential in this company and are committed to nurture as well as provide the necessary expertise, operational and financial support that will enhance Cenergi\u2019s operational capabilities, secure more projects and usher in a new era of growth,\u201d UEM Group Managing Director Mohd Izani Ghani said. According to him, Cenergi is a key asset of UEM Group and the firm\u2019s goal is to ultimately position Cenergi as a green domestic champion to contribute significantly to Malaysia\u2019s sustainable future. He also said renewable energy is one of the key sectors and immediate priority of UEM Lestra Berhad (UEM Lestra), the green industries arm and wholly-owned subsidiary of UEM Group. \u201cThis is due to the sector\u2019s strong market attractiveness and high importance to Malaysia\u2019s decarbonization agenda,\u201cCenergi\u2019s extensive experience and capabilities in this sector makes them a valuable addition to UEM Group and UEM Lestra specifically,\u201d he said. He also noted that Cenergi\u2019s inclusion in UEM Group of companies will further promote strategic complementarity amongst its subsidiaries across different core businesses. \u201cBy leveraging on the expertise and strengths of each of our subsidiary, we will be able to create synergistic business opportunities for UEM Group as whole,\u201d he added. Incorporated in 2008, Cenergi specializes in reducing carbon footprint through investment in renewable energy specifically biogas, biomass and solar as well as energy efficiency projects. The firm is Malaysia\u2019s largest grid-connected palm oil mill effluent (POME) biogas player. It has a portfolio of 23 biogas power plants in Malaysia and Indonesia, with a total generation capacity of 39.6 megawatt (MW). It also has 20 solar projects across Malaysia, consisting of both solar farms and rooftop solar, with a cumulative capacity of over 37.6 megawatt peak (MWp). At present, Cenergi has in the pipeline biogas, rooftop solar and solar farm projects that are under construction and development in Malaysia. In addition, its subsidiary, Cenergi EE Holdings Sdn. Bhd. was recently allotted with a 29.99MWac quota under Energy Commission\u2019s Corporate Green Power Programme (CGPP).  From August 2012 to May 2023, Cenergi via its various operating assets and investments have avoided over 2.4 million tons of carbon emissions, which translate into removing approximately 547,762 passenger vehicles from the road or powering 310,234 homes for a year. UEM partners local, foreign investors to develop hybrid solar photovoltaic power plant in Malaysia"}, {"url": "https://technode.global/2023/08/16/thailands-truemoney-facilitates-staff-benefits-for-charoen-pokphand-c-p-group-and-lotuss-in-malaysia/", "page": 20, "title": "Thailand\u2019s TrueMoney facilitates staff benefits for Charoen Pokphand (C.P.) Group and Lotus\u2019s in Malaysia", "contents": "TrueMoneyStarting from May, Lotus\u2019s staff can enjoy the convenience of facilitated offers and benefits from TrueMoney, while C. P. Group staff will receive these benefits beginning in August, TrueMoney said in a statement on Wednesday. According to the statement, TrueMoney Malaysia aspires to establish more staff benefit arm partnerships with prominent corporations in the coming years. In these potential collaborations, corporations will have the opportunity to extend exclusive staff discounts for purchases made at Lotus\u2019s stores or any of the existing TrueMoney e-wallet merchants. Moreover, TrueMoney plans to introduce curated marketing campaigns, including staff referral programs, exciting lucky draws, engaging roadshows, and other innovative initiatives. \u201cThrough our e-wallet, C. P. Group and Lotus staffs will have access to a wide range of businesses, as well as amazing promotions, cashback and benefits to reward them,\u201d said Jessie Chong, Ascend Group\u2019s Country Managing Director. According to her, this is an innovative and practical way to extend employee benefits that is both easy and encourages adoption. \u201cWe hope that through this facilitation, staff can enjoy a seamless and secure cashless payment journey with the TrueMoney e-wallet whenever they spend at Lotus\u2019s or any of our participating merchants,\u201d she added. TrueMoney is a regional fintech company in Southeast Asia, under Ascend Money, a joint venture between The Charoen Pokphand Group (C. P. Group) and Ant Financial (Alibaba),Having launched in Malaysia in early 2023, TrueMoney Malaysia has experienced substantial growth, boasting around 12,000 merchants and over 30,000 payment points that encompass retail, gaming, technology, restaurants, and more. Operating in six other countries, the TrueMoney e-wallet has impressively surpassed 50 million downloads of its e-wallet app, catering to a vast user base across Southeast Asia. TrueMoney also has the largest agent network with over 88,000 agents, helping its customers send money seamlessly both domestically and overseas, capturing markets suchFollowing the facilitation, every staff member at Lotus\u2019s can now enjoy a 10 percent cashback in TrueMoney e-wallet credits when making purchases at Lotus\u2019s stores using the e-wallet app. The cashback applies to all transactions without any minimum spend requirement, with a cap of RM50 per staff member per month. Additionally, Lotus\u2019s staff will earn 3 times Lotus points for every MYR 1 ($0.22) spent, as opposed to the standard 2x Lotus points earned by regular customers. C. P. Group employees will also now have the opportunity to receive a 5 percent cashback on their purchases at Lotus\u2019s stores when utilizing the TrueMoney e-wallet app, without any minimum spending requirement, but with a maximum cap of MYR 25 ($5.39) per staff member per month. \u201cOn top of cashback and Lotus\u2019s member points, we frequently organize curated lucky draws and engaging marketing campaigns to offer employees a chance to win exciting prizes,\u201d said Chong. Through the firm\u2019s initiatives, she said the firm aims to create a mutually beneficial ecosystem where staff members can enjoy the perks of TrueMoney and savor the advantages of digital payments seamlessly. \u201cWe look forward to delivering exceptional value and experiences to their employees and customers alike,\u201d she added. By pursuing such strategic partnerships, TrueMoney said it strives to foster a comprehensive ecosystem of digital payment services, providing enhanced benefits and convenience for both corporate employees and the wider Malaysians. With its wide range of services and offerings, the brand said it aims to be the go-to platform for all digital payment needs in Malaysia. The C. P. Group was founded in the early 1920s as a conglomerate focused on agri business-production and processing and service-telecommunications, logistics andThe C. P. Group currently has investments in 21 countries and economies. In 1974, the C. P. Group was incorporated in Malaysia primarily in the poultry integration Industry. The C. P. Group Malaysia consists of two groups with different types of businesses which are the agro-industry and foods business group and the aquaculture business group. Lotus\u2019s Stores Malaysia Sdn Bhd (Lotus\u2019s Malaysia) is a member of the C. P. Group since December 2020. Having acquired Tesco Malaysia\u2019s business in December 2020, Lotus\u2019s Malaysia has assumed the operations of all existing Tesco stores, employing 9,000 employees across one head office, two distribution centers and 65 stores throughout Peninsular Malaysia. Lotus\u2019s also has an extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan and Ipoh in Malaysia. Thailand e-wallet provider TrueMoney enters Malaysia"}, {"url": "https://technode.global/2023/08/14/malaysias-kgw-logistics-collaborates-with-uthm-to-introduce-hands-on-learning-in-logistics-and-e-commerce/", "page": 20, "title": "Malaysia\u2019s KGW Logistics collaborates with UTHM to introduce hands-on learning in logistics and e-commerce", "contents": "KGW Group BerhadKGW said in a statement on Monday that this collaboration is designed to empower students with a hands-on learning experience in the world of logistics and e-commerce. KGW, through this collaboration, stands as a commercial entity that offers an ecosystem for live training. The facilities provided by KGW at UTHM include specialized rooms such as a warehouse, parcel collection room and more. These spaces allow students to experience the actual workflow and operations of a real-world logistics system.  Beyond theoretical knowledge, this partnership fosters students\u2019 practical understanding on the logistics system. KGW said the firm is committed to supporting universities in nurturing students, emphasizing hands-on training and live practice. The meticulously crafted learning modules are designed to replicate real-life scenarios, ensuring students are industry-ready upon graduation. \u201cOur hands-on approach not only differentiates us but also aligns with our commitment to nurturing the next generation of entrepreneurs,\u201d KGW managing director Roger Wong said. With UTHM based in Johor, KGW emphasizes that Johor will spearhead the aforesaid project. It said the collaboration sets a benchmark for educational institutions and highlights Johor\u2019s commitment to be at the forefront of technological and educational advancements. It is noted that the Enterprise Trade Hub will function as a learning center for import and export trade via online platforms like eBay, Amazon, and Etsy, specifically targeting the United States market. By working closely with the KGW Group, it said UTHM students will gain an understanding of global supply chain management and e-commerce ecosystems. Listed on the ACE Market of Bursa Malaysia, KGW is principally involved in logistics services as well as the warehousing and distribution of healthcare-related products and devices. Under logistics services, the group offers ocean and air freight services and freight forwarding services. The firm has a diversified customer base across the world, focusing primarily on Malaysia, the rest of Asia and North America.  Malaysia\u2019s Teleport unveils first A321 freighter"}, {"url": "https://technode.global/2023/08/14/fourier-intelligence-delivers-advance-rehab-robotics-center-to-wq-park/", "page": 20, "title": "Fourier Intelligence delivers advance rehab robotics center to WQ Park in Malaysia", "contents": "Singapore-based technology firmFourier Intelligence said in a statement on Monday that the East Coast in Malaysia will now see a comprehensive range of advanced rehabilitation technology as the firm supplies its dynamic range of rehabilitative solutions to WQ Park. This is in line with the recent launch of its advanced rehab robotics center (ARRC) in Kuala Lumpur, where Fourier Intelligence aims to utilize its new facility to serve as a direct waypoint for the domestic medical industry to obtain the latest advancements in rehabilitation technology. In addition, it also aims to cater for the growing demand for rehabilitation technology globally. \u201cThe  World Health Organization (WHO) has estimated that over 1 billion people are affected by disabilities that impact their mobility and independence, \u201cBy harnessing the power of robotics and engineering, we can transform countless lives and redefine the future of rehabilitation,\u201d said Zen Koh, Co-Founder and Global Chief Executive Officer of Fourier Intelligence. \u201cAt Fourier Intelligence, we aim to empower therapists and patients alike. We are glad that local institutions such as WQ Park are utilizing our devices to provide rehabilitative solutions to Malaysians, \u201cThrough this, we believe that it will be able to assist and drive growth in Malaysia and the Southeast Asian Region,\u201d he added. Fourier Intelligence is a technology company dedicated to developing exoskeleton and rehabilitation robotics with a focus on creativity since its inception in 2015. The company collaborates with researchers, therapists, and patients to deliver cutting-edge rehabilitation robotics solutions. Fourier Intelligence aims to elevate user experience through its interconnectable intelligent robotics technology, providing an intuitive, easy-to-use system that enhances the lives of both patients and therapists. With its diverse portfolio of more than 30 products and 200 turnkey solutions, the firm specializes in developing advanced robotic exoskeletons and virtual reality-based therapy platforms to address needs for upper, lower, balance and movement impairments. Coupled with gamified therapy, these innovations enable healthcare providers to deliver personalized and effective rehabilitation programs, improving the patient\u2019s overall recovery outcomes and quality of life. Singapore\u2019s Fourier Intelligence launches Advanced Rehab Robotics Center to expand rehabilitation tech solutions"}, {"url": "https://technode.global/2023/08/11/malaysias-solarvest-eyes-further-expansion-in-taiwans-clean-energy-market/", "page": 20, "title": "Malaysia\u2019s Solarvest eyes further expansion in Taiwan\u2019s clean energy market", "contents": "Malaysian clean energy firm Solarvest said in a statement that the firm has an active pipeline of projects in Taiwan, supported by 200.0 MWp of clean energy project opportunities. Following the group\u2019s previous collaboration with Taiwan-listed solar investor and contractor company Hsinjing Holding Corporate Limited (Hsinjing) to develop solar projects, the group said the establishment of STCL further solidifies its foothold in Taiwan and opens opportunities for ventures into other renewable energy sources such as wind energy throughout the country. Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said the foothold in Taiwan will further strengthen the group\u2019s regional presence. \u201cTaiwan presents a promising landscape for Solarvest\u2019s expansion, driven by the nation\u2019s ambition to achieve 30.0 GW of solar energy and 20.7 GW of wind energy by 2030 and 2035, respectively,\u201d he said. According to him, Taiwan\u2019s current solar energy generation stands at around 11.0 GW, while wind energy production is at 6.0 GW, revealing tremendous potential for the group to further advance Taiwan\u2019s renewable energy ambitions. \u201cAt Solarvest, we remain committed to being a trusted partner in supporting the global energy transition towards a sustainable future. \u201cAs Solarvest advances ahead, we are transforming into a holistic clean energy developer, actively participating as an asset owner or co-developer in our overseas projects,\u201d he said. In tandem with the group\u2019s five-Year strategic roadmap, he said the firm is also exploring other clean energy sources, particularly in the development of wind energy projects alongside its focus on solar projects in Taiwan. As a clean energy expert with a multi-national presence across Asia-Pacific, Solarvest engages across the clean energy value chain encompassing development, financing, engineering, construction, operation, and maintenance of solar photovoltaic (PV) assets. The Malaysia-based company started as a one-stop solar photovoltaic system solution provider for residential, commercial and industrial, and utility-scale solar farms. The group owns renewable energy generation plants with a cumulative capacity of approximately 100 megawatt-peak (MWp). Additionally, Solarvest has a proven track record with a clean energy capacity of 1.0 gigawatt (GW) for both completed and ongoing projects, which is set to be further bolstered by a robust tender book of approximately 2.5 GW. The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Going beyond solar, the firm is venturing into new sustainable solutions across the clean energy ecosystem, such as energy efficiency (EE) solutions, energy storage systems (ESS), low-carbon mobility (EV) ecosystem, renewable energy certificates (REC), green hydrogen, and green data centers. Solarvest earlier demonstrated expertise in the installation of large-scale solar plants (LSS), as exemplified by the installation of a 50 MW large-scale solar farm for Malaysia\u2019s utility provider, TNB Engineering Corporation Sdn Bhd. Aligned with the growing adoption of clean energy across the commercial and industrial (C&I) rooftop project landscape, the group\u2019s portfolio boasts services provided to a diverse multinational clientele. This includes the monumental rooftop solar PV project with NEFIN Group and Petroliam Nasional Berhad (Petronas), to power up a total of 27 outlets of the renowned hypermarket chain, Lotus\u2019s Malaysia. Having worked with NEFIN Group on several successful solar projects, Solarvest is extending its partnership with NEFIN Group to further develop projects across the Asia Pacific region. Malaysian clean energy firm Solarvest embarks strategic initiatives to expand into Singapore and Brunei"}, {"url": "https://technode.global/2023/08/10/malaysias-bintang-capital-invests-in-singaporean-integrated-waste-management-firm-blue-planet/", "page": 20, "title": "Malaysia\u2019s Bintang Capital invests in Singaporean integrated waste management firm Blue Planet", "contents": "Bintang Capital Partners Berhad (Bintang)The investment marks a significant milestone in Bintang\u2019s commitment to supporting innovative companies that can revolutionize the waste management industry and drive positive impact to the environment, Bintang said in a statement on Thursday. According to the statement, the investment proceeds are to be utilized to expand the company\u2019s operational teams and portfolio of waste management technologies, which in turn will allow Blue Planet to manage and process additional waste types in its existing as well as new markets. It is noted that Bintang\u2019s investment was driven by its belief that there is an urgent need for sustainable waste management solutions at scale, akin to Blue Planet\u2019s, to address the growing volumes of hazardous and environmentally damaging waste being produced globally. In Malaysia alone, it is estimated that approximately 38,000 metric tonnes of waste per day was generated in 2021, contributing to the overflowing of local landfills and environmental pollution. Through Bintang\u2019s investment, it aims to support Blue Planet\u2019s efforts to tackle this critical waste problem in Malaysia and abroad. \u201cThis partnership will help to continue Blue Planet\u2019s growth, particularly with respect to expanding the types of wastes and the countries within which our portfolio of solutions will be applied, \u201cWith Bintang\u2019s support, we have greater confidence and optimism in moving towards our vision of a zero waste-tolandfill future,\u201d said Madhujeet Chimni, Founder of Blue Planet. Blue Planet is a global waste management enterprise that is delivering innovative environmentally friendly and fully integrated waste management solutions across India,The company leverages its proprietary technologies to deliver a broad range of solutions, including the remediation and recovery of waste-contaminated areas, waste collection and sorting, reclamation of raw materials (e. g. metals, wood or concrete) from waste, waste-to-energy solutions as well asrecycling and upcycling waste into functional higher-value products, for multiple types of waste (e. g. municipal solid waste, industrial waste, electronic waste, construction waste and scheduled waste). Since Blue Planet\u2019s inception in 2017 by its founders, Madhujeet Chimni, Bharadwaj Chivukula, and Prashant Singh, the company has proven its track record in waste management solutions and addressed the pressing challenges of resource recovery. The company has processed 3.3 million metric tonnes of waste and mitigated an equivalent of 2 million metric tonnes of carbon dioxide emissions in 2022 alone. It is estimated that Blue Planet currently removes 15,200 metric tonnes of waste per day from existing landfills, generates 10,000 normal cubic metres of biogas (as clean energy) per day via the processing of organic waste and has recovered more than 800 acres of land (legacy landfills) for public use. \u201cGiven the urgency around the growing global waste problem, and as the first B Corp Certified private equity firm in Southeast Asia, Bintang is thrilled to be a part of Blue Planet\u2019s quest to transform the Southeast Asian waste management industry,\u201d said Bintang\u2019s Founder and Chief Executive Officer, Johan Rozali-Wathooth. He said Bintang is strongly aligned to Blue Planet\u2019s innovative, efficient and sustainable approach towards waste management, coupled with the company\u2019s ability to successfully combine cutting-edge technologies and streamlined processes at scale. \u201cThe remediation of legacy landfills, which can be then put to use as public spaces and rehabilitated for the planting of trees, provides opportunities to not only reverse ecological damage of the past but also create net positive environmental impact in the future,\u201d he added. Bintang is the private equity arm of AHAM Asset Management Berhad, a Malaysian asset management group. The firm focuses on deploying capital into fast-growing mid-sized ASEAN companies with proven track records. The firm\u2019s maiden fund, BCPAF I is anchored by Dana Penjana Nasional, an investment fund under the Malaysian Government\u2019s Ministry of Finance aimed at catalyzing the country\u2019s post Covid-19 economic recovery whilst supporting the local private capital industry. Malaysia\u2019s Involve Asia raises over $10M in funding round led by Bintang Capital Partners"}, {"url": "https://technode.global/2023/08/09/mranti-launches-malaysia-innovation-matching-platform-to-propel-commercialization-rate/", "page": 20, "title": "MRANTI launches Malaysia innovation matching platform to propel commercialization rate", "contents": "The MRANTI said in a statement that MATCH is a technology innovation monetization platform that connects and offers local technology providers and seekers win-win solution to accelerate the technology commercialization in Malaysia. According to the statement, the site is expected to enlist 50 innovation seekers and providers in the initial phase with a 10 percent successful matching rate target. Through MATCH, researchers, investors, individuals and experts at any stage of their technology development looking for an industry partner or funding, sandbox sites, orIn providing \u201cmatch-making\u201d services, the platform will also act as a vibrant marketplace where a list of projects based on the technology readiness level and technology categories align with specific and profitable use cases. \u201cSimilar to an e-commerce site, MATCH in this case, is for anyone and everyone in the innovation ecosystem, \u201cBy bridging all interested individuals and organizations, we hope to have a tighter, more transparent, cohesive and consistent view on the opportunities and gaps in commercialization of local technologies,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. Meanwhile, ministries, government agencies, corporates, or businesses seeking to acquire new technology innovation or searching for solution partners can connect through theIn addition, the platform synergizes with and complement various other initiatives and databases including the Malaysia Open Science Platform by Akademi Sains Malaysia as it extends the work of scientists and the academia beyond the confines of the laboratory or academia, into the market where innovative technology matches its specific and profitable use case. It is also designed to support forums on licensing, investment and more. MRANTI noted that for decades now, the gross domestic product of a nation has been the measure of success, but the United Nations has stated that \u201cinnovation and creativity have become the true wealth of nations in the 21st century. \u201cWe need to foster more value through innovation in advancing the country\u2019s economic and social development \u2013 more so, as intellectual property and innovation translates into tangible and intangible wealth,\u201d Dzuleira explained. Additionally, MRANTI exchanged two separate memorandum of understanding (MoU) with pharmaceutical giant AstraZeneca and the Eastern Academic Health Science Network (EAHSN) \u2013 a United Kingdom (UK) government linked company funded by the National Healthcare Service (NHS) and the Office for Life Sciences. These initiatives bring together academia, citizens, health services and industry to realize the value of healthtech innovations more quickly. Amongst others, AstraZeneca will consider viable local innovators to be included in its exclusive A. Catalyst network. This is an interconnected and dynamic global network of more than 20 AstraZeneca health innovation hubs, made up of physical locations and virtual partnerships. MRANTI, appointed as the exclusive partner for the A. Catalyst program in Malaysia, will funnel Malaysian innovators to a global network of healthcare players, providing them access to conduct clinical or real-world evidence and evaluation through AstraZeneca networks worldwide, and EAHSN\u2019s reach in the United Kingdom. This includes research and development activities, market access, strategic partnerships and joint ventures and other business growth activities. MRANTI meanwhile, will lend its experience in running Sandbox and capability programs, to allow innovators, researchers, start-ups and high-tech entrepreneurs to develop and test their products, services, business models and delivery mechanisms in a safe, live environment. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Centre (MaGIC), is Malaysia\u2019s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact. The agency serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialize and scale. It offers innovators and industry access to integrated infrastructure, programs, services, facilities and a suite of resources. It aims to expand Malaysia\u2019s funnel of innovation supply, and unlock new research and development (R&D) value by ensuring effective transitions in the commercialization lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters. MRANTI partners pitchIN to boost Malaysian startups"}, {"url": "https://technode.global/2023/08/09/antler-appoints-serial-entrepreneur-frank-kang-as-associate-partner-and-country-head-for-malaysia/", "page": 20, "title": "Antler appoints serial entrepreneur Frank Kang as Associate Partner and Country Head for Malaysia", "contents": "Singapore-based venture capital firm Antler said in a statement that this senior-level appointment further strengthens Antler\u2019s commitment to investing in early-stage startups and backing exceptional founders in the region. According to the statement, Kang will be taking the role of Country Head to spearhead the company\u2019s investment strategy and operations in Malaysia. Leveraging his extensive entrepreneurial experience across various industries, he will play a pivotal part in empowering Malaysian founders to think globally and scale their businesses beyond borders. Headquartered in Kuala Lumpur, Antler is aiming to invest in over 30 startups across Malaysia over the next three years. The very first residency program in Malaysia is set to commence in October 2023. At present, Antler is one of the most active early-stage investors globally and has invested in over 792 companies across 26 cities worldwide, amassing a cumulative portfolio value of $3.7 billion. As a serial entrepreneur, Kang brings Antler an extensive 17 years of entrepreneurial skills across various industries. His entrepreneurial journey began when he co-founded a social networking service at the age of 23, for which he secured investment from the Japanese multinational investment holding company, SoftBank. Subsequently, he ventured into Silicon Valley to bring Twitter services to Korea. His venture led to the establishment of one of the largest Twitter directories in Korea, with over two million users at the time. Back in Malaysia, he acquired the leading e-commerce platform, everyday. com. my (later rebranded to LivingSocial Malaysia), and expanded the team from seven to more than 160 employees. Thereafter, he founded Althea, Korea\u2019s premier beauty platform with digitally native vertical brands. Althea managed to raise funds from global institutional investors. Prior to his appointment with Antler, Kang was the Venture Partner of Vynn Capital and was an Angel Investor and Advisor. \u201cBeing a senior school year dropout and having experienced both failure and success early in my career, I\u2019m excited to support founders to build and scale meaningful businesses that can bring positive impact to the world,\u201cI believe local talents in Malaysia have a huge potential and we will be able to help them think globally,\u201d said Kang. Antler (Asia) Co-Founder and Managing Partner Jussi Salovaara said the appointment came as the management strengthens the firm globally across 26 cities including Malaysia. \u201cAntler is committed to supporting entrepreneurs and pursuing our vision of making progress inevitable,\u201d he said. With Kang\u2019s proven track record of building scalable businesses in Asia, she opined that his vast experiences are bound to expand the entrepreneurial impact of Malaysians across borders. Antler is a global early-stage venture capital firm that invests in the world\u2019s most driven founders from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, the firm partners with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. The firm has offices globally across most major entrepreneurial hubs in 26 cities, including Malaysia, Singapore, Jakarta, Ho Chi Minh, Austin, New York, London, Berlin, Stockholm, Bangalore, Seoul, Tokyo, and Sydney. Its global community backs people from the beginning with co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. Fueled by a personal passion that goes beyond traditional investing, the firm has helped create and invest in more than 800 startups across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030. Specializing in \u2018Day Zero investing\u2019, the firm takes a distinctive approach to fostering startup success. The firm is committed to supporting founders throughout their journey, starting from the pre-seed stage and extending all the way to Series A and beyond. This includes support in co-founder matching, deep business model validation, provision of initial capital, expansion assistance, and securing follow-on funding. With the firm\u2019s comprehensive investment approach, startups are backed from their very earliest days through significant growth phases. Singapore\u2019s Antler partners Khazanah to launch and invest in Malaysia"}, {"url": "https://technode.global/2023/08/07/chinas-eve-energy-builds-422m-ev-batteries-manufacturing-facility-in-malaysia/", "page": 21, "title": "China\u2019s EVE Energy builds $422M EV batteries manufacturing facility in Malaysia", "contents": "EVE Energy Co. Ltd. EVE Energy and Malaysian Investment Development Authority (MIDA) said in a joint statement that the new factory, which will be EVE\u2019s 53rd, will focus on the production of cylindrical lithium-ion batteries to support power tools and electric two-wheelers manufacturing in the country and across Southeast Asia. EVE Energy Malaysia Sdn. Bhd. Director Joe Chen said that relying on EVE\u2019s domestic advantages and operational experience, the firm will build a cylindrical battery production base in Malaysia to support the electric two-wheelers and power tools in Malaysia. According to him, this initial project will be constructed in phases, and the construction period will not exceed three years. \u201cThis is an important milestone for EVE to expand our global businesses, enhance our comprehensive competitiveness and to further grow our global market share, \u201cAnd most importantly, to let us contribute to the development of electrical power ecosystem in Malaysia,\u201d he added. MIDA Deputy Chief Executive Officer (Investment Development) Ms. Lim Bee Vian said that the investment marks a crucial milestone that not only benefits EVE but also paves the way for more companies to invest in Malaysia in EV industry and its ecosystems. \u201cBy collaborating with industry leaders like EVE, we can foster an environment of innovation and technological advancement,\u201d she said. She also said this project aligns perfectly with Malaysia\u2019s Twelfth Malaysia Plan (12MP) and the National Automotive Policy 2020 (NAP), as the country is committed to achieving net-zero greenhouse gas emissions by 2050. \u201cBy establishing this cylindrical battery manufacturing plant in Malaysia, we demonstrate our commitment to competitiveness in the international market,\u201d she said. She also said the country\u2019s robust ecosystem, supported by strong research and development (R&D) and standards facilities (through agencies like SIRIM), along with a thriving components\u2019 sub-sector, positions the country to cater to the entire EV value chain. Established in 2001, EVE was first listed on Shenzhen GEM in 2009. After 22 years of rapid development, Ethe firm is now a global lithium battery company which possesses core technologies and solutions for consumer batteries, power batteries and energy storage batteries. MIDA is Malaysian government\u2019s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in the country. The agency has 12 regional and 21 overseas offices. Tesla to invest in Malaysia, boosting the country\u2019s sustainable mobility"}, {"url": "https://technode.global/2023/08/07/malaysias-tnb-partners-laoss-edl-to-boost-cross-border-renewable-energy-trade/", "page": 21, "title": "Malaysia\u2019s TNB partners Laos\u2019s EDL to boost cross-border renewable energy trade", "contents": "Malaysian electricity utility firm TNB said in a statement on Sunday that the has presented a letter of intent (LOI) to EDL to forge a collaboration in facilitating cross-border trade and human capital development, as part of its ongoing drive to strengthen the ASEAN Power Grid (APG) interconnectivity and to reinforce TNB Power Generation Sdn Bhd (TNB Genco) presence as the power generation arm in ASEAN countries. Under the LOI, TNB is keen to form a Joint Collaboration Committee to optimize resource utilization, bolster energy security, and promote knowledge and expertise sharing through innovative mechanisms for energy exchange, leveraging TNB\u2019s educational and research institutions.  This initiative further strengthens TNB\u2019s strategic partnerships and the execution strategy with major energy players as TNB Genco-EDL has signed a Memorandum of Understanding (MoU) to explore investment and offtake opportunities for renewable power projects in Laos.   The collaboration will also investigate the feasibility of exporting the renewable power generated in Laos to Malaysia via the Laos-Thailand-Malaysia Power Integration Project (LTMPIP) or any other arrangements, with a projected trade value of RE export from Laos between MYR 460 million ($101 million) for 200MW in 2025 and a potential trade value up to MYR 2.3 billion ($500 million) for 1,000MW beyond 2030.  TNB President and Chief Executive Officer Indera Ir. Baharin Din said that the firm believes that EDL\u2019s influential role in the Laos power sector makes it an ideal partner as the collaborative approach would enable both parties to develop mutually beneficial projects that can capitalize on both strengths. As the demand for renewable energy sources continues to grow, he said EDL\u2019s influential role in Laos\u2019 power sector makes it an ideal partner to explore such opportunities. Stating the pivotal role of human capital development in sustaining and advancing the energy sector, he also said TNB has its own educational and research institutions: TNB Integrated Learning Solution (ILSAS), an institute offering technical training programs; Universiti Tenaga Nasional (UNITEN), a university providing energy-focused courses; and TNB Research Sdn Bhd, a research house specialising in Research & Development (R&D) expertise.   \u201cBy promoting the exchange of expertise and fostering cooperation in research and development, these institutions can create a skilled workforce that drives innovation and tackles industry challenges, \u201cThis approach can be utilized to encourage knowledge sharing and collaboration between TNB and EDL,\u201d Baharin said. He also said TNB is ready to be Laos\u2019 strategic partner, fostering growth as Laos is the \u2018Battery of Southeast Asia. This is also in line with TNB\u2019s commitment to meeting its environmental, social and governance (ESG) targets, accelerating the Energy Transition and achieving Net Zero emissions by 2050, he said. Besides, he said TNB is also always open to collaborating with EDL in any other areas of the energy sector. \u201cIn line with our vision, as we seek to provide sustainable energy solutions for the region and beyond, we are also developing various opportunities in renewables and clean energy to capture growing market demand,\u201cThis partnership will enhance TNB\u2019s ongoing drive to strengthen APG interconnectivity and reinforce TNB Genco as the power generation arm of TNB with a presence in ASEAN countries,\u201d he concluded. Malaysia\u2019s TNB inks partnerships with energy players in Vietnam and Laos for renewable energy"}, {"url": "https://technode.global/2023/08/07/ni-hsin-ev-tech-plans-for-ieo-fundraising-through-utility-tokens-issuance-for-ev-business/", "page": 21, "title": "Ni Hsin EV Tech plans for IEO fundraising through utility tokens issuance for EV business", "contents": "Ni Hsin EV Tech Sdn Bhd (NH EV TECH)NH EV TECH said in a bourse filing on Monday that the firm has signed IEO agreement with IEO Operator Pitch Platforms Sdn Bhd and service agreement with service provider Masverse Sdn Bhd. Under the agreements, Pitch Platforms will provide its IEO services to NH EV TECH with the end objective of hosting the company on its licensed IEO platform (pitchIN). Meanwhile, Masverse will conduct in-depth analysis and design the tokenomics for NH EV TECH\u2019s utility token for its IEO pitchIN. \u201cNH EV TECH\u2019s venture into EV two-wheelers has gained traction and we are making good progress in terms of promoting the transition from ICE two-wheelers to EV two-wheelers in support of reducing carbon emissions, creating green economy and achieving sustainability,\u201d said Khoo Chee Kong, Managing Director of NH EV TECH. He said the firm has received very encouraging interests and feedback from its engagements with various government departments and agencies as well as corporate entities on the use of EV two-wheelers in security, surveillance, enforcement as well as operational functions. \u201cWe foresee healthy growth prospects for our EV two-wheeler business, not just in outright sales of the products but the rent-to-own, rent-to-use and ride sharing business models. In line with the forecasted growth, we need to expand our manufacturing and operational capacities,\u201cTo finance this expansion, we are proposing to raise funds via the issue of utility tokens which will be hosted on the IEO platform, pitchIN, which is registered and recognized by the Securities Commission Malaysia,\u201d he addedMeanwhile, pitchIN Chief Executive Officer Sam Shafie said the firm values innovation and clarity, and it sees great potential in this approach. According to him, the issuance of an IEO utility token is a perfect fundraising mechanism for projects that aim to create and accelerate a community ecosystem. Furthermore, he said this is a high impact EV project that will bring about positive changes to our transport system.  \u201cpitchIN has led the way in equity crowdfunding (ECF) fundraising in Malaysia. We have raised the most funds and hosted the highest number of companies,\u201cWe aim to replicate our success with our new IEO services,\u201d he added. Like all other pitchIN fundraising projects, he said the proposed NH EV TECH utility token will undergo rigorous due diligence and screening processes before it is launched to the public on its IEO platform. Masverse Chief Executive Officer Chiew Kian Kok said that the tokens issued by NH EV TECH are utility tokens, which means they have practical functionalities within a specific ecosystem, rather than being investment-oriented securities. \u201cIn the IEO market, utility tokens are expected to gain new premium space as investors recognize their actual use cases and potential value within specific projects or platforms,\u201d he said.  He also noted that tokenomics will play a crucial role in providing sustainability for utility tokens, helping to foster project development and increase holder participation. Additionally, he said Tokenomics will offer new financial means for product enthusiasts to benefit from participating in the project ecosystem, gaining profits or ownership rights. \u201cThis innovative financial model will bring more possibilities for participants while supporting the success and growth of the project, \u201cTherefore, with the new role of Tokenomics, the value of utility tokens will continue to be acknowledged and driven within the IEO market and ecosystem,\u201d he added. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of EV and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. PitchIN is Malaysia\u2019s Digital Fundraising and Investment Hub, and also a registered market operator with the Securities Commission Malaysia. PitchIN has raised nearly MYR 300 million ($65.79 million) with over 160 successful ECF campaigns under its belt. As of June 2023, pitchIN\u2019s IEO platform was given the official go-live status. Through this platform, pitchIN aims to connect promising companies to a wide range of investors in a regulated and safe environment. Masverse is a Malaysian start-up pioneering in Web 3.0 technology that offers blockchain and Web 3.0 infrastructure solutions to different industries and sectors. The firm\u2019s one-stop Web 3.0 ecosystem provides smart contract and blockchain technology solutions to Malaysian communities. Masverse is also working closely with the Education Department of Kuala Lumpur to drive the development of Web 3.0 education, equipping students with the necessary skills and knowledge to thrive in the digital age and has delivered Web 3.0 education micro-credential course with non-fungible token (NFT) certificates in collaboration with Asia Pacific University of Technology and Innovation (APU). Ni Hsin EV Tech partners foodpanda Malaysia for greener food delivery with EV motorcycles"}, {"url": "https://technode.global/2023/08/05/qalbox-partners-astro-to-offer-an-muslim-focused-entertainment-content-in-malaysia/", "page": 21, "title": "Qalbox partners Astro to offer Muslim-focused entertainment content in Malaysia", "contents": "Subscription video on demand (SVOD) entertainment streaming service Astro said in a statement on Thursday that in line with Muslim Pro\u2019s aim of becoming the digital home for all things Muslim, this strategic alliance represents a pivotal moment in the country\u2019s entertainment landscape, offering Astro\u2019s customers an unparalleled selection of enriching Muslim-centric content, elevating the entertainment experience for viewers across the country. Under this collaboration, Qalbox will be available on all Astro Ultra and Ulti Boxes as an add-on, offering an extensive array of content for the Muslim community. As part of this strategic partnership, Astro customers who own an Ultra/Ulti Box will enjoy an exclusive two-month complimentary subscription to Qalbox, along with a Muslim Pro subscription, starting from July 27 2023 until September 26 2023. Since the inception of Qalbox, which is readily accessible within the Muslim Pro app, on web and TV, Muslim Pro has consistently demonstrated a deep commitment to investing in the Malaysian market. Acknowledging the nation\u2019s young and tech-savvy Muslim population and the government\u2019s vision of establishing Malaysia as a tech hub for Islamic content, Muslim Pro launched Qalbox in Kuala Lumpur in December 2022. The latest collaboration with Astro further strengthens Muslim Pro\u2019s dedication to serving the Muslim community in Malaysia by enhancing accessibility for users. This partnership enables a more dedicated and seamless experience, ensuring that Muslim-focused content is readily available to a wider audience, enriching the entertainment landscape in Malaysia. \u201cWe are thrilled to collaborate with Astro, Malaysia\u2019s leading entertainment provider, to expand Qalbox\u2019s reach and impact within the Malaysian audience,\u201d said Fara Abdullah, co-Chief Executive Officer of Muslim Pro. She said that through this partnership, the firm\u2019s vision of establishing ourselves as a global Muslim content and entertainment hub and providing a platform for Muslim creatives and filmmakers becomes more concrete. \u201cWith our diverse content offerings, we are confident that Qalbox will deeply resonate with the Malaysian audience, delivering an unparalleled entertainment experience,\u201d she added.  According to the statement, Qalbox continuously aims to showcase Muslim identities and how faith is integrated in everyday lifestyles of Muslims via a comprehensive scope of genres, including iconic feature films, binge-worthy series, enlightening Islamic-focused documentaries, children\u2019s animations, reality TV and much more. \u201cWe are excited to announce Muslim Pro\u2019s Qalbox on our platform, further enriching our suite of the best global streaming apps,\u201d said Shafiq Abdul Jabbar, Astro\u2019s Group Chief Financial Officer. According to him, the firm\u2019s Muslim viewers can enjoy Muslim-centric content with the addition of over 1,000 hours of Qalbox\u2019s SVOD content available for streaming on its Ultra and Ulti Boxes. \u201cWe now have compelling content from 12 streaming apps, including our own Astro GO app, which is complimentary to all customers, \u201cWe are delighted to have this venture with Muslim Pro, the world\u2019s most popular Muslim lifestyle app, and believe this will further complement Astro\u2019s robust content offering, from Astro Signatures and Astro Originals, to the best in live sport and news, to children\u2019s animation and now the rich diversity of Muslim cultures globally, all within a simple touch of a button, he added. According to the statement, both Astro and Muslim Pro are dedicated to nurturing a community of entertainment enthusiasts who find joy in culturally diverse and spiritually enriching content. It said that this partnership is set to redefine entertainment for the Malaysian audience, providing a dedicated space that celebrates Muslim culture and identity within the comfort of their homes. The Muslim Pro app is a popular Muslim lifestyle app with more than 150  million downloads worldwide in over 190 markets. Starting in 2010 as a mobile application with a founding ambition of providing accurate prayer times for the Muslim community, Muslim Pro has grown with the evolving needs of its users into a comprehensive app serving millions of users. The app\u2019s main features support the religious needs of users through its accurate prayer times and tracker, azan (call to prayer), full audio of the Holy Quran, qibla compass, Hijri calendar, zakat (alms) calculation, as well as lifestyle-inspired content such as its stories, inspiration and community features that cater to the diverse interests of the global Muslim community. Astro is a content and entertainment company, serving 5.5 million homes or 69 percent of Malaysian TV households, 8,600 enterprises, 18 million weekly listeners across FM radio and online, 7.8 million digital monthly unique visitors and 3.3 million shoppers across its TV, radio, digital and commerce platforms. The firm serves Malaysians with three distinct services \u2013 Astro Pay-TV, NJOI Prepaid and sooka, its own over-the-top (OTT) for the millennials; and Astro Fibre, its own broadband service. Singapore-based Bitsmedia announces significant milestone with 150 million downloads for its global lifestyle app"}, {"url": "https://technode.global/2023/08/04/gentari-partners-bmw-group-malaysia-for-green-mobility-and-renewable-energy/", "page": 21, "title": "Gentari partners BMW Group Malaysia for green mobility and renewable energy", "contents": "Malaysian clean energy solutions provider Gentari said in a statement on Friday that the firm via its wholly-owned subsidiary, Gentari Green Mobility Sdn Bhd, has signed a Memorandum of Understanding (MoU) with BMW. Gentari and BMW are currently actively working together to explore potential collaborations in areas such as installation of electric vehicle (EV) charging infrastructure at various facilities, including among others, the BMW network of dealerships; various EV fleet solutions in the Malaysia market; value-added services for BMW EV owners including EV charging subscription plans, electric forecourts, portable charging and mobile charging services; and deployment of joint renewable energy infrastructure. \u201cWe are thrilled to collaborate with a prestigious automotive brand like BMW to expand the accessibility of green mobility services and solutions in Malaysia,\u201cAdditionally, Gentari\u2019s capabilities in renewable energy will also help to establish a more comprehensive green electron value chain and together, we can pave the way for a greener and more sustainable future,\u201d said Shah Yang Razalli, Deputy Chief Executive Officer of Gentari and Chief Executive Officer of Green Mobility Sdn Bhd. Hans de Visser, Managing Director, BMW Group Malaysia, meanwhile, said that as the leading premium automaker offering the largest portfolio of EVs in Malaysia, BMW is pleased to collaborate with Gentari to develop more mobility solutions, services as well as infrastructure to drive more clean and responsible technology and practices for the automotive industry here. \u201cI can already envision this partnership shaping the future mobility landscape of Malaysia, offering more solutions created through the means of sustainable development and circularity,\u201d he said. Since its introduction in June 2022, Gentari has rapidly expanded its green mobility network. To date, Gentari through its affiliated entities, has deployed over 160 charging points in Malaysia and over 170 charging points in India. With a mission to be Asia Pacific\u2019s most valued clean energy solutions partner by 2030, Gentari aims to capture over 10 percent market share of charge points and Vehicle-as-a-Service (VaaS) offering, across key markets in Asia Pacific. Malaysia\u2019s Gentari partners KPJ Healthcare to offer clean energy solutions"}, {"url": "https://technode.global/2023/08/04/bsn-collaborates-with-visa-to-spur-e-commerce-among-micro-smes-in-malaysia/", "page": 21, "title": "BSN collaborates with VISA to spur e-commerce among micro-SMEs in Malaysia", "contents": "Malaysian lender Through this partnership, BSN and Visa have committed to nurturing micro-small and medium-sized enterprises (SMEs) in a digital commerce training program called \u2018Accelerate My Business\u2019 (AMB), the duo said in a statement on Thursday. According to the statement, the training is intended to drive the adoption of digital disbursement solutions which will provide micro SMEs with better financial literacy to explore more significant financing to boost their businesses. The training program will be divided into two module workshops aimed to digitize the knowledge of 750 selected BSN micro-SMEs, empowering them for the next phase of their business journey. This comprehensive initiative comprises a total of 27 sessions conducted across 13 different locations nationwide, encompassing both Sabah and Sarawak regions in Malaysia. During these workshops, micro-SMEs will be equipped with essential entrepreneurial skills, covering diverse areas such as business management, financial literacy, operational efficiency, and digitalization strategies. To cater to the diverse needs and challenges of participants, the program will be categorized based on their entrepreneurial expertise \u2013 beginner and seasoned stages. Additionally, the AMB learning platform will play a crucial role in providing practical guidance to the participants, offering various resources. This includes interactive activities, worksheets, self-assessment tools, glossaries, and supplementary materials to support them throughout their entrepreneurial journey. BSN Chief Executive Jay Khairil said that the firm has always been mindful of the community\u2019s needs by diversifying its product and service offerings tailored to various segments. \u201cWe have also integrated financial education resources and programs within our services to ensure our customers can access vital financial insights and practical advice, \u201cHence, the strategic partnership with Visa is timely and coincides with our aim to drive digital transformation among micro-SMEs for enhanced operational efficiency and competitive advantage in today\u2019s dynamic business landscape,\u201d he added. Visa Country Manager for Malaysia Ng Kong Boon said that the firm sees micro and small businesses as the backbone of Malaysian economy. He said the firm shares a common goal with BSN in empowering these enterprises with resources and tools to uplift their businesses and livelihoods, ultimately creating a ripple effect throughout their communities. \u201cBy continuing to build on this foundation with greater financial and business knowledge, we can help them find new growth and thrive,\u201d he said. Cited Visa\u2019s recent Back to Business study, the statement said 90 percent of small businesses are optimistic about their future. In addition, of small businesses surveyed with an online presence, nine in ten agreed their survival through the pandemic was due to increased efforts to sell via e-commerce. The training will commence from August 2023 until March 2024. Incorporated in 1974, BSN currently has 7,504 employees, supported by 389 branches in Malaysia. The bank has over 9 million customers in the coutnry with retail deposits amounting to MYR 19.90 billion ($4.37 billion) as of June 2023. BSN offers a wide range of conventional and Islamic products including savings, financial asset management, business and personal financing and credit cards products. Visa is the world\u2019s leader in digital payments. Its advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. Singapore\u2019s Thunes extends Series C funding to $72M with support from Visa, EDBI, Endeavor Catalyst"}, {"url": "https://technode.global/2023/08/04/this-malaysian-startup-offering-cafe-syrup-with-zero-sugar-plans-to-expand-regionally/", "page": 21, "title": "This Malaysian startup offering cafe syrup with zero sugar plans to expand regionally", "contents": "Malaysia-based food tech startup \u201cWe are planning to get halal certification for our Timi Syrup so that we can approach well-establish cafes. We are also planning to export to neighbouring countries and planning to expand our business by producing other food products such as ready-to-drink, sports drink, sauces and other household products,\u201d Atirah Danial told Timi Syrup is a syrup sweetener produced with zero white sugar and also with lesser calories than normal syrup used in cafes. She said the company plans to prioritize business-to-business (B2B) segment. \u201cWe will be focusing on Timi Syrup. Once our brand is well known, we will continue our business-to-consumer (B2C) segment which is with our cordials, sweetener droppers and sweetened condensed milk,\u201d she added. \u201cOur business model for Timi Syrup would be B2B. We will be dealing with cafes and distributors. \u201d\u201cWe are targeting cafes, restaurants and bars because they use high volume of syrup sweetener. We are currently a small company, once we are stable enough, we would love to establish our brand and hit the B2C market segment. \u201dManis Leting is one of the winners in the 1337 Ventures\u2019 Alpha Startups Pre-Accelerator Demo Day. The food tech firm produce sweetener products in a bid to help the food and beverage industry to reduce the use of white sugar. Manis Leting will receive pre-seed funding of up to MYR50,000 (US$10,969). Atirah said the funding received will be used for certifications, patent submission, producing samples to be given out to cafes, marketing as well as operations. \u201cWe look forward to the opportunity to work with people with the same goals as us as well as other entrepreneurs. We do see that maintaining production as well as customer relationships could be a challenge in the future. However, we plan to ensure it will be prioritized when the business is up and running. \u201d1337 Ventures Founding Partner Bikesh Lakhmichand explained the potential the VC firm sees in Manis Leting. \u201cIt is a known fact that diabetes and obesity is a problem plaguing not only Malaysians, but Southeast Asians. Coupled with the rise of cafes in Malaysia, together with an increase of health-conscious consumers, we believe the timing is ripe for Manis Leting\u2019s patented zero sugar formulation for their caf\u00e9 syrup,\u201d he told Unlike other sweeteners in the market, Bikesh said Timi Syrup is able to mimic the same recognisable taste, while having 30 percent less calories than alternatives, and even without a premium in cost. \u201cWe believe that with the right timing and solution, we will be able to help Manis Leting grow quickly,\u201d he said. \u201cOur main plan is to help them move from [having]\u2019a product to a business\u2019. This is through professionalizing and putting in place systems to optimize their operations and financials, together with creating efficient go-to-market strategies through B2B sales and partnerships,\u201d he added. Manis Leting and Triphie tops the 1337 Ventures\u2019 Alpha Startups\u2122 Pre-Accelerator"}, {"url": "https://technode.global/2023/08/03/germanys-infineon-invests-up-to-5-46b-to-build-200-millimeter-sic-power-fab-in-malaysia/", "page": 21, "title": "Germany\u2019s Infineon invests up to $5.46B to build largest 200-millimeter SiC Power Fab in Malaysia", "contents": "Germany\u2019s semiconductor manufacturerInfineon said in a statement on Thursday that over the next five years, the firm will additionally invest up to EURO 5 billion ($5.46 billion) in Kulim during a second construction phase for Module Three. According to the statement, the investment will lead to an annual SiC revenue potential of about EURO 7 billion ($7.65 billion) by the end of the decade, together with the planned 200-millimeter SiC conversion of Villach and Kulim. This highly competitive manufacturing base will support Infineon\u2019s SiC market share target of 30 percent towards the end of the decade. Infineon is also confident that the company\u2019s SiC revenue in the fiscal year 2025 will come in ahead of the target of EURO 1 billion ($1.09 billion). According to the firm, the decarbonization trend will result in strong market growth for power semiconductors, in particular those based on wide bandgap materials. As a leader in power systems, it said the firm is now taking a further, decisive step to shape this market by significantly expanding its Kulim fab \u2013 over and above the original investment announced in February 2022. \u201cThe market for silicon carbide shows accelerating growth, not only in automotive but also in a broad range of industrial applications such as solar, energy storage and high-power electric vehicle (EV) charging,\u201cWith the Kulim expansion, we will secure our leadership position in this market,\u201d said Jochen Hanebeck, Chief Executive Officer of Infineon. With the industry\u2019s leading scale and a unique cost position, he said the firm is leveraging its competitive position of best-in-class SiC trench technology, the broadest package portfolio and unrivaled application understanding. He noted that these factors are the areas of differentiation and success in the industry. According to the statement, the planned expansion is backed by customer commitments covering about EURO $5 billion ($5.46 billion) of new design-wins in automotive and industrial applications as well as about EURO 1 billion ($1.09 billion) in pre-payments from existing and new customers. In the automotive sector, this includes six original equipment manufacturer (OEMs), three of them from China. Among the customers are Ford, SAIC and Chery. In the area of renewable energies, customers include SolarEdge and three leading Chinese photovoltaic and energy storage systems companies. In addition, Infineon and Schneider Electric have agreed on a capacity reservation including prepayments for power products based on silicon and silicon carbide. Infineon and the respective customers will provide more details in separate announcements in the near future. According to the statement, the prepayments will contribute positively to Infineon\u2019s cash flow in the coming years and shall be fully repaid in connection with the agreed sales volumes by 2030 at the latest. \u201cMalaysia is putting in maximum efforts to meet its national target to decarbonize its economy and achieve net zero by 2050, \u201cMalaysia\u2019s continued appeal as a preferred investment destination comes with a well-established landscape for developing innovative and sustainable technologies,\u201d said Anwar Ibrahim, Prime Minister of Malaysia. In this vein, he said Infineon\u2019s vision on green technology and sustainability puts it right at home in Malaysia. He also said Infineon and other well-established German corporations\u2019 continued faith in Malaysia is a vote of confidence in Malaysia\u2019s new economic growth agenda premised on inclusivity and sustainability, enabled by strong policies on knowledge transfer, quality investments, business enablement and socio-economic well-being based on equitable sharing of the nation\u2019s wealth. The Minister of Investment, Trade and Industry (MITI) Tengku Zafrul Aziz also said that Infineon\u2019s expansion of their world-class silicon carbide facility in Kulim marks a significant milestone in Malaysia\u2019s pursuit of developing advanced manufacturing capabilities.  He said this investment will create high-skilled employment opportunities and positioning the country at the forefront of enabling green technologies, which are crucial to achieving its global sustainable development goals. \u201cThe innovative power semiconductor technologies manufactured in the SiC Power Fab will also bolster Malaysia\u2019s position as a key player in the world\u2019s semiconductor ecosystem, with a growing role specifically in the sustainable technology supply chain,\u201d he said. It is noted that sustainability is a key element in the planning, construction and operation of the fab. The building is designed in a way that allows Infineon to make responsible use of resources such as electricity and water. Listed in Germany and United States, Infineon is a global semiconductor leader in power systems and internet of things (IoT). The firm drives decarbonization and digitalization with its products and solutions. It has around 56,200 employees worldwide and generated revenue of about EURO 14.2 billion ($15.51 billion) in the 2022 fiscal year ended September 30. Bosch invests $384M for new semiconductor backend site for chips in Malaysia"}, {"url": "https://technode.global/2023/08/03/soft-space-hong-leong-bank-and-jcb-expand-jcb-card-acceptance-in-malaysia/", "page": 21, "title": "Soft Space, Hong Leong Bank and JCB expand JCB card acceptance in Malaysia", "contents": "Malaysia-based fintech-as-a-service provider The trio said in a statement on Wednesday that as the Malaysian economy continues to grow positively in 2023, tourism has emerged as one of the brightest sectors spearheading the recovery process, with Japan listed as one of the top ten contributors to tourist arrivals and spending in Malaysia. They noted that Malaysia targets to welcome 16.1 million international tourist arrivals and generate MYR 49.2 billion ($10.89 billion) in tourist receipts in 2023. To capitalize on this bright recovery prospect, Soft Space and JCBI recently signed an agreement to enable Soft Space to work with local acquirers, such as HLB, to promote JCB Card acceptance in Malaysia. Sofitel Kuala Lumpur Damansara, a hotel in Kuala Lumpur, is one of HLB\u2019s merchants that has begun accepting JCB Card payments. \u201cAs Japanese tourist arrivals in Malaysia begin to ramp up again, we are pleased to be able to enable and promote cross-border payments between Japan and Malaysia via our partners,\u201d said Joel Tay, Chief Executive Officer of Soft Space. According to him, this merely represents a first step in the firm\u2019s ambition to roll out similar agreements in Southeast Asia, boosting JCB Card acceptance and riding on the wave of increasing contactless card payments in the region. Meanwhile, JCBI President and Chief Executive Officer Yoshiki Kaneko said that the firm decided to expand the collaboration with another global leader who shares similar values in enhancing user experience through state-of-the-art technological application. According to him, Malaysia has been an important destination country for the firm\u2019s card members across the regions. Thus, he noted that establishing a partnership with HLB is a huge step forward for the expansion of JCB acceptance network in Malaysia. \u201cWe can now better serve JCB Card members coming to Malaysia not only from Japan, but also from the ASEAN region where we have more than 10 million card members,\u201d he said. Leveraging on today\u2019s success, he said the firm is further strengthening its presence in the entire ASEAN region through this partnership with Soft Space. HLB Personal Financial Services Managing Director Andrew Jong, on the other hand, said that this partnership with JCB and Soft Space signifies the bank\u2019s commitment to providing financial products and services that are centerd around the needs of both its merchants and their customers. \u201cThis partnership will enable us to serve the customers who are increasingly going cashless as well as help our merchants increase their sales and customer transaction value,\u201d he said. According to the statement, the agreement showcases the partnership progress between JCB and Soft Space since the former investment in the fintech in January 2022. This includes a series of business collaborations that are aimed at leveraging on Soft Space\u2019s fintech-as-a- service business model, technology and regulatory knowhow, and JCB\u2019s global recognition, vast alliances and brand reach. It noted that the promotion of JCB Card acceptance in Malaysia also signals the expansion of its merchant network, the establishment of card issuing solutions, and the provision of customer marketing solutions in Malaysia, and later in Southeast Asia. Founded in 2012, Soft Space is a SoftPOS player that simplified the complexity of financial infrastructure and creates value-added features for businesses to expand theirWith over 70 financial institutions and partners across 23 global markets adopting its payment solutions, Soft Space is supported by Malaysia Digital Economy Corporation (MDEC)\u2019s Global Acceleration and Innovative Network (GAIN) program and received financial support through MIDA\u2019s Domestic Investment Strategic Fund in 2014. JCB is a major global payment brand and a credit card issuer and acquirer in Japan. The firm launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 43 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 154 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of banks and financial institutions globally to increase its merchant coverage and cardmemberHLB is a subsidiary of Hong Leong Financial Group Berhad, the financial services arm of the Hong Leong Group. The bank provides financial services covering consumer banking, business banking and trade finance, treasury, branch and transaction banking, wealth management, private banking and Islamic financial services. The bank has branches in Singapore and Hong Kong and wholly owned subsidiaries in Vietnam and Cambodia. In China, the Bank is a substantial shareholder in Bank of Chengdu Co. , Ltd. , Sichuan. Malaysia\u2019s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group"}, {"url": "https://technode.global/2023/08/03/funding-societies-partners-cgc-digital-to-support-msmes-via-digital-supply-chain-financing-guarantee/", "page": 21, "title": "Funding Societies partners CGC Digital to support MSMEs via digital supply chain financing guarantee", "contents": "Singapore-based digital financing platform The partnership aims to provide digital credit guarantee through a Shariah-compliant digital supply chain financing (DSCF) solution to better address the financing needs of Malaysian micro and small enterprises who are also the most underserved segments, the duo said in a statement on Thursday. According to the statement, both parties have signed the Memorandum of Understanding (MoU) that showed their commitment to collaborate on a proof of concept (POC) project and innovate products that could enable wider financing access for underserved and unserved MSMEs. Through the partnership, CGC Digital will develope a new digital credit guarantee product for CGC that will be offered for financing up to MYR 4 million ($880,000) as a start, benefiting up to 100 creditworthy micro and small enterprises via Funding Societies\u2019 industry leading DSCF solutions, leveraging alternative data for MSMEs\u2019 credit risk assessment. \u201cFollowing our entry into the small and medium-sized enterprise (SME) portfolio guarantee program of CGC in April this year, we are fortifying this collaboration with CGC Digital,\u201d said Wong Kah Meng, Group Chief Operating Officer, Funding Societies | Modalku. According to him, the digital-first approach leverages alternative data, enabling MSMEs with broader and more affordable access of MSMEs to digital guarantee and transformative financing. He noted that CGC Digital\u2019s innovation of CGC\u2019s credit guarantee would mitigate risk for investors and reduce cost of financing for MSMEs. \u201cCombining it with our industry playbook for fast-moving consumer goods (FMCG), agriculture, telecommunications, and wholesale and retail trade segments, we would be able to serve more micro and small enterprises that make up these industry segments,\u201d he added. Meanwhile, CGC Digital Chief Executive Officer Yushida Husin said that CGC Digital broke new ground in this collaboration with Funding Societies, as this MoU signifies their mutual dedication to fostering innovation and co-creating value with MSMEs. \u201cCGC Digital seeks to provide MSMEs with a one-stop digital marketplace for better access to finance and more targeted assistance to scale up, \u201cGiven this, we are committed to collaborating with like-minded strategic partners in the digital ecosystem to accelerate financial inclusion of MSMEs in Malaysia,\u201d she said. According to the statement, financing for micro and small enterprises remains challenging due to the lack of credit history and the nature of the financing, which is smaller ticket size and higher volume of transactions. This presents an exciting opportunity for FinTech companies like Funding Societies and CGC Digital to step in and provide the necessary capital and CGC\u2019s innovative credit guarantee features to meet the unique needs of these segments. By working hand in hand, Funding Societies and CGC Digital can leverage on technology and automation to risk-price more accurately and process financing efficiently, enabling right-priced trade finance products (traditionally reserved for larger businesses) for micro and small enterprises. The announcement comes on the heels of Funding Societies\u2019 MoU signing with CGC in April for a MYR 10 million ($2.19 million) SME portfolio guarantee scheme focusing on business expansion for small and medium-sized enterprises, and most recently, their launch of a comprehensive Islamic Financing solutions including Shariah-compliant micro, trade, and term financings. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. It is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. CGC Digital which was launched in July 2022 aims to advance financial sector digitalization and providing greater access to financing through its digital platform and digital products. Its vision is to drive MSME\u2019s economic growth through innovative, accessible, and efficient financial digital solutions. Funding Societies introduces Shariah-compliant Guaranteed Islamic Investment Note in Malaysia"}, {"url": "https://technode.global/2023/08/02/fwd-startup-studio-accelerator-application-is-open-to-asia-based-startups-to-apply/", "page": 22, "title": "FWD Startup Studio Accelerator application is open to Asia-based startups to apply", "contents": "Application for FWD Startup Studio Accelerator Program is now open, with a focus on Asia-based startups that are venture-backed in insurtech or adjacent verticals. FWD Startup StudioAccording to the statement, the FWD Startup Studio Accelerator aims to bring together the brightest minds in the industry, fostering innovative collaborations and potentially leading to proofs of concept (POC). Thus, aspiring startups seeking to enrich their ventures through a strategic partnership with FWD Insurance in Malaysia are encouraged to apply. \u201cStartups bring new ideas to traditional businesses and industries, which aligns closely with our vision of changing the way people feel about insurance,\u201cThrough our Startup Studio Accelerator as well as TIM Ventures, our venture capital fund, we are keen to identify outstanding startups, work together with them and help them grow, leveraging on our presence in 10 markets across Asia,\u201d said Ryan Kim, Group Chief Digital and Marketing Officer, FWD Group. The accelerator program offers a plethora of benefits for participating startups:Industry expertise: gain unprecedented access to decision-makers within FWD Insurance and esteemed mentors who can provide invaluable guidance, open doors to collaborations, and facilitate partnerships. Acceleration of growth: fast-track the development of collaboration to a real proof of concept (POC) before the accelerator program concludes, giving the startup the momentum it needs to thrive. Fundraising opportunities: connect with prominent investors such as TIM Ventures and 1337 Ventures, expanding network within the investor community. Exceptional collaboration ideas may even unlock the potential for Venture Capital funding. Access to customers and markets: successfully piloting idea in Malaysia could spark interest from other FWD branches in different countries, opening doors to new markets and potential scaling opportunities. Resource support: empower startup with over $20,000 worth of credits on digital infrastructure and cloud services, providing essential resources to fuel your growth. Networking and community: join a vibrant community of like-minded entrepreneurs and global insurtech and adjacent vertical leaders, fostering meaningful connections that could propel startup to new heights. Bikesh Lakhmichand, Founding Partner of 1337 Ventures, said the FWD Startup Studio Accelerator presents an incredible opportunity for startups to engage with FWD Insurance to explore a proof of concept (POC) solution and access to decision-makers and mentors within FWD Group. \u201cWe are eager to support and witness the growth of promising startups in the insurtech and fintech space,\u201d he said. Thus, venture-backed seed stage Asia-based startups who are in the insurtech or adjacent verticals are encouraged to apply and develop a proof of concept (POC) design with FWD Malaysia. The startups who participated in the previous cohorts have walked away from the accelerator better equipped to be game changers within their respective industries. Past participants include; BlueDuck, Kapitani, Finory, Betterteem, Koha, Safyer, Cashku, eHibah, CoreHalal, Du-It, Marion, Protos Labs, uPledge, Warantee and more. Applications are open now, and the deadline for submissions is August 28, 2023. FWD Startup Studio Accelerator will begin on 5 September 2023. FWD Startup Studio is a innovation and accelerator platform that empowers startups to realize their full potential and drive transformative change in the insurance, takaful and adjacent sectors. With a commitment to fostering innovation, FWD Startup Studio provides startups with access to industry expertise, resources, and collaboration opportunities to accelerate their growth. Established in 2012, 1337 Ventures is Malaysia\u2019s accelerator program and early-stage accelerator. Pioneering the design thinking methodology and design sprints in Malaysia, 1337 Ventures has utilized its learning to accelerate the growth of over 2,500 startups from six different countries. 1337 Ventures has launched accelerators for multinational corporations (MNCs) and government-linked companies (GLCs) such as Bank Negara Malaysia, Khazanah Nasional, Telekom, Digi, MDEC, CIMB and Maybank. More recently, 1337 Ventures becomes one of the three new recipients of the equity crowdfunding license from the Securities Commission Malaysia.  FWD to enter Malaysian life insurance market with strategic investment in Gibraltar BSN"}, {"url": "https://technode.global/2023/08/02/ni-hsin-ev-tech-partners-foodpanda-malaysia-for-greener-food-delivery-with-ev-motorcycles/", "page": 22, "title": "Ni Hsin EV Tech partners foodpanda Malaysia for greener food delivery with EV motorcycles", "contents": "Ni Hsin EV Tech Sdn Bhd (NH EV TECH)Ni Hsin said in a statement on Tuesday that both parties have signed a business collaboration agreement for the partnership. Under the agreement, both parties have agreed to collaborate to advance their environmental, social and governance (ESG) agendas. This collaboration aims to reduce carbon emissions, support eco-friendly transportation solutions and promote sustainability within the food industry. The duo aim to achieve this objective through jointly promoting and encouraging sustainable consumption among the riders within foodpanda Group by adopting EBIXON EV motorcycles in place of the current internal combustion engine (ICE) motorcycles. To incentivize and encourage foodpanda riders to use EBIXON EV motorcycles, NH EV TECH will be giving foodpanda Malaysia two complementary units of its EBIXON BOLD motorcycles, as well as discounts to foodpanda delivery partners who want to do their part in lowering carbon emissions with an electric motorcycle. In exchange, foodpanda will be promoting NH EV TECH\u2019s EV motorcycles to its tens of thousands of rider population. \u201cThis collaboration is strategic to both NH EV TECH and foodpanda in furthering our ESG agenda,\u201d said Khoo Chee Kong, Managing Director of NH EV TECH. He said the firm believes the faster way to effect change and make significant impact on climate change is to work together with corporate citizens and conglomerates of like mindedness. \u201cWith the current Malaysian government policies and targets supporting the transition of the ICE two-wheelers to EV two-wheelers, including tax incentives, installation of charging infrastructure, we are positive this collaboration is hitting the right notes,\u201cOne of the objectives of our business model is to support the B40 (the Bottom 40 percent of the Malaysian household income) by offering entrepreneur programs with financing packages in collaboration with various institutions such as the Cooperatives and Government Agencies,\u201d he added. Meanwhile, foodpanda Malaysia\u2019s Chief Executive Officer Sayantan Das said that the company has been working at making food delivery more eco-friendly and sustainable. \u201cWe have a responsibility to foster positive change in the way we operate, embracing environmentally-friendly practices to minimize our ecological footprint, \u201cOne example of this is by introducing the foodpanda walker programme, where they do not even need to own a motorcycle to make deliveries,\u201d he said. He also said foodpanda envisions a future where convenience and sustainability can go hand-inhand, and they are excited to incentivize the riders in doing their part with this partnership with NH EV TECH. \u201cWe hope that this collaboration will also contribute to the government\u2019s vision of having 1.5 million EVs on the road by 2040 and the move away from ICE vehicles,\u201d he added. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of EV and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Foodpanda is a on-demand delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, as well as pandaMart cloud stores to provide more on-demand options beyond the millions of food delivery options. Foodpanda operates in more than 300 cities across 11 markets in Asia Pacific \u2013 Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia and Myanmar. Foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. Ni Hsin partners Australia\u2019s Vmoto for EV motorcycles assembly and distribution in Malaysia"}, {"url": "https://technode.global/2023/08/02/malaysias-fourier-intelligence-launches-advanced-rehab-robotics-centre-to-expand-rehabilitation-tech-solutions/", "page": 22, "title": "Singapore\u2019s Fourier Intelligence launches Advanced Rehab Robotics Center to expand rehabilitation tech solutions", "contents": "Singapore-based rehabilitation technology provider Fourier Intelligence said in a statement on Tuesday that the new center will act as a strategic hub to support Fourier Intelligence\u2019s business operations and further strengthen its commitment to providing cutting-edge rehabilitation and assistive technology solutions to the Southeast Asian market. \u201cWe are thrilled to launch our new Advanced Rehab Robotics Center here, as it allows us to serve our regional stakeholders better,\u201d said Zen Koh, Co-Founder and Global Chief Executive Officer of Fourier Intelligence. According to him, the rehabilitation tech industry in Asia is still in the early adoption phase, and he hopes to elevate this through the firm\u2019s offerings in this region. \u201cThis aligns with our mission to empower therapists and patients through advanced robotics and artificial intelligence (AI) solutions, \u201cWe look forward to driving the Malaysian and overall Southeast Asian markets forward and anticipate facilitating stronger collaborations with local partners, healthcare professionals, and research institutions to drive innovation and enhance patient care,\u201d he added. He also noted that Fourier Intelligence is driven by knowledge sharing and he believes that collaboration is key to advancing the rehabilitation industry, as it enables industry partners to forge closer ties and share knowledge for the betterment of the sector. \u201cWe hope that with our new Advanced Rehab Robotics Center in place, we can see a huge growth in rehabilitation technology and wider adoption of intelligent rehabilitation,\u201d he said. Fourier Intelligence is a technology company dedicated to developing exoskeleton and rehabilitation robotics with a focus on creativity since its inception in 2015. The firm is backed by Saudi Aramco\u2019s Prosperity7 Venture, and has successfully raised $62 million in funding. With over 2,000 installations and a market presence in 56 countries globally, the company focuses on rehabilitation technology that aims to empower patients and therapists using robotics and artificial intelligence. With a diverse portfolio of more than 30 products and 200 turnkey solutions, Fourier Intelligence specializes in developing advanced robotic exoskeletons and virtual reality-based therapy platforms to address needs for upper, lower, balance and movement impairments. Coupled with gamified therapy, these innovations enable healthcare providers to deliver personalized and effective rehabilitation programs, improving the patient\u2019s overall recovery outcomes and quality of life. Already establishing a prominent presence in Malaysia through multiple large-scale projects with Sunway Medical Center, Pertubuhan Keselamatan Sosial (PERKESO) and WQ Park, Fourier Intelligence aims to serve as a direct waypoint for the domestic medical industry to obtain the latest advancements in rehabilitation technology. BEYOND EXPO 2023: Malaysia\u2019s Aerodyne plans to raise up to $200M in Series C round; IPO in two to three years\u2019 time"}, {"url": "https://technode.global/2023/08/01/bosch-invests-384m-for-new-semiconductor-backend-site-for-chips-in-malaysia/", "page": 22, "title": "Bosch invests $384M for new semiconductor backend site for chips in Malaysia", "contents": "BoschUntil the middle of the 2030, Bosch intends to invest around EURO 350 million ($384.35 million) in the site, Bosch said in a statement on Tuesday. With the opening, the company continues to systematically reinforce its semiconductor business and manufacturing footprint to meet global chip demand. \u201cSemiconductors are key to the success of all Bosch\u2019s business areas. The Penang backend site is a key component in our growth strategy in the mobility sector as we respond to the increased demand for semiconductors,\u201d said Klaus Maeder, member of the Bosch mobility sector board responsible for operations. \u201cWe chose to invest in Penang for its high level of semiconductor knowledge and skilled workforce. The proximity to business partners and customers is another advantage, as it will shorten delivery times and distances for the chips,\u201d he added. According to the statement, the production of semiconductors can basically be divided into two sections: the so-called front-end and back-end production. With a land area of 100,000 square meters, the facility in Penang is the first of its kind in Bosch\u2019s Southeast Asia region. It will primarily focus on the latter, which is final testing of chips manufactured at Bosch\u2019s fab in Dresden, Germany. The high-tech semiconductor backend site currently covers some 18,000 square metres and includes clean rooms, office space, and laboratories for quality assurance and manufacturing. \u201cPenang is delighted to house Bosch\u2019s semiconductor backend site at Batu Kawan Industrial Park, which is the group\u2019s fourth facility in the state, following the automotive electronics, power tools, and automotive steering manufacturing plants,\u201d said Chow Kon Yeow, caretaker chief minister of Penang. He affirmed Bosch\u2019s close relationship with Penang and thrive to work together to accelerate Penang\u2019s vibrant electrical and electronic (E&E) ecosystem development, anchoring its status as the Silicon Valley of the East, and ensuring beneficial economic spillovers for Malaysia. Malaysian Investment Development Authority (MIDA) chief executive officer Wira Arham said that Bosch\u2019s continued investment in Malaysia, is a testament to the trust and confidence built over the years. \u201cHaving like-minded global partners like Bosch strengthens Malaysia\u2019s position in global value chains and our goal to be an advanced manufacturing base in the region driven by innovation,\u201cThis project is in line with the National Investment Aspirations (NIA) to make Malaysia a strategic investment hub and promote high-skilled jobs and ensure that Malaysia\u2019s industries remain resilient and competitive,\u201d he added. According to the statement, Malaysia is an important hub in Bosch\u2019s global semiconductor supply chain, and the country is estimated to cover around 13 percent of the global backend production. \u201cWe are further expanding the local semiconductor ecosystem and reinforcing our commitment in Malaysia amid our 100-year celebration,\u201cOur new facility in Penang brings Bosch\u2019s global manufacturing network closer to outsourced semiconductor assembly and test vendors (OSATs) in the region as well as to our automotive customers in the Asian market,\u201d said Landhaeusser. With the addition of an advanced backend site in Southeast Asia, Bosch said it is completing its internal process chain especially for the semiconductors manufactured in Dresden, Germany. Bosch is currently carrying out the final testing of its semiconductors for the most part in Reutlingen, Germany, Suzhou, China, Hatvan, Hungary, as well as Malaysia. The new Penang facility is expected to employ up to 400 associates by mid-2030. With a total of 4,200 associates and nearly MYR 400 million ($89 million) investments in Malaysia, as of December 31, 2022, Penang is home to the largest number of manufacturing facilities in a single country for Bosch in Southeast Asia. Malaysia woos Microsoft, Google to bolster data hub ambitions \u2013 report"}, {"url": "https://technode.global/2023/08/01/malaysia-airports-asia-mobiliti-enter-strategic-collaborations-with-google-cloud-to-enhance-travel-experiences-in-malaysia/", "page": 22, "title": "Malaysia Airports, Asia Mobiliti enter strategic collaborations with Google Cloud to enhance travel experiences in Malaysia", "contents": "Google Cloud As Malaysia approaches a full year since COVID-19 entry restrictions \u2014 such as testing and quarantine requirements \u2014 were lifted for foreign arrivals, Google Cloud also unveiled new solutions and resources that are now available to help organizations in Malaysia innovate with generative artificial intelligence (AI) quickly, securely, and responsibly, and seize growth opportunities amidst the country\u2019s tourism rebound. \u201cWhen we consider tourism\u2019s economic impact, there\u2019s often a focus on the contribution from core areas like aviation and accommodation \u2013 and rightfully so,\u201cBut our analysis also highlights tourism\u2019s impact on other sectors, from financial services to healthcare, to retail and transportation,\u201d Google Cloud Indonesia and Malaysia Regional Director Megawaty Khie said in a statement. According to her, the firm is committed to empowering organizations across industries with intelligent, data driven capabilities to make smarter business decisions and be part of an integrated ecosystem that delivers world-class visitor experiences. She said the collaborations with Malaysia Airports and Asia Mobiliti, supported by its partners CloudMile and PointStar, will enhance their ability to serve travelers with personalized, digital-first offerings powered by their secure and scalable open data cloud. \u201cThis also builds on our existing work with airasia Super App to help micro-, small and medium-sized enterprises (MSMEs) grow their revenue streams,\u201d she added. To stay ahead of spikes in passenger traffic in and out of its five international airports and 17 domestic airports in Malaysia, Malaysia Airports \u2014 with support from CloudMile \u2014 has also migrated its digital real estate to Google Cloud\u2019s open, scalable, secure, and energy-efficient infrastructure. By using Google Cloud\u2019s database management services to break down internal data silos, Malaysia Airports is enhancing its ability to push real-time airport and flight information to millions of passengers, thereby allowing them to enjoy smoother experiences from check-in to immigration to boarding to baggage collection. \u201cAs our industry recuperates from the effects of the past few years, it\u2019s critical that we find the ability to both optimize costs and ramp up our operations,\u201d Vijaykumar Dayinde, Chief Information Officer, Malaysia Airports Holdings Berhad. According to him, the firm\u2019s choice of CloudMile as its longstanding partner and Google Cloud as its primary cloud provider gives the them the right combination of automated solutions and deep innovation expertise to deliver high-quality and safe digital-first passenger experiences at scale. \u201cGoogle Cloud\u2019s open data cloud will provide a strong yet flexible foundation for Malaysia Airports to fulfill our vision of becoming a global airport group that champions connectivity and sustainability, and serve as the gateway for tourists to discover and enjoy all that Malaysia has to offer,\u201d he added. To enable seamless and more sustainable multimodal transport experiences for tourists in Malaysia, Asia Mobiliti, is also building and running its mobility-as-a-service platform for businesses and consumers entirely on Google Cloud\u2019s open, scalable, secure, and energy-efficient infrastructure. With support from PointStar, Asia Mobiliti has also deployed Google Cloud\u2019s advanced analytics and business intelligence tools to give its business to business (B2B) customers access to real-time insights that help them better respond to commuters\u2019 needs. \u201cThe concepts of sustainable tourism and sustainable mobility are deeply intertwined,\u201cAt Asia Mobiliti, our goal is to help digitize all modes of transport and connect them with each other, thereby enabling seamless and on-demand multimodal transport experiences,\u201d said Ramachandran Muniandy, Chief Executive Officer and Co-Founder, Asia Mobiliti. While tourists tend to be the biggest consumers of multimodal transport services, he opined that citizens stand to benefit too. \u201cAn effective multimodal public transport system reduces the need for private or single occupancy vehicles. This then translates to reduced road congestion and carbon\u201cIt was a clear choice for us to build our platform on Google Cloud\u2019s open data cloud, given its leadership in data science and it being the only cloud provider that is powering its infrastructure and services using 100 percent renewable energy,\u201d he added. To help organizations innovate with generative artificial intelligence (AI) quickly, securely, and responsibly, and seize new growth opportunities amidst Malaysia\u2019s tourism rebound, Google Cloud has also unveiled new generative AI solutions and resources for businesses in Malaysia. To make career paths in generative AI more accessible to individuals, Google Cloud has made ten generative AI skills development courses available at no cost under its Cloud Skills Boost Program. The firm has also announced the general availability of Generative AI support on Vertex AI to help organizations accelerate their AI journeys. To support more seed to Series A startups in Malaysia who use AI as the core technology to develop primary products or solutions, the Google for AI Startups Cloud Program is also now available to cover their cloud costs of up to $350,000 over two years. \u201cGenerative AI will have a profound impact on community and commerce, \u201cBy making new skilling courses, pre-trained models, developer-friendly tools, and startup support available in Malaysia, Google Cloud is reinforcing its commitment toward empowering organizations of all sizes to build and deploy their own generative AI applications with ease and speed, while protecting their data, applications, and users,\u201d saidSingaporean government partners Google Cloud to launch AI Trailblazers to accelerate generative AI development"}, {"url": "https://technode.global/2023/08/01/alpro-pharmacy-partners-grabexpress-for-on-demand-prescription-medication-deliveries-in-malaysia/", "page": 22, "title": "Alpro Pharmacy partners GrabExpress for on-demand prescription medication deliveries in Malaysia", "contents": "Malaysia\u2019s prescription pharmacy chain Alpro Pharmacy said in a statement on Tuesday that by launching video showcasing the fully online flow from tele-consult to filling the prescription to sending the medication straight to doorstep, the collaboration aims to provide the much-needed support for stay-alone elderlies, chronic-illness patients and parents of young children, who might find leaving home for the pharmacy a hassle or physically not possible. \u201cAs community pharmacists, we strive to make it a point to address our regular customers by their names when they walk through the door,\u201d said Low Swee Siong, Chief Executive Officer of Alpro Pharmacy. Through the years, he noticed more and more young people are leaving their hometowns for work and their parents in an empty nest. Therefore, he said the firm\u2019s medication delivery serves as a means for the children to continue taking care of their elderly parents even when they are away. \u201cWe also realize the struggle faced by working parents who need to balance working from home and childcare, especially when their child falls sick. Hence, the availability of on-demand deliveries specifically for prescription medication meets their urgent needs,\u201d he added. According to the statement, the quick medication delivery is an extension of Alpro\u2019s e-pharmacy service launched in 2021 amidst the pandemic. Under the service, patients can consult with a doctor virtually, receive medical advice, and obtain an electronic-prescription, if necessary, without the need to leave the comfort of theirOnce the prescription is issued, the e-pharmacy\u2019s team of professional pharmacists dispenses the medication, ensuring accuracy and adherence to safety protocols. The prescribed medication will then be delivered to patients leveraging GrabExpress. It is noted that Alpro Pharmacy has been a long-standing merchant-partner on GrabMart, delivering over-thecounter pharmacy items right to customers\u2019 doorstep. \u201cThis partnership highlights how various online services on our platform can help a business enhance the way it caters to customers\u2019 needs,\u201d said Tan Jiong Jian, Director of Commercial and Deliveries at Grab Malaysia. According to him, tapping into GrabExpress as a last-mile delivery solution, Alpro\u2019s customer base now have access to an even wider range of products and services all from the comfort of their homes, while providing delivery-partners on Grab with more earning opportunities too. \u201cWe\u2019re proud to be able to collaborate with the Alpro brand once again, especially in supporting their efforts to reinvent how Malaysians get medication timely and reliably,\u201d he added. Started a single pharmacy outlet in the small town of Port Dickson in 2002, Alpro Pharmacy is now a diversified community chain pharmacy that provides comprehensive primary healthcare solutions via over 250 outlets including Alpro Pharmacy, Alpro Clinic, Alpro Physio and BB Fortress, both online and offline, nationwide. The firm is supported by a team of more than 650 healthcare professionals, ranging from doctors, pharmacists, nutritionists, dietitians to physiotherapists and many otherServing more than 2 million families in Malaysia, Alpro Pharmacy is a community pharmacy in the country to provide MYR 1 million ($220,000) product liability insurance toWith over 500,000 prescriptions filled per year, Alpro Pharmacy is also the largest prescription pharmacy chain in Malaysia.\u202fMalaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion"}, {"url": "https://technode.global/2023/07/31/malaysian-foodtech-firm-goodmorning-global-raises-4-4m-via-equity-crowdfunding/", "page": 22, "title": "Malaysian foodtech firm GoodMorning Global raises $4.4M via equity crowdfunding", "contents": "GoodMorning Global GroupGoodMorning Global said in a statement on last Friday that the firm has raised the fund from 1,046 investors. The firm\u2019s Funder and Executive Chairman Dr. Lim Sin Boon acknowledged the success of the equity crowdfunding campaign as a milestone to the company\u2019s commitment to enhancing consumer health and creating value for shareholders. He reaffirmed the group\u2019s dedication to contribute towards a shared global future, addressing challenges such as climate change, rising sea levels, and food crises through the promotion of affordable nutritional balanced plant-based protein food. He attributed GoodMorning\u2019s rise as the leading grain beverage brand in Malaysia, commanding a remarkable 70 percent market share, to the unwavering support and love of its patrons. To combate global greenhouse gas emissions and food crises, GoodMorning Global has also forged strategic partnerships with private enterprises and academic institutions such asThe company has also set in motion collaborative research projects in the fields of food and biotechnology. The firm also highlighted its commitment to promote affordable and nutritionally balanced plant-based protein food on a global scale. Looking ahead, Lim emphasized that GoodMorning Global is poised to explore boundless opportunities in the vast global market, marching steadfastly towards sustainable development. Dr. Charles Cheng Fang Chin, Chief Executive Officer and Chief Financial Officer of GoodMorning Global Group, has also highlighted the company\u2019s commitment to global collaboration in addressing the challenges of food security through innovative solutions in plant-based protein and biotechnology. \u201cWorld population growth poses a significant challenge to ensure food security. For GoodMorning Global, these challenges are also opportunities for innovation and transformation, \u201cWe have prepared ourselves for these challenges with pioneering work in biotechnology,\u201d he said. He also said the firm is poised to expand its reach beyond Malaysia and strengthen connections with the global community. Collaborating with international partners, he said the company aims to drive food and biotechnology innovation, paving the way towards a sustainable future that benefits future generations. Established in 2008, GoodMorning Global is Malaysia\u2019s food technology and multi-grain company. The company actively engages in research and production of plant-based protein and multi-grain products, committed to providing affordable plant-based balanced nutrition for Malaysia and global communities. Driven by innovation, quality, and service, GoodMorning Global strives to become a world food technology company that promotes health, supports sustainable agricultural and food industry development. Malaysia\u2019s Incite Foodtech acquires Eatcosys to create ASEAN\u2019S retail tech ecosystem"}, {"url": "https://technode.global/2023/07/31/malaysias-capital-a-seals-partnership-with-philippines-uniondigital-bank/", "page": 22, "title": "Malaysia\u2019s Capital A seals partnership with Philippine\u2019s UnionDigital Bank", "contents": "Malaysia-based multinational low-cost airline Capital A said in a statement on Sunday that the partnership will enhance the travel experience of frequent fliers with flexible payment options with a Fly Now, Pay Later offer available in airasia Superapp, and exclusive co-branding deals. It said this will create a progressive shift in the way customers plan and pay for their flights and other travel-related services, making fintech more convenient and accessible for Filipinos. According to the statement, UnionDigital Bank\u2019s role will be to provide embedded finance in partnership with BigPay within the airasia Superapp travel platform, the main booking channel for AirAsia flights in the Philippines. This synergy will deliver a seamless and enriched travel booking experience for airasia Superapp\u2019s users, and redefine the way people travel and manage their finances. AirAsia is the airline business of Capital A, while airasia Superapp is the one-stop travel platform offering services from flights, hotels, ride-hailing, loyalty programs and more. BigPay is the fintech arm providing accessible and secure digital financial services with the vision of improving financial wellbeing and accessibility in Southeast Asia. \u201cFor Capital A, the vision has always been to provide low cost, best value services, connecting people and realizing dreams, for people of Asean and beyond,\u201d said Tony Fernandes, CEO Capital A. With UnionDigital as the firm\u2019s partner, he said Capital A is now on its way to create a future where travel meets innovative financial solutions that facilitate everyone\u2019s dream journeys with unparalleled ease. \u201cWe look forward to working with UnionDigital to redefine travel coupled with fintech as an accessible and enriching experience,\u201d he said. He also said that data has shown that seven out of ten of its customers in the Philippines save up for their travel plans, carefully budgeting to ensure they can explore the world comfortably. \u201cIt is this inspiring dedication that fuels our determination to break down barriers and create a more connected and inclusive global community,\u201d he added. UnionDigital Bank\u2019s partnership with BigPay, a mobile wallet providing financial services in Malaysia and Singapore, solidifies its expansion into the Philippine market. Through this partnership, BigPay will be able to serve Philippine customers with secure and frictionless financial services that will improve their financial health and management in the long-run. \u201cAs tourism flourishes in the region, we are excited to elevate the end-to-end travel and payment experience of Filipinos through our collaboration with UnionDigital Bank and airasia,\u201d said Zubin Rada Krishnan, Chief Executive Officer of BigPay. Through this partnership, he said BigPay is one step closer to making its financial services highly accessible in the Philippines, with the mission of empowering people to level up their lives, one transaction at a time. \u201cWith these key partnerships, we believe we can continue to make lives better in the Philippines through innovative and smart financial services,\u201d he added. According to the statement, these collaborations unveiled are a turning point in the progression of the local banking and travel sectors. It recognizes the potential impact of these partnerships, reinforcing UnionDigital Bank\u2019s commitment to driving innovation and fostering economic growth alongside these key industry players. \u201cThis is a pivotal moment for the two important sectors in the Philippines. We are forging a path towards greater convenience, accessibility, and innovation to empower Filipinos to live better lives,\u201d said Henry Aguda, President and Chief Executive Officer, UnionDigital Bank. \u201cWe are not just setting the stage but building a solid foundation for a brighter future with BigPay and AirAsia by our side,\u201cAs we continue to push boundaries and pioneer new initiatives with like-minded partners, a financially inclusive Philippines will surely be on its way,\u201d he added. According to the statement, the collaboration demonstrates UnionDigital Bank, AirAsia, and BigPay\u2019s dedication to drive positive change, leveraging on powerful synergies that will empower and uplift the lives of Filipinos. Malaysia\u2019s airasia Superapp 2Q average monthly active users up 40 percent on year to 15M"}, {"url": "https://technode.global/2023/07/28/malaysia-hong-kong-plan-economic-hub-near-singapore-border-report/", "page": 22, "title": "Malaysia, Hong Kong plan economic hub near Singapore border \u2013 report", "contents": "Hong Kong will join Malaysia in developing an economic hub in southern Johor, near the Singapore border, as Malaysia looks to tap the land development potential near the site of an upcoming cross-border rail link, Malaysia\u2019s MRT Corp. and Hong Kong\u2019s MTR Corp. signed a memorandum of understanding (MoU) to develop a six-acre land for mixed use in Bukit Chagar on Friday. The development, worth 3 billion ringgit ($660 million), will come up less than one kilometer from the Malaysia-Singapore border. The location is also the site of the under-construction Bukit Chagar terminus station that\u2019s part of the Johor Bahru-Singapore Rapid Transit System, according to the report. \u201cThe intended mixed development is expected to transform the area into an attractive investor destination, for local and international investors,\u201d MRT Corp. \u2019s Chief Executive Officer Mohd Zarif Hashim reportedly said at a briefing. The RTS project, which is expected to serve up to 10,000 commuters per hour in every direction, is due for completion in 2026. The project is also expected to ease traffic congestion at Malaysia and Singapore\u2019s land border crossing, one of the world\u2019s busiest. The four kilometer transit has two stations \u2014 Bukit Chagar in Johor and Woodlands in Singapore. The news came amid Hong Kong Chief Executive John Lee\u2019s visit to Malaysia and other countries in Southeast Asia during his week-long Asean trip. Lee was in Singapore and Indonesia earlier of the week. Hong Kong and Singapore have signed seven agreements on improving cooperation and trade during Lee\u2019s visit to the city-state. The memoranda of understanding (MoU), signed at a business dinner in Singapore on Monday evening, cover trade, financial services, fintech, innovation and technology, and research collaboration, Hong Kong and Indonesia have also signed 15 memorandums of understanding (MOUs) on Wednesday during a visit to the nation Lee reportedly said closer ties with Asean countries would create new opportunities as the city battled economic headwinds, Hong Kong and Malaysia signed 11 MoUs, including the one involving MTR Corporation. According to Lee, Hong Kong and Malaysia enjoy close and longstanding ties in trade and investment. \u201cIn 2022, our bilateral trade in goods grow by 7% year-on-year to reach $28.1 billion, making Malaysia our ninth-largest trading partner and the third-largest among ASEAN Member States. As a conduit for trade with Mainland China, some 9% of trade between Malaysia and Mainland China was routed through Hong Kong in the same year,\u201d Lee wrote in a Facebook post on Thursday. Featured photo credits: John Lee\u2019s Facebook PageHSBC, GOBI Partners join hands to support innovative businesses between Hong Kong and ASEAN"}, {"url": "https://technode.global/2023/07/28/malaysias-airasia-superapp-2q-average-monthly-active-users-up-40-percent-on-year-to-15m/", "page": 22, "title": "Malaysia\u2019s airasia Superapp 2Q average monthly active users up 40 percent on year to 15M", "contents": "Malaysia-based Its parent firm Capital A said in a statement on Friday that this led to a 102 percent year on year jump in the number of transactions at 7.9 million. The encouraging results indicate improved user engagement in the app, as the number of transactions rose more than two-fold compared to the average MAU on a yearly basis, according to the firm. Meanwhile, gross booking value (GBV) for the app has also improved notably by 110 percent year on year. The travel vertical experienced a 9 percent improvement and the delivers vertical saw a 5 percent increase, while rewards and other businesses delivered close to 8 percent growth. These were largely attributed to Superapp Super Sale campaigns, free seats campaigns for AirAsia flights and ongoing efforts to increase fleet drivers for airasia ride that improved completion rates, which resulted in a total of 2.6 million rides completed by June 2023. BigPay\u2019s carded users also grew by 16 percent year on year reaching 1.4 million users. The gross transaction value (GTV) also posted an upward trend, climbing 40 percent year on year driven by domestic transactions within the payment and remittance products. Additionally, the marketplace GTV grew by 32 percent YoY with the introduction of prepaid mobile top-ups, which enables users to top up directly through the BigPay app while earning airasia points which can be redeemed for services and products on airasia Superapp. The lending segment that was launched in Malaysia in the first quarter of 2022, grew 6 percent year on year. Capital A said the managed growth of the lending product is deliberate to ensure a stable and balanced risk-return profile. Meanwhile, Capital A\u2019s logistics venture Teleport continues to demonstrate robust performance, having moved 45,250 tonnes, up 105 percent year on year. The growth was driven by the increased cargo belly capacity from the return of international flights and increased utilization. The delivery segment also showed strong uplift, delivering 4.9 million parcels in the second quarter of 2023. Capital A said the 321 percent year on year improvement showcases Teleport\u2019s success to capture wallet share from key marketplaces, now served by a combination of dedicated freighter and flexible belly capacity that enhances Teleport\u2019s ability to meet market requirements. Earlier in July, Teleport reached a momentous breakthrough with the official induction of its first dedicated A321F aircraft named Awan, further strengthening its extensive air cargo network. The freighter\u2019s inaugural flight took place on July 17, 2023, covering the Kuala Lumpur to Kota Kinabalu and Kuching routes initially, with plans to expand internationally, starting with flights to Hong Kong in August. Meanwhile, in second quarter, AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines (the consolidated airlines) posted a healthy load factor of 88 percent, having carried 14.2 million passengers, almost double the number year-on-year. Across the group, 16.2 million seats were available, operated by 146 of the 166 activated aircraft. To date, the consolidated airlines have recovered 73 percent and 74 percent of first half of 2019 capacity and passengers carried respectively. With the strong resurgence of travel demand, the group available seat kilometres (ASK) soared 132 percent year on year to 18.99 billion, while revenue passenger kilometres (RPK) surged 146 percent year on year to 16.31 billion. During the quarter, the largest short-haul airline in the group, AirAsia Malaysia recorded a strong overall load factor of 87 percent reaching 6.4 million passengers. AirAsia Thailand, on the other hand, posted a load factor of 89 percent carrying 4.6 million passengers. AirAsia Indonesia and AirAsia Philippines posted robust load factor at 84 percent and 91 percent, with passenger carried of 1.5 million and 1.6 million, respectively. Throughout the second quarter, the domestic performance was incredibly strong and international market traffic remained buoyant with favorable load factor. In response to the robust international market demand, the group has reallocated more capacity to international routes to meet the strong resurgence from the international market. Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter"}, {"url": "https://technode.global/2023/07/28/hsbc-gobi-partners-join-hands-to-support-innovative-businesses-between-hong-kong-and-asean/", "page": 23, "title": "HSBC, GOBI Partners join hands to support innovative businesses between Hong Kong and ASEAN", "contents": "Gobi PartnersBoth parties said in a statement that under the MOU, both companies will explore further opportunities to drive business and financial connectivity between the Greater Bay Area and ASEAN. They will also explore the opportunities of \u201cTaqwaTech\u201d, a new category of Muslim entrepreneurs focusing on using technology to serve the demand of the Islamic economy. They will also explore opportunities of sustainable innovation and investment aligned to the United Nation\u2019s Sustainable Development Goals, and growth and empowerment of diverse entrepreneurs. According to the statement, the MOU further underlines HSBC and Gobi Partners\u2019 commitment in empowering diverse entrepreneurs, regardless of gender and background. \u201cGobi Partners and HSBC share a common vision, which is to help innovative businesses unlock their potential, create more jobs and access new global opportunities, \u201cThe MOU signals our commitment to support Hong Kong and ASEAN businesses at all stages, boost their growth and help them compete on the global stage,\u201d said Luanne LIM, Chief Executive, Hong Kong, HSBC. Meanwhile, Gobi Partners Co-Founder and Chairperson Thomas Tsao said that the firm is thrilled to amplify connectivity between Hong Kong and Southeast Asia so that the Greater Bay Area in China will become known as Greater Bay ASEAN. \u201cThe signing of this MOU with HSBC marks a significant milestone further solidifying the collaboration between our two esteemed companies,\u201cTogether, we are poised to make an impact in shaping the future of the region\u2019s entrepreneurial landscape,\u201d he said. According to the statement, ASEAN is the largest digitally enabled population in the world with its e-commerce forecasted to grow to $88 billion by 2025. It is also noted that in 2020 alone, 40 million people in Southeast Asia came online for the first time. Cited a survey jointly conducted by Google, Temasek and Bain & Company, it said Southeast Asia\u2019s digital economy is expected to reach $330 billion by 2025. Recognizing the role technology and digital education plays in promoting gender equality, HSBC and Gobi Partners have also jointly hosted an event for female entrepreneurs and investors in March as part of their International Women\u2019s Day celebration. Gobi Partners is a venture capital firm with $1.6 billion in assets under management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi Partners has raised 16 funds to date, invested in over 380 startups and nurtured 10 unicorns. The firm has grown to 15 locations across key markets in Bangkok, Cairo, Dhaka, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. As a participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labor, environment and anti-corruption to ensure long-term value creation and sustainability across its portfolio. As a participant of the United Nations Global Compact, the firm launched its second sustainability report in June 2023. Gobi Partners releases 2022 Sustainability Report as part of its commitment to UNGC\u2019s Corporate Sustainability Principles"}, {"url": "https://technode.global/2023/07/28/malaysias-myeg-seals-deal-to-deploy-blockchain-based-customs-clearance-between-the-philippines-and-china/", "page": 23, "title": "Malaysia\u2019s MYEG seals deal to deploy blockchain-based customs clearance between the Philippines and China", "contents": "Malaysian digital services company MYEG said in a statement on Thursday that the group, together with its Philippines-incorporated companies, signed agreements for a collaboration with Philippines Bureau of Customs (BOC) and Cargo Data Exchange Center Inc. (CDEC). This paves the way for the Philippines to adopt the digital solution known as Ztrade \u2013 a first of its kind Web3 + artificial intelligence (AI) link between China and its trading partners \u2013 which runs on MYEG\u2019s innovative Zetrix layer-1 blockchain platform.  Under the collaboration, MYEG will provide the Ztrade solution in the Philippines including ground installation, training, and assistance with customisation requirements while CDEC, which is a value-added service provider of trade and logistics solutions for the BOC will support the integration of Ztrade to its platform to ensure a seamless experience for users. This groundbreaking initiative by MYEG follows the signing in March of a partnership between the group and East Logistic-Link Co. , Ltd, a wholly-owned agency of the General Administration of Customs of the People\u2019s Republic of China (GACC), to jointly provide a full suite of cross-border trade facilitation services on the Zetrix blockchain platform.  This includes the lodgment of certificates of origin as well as potentially other certificates relevant to cross-border trade like food safety, quarantine, and bill of lading, thus enabling all data to be available accurately in near real-time, hence, increasing the efficiency of tariff computation and customs clearance, especially for trade within the Regional Comprehensive Economic Partnership (RCEP). Leveraging Web3 technologies of blockchain smart contracts and AI, MYEG said the Ztrade service can overcome the prevailing limitations of conventional technology architecture in providing a reliable and automated method of securely and effectively digitalizing trade clearance processing whilst removing the cumbersome retro-verification currently practiced, thus making it hassle-free, seamless, faster and simpler overall.  It is noted that Malaysia, through the Ministry of Investment, Trade and Industry (MITI), had in April announced its support for the adoption of a blockchain-based single window system for the mutual recognition of digital certificates of origin to improve trade facilitation and reduce technical barriers for more efficient and secure processing of goods originating from Malaysia to China. \u201cAt MYEG, we are pleased that the advantages of deploying a Web3 + AI-based solution i. e. Ztrade in offering faster, secure, more intelligent and more cost-effective processing of cross-border trades are now also being recognised in the Philippines, besides in Malaysia and China,\u201cWe look forward to expanding this service to other nations as we continue pursuing our objective of deploying this pioneering solution, which leverages the power of Web3 and AI technology, across Association of Southeast Asian Nations (ASEAN) and the RCEP region,\u201d said TS Wong, Group Managing Director of MYEG. Meanwhile, BOC Commissioner Bienvenido Y. Rubio said that this platform is a blockchain-based application that will enable the verification of certificates of origin for exports to China and vice-versa, using express clearance and tariff exemptions under the RCEP and the ASEAN-China Free Trade Agreement (ACFTA). He said that proposed use of the Zetrix platform shall be at no cost to the Philippine government and is expected to facilitate greater trade through seamless yet highly secure transactions between countries. CDEC President Jason Gaw Cheng added that the Zetrix platform will increase the global trade competitiveness of the Philippines and improve ease of doing business for the country\u2019s traders and logistics service providers. According to the statement, the roll-out of Ztrade in the Philippines also marks the broadening of MYEG\u2019s presence as a key enabler of government digitalization in the archipelago. Since commencing operations in 2017, the group has gone on to establish itself as a leading provider of e-government services in the Philippines. The group currently provides a variety of services for a wide-range of government agencies including the National Bureau of Investigation, the Securities and Exchange Commission, Bureau of Internal Revenue, Landbank of the Philippines, PhilHealth, Philippines Economic Zone Authority and the Tourism Infrastructure and Enterprise Zone Authority.  Developed by MYEG, Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix\u2019s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. The cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as blockchain-based identifiers (BID) and verifiable credentials (VC). China\u2019s Xinghuo BIF appoints Malaysia\u2019s MyEG to own and operate Xinghuo International Supernode"}, {"url": "https://technode.global/2023/07/27/uem-partners-local-foreign-investors-to-develop-hybrid-solar-photovoltaic-power-plant-in-malaysia/", "page": 23, "title": "UEM partners local, foreign investors to develop hybrid solar photovoltaic power plant in Malaysia", "contents": "UEM Group BerhadUEM said in a statement on Thursday that the project is in line with the strategic and high-value national flagship energy transition projects under the Malaysia\u2019s National Energy Transition Roadmap (NETR), which was launched by the Minister of Economy for which Khazanah has been named as the champion for Renewable Energy Zone (REZ) in Malaysia. According to the statement, the project will be developed by UEM Group in collaboration with local investor ITRAMAS Corporation Sdn. Bhd. (ITRAMAS), currently the largest vertically integrated solar plant developer, engineering, procurement, construction, and commissioning (EPCC) and service provider in Malaysia. The collaboration will see both parties leveraging complementary expertise, resources and networks, to achieve synergies that will ensure greater success for the project. The project has also attracted renowned foreign strategic investors which include the likes of Macquarie Asset Management\u2019s Green Investment Group unit Blueleaf Energy and ITRAMAS\u2019s existing partners, Chinese contractor China Machinery Engineering Wuxi Co. Ltd. (CMECWUXI) and Singapore-based RE firm HEXA Renewables. It is noted that the project investors are in discussion with UEM Group to consider participating through multiple potential roles including collaborating on project development, financing (including equity investments) and commercialization (including offtake of green electricity). ITRAMAS alongside CMECWUXI also intend to be the anchor tenants and initial green electricity offtakers within the RE Industrial Park. According to the statement, the RE Industrial Park aims to attract foreign manufacturers and suppliers across the RE and electric vehicle (EV) value chains as well as other high-tech companies to set up operations and research and development facilities in the park, which in turn could drive the growth of the overall energy transition and EV ecosystems in Malaysia. \u201cKhazanah fully supports the NETR, a catalyst for the achievement of Malaysia\u2019s aspiration in becoming a regional leader in the fields of energy transition and renewable energy, \u201cThis Project is a step in the right direction and demonstrates UEM Group\u2019s commitment to sustainable green initiatives moving forward,\u201d said Amirul Feisal Wan Zahir, Managing Director of Khazanah. Meanwhile, UEM Group Managing Director Mohd Izani said that this project is in line with the strategic and high-value national flagship energy transition projects under NETR, launched by the Minister of Economy. \u201cITRAMAS, Blueleaf Energy, CMECWUXI, and HEXA Renewables are investors that are not only committed to invest and develop Malaysia\u2019s renewable energy assets but have also pledged to upskill local contractors in the RE industry, provide job creation and undertake knowledge transfer, all of which fits into UEM Group\u2019s aim of creating high quality employment opportunities for Malaysians,\u201d he said. ITRAMAS Managing Director Lee Choo Boo said that the firm is fully committed, together with Khazanah and UEM Group, to ensure the resounding success of this flagship energy transition project under the RE Zone and the National Energy Transition Roadmap. \u201cI Squared Capital and CMECWUXI together with Khazanah, UEM Group, HEXA Renewables, Blueleaf Energy and CMECWUXI, we will provide a strategic catalyst to propel our nation to be a regional leader in energy transition and renewable energy value chain,\u201d he added. According to the statement, Blueleaf Energy, which is part of the MoU, will also contribute its technology, financing and commercialization expertise to realize the investment, development, construction and operation of reliable, long-term and commercially viable renewable hybrid energy solutions for the national significance RE industrial zone initiative in the country under the NETR framework. \u201cInvesting in Malaysia\u2019s renewable energy projects is strongly supported by government\u2019s sustainability vision and a growing demand for green energy solutions, \u201cThe realization of this project with strong public and private sector support will be an important step towards achieving Malaysia\u2019s climate commitment of 40 percent RE in the power mix by 2035, thereby creating a positive social and environmental impact and securing long-term benefits for the country,\u201d said the firm. CMECWUXI General Manager and Board Chairman Kathy Hsu said that the world is multilateral and it is the responsibility and mission of every entrepreneur in the world to promote the development of economy between countries and benefit the happiness index of the people of the two countries. \u201cThe world advocates a low-carbon lifestyle and realizes zero-emission manufacturing as soon as possible, \u201cAs a member of \u2018CMEC New Energy\u2019, we, CMECWUXI, take it as our corporate mission and responsibility, and work hard with UEM Group/ITRAMAS for the development of new energy in Malaysia, China, and even the world,\u201d she said. I Squared Capital Senior Partner Harsh Agrawal said that having invested in nearly 5.8 gigawatts of renewable assets around the world, the firm is excited to bring its expertise in green power generation to help catalyze the energy transition in Malaysia, an Indo-Pacific Economic Framework (IPEF) founding member. Khazanah spearheads green investment platform to attract new direct investments into Malaysia"}, {"url": "https://technode.global/2023/07/27/malaysia-government-glics-to-invest-211m-to-support-startups/", "page": 23, "title": "Malaysia government, GLICs to invest $211M to support startups, technopreneurs", "contents": "The Malaysia government and government-linked investment companies (GLICs) will invest MYR1 billion ($211.12 million) in additional funds to match private funds in a bid to support local startups and encourage technopreneurs, its Prime Minister said. The initiative, which is one of several under the new economic road map, would include ensuring the provision of funds for each phase of a company\u2019s growth, alongside expanding the implementation of programs such as Corporate Hackathon and MYHackathon, said Anwar Ibrahim in his speech at the launch of the so-called \u201cEkonomi Madani\u201d plan on Thursday. According to the prime minister, Malaysia ranked 20th in the world based on the report of The Global Startup Ecosystem 2023, valuing the Malaysian start-up ecosystem at $46 billion for the first half of 2020 to 2022. It will also allocate an additional MYR100 million ($22.12 million) to intensify research, development, commercialization and innovation, with a focus on industrial needs, such as renewable energy, food security and new growth areas. Anwar said the capital market also needs to be \u201cmore lively\u201d by bringing more company listings and thus giving birth to new local \u2018unicorns\u2019. The banking system and capital markets have to act quickly to meet business financing needs. The Securities Commission will develop Financial Market Reform Policies by facilitate the investment of retail investors, attract more investors to finance MSMEs as well as the country\u2019s new growth activities; and increase the level of competitiveness of the capital market at the international level, he added. To drive digital economic reforms, Anwar said the government will implement \u201cDigital ID\u201d to develop online businesses and related industries. A matching grant for digitalisation will be increased by RM100 million to assist micro, small and medium enterprises (MSMEs) in accelerating their shift towards a more digital business model, he added. The government has decided to provide an e-cash credit of MYR100 to all Malaysians with an annual income of MYR100,000 or below. \u201cThe number of eligible recipients is estimated to exceed 10 million people, including the B40 (bottom-tier households) and M40 (middle-tier households) groups, with funds totaling MYR1 billion ($211.12 million). \u201cMalaysia must learn from the decline of past nations which have risen again nimbly to the front. Like it or not, we must become a regional economic powerhouse. We need to think globally and internationalize the economy to generate prosperity. With that, we will be able to achieve the targets set for the Top 30 largest economies in the world in the medium term,\u201d Anwar said. \u201cIf we are just satisfied with the status quo, it is expected that our economic growth will continue to grow between 4 to 5 percent However, if we work hard towards implementing reforms aligned with Ekonomi Madani, we are more than capable to reach 5.5 percent, and I believe that it is not impossible to reach even up to 6 percent,\u201d he added. In order to accomplish this significant goal, he said:\u2022 We need to establish greater economic integration with neighbouring countries, especially considering the world is facing supply chain constraints. Therefore, we need to nurture more high-competitive local companies to penetrate the ASEAN regional market. \u2022 Our efforts now need to go beyond Free Trade Agreements. For instance, trade diplomacy and strategic arrangements can enhance bilateral and multilateral market integration and facilitate the movement of goods, capital, skilled workforce, and technology sharing with neighboring countries. \u2022 Until now, our emphasis has been on main sector activities, encompassing Electrical and Electronic (E&E) and chemistry. As we advance, the new industrial mission under New Industrial Master Plan (NIMP) will center around activities that offer high-added value or economic sophistication. For instance, cluster in Penang focus should be on high-value E&E activities such as Integrated Circuit (IC) design. As for the chemical sector, petrochemical and oleochemical companies should prioritise manufacturing specialty chemicals, the prime minister said. The government will introduce outcome-based tax incentives to support and reward companies focusing on high-impact activities, he added. \u201cWe must implement reforms so that Malaysia can be ranked among the 12 best economies in terms of competitiveness and ease of doing business,\u201d Anwar added. Thus, it should be announced to all corners of the world that Malaysia is open and ready to welcome investors and businesses. According to him, so far several companies have announced investment commitments including Sumitomo Corporation, Tesla and Rongsheng and Samsung Engineering. The government is also launching the Malaysia\u2019s National Energy Transition Roadmap (NETR) to accelerate energy transition and change the way energy is generated in Malaysia in order to improve climate resilience. According to Anwar, efforts to be implemented include increase renewable energy generation capacity, installing solar panels on Government buildings, and implementing renewable energy trading policies through the electricity market system. \u201cWe should also take inspiration from Sarawak\u2019s pioneering efforts in the bus project that utilises hydrogen energy and CCUS (Carbon Capture, Utilisation & Storage). To promote these new green growth activities, the governmentMalaysia to reform startup ecosystem, focus on investment, says minister \u2013 report"}, {"url": "https://technode.global/2023/07/26/1337-ventures-hosts-ecf-accelerator-to-help-malaysian-smes-maximize-opportunities-through-ecf-fundraising/", "page": 23, "title": "1337 Ventures hosts ECF Accelerator to help Malaysian SMEs maximize opportunities through ECF fundraising", "contents": "Malaysia-based venture capital firms 1337 Ventures said in a statement on Wednesday that alternative financing is gaining popularity in Malaysia as a viable option for local businesses to raise funds. This is evident as total funds raised in Equity Crowdfunding stood at MYR 560.34 million ($123.10 million) via 330 campaign as reported by the Securities Commission of Malaysia. It said the ECF Accelerator Program is to support the alternative financing landscape. According to the statement, the three-day fundraising bootcamp will guide up to 20 ambitious growth stage entrepreneurs on fundraising methods and strategies through venture capital, private equity, and ECF. The bootcamp will cover stakeholder mapping, go-to-market strategy, financial modelling, marketing, pitching, and other topics necessary for launching a successful ECF campaign and fundraising exercises. The culmination of this rigorous bootcamp will see the top three companies gaining an exclusive opportunity to showcase their potential at Leet Angel Club \u2013 a prestigious event is a strictly invite-only gathering of discerning angel and sophisticated investors, curated by the reputed Leet Capital. \u201cIn the journey of fundraising, many SME entrepreneurs hit a wall when it comes to building solid financial models, crafting a bulletproof fundraising strategy, or nailing a killer pitch. That\u2019s a real concern,\u201d said Bikesh Lakhmichand, the Founder and Chief Executive Officer of 1337 Ventures. Bikesh, with his vast experience of propelling over 2,500 startups to their zenith, emphasized that Malaysian businesses aren\u2019t short of potential. \u201cThey just need the right pointers to understand the fundraising landscape. And yes, learning to pitch effectively to investors is a game-changer that many are missing out on in their capital raising efforts,\u201d he added. In 2022, the ECF Accelerator program had two successful cohorts that included homegrown companies from healthtech, eco-friendly beauty products, food and beverage (F&B), and more. QMED Asia, the cohort 1 winner, raised over MYR 5 million ($1.1 million) in ECF from 110 investors on Leet Capital. Arus Oil, from cohort 2, was recently invested in by Shell as an initiative to encourage Malaysians to recycle their used cooking oil and continue to provide cleaner and sustainable energy solutions. Cohort 3 begins in August 2023 and will take place on August 4th, 11th, and 18th, 2023. The program is supported by WORQ, Malaysia Digital Economy Corporation (MDEC) and Digital Penang.1337 Ventures is an early-stage venture capital firm focused on pre-seed and seed-stage investments in Malaysia and South East Asia. Established in 2012, the firm is Malaysia\u2019s first accelerator program. Pioneering the design thinking methodology and design sprints in Malaysia, 1337 Ventures has utilized its learning to accelerate the growth of over 2,500+ startups from five different countries. 1337 Ventures sister company Leet Capital is an ECF platform. Since being awarded its license by the Securities Commission in May 2019, the firm has been enabling investors to invest in highly vetted high growth businesses, whilst providing an avenue for high growth businesses to raise capital. Leet Academy, its education arm, focuses to empower, educate and build resilient individuals through a series of workshops, mentorship and networking events in the areas of design thinking, pitching and agile ways of work. Malaysian venture capital firm 1337 Ventures launches new $290,000 fund for Malaysian startups"}, {"url": "https://technode.global/2023/07/26/alibaba-cloud-sees-increase-in-demand-from-various-industries-in-malaysia-market-says-vp-qa/", "page": 23, "title": "Alibaba Cloud sees increase in demand from various industries in Malaysia market, says VP [Q&A]", "contents": "Alibaba Cloud\u201cWe expect an increase in demand from various industries in the market. Our goal is to continue to serve more local customers to enable their digital journey as one of the leading cloud service providers in Malaysia,\u201d he told \u201cMalaysia has a very high willingness to embrace technology so we are going to put priorities here too,\u201d he noted. \u201cIn fact, we started Energy Expert (Alibaba Cloud\u2019s sustainability solution for enterprise) in this region first, in the Malaysia market. We recently see Agmo\u2013a digital solutions specialist in Malaysia as our first international customer of EMAS Superapp solution to drive the EV evolution by adopting our cutting-edge technological superiority. \u201dHe said Alibaba Cloud will continue investing in the market and develop and nurture the use of latest and advanced cloud computing solutions to provide customers the ability to take their business digital. In recent years, Southeast Asia has become an important battleground for Internet giants from US and China which offer cloud computing services as they vie for dominance in the region which has seen rapid digitalization. Companies such as Google, Microsoft, Alibaba, Huawei, Amazon. com are investing heavily in cloud computing in Southeast Asia, building data centers, among other initiatives. Amazon Web Services (AWS), the cloud computing division of Amazon. com announced in March it plans to invest $6 billion in Malaysia over the next 14 years to strengthen its cloud services infrastructure in the country. The infrastructure hub will enable customers in the region to store data securely, AWS said then. In August last yearIn the same month, Tencent Cloud, the cloud business of global technology company Tencent, and Acclivis Technologies and Solutions, a wholly-owned subsidiary of CITIC Telecom International Holdings Ltd, announced that they have signed a strategic collaboration agreement to bring private, public and hybrid cloud and ICT solutions to enterprises in Southeast Asia and China. In November last year, Huawei launched the Indonesia Region, a regional hub of Huawei Cloud\u2019s 29 global availability zones. Huawei plans to spend $300 million on upgrading its local cloud infrastructure for the next five years, according to Alibaba Cloud has built five global data centers during 2021 to 2022, according to Besides launching the innovation center in Malaysia, Alibaba Cloud said in 2021 that it plans to invest $1 billion in funding and resources within the next three years as part of its Project AsiaForward, which aims to foster one million digital talents, empower 100,000 developers and accelerate the growth of 100,000 tech start-ups across Southeast Asia and Hong Kong. According to IDC, Southeast Asia is the fastest-growing cloud computing market and is expected to be valued at $40.32 billion by 2025. This wave of interest is spurred by increased cloud reliance as more organizations acknowledge the long-term benefits of embracing the cloud. Governments in the region are investing in cloud computing to fuel digital transformation, which in turn drives greater innovation in the private sector, Xiong, however, also shared some of the challenges Alibaba Cloud sees while expanding in Malaysia and the rest of Southeast Asia. \u201cTraditional IT enterprise mindset is our challenge. But the pandemic has served as the impetus for the acceleration of digitalization in Malaysia as well as the rest of Southeast Asia,\u201d he said. \u201cWe have seen Covid-19 bringing more opportunities than challenges. More and more companies see cloud solutions and services help them deliver new products and services seamlessly and cost-effectively, making them more adaptable to the shifting demands of the market. \u201dIn the interview, Xiong also shared about how digitization can help carbon neutralization, insights on the latest development and technology for carbon management, and Alibaba\u2019s own approach to carbon reduction, among others. Malaysia has a very high willingness to embrace technology so we are going to put priorities here too. In fact, we started Energy Expert (Alibaba Cloud\u2019s sustainability solution for enterprise) in this region first, in the Malaysia market. We recently see Agmo\u2013a digital solutions specialist in Malaysia as our first international customer of EMAS Superapp solution to drive the EV evolution by adopting our cutting-edge technological superiority. We expect an increase in demand from various industries in the market. Our goal is to continue to serve more local customers to enable their digital journey as one of the leading cloud service providers in Malaysia. We will continue investing in the market and develop and nurture the use of latest and advanced cloud computing solutions to provide customers the ability to take their business digital. In doing so, Alibaba Cloud is committed to fulfilling its role as an enabler of Malaysia\u2019s Digital Economy transformation. Traditional IT enterprise mindset is our challenge. But the pandemic has served as the impetus for the acceleration of digitalization in Malaysia as well as the rest of Southeast Asia. We have seen Covid-19 bringing more opportunities than challenges. More and more companies see cloud solutions and services help them deliver new products and services seamlessly and cost-effectively, making them more adaptable to the shifting demands of the market. According to a new survey report entitled \u201cThe Next-Generation Cloud Strategy in Asia\u201d targeting 1,000 cloud strategy decision-makers across eight Asian countries, the impact of COVID-19 has led to significant changes in their use of IT, with 54 percent reporting an increased use of cloud- based software and 41% reporting acceleration with their cloud migration. The survey data also shows that Malaysia\u2019s uptake of the use of software in the cloud has clocked in a 56 percent increase as a result of the pandemic. Digitization is critical to overcoming sustainability challenges. The culture of embracing digital technology within a business organisation will encourage sustainable innovation. Implementing sustainable digital technologies can reduce waste and make a business more energy efficient, ultimately reducing carbon emissions. Therefore, choosing the right strategies in investing for sustainable solutions is crucial to achieve the United Nations\u2019 sustainable development goals, such as SDG12 [Responsible consumption and production] and SGD 13 [Climate action] goals. Today climate change is one of the biggest challenges in terms of sustainable development in the world. How we can measure the carbon footprint, and especially after measuring, how we can optimise the carbon footprint is what everyone tries to do. For me, in the future what is exciting is how we can make it very inclusive and scalable in terms of sustainability in activities. A SaaS solution is a means of software delivery that allows services and data to be accessible from different devices with a web connection, instead of having to have software installed onto individual computers or networks. Digital SaaS sustainability solutions can help enterprises to calculate their organization or product carbon footprint by providing insightful analysis and AI based recommendations to reduce the carbon footprint. Sustainable technology has been identified by Gartner as one of the Top 10 Strategic Technology Trends for 2023, highlighting its ability as a powerful tool to help shape the innovations of the future. When carefully and thoughtfully implemented, this technology can provide a valuable resource for helping to manage and lowerEnergy Expert helps our global customers to achieve their net zero targets through insightful actions and informed sustainability practices. Through streamlined solutions, Energy Expert helps customers automate the carbon accounting and reporting process and obtain real-time sustainability impact statistics for them to make informed decisions. It enables customers to identify the sources of the carbon emissions from their daily business activities as well as the full life cycle of their products, based on the PAS 2060 and ISO 14064 standards on carbon neutrality. Customers can also quantify their carbon footprint through prebuilt calculation models and our datasets. It also provides real-time visibility into carbon emission patterns and the progress of their sustainability performance through visualisations on dashboards and online reports. So far, Energy Expert has helped more than 2600 enterprises worldwide across a wide range of industries save energy or reduce carbon emissions since its launch last year. We started with creating a sustainability framework that is appropriate to our role and influence. Alibaba Group is targeting Scope 1 and 2 carbon neutrality, and 50 percent carbon intensity reduction for Scope 3 by 2030. New Scope 3+ dimension to facilitate additional 1.5 gigatons of decarbonization across the Alibaba Ecosystem by 2035. Alibaba Cloud will take the lead and aim to achieve Scope 3 carbon neutrality by 2030. Alibaba Cloud is also committing to power its cloud computing with 100 percent clean energy no later than 2030. Apart from that, we also were the Number 1 renewable energy purchaser in 2021 among China\u2019s tech companies according to BloombergNEF. In its financial year 2022 (FY2022), Alibaba cut a total of 619,944 tons of carbon emissions from changing its energy mix to include more clean energy; over this time period, 21.6 percent of the electricity for Alibaba Cloud was from clean energy. In the first half of 2022 alone, Alibaba purchased more than 800 million kWh of clean energy, a 150 percent increase over the full year of 2021. Alibaba Cloud\u2019s data centers reached an annual average power usage effectiveness (PUE) of 1.247 in FY22, an Asia-leading standard; customers in China can avoid 85.5 percent of their computing emissions by moving to Alibaba Cloud from on-premise equivalents. I believe we are on track to achieve our target at the moment. One of the biggest challenges that people face is they are keen to take initiatives to reach their sustainability goal but they don\u2019t know how to start. That requires a lot of expertise and companies needed to hire and invest a lot to undertake the sustainability journey. I think what we are trying to do is to make it inclusive not only for large companies, but also for small and medium enterprises (SMEs). We want to make it accessible to any organisation. With the right system in place, youEven for the companies who don\u2019t have the experience or experts but they still embark on this journey. My recommendation is to start small, to start with some POC (proof of concept) first with the sustainability initiative. We also allow a company to calculate for 1 particular product, this is very affordable. Then they can do the cost justification. If we don\u2019t know how to start, we better start with something that is concrete and we can have a see through result and then we can generalize to the rest of the business. To me, it\u2019s not only about doing business, it\u2019s also about how to make it more inclusive, for not only large enterprises but also for SMEs, researchers and universities to utilise. Hopefully we can involve more players in the sustainability drive. Alibaba Cloud unveils plans to strengthen global partnership ecosystem"}, {"url": "https://technode.global/2023/07/25/malaysia-becomes-the-60th-country-where-spacexs-starlink-provides-high-speed-internet-service/", "page": 23, "title": "Malaysia becomes 60th country SpaceX\u2019s Starlink provides high-speed internet service", "contents": "StarlinkIn a tweet on Tuesday, SpaceX said, \u201cStarlink is now available in Malaysia, marking the 60th country around the world where Starlink can provide high-speed internet connectivity. \u201dAccording to local media The plan is offered without contract, as users will be required to purchase the Starlink Kit, which comes with an electronic phased array antenna with a base suited for ground installation, a WiFi router, and cables. Last weekAccording to the minister, currently, 97 percent of populated areas in Malaysia have Internet access. However, the remaining 3 percent face challenges due to geographical locations, such as remote rural areas or isolated islands, making network infrastructure development difficult. Therefore, Fahmi said the government is willing to collaborate with satellite internet service providers, including Starlink, to achieve 100 percent internet access in populated areas. The announcement comes after the virtual meeting between Anwar and Musk about Starlink and Tesla earlier this month. Starlink, a satellite internet constellation operated by SpaceX, provides high-speed, low-latency broadband internet across the globe. Founded in 2002 by Musk, SpaceX is a spacecraft engineering company which designs, manufactures and launches advanced rockets and spacecraft in a bid to \u201crevolutionize\u201d space technology. With Starlink, users can engage in activities that historically have not been possible with satellite internet, information from SpaceX\u2019s website showed. Starlink\u2019s high-speed, low-latency service is made possible via the world\u2019s largest constellation of highly advanced satellites operating in a low orbit around the Earth, the company claimed. Musk\u2019s electric vehicle maker Tesla has unveiled its sport utility electric vehicle, Model Y, in Kuala Lumpur last Thursday. Tesla said it will establish its head office and service centre in Cyberjaya, Selangor, Malaysia, which will serve as the central hub for all corporate operations, marketing, training, customer support activities and vehicle services. Malaysia grants licence to Elon Musk\u2019s Starlink to bring Internet services to rural areas"}, {"url": "https://technode.global/2023/07/25/khazanah-impact-innovation-challenge-2023-calls-for-applications/", "page": 23, "title": "Khazanah Impact Innovation Challenge 2023 calls for applications", "contents": "Malaysian sovereign wealth fund Khazanah said in a statement that KIIC is a business challenge aligned with Khazanah\u2019s Dana Impak value creation objectives, aiming to address pervasive problem statements and drive socio-economic resilience and growth potential for the country. Organized under the Khazanah Dana Impak initiative, a MYR 6 billion ($1.32 billion) commitment over five years, the KIIC 2023 intends to attract innovative agri-food start-ups and micro, small and medium-sized enterprises (MSMEs) that are actively tackling problems arising from the impact of climate change on the agri-food sector. Additionally, KIIC 2023 will provide support to the selected participants to enhance their readiness and knowledge in securing and raising funds to take their businesses to the next level of growth. Ultimately, the program seeks to strengthen the profile of Malaysia-based agri-food start-ups and MSMEs, with the aim of creating socio-economic value for the country. KIIC 2023 is co-organized with Khazanah program partner, Plug and Play, outreach partners Impact Circle and Cradle Fund\u2019s MYStartup, and funding partners Gobi Partners, 500 Global and Agrobank. The challenge aims to seek innovative solutions such as alternative animal feed sources, alternative fertilizers, on-farm technologies, financing, and supply chain solutions to enhance efficiency and productivity in the agri-food industry. The ten KIIC finalists will receive an award of up to MYR 500,000 ($109,589) each in the form of grants and the opportunity to pitch for potential equity investments and/or debt funding from Khazanah and its funding partners. It is noted that this year\u2019s challenge theme was derived from escalating concerns about climate change and its potential threat to food security. According to Khazanah, climate change poses an imminent threat to the agri-food sector, globally. It said that prolonged dry spells, heatwaves, intense rainfall, and floods are already ruining food production across continents, leading to plummeting crop yields and the destruction of livestock and food stocks. Cited intergovernmental panel on climate change, it projected 5 percent to 32 percent decline in crop yields due to climate change by 2050, which is further exacerbated by an estimated 60 percent increase in global food demand by the same year, driven by population growth as modeled by the Food and Agriculture Organization. KIIC 2023 is now calling for applications from impactful Malaysian businesses that have developed innovative and commercially viable solutions to address the challenges posed by climate change on Malaysia\u2019s food security. The online application opens today and will end on 4 September 2023. \u201cDana Impak is pleased to bring together partners from various sectors to explore opportunities to collaborate with, and tap into the wealth of talent and expertise among Malaysian startups and MSMEs within the agri-food space,\u201cAs climate change poses an increasing threat to food security in our country, we hope that through this challenge, we can offer the necessary support and a wide-reaching platform to attract capital for innovative and sustainable solutions for the identified theme, which is aligned with our long-term strategy of Advancing Malaysia,\u201d said Khazanah Managing Director Amirul Feisal Wan Zahir. The competition is open to all Malaysian-based business entities. All applications will be carefully assessed, and only successful applicants will be selected to participate in KIIC 2023. Shortlisted applicants will receive an invitation for Demo Day and finalists will be announced in October 2023. Khazanah is the sovereign wealth fund of Malaysia entrusted to deliver sustainable value for Malaysians. In line with its long-term strategy of advancing Malaysia, Khazanah aims to deliver its purpose by investing in catalytic sectors, creating value through active stewardship, increasing its global presence, as well as building capacity and vibrant communities for the benefit of Malaysians. Singapore\u2019s Antler partners Khazanah to launch and invest in Malaysia"}, {"url": "https://technode.global/2023/07/25/teslas-entry-into-malaysia-could-lead-to-structural-change-in-local-automotive-industry-but-lack-of-charging-hubs-remains-a-challenge/", "page": 23, "title": "Tesla\u2019s entry into Malaysia could lead to structural change in local automotive industry but lack of charging hubs remains a challenge", "contents": "Electric vehicle maker Tesla\u2019s competitive price is disruptive to the (ICE) and electric vehicle (EV) market in Malaysia, according to Affin Hwang Investment Bank. \u201cTesla\u2019s pricing strategy in Malaysia is competitive for two primary reasons. Firstly, the D2C model allows Tesla to bypass traditional dealership systems, reducing costs and streamlining the sales process. Secondly but most importantly, Tesla could price its Model Y competitively without worrying about cannibalizing its existing product lineup,\u201d analyst Afifah Ishak wrote in a note on Monday (July 24). Most EV brands from the other manufacturers, are priced higher than their internal combustion engine (ICE) counterparts, she said. Besides, she noted that existing EVs brands in Malaysia are priced significantly higher than in international markets, while Tesla\u2019s prices on the other hand are remain more comparable. \u201cUltimately, we believe that Tesla\u2019s presence will not only impact the EV space but also encroaches into the traditional ICE vehicle market, given the Model Y\u2018s price points, which pitches it against popular models in the C segment and D segment range,\u201d the analyst added. Last week, Tesla made a significant impact in Malaysia with the launch of its highly competitive Model Y vehicle, priced from MYR199,000 ($43,523) to MYR288,000 ($62,988) for different variants, which drew a favorable crowd and is expected to garner impressive bookings, Afifah said. According to her, the EV race in the country was initially stimulated by government tax breaks announced in Budget 2022, including duty exemptions and road tax waivers until December 2025. However, the real catalyst for the EV frenzy was the support from Peneraju\u2019s Global BEV (Battery EV) program, enabling Tesla to adopt a Direct-to-Consumer (D2C) model by bypassing the requirement of franchised Approved Permits (AP). Kenanga Investment Bank Research expects Tesla likely to be well-received due to the Model Y\u2019s price competitiveness against competitors in the same segment. \u201cWe believe the famed EV is likely to be well received domestically. However, we do not expect it to pose a meaningful threat to the local automotive industry over the immediate term as more than 70 percent of vehicles sold locally carry a price tag of less than MYR100,000 including close to 40 percent under the MYR50,000 mark, although we do see it potentially giving internal combustion engine (ICE) SUVs of Berjaya Auto Bhd a run for their money, subject to charging infrastructure becoming more widely available in Malaysia,\u201d analyst Wan Mustaqim Wan Ab Aziz wrote in a note on Friday (July 21)According to him, the Model Y is competitively priced against its closest competitors in the compact SUV segment (excluding China-brand EVs).\nThe first delivery of Model Y is expected in the first quarter next year (1Q24) from its Shanghai Gigafactory with an estimated pre-booking units of more than 2,000 units, with up to 4,000 units per year (average waiting period about 6 to 8 months). Its next model to be launched is Tesla Model 3, which could be priced competitively at MYR150,000 ($32,805) with a driving range of 438km. According to Wan Mustaqim, Tesla\u2019s entry is also expected to boost EV-related technology transfer. \u201cTesla\u2019s presence in Malaysia is expected to create skilled and better- paying job opportunities for workers in the BEV segment and increase the participation of local companies in the Tesla ecosystem, both domestically and globally and further, to strategically leverage on Malaysia electrical and electronics ecosystem to make Malaysia the preferred investment destination for technology related to low-carbon mobility,\u201d he said. Tesla Malaysia roadmap unveiled that a comprehensive development plan for experience centre, service and support, and charging infrastructure in the country, aimed at delivering a seamless Tesla ownership experience and building an EV \u201csupercharger\u201d network (currently 10 chargers with at least 50 Superchargers within three years and at least 30 percent usable by other brands). Meanwhile, TA Securities analyst Angeline Chin said it is still unclear if Tesla will set up any local assembly facility in Malaysia or source local EV parts and components. \u201cShould this happen, it can expedite the development of the EV ecosystem in Malaysia and increase consciousness of sustainability, in our view,\u201d she wrote in another research note on Monday. Tesla operates on a direct-to-consumer sales model without involving the use of dealers. All bookings are made online while Tesla experience centres function as physical showrooms and delivery centers, Kenanga\u2019s Wan Mustaqim noted. \u201cWith more than 70 percent of automotive total industry volume (TIV) vehicles sold priced less than MYR100,000, and close to 40 percent at less than MYR50,000 mark, it is still far from being an affordable price range to fully replace ICE vehicles, despite the Tesla EVs\u2019 attractive pricing, and low financing rate, he said. \u201cFrom the lack of EV charging stations to the lack of a holistic strategy in building up a robust EV ecosystem, ICE will still be in dominance,\u201d he wrote in a note. The analyst also said he believes the challenges faced in ramping up charging hubs could be a hindrance for potential buyers of electric vehicles looking for out-of-town long drive. Apart from financial support, Gentari (a subsidiary of Petronas) has been able to ramp up its charging station installation capacity due to its access to the chain of Petronas stations owned by Petronas Dagangan nationwide, where it can readily put up charging points at strategic locations. However, there are speed bumps hampering the expansion of the charging network of which Gentari listed land acquisition, the tedious process of obtaining various local authorities\u2019 approvals to set up a charging hub, and having sufficient energy to power up the charging points, Kenanga\u2019s Wan Mustaqim noted. \u201cNevertheless, the underlying issue remains the lack of a holistic strategy in building up a robust EV ecosystem that will encourage the adoption of EVs, building up of technology and talent, and the related industries,\u201d he said. While there are numerous issues to tackle before Malaysia can drive on the EV track, having enough charging points is the crucial first step, he added. \u201cThere are only about 1,000 charging stations available at present, compared to the Ministry of International Trade and Industry (MITI) expectation of 4,000 charging points by the end of this year. Under the Low Carbon Mobility Blueprint 2021\u22122030, the government aims to install 10,000 public charging stations by 2025 (1,000 DC chargers, 9,000 AC chargers). The need for more charging stations is made more urgent with the increasing number of electrified vehicles registered in Malaysia, the analyst pointed out. Currently, there are already more than 100,000 electrified vehicles which include over 10,000 EVs, 80,000 petrol-electric hybrid vehicles and 2,700 diesel-electric hybrids, Wan Mustaqim wrote in the research note. Tesla to invest in Malaysia, boosting the country\u2019s sustainable mobility"}, {"url": "https://technode.global/2023/07/24/ni-hsin-partners-australias-vmoto-for-ev-motorcycles-assembly-and-distribution-in-malaysia/", "page": 23, "title": "Ni Hsin partners Australia\u2019s Vmoto for EV motorcycles assembly and distribution in Malaysia", "contents": "Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH)Ni Hsin said in a statement on Monday that both parties have signed a memorandum of understanding (MOU), to assemble and distribute VMOTO branded F01, CPX Pro and TC Max. Under the MOU, VMOTO and NH EV TECH agree to exercise their best efforts to forge a strategic alliance which will include executing a distribution agreement and entering into a joint venture structure. This is subject to reaching certain sales milestones, to assemble the VMT EVs in Malaysia, and to promote and win market share through business-to-consumer (B2C) sales, business-to-business (B2B) and business to government (B2G) marketing channels in Malaysia.   According to Ni Hsin, the rationale of the MOU is that this strategic collaboration enables both parties to expand their share of the two-wheeler EV market. It said that VMOTO has the right fit of products for the B2B and B2G market segments in this region which are significant components of the firm\u2019s business model. \u201cWe are delighted to work with VMOTO as they have the right fit of products for the B2B and B2G market segments in this region,\u201d said Khoo Chee Kong, Managing Director of NH EV TECH.  According to him, this strategic collaboration enables both parties to expand their share of the two-wheeler EV market. \u201cThe products are just what the market needs especially in the B2B and B2G segments, \u201cThe high-performance electric motorcycles manufactured by VMOTO is well suited for the security enforcement functions of organizations be it business or governmental,\u201d he said. He also said the firm\u2019s business model covers B2B and B2G segments and its target customers include the police force, armed forces, road and transport department, customs department, ports, security companies and the like. VMOTO is a global electric vehicle company and holds a manufacturing license in China to produce electric motorcycles and mopeds at its wholly owned state of the art, 30,000 sq. m manufacturing and warehouse facility in Nanjing, China. The company manufactures and distributes high performance and competitive electric vehicle products to international B2B and B2C markets under three brands globally, Vmoto, Super Soco and Ducati. Vmoto is VMOTO\u2019s proprietary brand, targeting international B2C premium markets and B2B Fleet markets, while Super Soco is a brand targeting international B2C markets. Ducati is CUX Ducati special edition, a premium vehicle manufactured by VMOTO and distributed to all B2C markets under a worldwide licensing agreement.  VMOTO\u2019s global market coverage includes Europe, Asia Pacific, North America, South America, Australia, New Zealand and South Africa. Its global B2C distribution network comprises 62 international distributors and over 1,500 dealers in more than 65 countries. \u201cWe are delighted to have signed an MOU with NH EV TECH, which represents the first stage of our cooperation, \u201cWe identified NH EV TECH as an ideal partner for VMOTO within the Malaysian market, due to their experience and dedications in Malaysia EV sector,\u201d said VMOTO\u2019s Managing Director Charles Chen. According to him, the firm has been in discussions with NH EV TECH for quite some time and are confident this MOU represents the first step in establishing a long-term successful business relationship. \u201cMalaysia is a market we have been researching and we believe our expansion into this market will be a great success, with a number of milestones to be achieved in the coming months to secure sales growth and market share over the coming years, he added. According to the statement, Malaysia is the 12th largest internal combustion engine (ICE) two-wheeler market in the world, having sold approximately 4 million units between 2014 and 2022, and two-wheeler EVs only account for 1.7 percent of the registered motorcycles in Malaysia, which represents huge opportunity for the EV motorcycle. It noted that the Malaysian government policies point to increasingly supporting the adoption of two-wheeler EVs and the Malaysian two-wheeler EV market is predicted to grow at 15.4 percent compound annual growth rate (CAGR) for 2021-2027 and the growth is primarily driven by the government initiatives.  It said that current Malaysian government policies and targets support the transition of the ICE two-wheeler to two-wheeler EVs, including tax incentives, installation of charging infrastructure and net-zero greenhouse gas in 2050, increasing Malaysia MYR 100 billion ($32 billion) gross domestic product value in the green technology sector and generating 230,000 green job opportunities. It is anticipated that Malaysian government will introduce and  implement more initiatives to speed up the transition from traditional ICE two-wheeler vehicles to two-wheeler EV.   With VMOTO\u2019s products and experience in EV industry together with NH EV TECH\u2019s local market knowledge and dedications, it said both parties can create synergy and have significant benefits together to gain market share in the growing two-wheeler EV market in Malaysia. Malaysia\u2019s Ni Hsin partners UNIVERSITI TEKNIKAL MARA to promote EV motorcycles"}, {"url": "https://technode.global/2023/07/24/mdec-expects-high-tech-malaysian-companies-to-generate-55m-in-digital-export/", "page": 24, "title": "MDEC expects high-tech Malaysian companies to generate $55M in digital export", "contents": "Malaysia Digital Economy Corporation (MDEC) MDEC said in a statement on last Friday that its recent DEX Connex and FOX Xposure programs, in partnership with KUMPUL, an Indonesian entrepreneur ecosystem builder,  aimed to enhance collaborative relationships between hightech companies in Malaysia and Indonesia.  The programs served as a valuable platform for participants to engage, expand their reach, showcase technology companies from Malaysia, and facilitate business growth opportunities towards driving the digital economy in ASEAN. The programs also witnessed a significant milestone with exchanging of Memorandums of Understanding (MoU) between Malaysian and Indonesian companies. Malaysian companies include Faszz Technology (M) Sdn Bhd; TRB Ventures Sdn Bhd (MHub); Verofax Asia Sdn Bhd and PT The Lorry Online Indonesia. Meanwhile, Indonesian partners include PT Envy Tbk; PT. Aksi Visitama (Tada); PT. Marega Kernel Teknologi and PT Mitrausaha Indonesia Grup (Modalku). The MoU exchanges are to further solidify the collaboration between the two nations. MDEC Chief Executive Officer Mahadhir Aziz has highlighted the importance of fostering collaboration and knowledge-sharing as key drivers for innovation and growth in the digital economy. Meanwhile, MDEC has recently launched MDEC Horizon Publication, a comprehensive and strategic publication that offers invaluable insights and information on Malaysia\u2019s digital landscape. The publication serves as the go-to reference for global and local stakeholders seeking reliable data and informed perspectives. MDEC will also be launching the MDX 2023 in September, an event that celebrates and amplifies all tech events with participations of international and local speakers, andMalaysia\u2019s MDEC eyes $230M digital investments by 2025"}, {"url": "https://technode.global/2023/07/21/malaysias-sime-darby-motors-partners-uks-astrazeneca-to-accelerate-electric-vehicle-adoption/", "page": 24, "title": "Malaysia\u2019s Sime Darby Motors partners UK\u2019s AstraZeneca to accelerate electric vehicle adoption", "contents": "Malaysia\u2019s automotive playerBoth parties said in a statement on Friday that they have formalized their collaboration through the signing of a Memorandum of Understanding (MoU). According to the statement, the partnership with Sime Darby Motors marked AstraZeneca\u2019s commitment to transition to EV fleet in line with its Ambition Zero Carbon sustainability program to reduce carbon emission and address climate change. Ambition Zero Carbon is AstraZeneca\u2019s decarbonization strategy to reduce carbon footprint and achieve net-zero emissions for planetary health. This partnership between a biopharmaceutical company and Sime Darby Motors is the first in Malaysia and would entail the provision of corporate rates to AstraZeneca\u2019s employees to own an EV vehicle, in particular, BMW, BYD and Hyundai. The initiative aligns with the growing trends of corporations prioritizing environmental sustainability and addressing the urgent need to combat climate change. This partnership also demonstrates the commitment to reduce carbon emission by addressing environmental issues, in an effort to achieve greener growth towards rebuilding a better and sustainable future. AstraZeneca commented that through partnerships such as this, the company is able to maximize its transition to EVs to reduce carbon footprint. As EV fleet embraces renewable energy resources for charging, it opined that the environmental impact on the planet can be proactively managed. Through AstraZeneca\u2019s Ambition Zero Carbon sustainability programme, it said the company is pursuing ambitious decarbonization targets, accelerating its progress towards\u201cWe have very clear EV ambitions at Sime Darby Motors and partners such as AstraZeneca play important roles as enablers in helping us achieve our target of a more energy-efficient product portfolio by 2025 and becoming a leader for EV in Malaysia\uff0c\u201cWe are committed to supporting AstraZeneca in their transition to EV and this collaboration marks a crucial part of our efforts to achieve a wider EV adoption in Malaysia as well as to help achieve our mission to be future-ready in the automotive industry,\u201d said Jeffrey Gan, Managing Director of Sime Darby Motors Retail and Distribution \u2013 Southeast Asia, Hong Kong and Macau. According to the statement, Sime Darby Motors\u2019 offerings to support the country\u2019s EV include a wide spectrum of world leading brands such as BMW, MINI, Jaguar, Land Rover, Porsche, Volvo, Hyundai, BYD and Ford. With a focus on a more energy efficient product portfolio, Sime Darby Motors is expanding its EV line-ups, charging network, as well as highly skilled workforce for EV retail and aftersales services. The company is also committed to continuously upgrade the skills of its technical team to prepare for the future of automotive. Sime Darby Motors is an automotive group representing luxury brand such as BMW, Rolls-Royce, Jaguar, Land Rover, and Porsche to broad appeal market brands including Ford and Hyundai, as well as commercial vehicles. The firm is actively involved in all facets of the automotive business \u2013 from importation and assembly, to distribution, retail, and rental. In Malaysia, Sime Darby Motors operates 29 dealerships representing the BMW, MINI, Motorrad, BYD, Hyundai, Ford, Jaguar, Land Rover, Porsche, Volvo, and Auto Selection brands. AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialization of prescription medicines in oncology,Based in Cambridge, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Sime Darby, AEI Capital become limited partners in Vynn Capital\u2019s $30M fund"}, {"url": "https://technode.global/2023/07/21/grab-could-achieve-adjusted-ebitda-breakeven-in-3q-following-layoff-exercise-say-cgs-cimb-analysts/", "page": 24, "title": "Grab could achieve adjusted EBITDA breakeven in 3Q following layoff exercise, say CGS-CIMB analysts", "contents": "Southeast Asia-based superapp \u201cLayoff exercise in June leads us to believe Grab can achieve adjusted EBITDA breakeven in 3Q23F (forecast), one quarter ahead of guidance,\u201d CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan wrote in a research note on Thursday. \u201cWe expect Grab\u2019s on-demand gross merchandise value (GMV) to re-accelerate to $3.8 billion as deliveries segment returned to GMV year-on-year (y-o-y) growth while mobility\u2019s GMV recovery continued,\u201d they noted. Given the healthy competitive landscape for on-demand service players in Southeast Asia, the analysts believed Grab was able to further scale back on its incentive levels and increase monetisation in 2Q23. \u201cWe estimate Grab\u2019s mobility segment GMV and adjusted EBITDA rose 25 percent and 30 percent y-o-y respectively in 2Q23F, with tailwinds from the economic reopening and tourism recovery in Southeast Asia. Tight driver supply in the Singapore (due to high certificate of entitlement prices) enabled Grab to raise its platform fee by S$0.40 per ride in May 2023,\u201d the analysts noted. Trans-Cab\u2019s acquisition expands driver base, enables synergiesGrab announced on Thursday it has acquired Trans-cab, the third largest taxi operator in Singapore with a fleet size of 2,500 taxi or cars at a consideration of about S$100 million/  $75.23 million, according to \u201cAside from expanding Grab\u2019s driver base, we believe Trans-Cab\u2019s street hail licence could enable synergies including lower procurement costs. The transaction is minimally earnings accretive and expected to close by 4Q23, according to Grab,\u201d the analysts wrote. \u201cWe estimate a Generally Accepted Accounting Principles (GAAP) net loss of $213 million, taking into account one-off restructuring costs with regards to its layoff exercise in June of about circa $35 million,\u201d the report added. CGS-CIMB forecasted that Grab deliveries\u2019 GMV to be at $2.5 billion in 2Q23F, riding the demand recovery post Islamic fasting month of Ramadan. \u201cWe think Grab likely gained GMV market share versus Gojek in Indonesia as the latter guided for moderation of GMV in 2Q23 on the back of cost cutting measures. We expect Grab\u2019s adjusted EBITDA to GMV ratio further expanded to 3.0 percent in 2Q23F, but forecast a more gradual pace of margin expansion in second half of 2023 (2H23) given strategic shift back towards growth as it nears adjusted EBITDA breakeven,\u201d the analysts wrote. \u201cWe lift our FY23F to FY25F adjusted EBITDA forecasts as we factor in cost savings from Grab\u2019s recent layoff exercise. We expect Grab to achieve adjusted EBITDA breakeven by 3Q23F,\u201d they said, adding that the research house reiterated \u201cAdd\u201d rating and sum-of-parts (SOP)-based target price of $4.50, as they still see a healthy competitive landscape enabling Grab to continue on its path to profitability. Grab acquires Singapore\u2019s third largest taxi operator Trans-cab through its GrabRentals arm"}, {"url": "https://technode.global/2023/07/21/atome-partners-tiktok-shop-to-drive-e-commerce-growth-in-malaysia/", "page": 24, "title": "Atome partners TikTok Shop to drive e-commerce growth in Malaysia", "contents": "AtomeThis strategic partnership enables businesses of all sizes, but particularly young entrepreneurs and small and medium enterprises (SMEs), to harness the potential of online shopping and foster economic growth in the country, Atome said in a statement on Friday.  \u201cThis partnership between TikTok Shop and Atome signifies a milestone in the e-commerce landscape in Malaysia, heralding a new era of convenience, accessibility, and growth for businesses and consumers alike,\u201d said William Yang, Head of Commercial of Atome. \u201cBy integrating Atome as a payment option on TikTok Shop, we\u2019re excited to help drive ecommerce growth and support brands of all sizes, but especially SMEs and young entrepreneurs in Malaysia while also providing consumers with the choice, convenience and flexibility of how they want to shop and pay,\u201d he added. According to the statement, Malaysia\u2019s e-commerce industry has experienced tremendous growth in recent years, with a surge in digital adoption and changing consumer behavior. Cited Statista, it said online shopping in Malaysia is projected to exceed MYR 84 billion ($18.42 billion) by 2025. It said this trend not only signifies a shift in consumer preferences but also presents a significant opportunity for local businesses to thrive in the digital marketplace. It said that Atome\u2019s \u201cbuy now, pay later\u201d service offers consumers the flexibility to make purchases and spread deferred payments over three or six months.  With Atome live as a payment option on TikTok Shop in Malaysia, it said consumers can enjoy an enhanced online shopping and checkout experience. With TikTok Shop\u2019s innovative social commerce features and Atome\u2019s convenient payment solution, it said entrepreneurs can leverage the power of e-commerce to expand their reach and drive sales growth. \u201cTikTok Shop is about elevating the shopping experience for consumers and providing brands and small businesses with opportunities to drive growth \u2013 all of which is done by bringing together content and commerce, \u201cThrough this partnership with Atome, TikTok Shop enables merchants and small businesses to offer their customers a convenient and flexible payment option,\u201d said Jonathan Low, E-commerce Lead of Strategy and Special Projects, TikTok Shop. It is noted that Atome recently announced the first-of-its-kind Lender of Record partnership with Standard Chartered Bank in Singapore, which has resulted in over 100,000 transactions booked since April. A similar partnership will also be rolled out to Malaysia soon. This partnership, which is part of a ten-year multi-product strategic collaboration with the bank, enables Atome to grow and promote financial inclusion for its millions of customers across the region, while enhancing the bank\u2019s access to retail customers. Atome is Southeast Asia\u2019s digital consumer financing platform, which offers users flexible payment, as well as smart saving and rewarding shopping options. Available across thousands of online and offline brands across the region, Atome offers consumers choice, convenience and flexibility in how they choose to shop and pay. Atome partners with Amazon to offer deferred payment option during checkout in Singapore"}, {"url": "https://technode.global/2023/07/21/malaysias-worq-partners-de-rantau-to-bring-high-value-jobs-to-malaysia-worth-over-79m/", "page": 24, "title": "Malaysia\u2019s WORQ partners DE Rantau to bring high-value jobs to Malaysia worth over $79M", "contents": "WORQThis collaborative effort aims to support the initiatives to uplift Malaysia\u2019s competitiveness as the destination of choice for global digital nomads and bring high-value jobs in information technology (IT), digital marketing and content creation into Malaysia, WORQ said in a statement on Monday. According to the statement, this is the latest initiative spearheaded by MDEC following the successful MDH and MTEP programs. This collaboration with DE Rantau also signifies WORQ\u2019s efforts to actively contribute to the development and advancement of the digital economy in Malaysia through providing high-quality, conducive and flexible workspace across all its locations in Malaysia, with a strong WORQ community ready to support the digital nomads from the mental and social aspects while fostering potential collaborations to grow their business. The WORQ with DE Rantau program is estimated to inject MYR 360 million ($79.07 million) into the Malaysian economy by supporting 6,000 highly skilled workers to the workforce as well as enabling new businesses into the economy. Each digital nomad is estimated to spend around $1,250 per month with an average time spent in one location between three to nine months. To date, DE Rantau has issued 536 passes to foreign digital nomads. This initiative will also be extended to the digital nomads travelling to Alunan Resort on Perhentian Island, in the East Coast state of Terengganu, who will have access to WORQ Express, its seventh and self-service coworking space on the island. WORQ Co-Founder and Chief Executive Officer Stephanie Ping said the program is a step to attract more digital nomads to Malaysia. \u201cThese skilled individuals contribute to the local economy and have become a critical part of the global workforce,\u201cWith this program, we are making Malaysia the destination of choice for the large global workforce as well as businesses looking to set up offices in the region,\u201d she said. She also said the DE Rantau program\u2019s ambitious goal to secure Malaysia\u2019s position as the top digital nomad destination in the ASEAN region has become a reality. By participating in the WORQ with DE Rantau program, all pass holders are recognized as WORQ community members and will have access to all WORQ events and community initiatives where they can meet, connect and collaborate with like-minded individuals. This is part of a larger national initiative to reinforce Malaysia\u2019s position as a global business hub, attracting multinational corporations (MNCs) to set up regional offices in Malaysia and thereby creating high-value jobs in the country, especially in the tech and digital sectors. At present, foreign companies setting up offices in Malaysia make up about 30 percent to 40 percent of WORQ\u2019s clientele. This initiative to attract foreign digital nomads through the DE Rantau program will further enhance the ability of WORQ to attract foreign companies into Malaysia. Through this partnership with WORQ, digital nomads can now travel and work remotely across various locations in Malaysia while having access to high-speed broadband connectivity and various other facilities and services that support the nomadic lifestyle. \u201cWORQ has consistently demonstrated their dedication in nurturing the digital ecosystem,\u201cThey have successfully proven their strong capability to empower global companies to set up offices in Malaysia through the adoption of flexible workspaces, which is the backbone infrastructure for businesses,\u201d said Mahadhir Aziz, Chief Executive Officer of MDEC. According to him, this collaboration not only addresses the surging demand for digital transformation but also underscores their unwavering commitment to positioning Malaysia as the leading digital hub in ASEAN. \u201cThrough the Malaysia Digital (MD) national strategic initiative and its PEMANGKIN programs, we aim to generate significant economic spillover and enrich the digital economy,\u201cTogether, we are poised to unlock boundless opportunities for digital nomads, drive digital transformation, and foster exceptional economic growth in Malaysia,\u201d he added. Since its inception in 2017, WORQ has successfully launched seven new outlets and maintained profitability. By 2030, the coworking space industry is projected to grow to MYR 1.3 billion ($290 million) and with its steadily progressing expansion strategy, the company has aggressive plans to expand its total space under management to 450,000 square feet by 2025. \u201cIn line with the Malaysian Startup Ecosystem Roadmap (SUPER), we recognize the critical role of talent in developing a thriving digital workforce that continuously fosters highly skilled tech professionals. WORQ plays a crucial role in fulfilling our mission by providing a conducive environment and a thriving ecosystem for startups and entrepreneurs. By offering a supportive community, WORQ expedites the path to success for startups once they secure funding. We are proud to support WORQ as they embark on this collaboration with DE Rantau and continue to play a significant role as the ecosystem enabler, accelerating the growth of Malaysia\u2019s digital economy as well as the startup ecosystem,\u201d shared Norman Matthieu Vanhaecke, Acting Group CEO of Cradle Fund Sdn Bhd (Cradle). WORQ on track to double total space under management to 200,000 sqf by year end"}, {"url": "https://technode.global/2023/07/21/malaysia-grants-licence-to-elon-musks-starlink-to-bring-internet-services-to-rural-areas/", "page": 24, "title": "Malaysia grants licence to Elon Musk\u2019s Starlink to bring Internet services to rural areas", "contents": "Malaysia has issued a licence to Starlink, the satellite communications service started by tech billionaire Elon Musk, to provide Internet services in the country, particularly in rural areas, according to Communications and Digital Minister Fahmi Fadzil. \u201cI have recently handed over the license for facilities and network services to a representative from Starlink. This allows Starlink to provide satellite Internet services in Malaysia, especially in rural areas,\u201d he wrote in a Facebook post on Thursday. According to the minister, currently, 97 percent of populated areas in Malaysia have Internet access. However, the remaining 3 percent face challenges due to geographical locations, such as remote rural areas or isolated islands, making network infrastructure development difficult. Therefore, Fahmi said the government is willing to collaborate with satellite internet service providers, including Starlink, to achieve 100 percent internet access in populated areas. Hopefully, Starlink will begin their services in higher learning institutions and schools first, as announced by Prime Minister Anwar Ibrahim last week, he added. The announcement comes after the virtual meeting between Anwar and Musk Starlink, a satellite internet constellation operated by SpaceX, provides high-speed, low-latency broadband internet across the globe. Founded in 2002 by Musk, SpaceX is a spacecraft engineering company which designs, manufactures and launches advanced rockets and spacecraft in a bid to \u201crevolutionize\u201d space technology. With Starlink, users can engage in activities that historically have not been possible with satellite internet, information from SpaceX\u2019s website showed. Starlink\u2019s high-speed, low-latency service is made possible via the world\u2019s largest constellation of highly advanced satellites operating in a low orbit around the Earth, the company claimed. Meanwhile, on Thursday, Musk\u2019s electric vehicle maker Tesla has unveiled its sport utility electric vehicle, Model Y, in Kuala Lumpur, with deliveries to Malaysia to begin next year. Tesla will also establish its experience centers in key metropolitan areas across Malaysia, where customers can explore and experience the latest electric vehicle models first hand. It will also invest in setting up a network of fast-charging and regular-charging stations across strategic locations in Malaysia. The government earlier this year approved Tesla\u2019s application to import battery-run EVs into the country. Malaysia PM Anwar Ibrahim discusses Starlink satellite service with Elon Musk"}, {"url": "https://technode.global/2023/07/20/tesla-to-invest-in-malaysia-boosting-the-countrys-sustainable-mobility/", "page": 24, "title": "Tesla to invest in Malaysia, boosting the country\u2019s sustainable mobility", "contents": "Tesla Sdn. Bhd. (Tesla)Tesla and Malaysian Investment Development Authority (MIDA) said in a statement that Tesla is committed to introducing its cutting-edge lineup of electric vehicles to Malaysian consumers by offering its Model 3 and Model Y into the market. As the company aims to cater to the diverse needs and preferences of Malaysians, more of its models will be introduced in the future. To address the crucial aspect of charging infrastructure, Tesla will also invest significantly in setting up a vast network of fast-charging and regular-charging stations across strategic locations in Malaysia. This initiative is aimed at providing electric vehicle (EV) owners with a seamless and convenient charging experience, encouraging widespread EV adoption in the country. Tesla is also set to establish its state-of-the-art head office and service centre in Cyberjaya, Selangor, Malaysia, which will serve as the central hub for all corporate operations, marketing, training, customer support activities and vehicle services equipped with advanced diagnostic tools and staffed with highly trained Tesla technicians to offer prompt and reliable after-sales services to customers. Tesla will also establish its experience centers in key metropolitan areas across Malaysia, where customers can explore and experience the latest electric vehicle models first hand. These centers will serve as interactive spaces for potential buyers to gain insights into the benefits of electric mobility and receive personalized assistance from knowledgeable Tesla. \u201cTesla\u2019s mission is to accelerate the world\u2019s transition to sustainable energy,\u201d said Tesla\u2019s Regional Director Isabel Fan. As part of Tesla\u2019s commitment to Malaysia, she said the firm has unveiled a comprehensive development plan for experience center, service and support, and charging infrastructure in the country, aimed at delivering a seamless Tesla ownership experience. \u201cWe\u2019re committed and excited to help driving a zero emission and greener future for Malaysia,\u201d she added. With its steadfast commitment to innovation, sustainability and customer satisfaction, Tesla is primed to revolutionize the Malaysian automotive market and contribute significantly to the nation\u2019s environmental goal to become carbon neutral by 2050, in alignment with Malaysia\u2019s pledge to reduce carbon emissions under the United Nations Framework Convention on Climate Change (UNFCCC). Additionally, under the Low Carbon Mobility Blueprint (LCMB) 2021-2030, Malaysia is set to achieve at least 15 percent of xEVs out of the total industry volume (TIV) by 2030 and 38 percent of xEV by 2040 under the National Energy Policy (NEP) 2022 \u2013 2040, with 10,000 units of charging facilities built by 2025 (comprising 9,000 alternating current [AC] units and 1,000 direct currents [DC] units). According to the statement, Tesla\u2019s expansion in Malaysia is a direct response to the Battery Electric Vehicle (BEV) Global Leaders initiative introduced by the Ministry of Investment, Trade and Industry (MITI) of Malaysia. \u201cWe are pleased that Tesla has chosen Malaysia as one of its destinations for their expansion in Southeast Asia,\u201cTheir commitment to sustainable mobility is closely aligned with Malaysia\u2019s vision for a greener future, and our New Industrial Master Plan 2030\u2019s push for net zero,\u201d MITI Minster Zafrul Aziz said. According to him, MITI is focused on transforming its industrial and investment landscape to not only attract companies like Tesla to help enhance our domestic suppliers\u2019 position in global value chains, but also open up new \u2018greener\u2019 economic opportunities and create higher-paying jobs for Malaysians. \u201cTesla\u2019s presence here will also help raise Malaysia\u2019s pro-business and pro-investment credentials on the global stage, and we look forward to welcoming more multinational investors that share our vision of developing a more sustainable, balanced and inclusive economic growth for our nation,\u201d he said. It is also noted that the Malaysian Investment Development Authority (MIDA) has approved 58 projects totalling MYR 26.2 billion ($5.76 billion) in the EV and its related ecosystems from 2018 to March 2023. The approved investments span various areas, including EV assembly, manufacturing of EV parts and components as well as its charging components. As the demand for sustainable transportation continues to rise, MIDA\u2019s support and facilitation of these projects contribute to the advancement of the EV sector in Malaysia, fostering economic development, job creation, and a greener future. \u201cTesla\u2019s decision to choose Malaysia as its expansion destination highlights the country\u2019s attractiveness as an investment hub in the region,\u201d said MIDA Chief Executive Officer Arham Abdul Rahman. \u201cWe are pleased to support Tesla in establishing their operations and creating a strong presence in the Malaysian market, \u201cThe growth of electric mobility will play a pivotal role in Malaysia\u2019s sustainable development and we believe that Tesla will play a crucial part in this journey,\u201d he added. Tesla starts accepting orders in Malaysia"}, {"url": "https://technode.global/2023/07/19/sime-darby-aei-capital-become-limited-partners-in-vynn-capitals-second-fund/", "page": 24, "title": "Sime Darby, AEI Capital become limited partners in Vynn Capital\u2019s $30M fund", "contents": "Vynn CapitalVynn Capital said in a statement that this strategic collaboration aims to accelerate innovation and drive transformation in the rapidly evolving sectors of mobility and supply chain. The fund, which is targeted to close at $30 million, has also received investment commitment from Wide Technologies from Indonesia and other limited partners from Malaysia and Singapore. The new fund aims to support startups developing innovative solutions in areas such as smart mobility, transportation, logistics, and supply chain optimization. By combining the financial resources and industry knowledge of Sime Darby and AEI Capital with Vynn\u2019s venture capital expertise, the partnership is poised to provide startups with the necessary resources, mentorship, and access to networks to thrive in the evolving landscape of mobility and supply chain. The collaboration between Sime Darby, AEI Capital, and Vynn Capital signifies a shared commitment to supporting entrepreneurship and driving technological advancements in the mobility and supply chain sectors. By leveraging their collective resources and expertise, the partners aim to play a pivotal role in shaping the future of these industries and contributing to economic growth in ASEAN. \u201cWe are thrilled to welcome Sime Darby and AEI Capital as limited partners in our mobility and supply chain-focused venture capital fund,\u201d said Victor Chua, Founding and Managing Partner at Vynn Capital. \u201cTheir extensive experience and industry knowledge in the targeted sectors will significantly enhance our ability to identify and support startups with groundbreaking solutions,\u201cTogether, we aim to drive innovation, accelerate digital transformation, and shape the future of these key sectors in Southeast Asia,\u201d he added. With its latest fund, Vynn Capital aims to further strengthen its presence in the regional startup ecosystem by providing crucial financial support and industry expertise to startups focusing on mobility and supply solutions. The firm has identified and nurtured high-potential startups in Southeast Asia and partnerships with North Asian companies expanding into the region, with investments in companies like Carsome and Dropee, that have expanded into key markets across ASEAN. \u201cThis investment in Vynn Capital is in line with our mobility strategy that aims to futureproof our traditional core businesses against disruptive trends, \u201cWe are proud to be supporting the development of the Malaysian venture capital ecosystem, and we look forward to further collaborations with Vynn Capital\u2019s portfolio of companies,\u201d said Dato\u2019 Jeffri Salim Davidson, Sime Darby Berhad\u2019s Group Chief Executive Officer. According to the statement, Sime Darby which is a trading multinational in Asia Pacific, is expected to bring extensive experience and a diverse range of capabilities to this partnership. With deep knowledge and involvement in the automotive and industrial sectors, Sime Darby has established itself as a partner of choice for many of the world\u2019s brands such as BMW and Caterpillar. Sime Darby\u2019s investment in Vynn Capital\u2019s new fund demonstrates its commitment to driving innovation and supporting transformative solutions in new areas of mobility from electric vehicles (EVs) and batteries to alternative ownership models such as ride hailing and carsharing. AEI Capital, a firm known for its strategic investments in mid-market technology-driven businesses across Asia, is also excited to collaborate with Vynn Capital in this venture via its fund-of-funds investment arm. With its expertise in identifying disruptive businesses and its strong network of industry connections, AEI Capital is well-positioned to contribute to the growth and development of innovative solutions in the mobility and supply chain sectors. Its investment in Vynn Capital\u2019s new venture capital fund exemplifies its dedication to supporting entrepreneurs and driving technological advancements in Southeast Asia. John Tan, the Chairman and Chief Executive Officer of AEI Capital Group, also expressed the firm\u2019s sincere wish for strong strategic synergy with Vynn Capital in identifying and seizing strategic high growth investment opportunities in Southeast Asia. Malaysia\u2019s Vynn Capital shares research insights on Southeast Asia cross-border commerce landscape"}, {"url": "https://technode.global/2023/07/18/malaysia-pm-says-chinas-geely-to-invest-10b-to-build-domestic-auto-hub/", "page": 24, "title": "Malaysia PM says China\u2019s Geely to invest $10B to build domestic auto hub", "contents": "Chinese automobile manufacturer Geely will invest $10 billion in Malaysia and turn Tanjung Malim, Perak in Malaysia into the region\u2019s largest auto city, according to Malaysia Prime Minister Anwar Ibrahim. He said the aspiration, conveyed by the company in a letter to him on Monday night, would create thousands of job opportunities for Malaysians, state news agency \u201cI am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to me to inform that it wants to continue to make Tanjung Malim the largest auto city in the region. It will kick off with $10 billion or RM40 billion in investment,\u201d he said in his speech at an event. Geely Holding Group Co has a 49.9 percent stake in Malaysian carmaker Proton Holdings Bhd, the remaining stake is owned by Malaysian automotive manufacturer and distributor DRB-Hicom Bhd. Earlier in April this yearDRB-Hicom said then the AHTV will be Malaysia\u2019s next generation vehicle hub in Tanjung Malim covering extensive automotive and mobility solutions value chain, from a fully-fledged high technology global research and development centre to a manufacturing cluster and supporting services and associated ecosystem. The focus of the HOA is the development of an integrated automotive city that will give birth to a hub for a new energy vehicle (NEV) industry. AHTV will occupy an area of approximately 1,000 acres and will be expanded accordingly to cater for future needs. Over the next ten years, AHTV is expected to attract some MYR32 billion ($7.24 billion) worth of investments, including by national car company Proton. AHTV will also receive direct and indirect benefits from Proton\u2019s plan to fully relocate its manufacturing facilities to Tanjung Malim by 2026. AHTV will also include a research-based university to nurture new talents and development in areas of new and emerging technologies for the industry and the automotive sector in general. It will also house a research and development (R&D) center that will provide carmakers with a tropicalized setting to test their vehicles. With the global trend shifting towards NEV, Geely\u2019s role in the development of AHTV is apt, given the Chinese carmaker\u2019s wide experience in sector. Geely\u2019s flagship brand, Geely Auto, has launched several NEVs, including the intelligent luxury EV brand Zeekr. The company has also invested in a range of battery technologies and has a dedicated new energy division which is focused on developing and producing NEVs, and has announced plans to launch more than 30 new energy models across its brands by 2025. Malaysia\u2019s DRB-Hicom partners China\u2019s Geely to develop Automotive High-Tech Valley in Malaysia"}, {"url": "https://technode.global/2023/07/18/malaysian-clean-energy-firm-solarvest-embarks-strategic-initiatives-to-expand-into-singapore-and-brunei/", "page": 24, "title": "Malaysian clean energy firm Solarvest embarks strategic initiatives to expand into Singapore and Brunei", "contents": "Malaysian clean energy expert This includes a synergetic collaboration with Singapore partners to advance energy storage solutions (ESS) development in solar energy systems for enhanced energy stability and reliability, Solarvest said in a statement on Tuesday. According to the statement, Solarvest has successfully secured a total of nine commercial and industrial (C&I) rooftop solar photovoltaic (PV) installation projects across Singapore and Brunei, with a combined capacity of nearly 4.0 megawatt-peak (MWp). In addition, the group boasts a robust project tender book of 60.0 MWp for rooftop solar PV projects in Singapore and Brunei, positioning it to establish a strong market presence in advancing clean energy solutions in both countries. Solarvest opined that the prospects in both countries are highly promising, as Singapore has set its sights on reaching 2.0 GWp by 2030, while Brunei aims to achieve a solar energy target of 200.0 MWp by 2025. Solarvest\u2019s geographical footprint now includes Taiwan, the Philippines, Vietnam, Indonesia, Thailand, Singapore, and Brunei. This strategic expansion allows Solarvest to be well-positioned in tapping into new sources of overseas income. Apart from geographical expansion, Solarvest is also on track to promote energy sustainability in the C&I sectors, particularly the development of ESS within solar energy systems. With that, Solarvest\u2019s wholly owned subsidiary Solarvest Energy Sdn Bhd (SESB), has entered into a memorandum of understanding (MoU) with IDA Holdings Pte Ltd, an acclaimed Singapore-based multi-faceted industrial consultant, and Acumon Capital Pte Ltd (Acumon), a multi-disciplinary real estate developer and manager. The MoU will facilitate the comprehensive development of clean energy projects in the C&I sector, including investment management and land sourcing for ESS-integrated solar projects. Collaborative efforts will be directed toward submitting project proposals as well as undertaking the development and execution of the secured projects. The development of ESS-integrated solar projects involves leveraging lithium battery and hydrogen hybrid technologies to optimize energy usage, efficiently manage peak demand, and ensure a stable power supply. \u201cIn line with the Group\u2019s 5-Year Strategic Roadmap, our expansion into the Singapore and Brunei markets represents a crucial step in strengthening our ASEAN market presence,\u201d Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said. With that, he said the firm\u2019s total tender book for overseas projects currently stands at 720.0 MWp, indicating a strong job pipeline for the group. As part of its expansion strategy, he said the firm is progressing across the value chain as a holistic clean energy developer for selected overseas projects. In addition to offering EPCC services, he said the firm is actively involved in project development, securing financing, and providing comprehensive operations and maintenance services. \u201cAs Solarvest forges ahead, we are strategically positioning the group to capitalize on the ongoing shift toward clean energy by venturing into innovative sustainable offerings,\u201d he said. Through the tripartite MoU with IDA and Acumon, he said the firm aims to drive the C&I sector\u2019s transition toward a low-carbon economy in line with the United Nations\u2019 Sustainable Development Agenda. According to him, the development of ESS in solar energy systems is exciting, as it unlocks new possibilities for energy optimization, thereby empowering businesses\u2019 decarbonization journey with enhanced energy security and reliability. \u201cBy integrating Solarvest\u2019s clean energy capabilities with IDA\u2019s architectural expertise and Acumon\u2019s financial support, we are looking forward to creating a comprehensive framework for the deployment of ESS in clean energy projects, \u201cThis partnership represents an advancement towards a more robust clean energy ecosystem, accelerating the adoption of green solutions among industrial players,\u201d he added. Solarvest is a listed firm in Malaysia with a multi-national presence across Asia-Pacific. The company started as a one-stop solar PV system solution provider for residential, C&I, and utility-scale solar farms. Today, the firm owns renewable energy generation plants with a cumulative capacity of over 100MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Malaysia\u2019s Solarvest launches start-up program to encourage innovations in greentech, FinTech and renewable energy"}, {"url": "https://technode.global/2023/07/18/malaysias-gentari-appoints-navjit-gill-as-indias-country-head/", "page": 25, "title": "Malaysia\u2019s Gentari appoints Navjit Gill as India\u2019s Country Head", "contents": "Malaysian clean energy solutions provider As Country Head of Gentari India, Navjit will lead the team in growing all three core pillars, fortifying its presence not only in commercial and industrial sectors by 2025 but also in utility-scale renewables, as well as collaborating to propel the company\u2019s green hydrogen ambitions, and expanding its green mobility footprint, Gentari said in a statement on Monday. According to the statement, Gentari India also targets to pursue opportunities in areas where it can offer integrated clean energy solutions. Gentari India\u2019s initiatives will complement Gentari\u2019s 2030 global aspirations in building a renewable energy capacity of more than 30GW; supplying more than 0.7mtpa of clean hydrogen; and becoming Asia Pacific\u2019s preferred green mobility solutions provider by capturing over 10 percent market share of charging points and Vehicle-as-a-Service sectors across key markets in the region. Gentari said Navjit brings 34 years of experience in the energy and marine sectors to his new role, and was previously the Chief Executive Officer of First Energy Pvt Ltd and the Chief Commercial Officer at SB Energy. Throughout his illustrious career, he has held key positions at GE Renewables India Pvt Ltd, Rolls-Royce Marine India Pvt Ltd, and KSK Energy Ventures, further solidifying his expertise and accomplishments within the energy industry. Navjit began at Wartsila, where he spent almost 17 years in various assignments. \u201cNavjit\u2019s vast experience in the Indian energy sector, makes him an invaluable addition to the Gentari India team,\u201d said  Sushil Purohit, Chief Executive Officer of Gentari. With India\u2019s increasing focus on achieving net zero goals, he said the country presents extensive opportunities for global private players to contribute. \u201cWe have full confidence that Navjit will hit the ground running in developing our three core pillars: renewable energy, hydrogen and green mobility, \u201cAs India rapidly ascends to become the world\u2019s fourth largest economy and third largest energy consumer, Navjit\u2019s expertise will enable us to capitalize on this growth and make a significant impact,\u201d he added. Gentari is a clean energy solutions company, wholly owned by Malaysia\u2019s state-owned oil and gas firm Petroliam Nasional Bhd (Petronas). The firm is tasked to independently pursue and deliver integrated sustainable energy solutions. Malaysia\u2019s Gentari partners KPJ Healthcare to offer clean energy solutions"}, {"url": "https://technode.global/2023/07/18/tesla-starts-accepting-order-in-malaysia/", "page": 25, "title": "Tesla starts accepting orders in Malaysia", "contents": "Tesla has announced that its latest all-electric SUV, Model Y, is now available to order in Malaysia on its website. Model Y, a mid-size SUV, is the best-selling all-electric SUV in the world and one of the safest cars on the road, Tesla said, adding that the estimated delivery date will be in early 2024. \u201cAs part of Malaysia\u2019s commitment to promoting the adoption of low-carbon mobility and supporting the development of the electric vehicle (EV) industry, customers can enjoy full import and excise duties exemption for newly registered zero-emission Tesla electric vehicles (Completely Built-up electric vehicles) along with 100 percent road tax exemption,\u201d the company said in a statement. Tesla owners may also claim individual income tax relief of up to MYR2,500 on expenses related to the cost of installation, rental, purchase, including hire-purchase equipment or subscription fees for EV charging facilities, for the assessment year of 2023. Tesla\u2019s entry into the Malaysian market also came after more Chinese EV makers such as BYD are setting up shop here as the country builds more charging facilities for EV. Malaysian Prime Minister Anwar Ibrahim on Friday (Jul 14) said that electric vehicle company Tesla will set up its head office in Cyberjaya this year. The announcement came after Anwar met Tesla Founder and Chief Executive Officer Elon Musk via a virtual meeting earlier on Friday. In a statement, Anwar said he welcomes the interest and investment decisions of Tesla in Malaysia, as well as Musk\u2019s willingness to come to Malaysia. \u201cI also congratulate and appreciate the government\u2019s support for the opening of the headquarters, service center, and Tesla Experience Center owned by Elon in Selangor this year,\u201d he added. Malaysia PM Anwar Ibrahim discusses Starlink satellite service with Elon Musk"}, {"url": "https://technode.global/2023/07/17/aeon-credit-service-partners-aeon-financial-service-to-undertake-digital-islamic-bank-business-in-malaysia/", "page": 25, "title": "AEON Credit Service partners Aeon Financial Service to undertake digital Islamic bank business in Malaysia", "contents": "Malaysia\u2019s financial service firm AEON Credit said in a bourse filing last Friday that the firm has entered into a shareholders\u2019 agreement with AFS to regulate the rights and obligations of the parties in respect of ACS Digital Berhad (ACSD), which is preparing to be licensed as a digital Islamic bank to carry on digital Islamic banking. The business and operations of ACSD are to commence within 24 months from April 8, 2022. The total investment outlay and eventual share capital for the ACSD is estimated to be MYR 550 million ($121 million) during the foundational phase of up to five years from commencement of the digital Islamic digital banking business. AEON Credit and AFS will each contribute MYR 175 million ($38 million) to subscribe 175 million ordinary shares at MYR 1 ($0.22) in ACSD. Upon completion of the subscription, ACSD will be an associated company of AEON Credit. Upon compliance with the equity condition, the eventual equity structure in ACSD would be AEON Credit (35 percent), AFS (35 percent) and the Malaysian shareholder(s) (30 percent). The proposed joint venture will be fully funded by the AEON Credit\u2019s internally generated funds and is anticipated to contribute positively towards the earnings of the company in future over the long term after the launch of the digital Islamic banking business. AEON Credit said in a statement that the proposed joint venture signifies a timely opportunity for the firm to reach a wider pool of customers through ACSD\u2019s digital Islamic banking business by deploy combined expertise of all parties in providing financial services and solutions to customers, especially from the underserved and unserved market segments, adding dynamism to the banking landscape and contributing to the financial inclusion agenda in Malaysia.  \u201cWe are directing our energies to the creation of a thriving AEON Living Zone, our ecosystem that provides seamless and onestop solution by embedding multiple services & products including retails, financing, banking, insurance and entertainments,\u201d said Daisuke Maeda, Managing Director of AEON Credit. According to him, the integration of the firm\u2019s digital Islamic banking business onto the AEON Living Zone will enable the firm to meet customer lifecycle needs and expand its membership base for cross-selling activities which will drive transaction volume and market share for all of its businesses.  \u201cFurther, in line with our corporate philosophy to embrace financial inclusion for all the customer segments and to support Sustainable Development Goal 10 which aims at reducing inequality, digital banks would be better positioned than traditional channels to serve financially underserved segments such as gig economy workers or rural residents, who may lack of credit history to have the equal opportunities to receive loans or, to gain access to a wider variety of financial services,\u201d he added. ACSD also intends to leverage on AEON CO. , LTD. , Japan and its subsidiaries retail network in Malaysia to elevate the banking experience of target segments by offering a broader range of financial services and products of AEON Credit. As of today, AEON Credit and AEON in the retail sector have a total customer base of more than 5.3 million. Thus, the digital banking business to be established by ACSD aims to serve the underserved market segments leveraging on AEON Credit\u2019s vast experience, retail network and customer base at the beginning, to help customers take better control of their personal financial management and financial outcomes. AEON Credit also expects that ACSD would be able to develop a sustainable business model and achieve profitability in operations before the end of the foundational phase. Earlier on June 30, 2021, Aeon Credit and AFS had submitted a joint application to Bank Negara Malaysia (BNM) for a digital banking license. Subsequently, MoneyLion Inc. (MoneyLion) was included in the consortium and the joint application was revised for a digital Islamic banking license.  On April 29, 2022, the companies had received a letter from BNM on the approval by the Minister of Finance, Malaysia (MOF) of the grant of a digital Islamic banking licence to the consortium, comprising AEON Credit, AFS and MoneyLion. On September 30, 2022, the parties and MoneyLion reached an agreement to cease negotiations on MoneyLion\u2019s participation in the proposed joint venture. Consequently, the parties as the remaining joint venture partners continued with the implementation of the operational readiness plan to establish the digital Islamic bank. AEON Credit and its subsidiary are principally involved in the provision of easy payment schemes, personal financing schemes, issuance of payment cards under the international brand names of Visa and MasterCard and insurance broking business. Its personal financing schemes and certain easy payment schemes are based on Islamic principles. AFS is principally involved in the activities of credit card issuance, banking, leasing, life insurance, distribution of insurance products and other financial services, with operations in Japan and several other countries in Asia.  GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2023/07/17/malaysias-ni-hsin-partners-universiti-teknikal-mara-to-promote-ev-motorcycles/", "page": 25, "title": "Malaysia\u2019s Ni Hsin partners UNIVERSITI TEKNIKAL MARA to promote EV motorcycles", "contents": "Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH)Ni Hsin said in a statement on Monday that under the LOI, UniKL and NH EV TECH agree to exercise their best efforts to explore various potentials within any field related to the electric motorcycle industry that are beneficial to the parties. The collaboration shall cover the areas of education, research and development (R&D), project management, social and culture and aims to establish the Industrialmanship program in UniKL for the purposes of industrial exposure such as technical workshops or seminars, industrial training placement and employability program to UniKL students where NH EV TECH has the technical expertise and entrepreneurship program. The rationale of the LOI is for NH EV TECH to leverage on the technical expertise and facilities of UniKL in the educational environment and large pool of students to facilitate advancements in the EV industry and to promote their entrepreneurship program whilst propagating climate change awareness in our pursuit of the group\u2019s  environmental, social, and corporate governance (ESG) agenda. NH EV TECH Managing Director Khoo Chee Kong said they see a synergistic collaboration in the areas of education, R&D, project management, social and culture. \u201cTogether we hope to achieve meaningful advancements to the technical and functional features of the electric motorcycles,\u201d he said. According to him, this strategic collaboration enables both parties to conduct R&D and provide technical training and industrial exposure to UniKL students thus equipping them with adequate skills to match current job requirements. \u201cThis is in line with Kementerian Kemajuan Desa dan Wilayah\u2019s aspiration to raise the minimum wage of students who have completed the Technical and Vocational Education Training (TVET) from MYR 1,500 ($330) to MYR 2,000 ($439),\u201cAdditionally, we have crafted entrepreneurship programs for these students who aspire to start a self-sufficient small entrepreneurship,\u201d he added. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of electric vehicles (EV) and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Malaysia\u2019s Ni Hsin inks deal with Boustead Technology for EV motorcycles distribution"}, {"url": "https://technode.global/2023/07/15/malaysias-capbay-achieves-profitability-last-year-celebrates-220m-milestone-in-p2p-financing/", "page": 25, "title": "Malaysia\u2019s CapBay achieves profitability last year, celebrates $220M milestone in P2P financing", "contents": "CapBay\u201cWe are profitable since last year. So this year, despite moving to Singapore and Thailand, we managed to maintain our profitability,\u201d CapBay Co-Founder and Chief Business Development Officer Darrel Ang told During the event, CapBay announced it has achieved a significant milestone by providing over MYR1 billion ($220.91 million) in funding to more than 400 underserved small and medium enterprises (SMEs) in Malaysia. This is the result of successful financing through 7,600 investment notes, underscoring CapBay\u2019s commitment to empowering SMEs and offering attractive investment opportunities for potential investors, the company said in a statement. As a supply chain financing (SCF) specialist, CapBay offers tailored financing solutions to SMEs in various industries. Through its so-called proprietary credit-decisioning model, businesses of all sizes can obtain financing, while banks and investors can participate in high-quality financing deals. The company said it has partnered several large corporates, banks, and institutional investors to offer its solution. Regulated by Securities Commission Malaysia (SC), the CapBay Group, which includes its multi-bank SCF platform and Islamic factoring house, has provided over MYR2.5 billion in financing, helping over 1,600 businesses through its alternative financing solutions. \u201cOur remarkable growth in recent years has positioned CapBay P2P as a leader in the Malaysian P2P space. Together with our talented team and unwavering investor support, we will continue pushing boundaries, unlocking new opportunities, and scaling greater heights,\u201d CapBay\u2019s Co-founder and CEO Ang Xing Xian said in the statement. Recognizing the significance of alternative financing in the Malaysian economy, the government has allocated MYR40 million to the Malaysia Co-Investment Fund (MyCIF) as part of Budget 2023. CapBay said it was one of the key P2P platforms that helped to drive the MyCIF program which has collectively co-invested over MYR540 million, benefiting at least 3,500 MSMEs. As demand for alternative financing options increases and government initiatives drive industry growth, CapBay said it is poised to unlock more potential within the region. To fulfil its vision of becoming a technology enabler within Southeast Asia, CapBay aims to bridge the financing gap for underserved SMEs and expand its operations across Southeast Asia, having set up offices in Singapore and Thailand this year. Additionally, CapBay is actively pursuing joint ventures, mergers, and acquisitions with key players across the value chain to establish itself as a dominant omni-channel platform offering synergistic regional supply chain financing, holistic financial services, and data and technology solutions, the company added. Since 2017, CapBay has financed more than 22,000 transactions worth over MYR2.5 billion, serving over 1,600 SMEs. According to data platform Besides Xing Xian and Darrel, Capbay\u2019s two other co-founders include Edwin Tan and Dion Tan, who is also the group managing director of Malaysia-listed property developer Tropicana Corporation Bhd. Capbay (Bay Group Holdings Sdn Bhd) saw its revenue jumped to MYR17.34 million in 2021, from MYR3.19 million in 2020. Loss after tax for 2021 narrowed to MYR3.01 million from a loss after tax of MYR4.65 million in 2021, data from Companies Commission of Malaysia (SSM) showed. Revenue in 2019 stood at MYR1.62 million, while its loss after tax was  MYR1.29 million. Key financial information for 2022 is not available on SSM\u2019s website yet. Malaysian fintech firm CapBay secures $7.1M from Kenanga Investment Bank"}, {"url": "https://technode.global/2023/07/14/malaysia-pm-anwar-ibrahim-discusses-starlink-satellite-service-with-elon-musk/", "page": 25, "title": "Malaysia PM Anwar Ibrahim discusses Starlink satellite service with Elon Musk", "contents": "Malaysia Prime Minister Anwar Ibrahim has met billionaire entrepreneur Elon Musk and discussed about the participation of \u201cWe also discussed the participation of SpaceX in the Starlink satellite service, which can contribute to faster and broader internet access, especially in remote areas that require minimal physical infrastructure and land to improve global internet connectivity,\u201d Anwar said in a statement on Friday, after a virtual meeting with Musk, Founder and Chief Executive Officer (CEO) of SpaceX. This initiative will enhance the capabilities and well-being of the people, particularly in terms of education, agricultural technology potential, and income generation, he said. Founded in 2002 by Musk, SpaceX is a spacecraft engineering company which designs, manufactures and launches advanced rockets and spacecraft in a bid to \u201crevolutionize\u201d space technology. Starlink, a satellite internet constellation operated by SpaceX, provides high-speed, low-latency broadband internet across the globe. Within each coverage area, orders are fulfilled on a first-come, first-served basis. With Starlink, users can engage in activities that historically have not been possible with satellite internet, information from SpaceX\u2019s website showed. Starlink\u2019s high-speed, low-latency service is made possible via the world\u2019s largest constellation of highly advanced satellites operating in a low orbit around the Earth, the company claimed. Malaysia government has aimed to improve internet access in the country. Communications and Digital Minister Fahmi Fadzil said in March the issue of internet access in Malaysia, especially in rural areas, will be resolved by June this year. He then said the Ministry of Communications and Digital, through the Malaysian Communications and Multimedia Commission, will hold discussions with telecommunications companies to identify and find appropriate solutions. Meanhwile, Anwar also said he welcomes the interest and investment decisions of Tesla in Malaysia, as well as Musk\u2019s willingness to come to Malaysia. \u201cI also congratulate and appreciate the government\u2019s support for the opening of the headquarters, service center, and Tesla Experience Center owned by Elon in Selangor this year,\u201d he added. Musk is also the CEO of electric vehicle maker Tesla Inc and the owner of Twitter. Tesla will be launching in Malaysia on July 20, 2023, according to earlier reports. Malaysia will continue to strengthen its commitment to achieving net-zero emissions as early as 2050. Malaysia has comprehensive plans and ecosystems, as well as competitive resources, to support the clean energy industry, including electric mobility, Anwar said. Elon Musk announces new AI company, xAI"}, {"url": "https://technode.global/2023/07/13/singapores-antler-partners-khazanah-to-launch-and-invest-in-malaysia/", "page": 25, "title": "Singapore\u2019s Antler partners Khazanah to launch and invest in Malaysia", "contents": "Singapore-based venture capital firmBoth parties said in a statement on Thursday that Antler is aiming to invest in over 30 startups across Malaysia over the next three years. It said that the partnership is to further establish Antler presence across six continents, which already includes Southeast Asia\u2014 with existing footholds in Singapore, Indonesia, and Vietnam. It also said the strategic alliance serves to unearth and nurture Malaysia\u2019s entrepreneurial talents and provide them access to Antler\u2019s global platform and network, enabling them to establish themselves as the defining companies of tomorrow. By drawing upon Antler\u2019s global network of investors, founders, and advisors, it said this partnership will infuse new opportunities into the Malaysian entrepreneurial scene, and subsequently accelerate the growth trajectory of Malaysian entrepreneurs and startups, propelling them towards international expansion and success. The partnership with Antler is the latest addition to Khazanah\u2019s Future Malaysia Program, an initiative under its Dana Impak (Impact Fund) mandate, which aims to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital, and corporate venture programs through collaborations with domestic and international partners. Dana Impak is an MYR 6 billion ($1.3 billion) commitment over five years and is a key pillar under Khazanah\u2019s Advancing Malaysia strategy. \u201cThe strategic collaboration with Antler marks a new chapter in Malaysia\u2019s entrepreneurial landscape, underscoring Khazanah\u2019s unwavering commitment to introducing innovative and impactful solutions,\u201d said Amirul Feisal Wan Zahir, Managing Director of Khazanah. According to him, this is another step forward for Khazanah Future Malaysia Program, which aims to scale Malaysian ideas and businesses to be globally competitive. \u201cGoing forward, we will continue to identify potential partners with proven track records, expertise, and strategic value proposition to join us in nurturing and empowering the next generation of Malaysian entrepreneurs through this programme, offering comprehensive support throughout the entire funding lifecycle, spanning from the pre-seed stage right up to the growth stage,\u201d he added. Antler is one of the most active early-stage investors globally and has invested in over 792 companies across 26 cities worldwide, amassing a cumulative portfolio value of $3.7 billion. The firm has a goal to back more than 6,000 by 2030. Specializing in \u2018Day Zero investing\u2019, the firm takes a distinctive approach to fostering startup success, setting it apart from other entrepreneurial programs. The firm is committed to supporting founders throughout their journey, starting from the pre-seed stage and extending all the way to Series A and beyond. This includes support in co-founder matching, deep business model validation, provision of initial capital, expansion assistance, and securing follow-on funding. With Antler\u2019s comprehensive investment approach, startups are backed from their very earliest days through significant growth phases. \u201cWe are on a mission to fundamentally improve the world by backing and investing in the world\u2019s most exceptional people from Day Zero to greatness,\u201d said Jussi Salovaara, Co-Founder and Managing Partner Asia, Antler. According to him, founders scale their companies faster with Antler, where they can build remarkable teams, join a global community of founders, and access capital to accelerate growth. \u201cWe are especially thrilled about partnering with Khazanah to unlock this opportunity for entrepreneurs in Malaysia,\u201cFrom its new Kuala Lumpur office, Antler is aiming to invest in over 30 startups across Malaysia over the next three years, with the inaugural Venture Generation Program set to begin in October 2023 and applications are currently open,\u201d he added. Antler currently has offices globally across most major entrepreneurial hubs in 26 cities, including Malaysia, Singapore, Jakarta, Ho Chi Minh, Austin, New York, London, Berlin, Stockholm, Bangalore, Seoul, Tokyo, and Sydney. Antler closes $285M emerging growth fund to back industry leaders"}, {"url": "https://technode.global/2023/07/12/via-curlec/", "page": 25, "title": "India\u2019s Razorpay launches payment gateway in Malaysia via Curlec", "contents": "Indian fintech unicorn Curlec said in a statement on Wednesday that the Curlec Payment Gateway will serve more than 5,000 businesses with a target of MYR 10 billion ($2.15 billion) in annualized gross transaction value (GTV) by 2025. The growth is driven by Malaysia\u2019s fast-growing digital economy which is projected to be worth $35 billion in gross merchandising value by 2025, high mobile-phone penetration rate, and strong government support for the digital economy. It said that Malaysia\u2019s real-time payments system, also known as DuitNow, is another key catalyst for merchant acceptance of cashless payments and has significantly aided the emergence of mobile transactions. Given the fast-growing economies of Malaysia and the broader Southeast Asia region, the scope and need for more robust, reliable, and advanced payment solutions is undeniable, said Curlec. In leveraging Razorpay India\u2019s industry-first solutions and its extensive experience working with multiple sectors, Curlec said it intends to incorporate the same innovative technologies that proved successful in the Indian market. \u201cWe see great potential in the Southeast Asian market and are delighted to announce the launch of our first international payment gateway in Malaysia,\u201d said Shashank Kumar, Managing Director and Co-Founder of Razorpay. He said the firm recognizes the power of payments in Malaysia and what it means for businesses of all sizes, regardless of sector. The firm\u2019s extensive experience operating in India\u2019s diverse and dynamic market has also prepared them to pursue growth on a global scale, he said. \u201cWhen we joined forces with Curlec a year ago, our vision was to build products that cater to the needs of Southeast Asian users, \u201cThe unveiling of the new Curlec Payment Gateway today is a first step in that direction,\u201d he said. He also believes the new payment gateway will revolutionize how Malaysian businesses and end-consumers transact and engage with each other. \u201cGoing forward, I believe that collaboration, innovation, and customer-centricity will be the three keys to unlocking the potential of digital payments and driving economic growth in Malaysia,\u201d he added. Zac Liew, Co-Founder and Chief Executive Officer of Curlec by Razorpay, said with the launch of the Curlec Payment Gateway, the firm is now a full-stack payment solutions provider, having combined the expertise of both Curlec and Razorpay India. \u201cWe hope to build on our recent significant traction, notably in insurance, lending, and savings, where we tracked a 110 percent increase in transaction volumes,\u201cWith Curlec providing an unrivalled payment experience for our customers, we are targeting 10 times growth by 2025,\u201d he said. Driven by the goal of simplifying payments for Malaysian startups and enterprises, he said Curlec will continue to build a stronger focus on customer needs, and the new payment gateway that will help Malaysian businesses scale seamlessly with industry-first solutions and uncompromised support. After being acquired by Razorpay, Curlec has transitioned from a dedicated recurring payments solution to a full stack payment gateway for businesses of all sizes. Curlec by Razorpay combines India\u2019s tech capabilities with a deep local understanding of the Malaysian payments ecosystem. It aims to provide businesses with a payment gateway that accepts payments, automates payouts and helps them focus on their customers. By harnessing the Razorpay technology that powers 10 million businesses in India, the all-new Curlec Payment Gateway aims to offer an uncompromised payment experience to Malaysian merchants. Curlec by Razorpay is currently used by over 700 businesses ranging from small and medium-sized enterprises (SMEs) to enterprises, and has improved payments for some of Malaysia\u2019s brands including Tune Protect, CTOS, Courts, Mary Kay and The National Kidney Foundation. Indian payment platform Razorpay buys majority stake in Malaysian fintech firm Curlec"}, {"url": "https://technode.global/2023/07/12/khazanah-backed-insurtech-firm-policystreet-aims-to-serve-underserved-underinsured-communities-including-gig-workers/", "page": 25, "title": "Khazanah-backed insurtech firm PolicyStreet aims to serve underserved & underinsured communities including gig workers [Q&A]", "contents": "Malaysia homegrown insurtech startup Under its so-called Dana Impak mandate, Khazanah led the Series B fundraising round of PolicyStreet, raising a total of $15.3 million. Other local and international investors include Altara Ventures, Gobi Partners and Spiral Ventures. Founded in late 2016, PolicyStreet has grown into a regional full-stack insurtech group of companies providing digital insurance solutions to businesses and consumers in Southeast Asia and Australia. PolicyStreet works directly with over 40 life, general, and takaful(Islamic insurance) providers globally to offer a comprehensive range of products and services, which includes but is not limited to embedded insurance, customized employee benefits, financial advisory and aggregation of insurance, as well as the development of digital solutions to make insurance purposeful and simple for businesses and consumers. As a licensed Reinsurer and General Insurer by the Labuan Financial Services Authority (LFSA), an approved Financial Adviser and Islamic Financial Adviser by Malaysia central bank Bank Negara Malaysia, and a licensee of the Australian Financial Services License by the Australian Securities and Investments Commission (ASIC), PolicyStreet is able to underwrite, customize policies, and provide unbiased advice to its clients and partners worldwide. PolicyStreet serves over 5 million customers with over $6 billion in sum insured, according to its website. \u200bBelow are the edited excerpts:We\u2019re honored to have completed an oversubscribed Series B funding round. Having received $15.3 million in funding, we aim to utilize it to:PolicyStreet remains committed to making insurance more accessible for businesses and consumers in the region. Currently, PolicyStreet is present in three markets: Malaysia, Singapore, and Australia. We are not opposed to further expanding regionally but will currently focus on improving our market position in the aforementioned markets we have a presence in. PolicyStreet offers a wide variety of insurance offerings to cater to different segments. Our focus extends beyond traditional insurance products and includes innovative solutions that meet the evolving needs of consumers and businesses. PolicyStreet uses a variety of approaches to address the protection gap, including business-to-business (B2B), business-to-business-to-consumer (B2B2C), and direct-to-consumer (D2C) strategies. Through these approaches, we leverage our underwriting and tech capabilities to create a comprehensive ecosystem of insurance solutions to serve the underservedOur focus on the digital and gig economy is an example of our insurance solutions ecosystem. Our notable innovative insurance solutions include the Digital HR Portal and employee benefits, the gig workers\u2019 insurance and Gig Worker\u2019s Claims Platform, and the Damage Protection Plan and claims platform. The three solutions provide protection for businesses which contribute to digital and gig economies, gig workers fulfilling the last-mile delivery demand, and consumers fuelling the two economies, respectively. The ecosystem contributes to narrowing the protection gap while ensuring sustainable, long-term growth for the nation. In the insurance industry, both in Malaysia and Southeast Asia, there are significant opportunities driven by technological advancements and ever-changing consumer behavior. The industry has experienced disruption to varying degrees, with the potential for further innovation in the future. Opportunities in the insurance industry arise from several key factors. Firstly, the growing digital landscape presents opportunities for insurers to leverage technology to enhance customer experiences, streamline operations, and develop innovative products. Secondly, changing demographics and consumer behaviors provide opportunities to cater to new segments and address emerging needs. This includes catering to the digital-savvy younger generation, addressing the gig economy\u2019s insurance requirements, and tapping into underserved markets. Additionally, the rise of data analytics also enables insurers and insurtech companies to better understand customer preferences, personalize offerings, and improve risk assessment and underwriting processes. While the insurance industry has witnessed significant disruption, it is still in the early stages of transformation. Insurtech startups and innovative incumbents have introduced new business models, distribution channels, and products. However, the industry as a whole is adapting at varying speeds, and traditional insurers are also embracing digital transformation to stay competitive. Overall, insurance penetration in Asean hovers around 4 percent of GDP, still lagging behind the global average of 7 percent. The insurance industry in Malaysia and Southeast Asia presents ample opportunities for those who can navigate the evolving landscape and leverage technology to provide customer-centric solutions. The potential for further transformation remains significant as the industry continues to evolve. PolicyStreet and other insurtech companies face several challenges in pursuing growth and innovation in the insurance industry. Among the key challenges includes building customer trust as a new brand. Considering insurtech is a relatively new industry, businesses and consumers alike tend to err on the side of caution and be skeptical or hesitant to embrace new insurance products and digital platforms. Nevertheless, our persistence and operational excellence helped establish our credibility in the region, especially among leading industry brands. Overcoming challenges as an insurtech company necessitates strategic planning, regulatory adherence, effective customer communication, technological innovation, and strong financial support. By addressing these obstacles, we have positioned ourselves for growth and contribute to the ongoing transformation of the insurance industry. PolicyStreet is committed to contributing to increased insurance penetration in Malaysia by focusing on developing customer-centric insurance solutions and leveraging our technology development capabilities. In efforts to make insurance accessible, we are addressing the roadblocks that underserved communities face and resolving them. Roadblocks that limit accessibility to insurance are not limited to affordability but also other factors such as convenience, relevance, and variety of insurance solutions available on the market. Tapping into our underwriting and technology capabilities, we\u2019re working to improve accessibility by creating insurance that addresses specific needs, preferences, and affordability levels, focusing on underserved segments. Furthermore, we supplement our insurance solutions with digital platforms that streamline the entire process. We are also working to expand our partner network, enabling us to build more comprehensive ecosystems that integrate insurance into daily aspects of life and reach a larger customer base. Through these initiatives, we aim to move the needle in advancing insurance in Malaysia and achieve the targets set by Bank Negara Malaysia. Insurtech companies such as PolicyStreet differ vastly from insurers who have digitalized their business and do not directly compete with them. PolicyStreet is looking to tap into underserved market segments. Instead of developing products that can benefit the most number of people, we are focused on developing solutions that can best serve the underserved and underinsured communities. In addition to underwriting and developing insurance solutions, PolicyStreet is also partnering with relevant stakeholders to embed protection into the lives of the underserved, providing protection without the financial burden or additional effort. Each insurtech company in the region has its competitive edge and has carved its market niches accordingly. For PolicyStreet, our competitive edge lies in our capabilities to build strong partnership networks where we practice customer-first problem-solving. By offering effective and efficient solutions to existing problems, we are committed to deepening and expanding our partnerships, benefitting more members of underserved communities. An example of our efforts would be our partnership with foodpanda Malaysia and ShopeeFood Malaysia, where we are insuring the two p-hailing service providers\u2019 entire fleet of delivery partners. Gig workers working as delivery partners for the two industry giants are insured on the job as a default without any additional cost to them. The protection is also complemented by the Gig Workers\u2019 Claims Platform, where the gig workers working for different service providers can manage their insurance claims all in one consolidated insurance platform. In the case of insuring the delivery partners, we are serving the underserved specifically while also leveraging our partnerships to advance insurance and narrow the protection gap. Utilizing a similar modus operandi, we are modeling our ecosystems to complement existing insurance solutions and foster financial inclusion in the region. Khazanah leads PolicyStreet\u2019s $15.3 million Series B fundraising round"}, {"url": "https://technode.global/2023/07/10/carsome-appoints-former-pwc-singapore-chairman-as-first-independent-director/", "page": 25, "title": "Carsome appoints former PwC Singapore chairman as first independent director", "contents": "Southeast Asia\u2019s largest integrated car eCommerce platform Yeoh commenced as Chairman of the group\u2019s Audit Committee as of the same date, Carsome said in a statement. According to the statement, Yeoh brings to the table a wealth of experience and knowledge in corporate governance, risk management, organizational strategy, people and culture, and digital transformation. His guidance will be pivotal as Carsome grows into the next phase of maturity and builds an effective and independent board. Driven by its mission to deliver excellent customer experience within the used car industry, Carsome said it is working towards establishing the world\u2019s first integrated car ownership ecosystem in Southeast Asia, whilst embracing long-term sustainability through operational excellence. In addition to being a Board Member at Singapore Exchange Limited, Yeoh serves as the Chairman of the Singapore Land Authority, and Vice Chairman and Audit Committee Chair at the Singapore Business Federation. He is also a member of the Corporate Governance Advisory Committee of the Monetary Authority of Singapore. Beyond these corporate engagements, Yeoh serves the non-profit sector as Director and Audit Committee Chairman of the Kidney Dialysis Foundation and Independent Governor for the Lien Foundation. Yeoh was the Executive Chairman of PricewaterhouseCoopers LLP (PwC) Singapore before his retirement in June 2021. As part of an illustrious 38-year career with PwC, he served within the firm\u2019s leadership team for more than 15 years, chairing several regional joint ventures such as PwC SEA Consulting and PwC SEA Corporate Finance. In addition, he was a member of the PwC Strategy Council, which sits leaders from the largest 21 firms in the PwC global network. \u201cCarsome is extremely fortunate to welcome Yeoh into our fold, as we strive to go beyond buying and selling used cars to further elevate the customer experience in the automotive industry,\u201d said Carsome Co-Founder and Chief Executive Officer Eric Cheng. \u201cHis exceptional acumen in finance, digital transformation, and business strategy, combined with his position as a corporate governance stalwart, bodes well for our next chapter to establish world-class governance, operational and ecosystem excellence, \u201cWe are inspired by his proficiency in navigating regional business dynamics, which will be valuable in our expansion and ongoing mission to revolutionize the automotive ownership landscape in Southeast Asia,\u201d he said. According to the statement, Yeoh is also a member of the Institute of Chartered Accountants in England and Wales as well as the Immediate Past President of CPA Australia, Singapore Chapter. He graduated with a First-Class Honors (Accounting) from the University of Birmingham, England. \u201cI am honored to join the distinguished Board of CARSOME. I strongly resonate with the company\u2019s visionary approach toward transforming the automotive industry in Southeast Asia, \u201cCARSOME is at a very exciting and critical stage of maturing its business model in an industry that holds great potential. I look forward to working collectively with the Board and the team to shape the future of mobility in some of Southeast Asia\u2019s rapidly developing markets,\u201d said Yeoh. In addition to its proficient board, Carsome said the firm also benefits from the guidance of an insightful Advisory Board, which promotes a deeper understanding of regional technology landscapes. It said its members bring unique specializations, perspectives, and experiences in building and scaling tech companies in Southeast Asia. The advisory board currently comprises four esteemed members: Nicholas Nash, Managing Partner and Co-founder of Asia Partners; Harish Bahl, Founder of Smile Group; Pandu Sjahrir, Managing Partner of Indies Capital; and Dan Neary, Vice President of Meta Asia Pacific. Carsome has been actively reshaping Southeast Asia\u2019s used car industry through its innovative data and tech-driven approaches, offering trust, transparency, and choice to elevate the automotive ownership experience. Operating in Malaysia, Indonesia, Thailand, and Singapore, the firm sold over 150,000 cars in 2022 and serves more than 15 million unique customers monthly across its diverse online and offline channels in the region. Carsome partners PolicyStreet to introduce personal accident coverage in Malaysia"}, {"url": "https://technode.global/2023/07/10/malaysias-gentari-partners-kpj-healthcare-to-offer-clean-energy-solutions/", "page": 26, "title": "Malaysia\u2019s Gentari partners KPJ Healthcare to offer clean energy solutions", "contents": "Gentari Sdn BhdGentari said in a statement on last Friday that both parties have signed a Memorandum of Understanding (MoU) to embark on a strategic collaboration that will drive decarbonization efforts in the healthcare sector and propel KPJ Healthcare towards sustainable growth. By joining forces with Gentari, KPJ Healthcare is set to integrate green mobility and renewable energy solutions into KPJ Healthcare\u2019s operations, positioning the group at the forefront of driving positive environmental impact through clean energy solutions. According to the statement, this partnership marks a significant milestone in KPJ Healthcare\u2019s commitment to sustainability and sets the stage for the widespread deployment of clean energy ecosystems across the group\u2019s extensive network of hospitals. One of the key areas of collaboration outlined in the MoU is the installation of electric vehicle (EV) charging facilities at ten KPJ Healthcare premises. These charging facilities will be made available to the public soon, on a pay-per-use basis, supporting Malaysia\u2019s growing EV infrastructure and encouraging EV adoption among staff, patients, and visitors. This collaboration also aligns with the ambitious targets set by the Malaysian government, aiming to establish 10,000 charging points by 2025 and have 1.3 million EVs on the road by 2040. By installing EV charging stations at KPJ Healthcare hospitals, this collaboration aims to contribute to these national targets, reduce carbon emissions, and promote sustainable transportation. In addition to providing better accessibility to EV charging facilities at KPJ Healthcare hospitals, the joint effort also aims to drive awareness, educate stakeholders, and influence policy frameworks to create an enabling environment and accelerate the transition towards sustainable operations and widespread EV adoption across the country. Beyond EV charging facilities, the collaboration will introduce zero emission vehicle fleet solutions tailored to the Malaysian market by exploring options which may include the adoption of EVs to reduce greenhouse gas emissions and promote sustainable transportation in the healthcare sector. In addition to green mobility, the collaboration also extends to exploring the deployment of renewable energy solutions within KPJ Healthcare\u2019s facilities. This may include the installation of solar and other clean energy technologies to harness renewable sources and generate electricity, thereby reducing the group\u2019s reliance on fossil fuels and decreasing its overall carbon footprint. The collaboration also anchors KPJ Healthcare\u2019s aspirations in redefining its healthcare ecosystem by embracing sustainable and eco-friendly practices. The integration of renewable energy solutions and green mobility not only reduces KPJ Healthcare\u2019s carbon footprint but also creates greater efficiency, better service delivery and, ultimately, a more positive patient experience. \u201cWith our network of 29 specialist hospitals, we are confident that by combining our expertise and resources, we are able to set new industry standards, establish best practices, and drive positive change in the healthcare sector,\u201d said Norhaizam Mohamed, Officer In Charge of KPJ Healthcare. According to her, the firm\u2019s existing sustainability program has laid a strong foundation, and they understand the need to accelerate their efforts. She also said this collaboration aligns perfectly with the firm\u2019s commitment to providing high-quality healthcare services while prioritizing environmental stewardship. Together with Gentari, she said they will work hand in hand to accelerate the transition towards sustainable operations and make a meaningful impact on global emissions. \u201cWe set out over 40 years ago to enhance the livelihood of the communities we operate in, and we believe this is one of the best ways to ensure our \u2018Care for Life\u2019 promise can be further expanded to include the environment as well, in order for us to deliver the very best of quality healthcare to our patients, \u201cIn a way, it is personal for us to continuously elevate our standards of treatment, especially with our personalized care and our future growth towards preventive care,\u201d she added. Through this strategic collaboration, KPJ Healthcare and Gentari opined that they are poised to lead the sustainability changes in the healthcare industry, and are confident to affect the much-needed changes in creating awareness as well enabling more positive impacts to the environment and society. \u201cAt Gentari, we recognize that the significant energy demands of the healthcare industry must be underpinned by sustainable practices. It is our privilege to collaborate with KPJ Healthcare to support their responsible approach to operations, \u201cWith the integration of clean energy solutions, we aim to assist KPJ Healthcare in reducing their carbon footprint and contribute towards achieving their sustainability goals,\u201d said Shah Yang Razalli, Deputy Chief Executive Officer of Gentari. Malaysia\u2019s Gentari partners Singapore\u2019s Keppel, Semcorp for clean energy solutions in SEA"}, {"url": "https://technode.global/2023/07/10/malaysia-ni-hsin-inks-deal-with-boustead-technology-for-ev-motorcycles-distribution/", "page": 26, "title": "Malaysia\u2019s Ni Hsin inks deal with Boustead Technology for EV motorcycles distribution", "contents": "Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH)Ni Hsin said in a statement that under the corporate agent agreement, BOUSTECH will act as the Exclusive Corporate Agent to promote, market, sell and distribute NH EV TECH\u2019s EBIXON EV Motorcycles exclusively within Boustead Group\u2019s internal workforce.   The CAA will be valid for a term of three years, and may be extended for a further term of one year upon the terms and conditions mutually agreed by the parties. The rationale of the CAA is for NH EV TECH to leverage on Boustead Group to promote and market the products. NH EV TECH Managing Director Khoo Chee Kong said both parties see the partnership as a synergistic collaboration. He noted that BOUSTECH is a second growth engine driver within the Boustead Group aiming to transform and reinvent existing business landscape through impactful technology adoption towards environmental, social and governance (ESG) agenda focusing carbon management, blockchain and internet of things (IOT). BOUSTECH Chief Executive Officer Ir Azril said that in line with the \u201cReinventing Boustead\u201d initiative, this will take the forefront in promoting sustainable living and encouraging staff together in reducing carbon footprint across the group through the utilization of electric vehicles.  \u201cThis strategic collaboration marks a significant step towards enhancing the visibility and accessibility of EBIXON EV Motorcycles, as BOUSTECH and NH EV TECH combine their expertise to create a compelling and sustainable transportation solution and also helps propel the group\u2019s ESG agenda while creating a green revenue stream in carbon trading, in which emissions are treated as either carbon credits or offsets that can be sold in a carbon market such as Bursa Securities Malaysia Berhad\u2019s voluntary carbon market,\u201d he added. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of electric vehicles (EV) and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model.  Ni Hsin inks deal with Koperasi Tenaga Dan Petroleum to promote EV motorcycles"}, {"url": "https://technode.global/2023/07/07/malaysias-gentari-partners-singapores-keppel-semcorp-for-clean-energy-solutions-in-sea/", "page": 26, "title": "Malaysia\u2019s Gentari partners Singapore\u2019s Keppel, Semcorp for clean energy solutions in SEA", "contents": "Malaysian clean energy solutions provider Gentari said in a statement on Thursday that the firm has signed a Memorandum of Understanding (MoU) with Keppel\u2019s infrastructure division to jointly explore the development of specific sustainability-related opportunities. Through the MoU, the parties are looking to unlock synergies in renewable and low-carbon energy projects as well as electric vehicle (EV) charging infrastructure and roaming to build economies of scale, facilitate mutual support in market access and enable mutual capability development. In addition, the parties will explore potential collaboration in energy-as-a-service opportunities, including energy efficiency and energy management projects. Gentari Chief Executive Officer Sushil Purohit said the MOU represents a significant step in growing the application of sustainable energy solutions across Southeast Asia. \u201cBy leveraging our combined capabilities in areas such as renewable energy, electric vehicle charging infrastructure and sustainable energy applications, we aim to deliver innovative solutions that support the region\u2019s net zero ambitions, \u201cTogether, we are committed to reshaping the energy landscape and creating a greener future for Southeast Asia,\u201d  he said. Keppel\u2019s infrastructure division Chief Executive Officer Cindy Lim said that the collaborate with Gentari on a targeted slate of initiatives will help to address immediate urban and climatic challenges in Southeast Asia. \u201cThe MoU is a testament to Gentari and Keppel\u2019s shared commitment towards helping the region get closer to net zero, \u201cThrough collaborating on sustainable infrastructure projects and energy-as-a-service with Gentari, we aim to leverage each other\u2019s strengths to improve urban environments and enhance access to e-mobility,\u201d she said. Earlier on Wednesday, Gentari also announced that the firm has signed a MoU with Sembcorp to jointly explore potential collaborations and related business activities in the field of clean energy solutions. Under the MoU, Gentari and Sembcorp will jointly explore potential areas of collaboration in clean energy solutions, including renewable energy and low-carbon hydrogen. Both parties are eyeing trading of renewable energy from Southeast Asia or other mutually agreed locations, with the aim to accelerate the adoption of clean energy sources. They also aim for the supply of low-carbon hydrogen, including the development of hydrogen production facilities and joint studies on the transportation of hydrogen from Malaysia to Singapore. The collaboration aims to leverage the joint expertise of both parties and their resources to drive innovation and create sustainable solutions in the hydrogen sector. \u201cThrough this strategic partnership with Sembcorp, Gentari aims to further accelerate the expansion of renewable energy and hydrogen-related initiatives,\u201cThis MoU signifies the shared vision and commitment of our two organisations to drive the energy transition in Southeast Asia, contributing to a more sustainable and low carbon future for the region,\u201d said Low Kian Min, Chief Renewables Officer of Gentari. Sembcorp (Singapore & Southeast Asia) chief executive officer Koh Chiap Khiong also said the collaboration underscores the strong potential of Malaysia\u2019s fast-growing renewables sector. \u201cAs a leading renewables player in the region, we look forward to working with like-minded partners like Gentari to progress initiatives that will accelerate the shift towards a sustainable energy transition,\u201d he said. Malaysia\u2019s Gentari partners JomCharge, chargEV for EV charging points roaming network"}, {"url": "https://technode.global/2023/07/07/catcha-digital-sets-up-new-unit-to-develop-technology-solutions-and-software-for-malaysias-public-sector/", "page": 26, "title": "Catcha Digital sets up new unit to develop technology solutions and software for Malaysia\u2019s public sector", "contents": "Malaysia-based Catcha Digital said in a statement said i-Gov unit is established to contribute to the Malaysian government\u2019s effort in digital transformation and GovTech.  On May 15\uff0c 2023, Malaysian Prime Minister Anwar Ibrahim announced the establishment of the Centre for the Fourth Industrial Revolution Malaysia (Malaysia Centre for 4IR), an independent centre within the World Economic Forum (WEF) global ecosystem focusing on two priorities \u2013 digital transformation and GovTech, and energy transition. Catcha Group Pte Ltd, the major shareholder of Catcha Digital, has long maintained a meaningful dialogue with the Malaysian Government on matters related to the digital economy and government digitization, the technology ecosystem and opportunities for improving the government\u2019s digital initiatives. \u201cWe see tremendous opportunities to work with the Malaysian government to unify and improve digital services for the nation and its people, in accordance with The Malaysia Digital Economy Blueprint and Policy for the Fourth Industrial Revolution,\u201d said Patrick Grove, Chairman of Catcha Digital. \u201cWe have spent considerable time in dialogue with various parts of the Government brainstorming ways to bring Malaysia\u2019s digital services to a world class level,\u201cInternationally, significant progress has been made in enhancing efficiency and convenience for countries through the introduction of world class software solutions and digital access to government services,\u201d he said. With the launch of i-Gov, he saidm the firm aims to accelerate Malaysia\u2019s transformation towards a digital economy. According to the statement, i-Gov will look to acquire existing software providers to the Malaysian Government and enhance their capabilities and services, as well as engaging directly with the Malaysian Government on new initiatives and projects designed to advance the government\u2019s technology agenda. I-Gov will also forms a board of advisors to guide its efforts in the government space in the near future. Catcha Digital is a Malaysia-based investment holding company focused on operating businesses in the digital media, advertising and software industries. As a final step in its regularisation plan, Catcha Digital in last month launched an abridged prospectus in relation to a renounceable rights issue involving the issuance of up to 174.64 million new ordinary shares in Catcha Digital on the basis of one rights share for every one existing Catcha Digital share held by the entitled shareholders at an issue price for each rights share fixed at MYR 0.235 ($0.05), to raise up to MYR 41.04 million ($8.79 million). Catch Group has already committed MYR 18 million ($3.85 million) to the rights issue.  Upon completion of the regularisation plan, Catcha Digital will have its GN2 status lifted.  Meanwhile, the group\u2019s wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast moving consumer goods, retail, property, entertainment and other industries in Malaysia. IMedia recorded a Profit Before Tax (PBT) of MYR 10.28 million ($2.2 million) in FY2022, representing year-on-year growth of approximately 69 percent. In the first quarter ended 31 March 2023, iMedia PBT grew by approximately 28 percent compared to the same period last year to reach MYR 3.89 million ($830,000). IMedia reaches over 13.1 million Malaysians each month as of 31 May 2023 via its extensive portfolio of digital marketing platforms and services over 100 brands across multiple industries.  Catcha Digital completes acquisition of iMedia"}, {"url": "https://technode.global/2023/07/07/malaysias-carsome-partners-policystreet-to-introduce-personal-accident-coverage/", "page": 26, "title": "Carsome partners PolicyStreet to introduce personal accident coverage in Malaysia", "contents": "CARSOME, Southeast Asia\u2019s largest integrated car e-commerce platform,The complimentary coverage is valid for a year and is embedded into every purchase of a Carsome Certified car, available to Malaysians who apply for car loans from Carsome Capital without any additional cost, PolicyStreet said in a statement on Thursday. Understanding that approximately 90 percent of the Malaysian population, or about 30 million Malaysians are underinsured PolicyStreet said the protection also includes personal accident coverage of up to MYR 10,000 ($2142) in the event of accidental death or permanent disablement. According to the statement, Malaysians can cruise confidently as the loan protection add-on in Carsome Care+ covers car loan payments of up to MYR 1,000 ($214) per month for a maximum of six months. With a projected 60,000 jobs at risk in 2023, PolicyStreet said the protection ensures those who may be affected by layoffs and workplace downsizing are not financially burdened by their car loans. The Carsome Care+ coverage also includes weekly hospitalization benefits, smart key protection in the event of theft or accidental damage, theft of personal belongings kept inside the car, and travel allowance for the transportation of the policyholder\u2019s children to school and tuition classes. \u201cWhile car insurance is mandatory for road-legal vehicles, there are no regulations to ensure that the drivers themselves are protected while on the road,\u201cRegardless of the circumstance, we believe that insurance is a peace of mind that every Malaysian should be able to enjoy,\u201d said Yen Ming Lee , Co-Founder and Chief Executive Officer of PolicyStreet. Through the partnership with Carsome, he said PolicyStreet hopes to narrow the protection gap and protect underinsured Malaysian drivers. \u201cBy embedding the Carsome Care+ protection into the car purchasing journey, we can offer drivers purposeful insurance coverage without the added financial burden,\u201d he added. As Southeast Asia\u2019s largest integrated car e-commerce platform, Carsome is also committed to creating value for its customers by providing comprehensive protection when a customer takes home a Carsome Certified car. Carsome Co-Founder and Group Chief Executive Officer Eric Cheng said, at Carsome, the firm believes that owning a car is more than just a means of transportation, and it is a significant investment and a part of its customers lives. According to him, this insurance policy goes beyond the usual after-sales services. \u201cWe understand the worries and uncertainties that come with car ownership, and that\u2019s precisely why we\u2019ve partnered with PolicyStreet to provide this added layer of protection,\u201d he said. He also said Carsome Care+, combined with its existing quality guarantee through Carsome Certified, ensures that consumers can enjoy a worry-free and hassle-free car buying experience. \u201cIt begins from the moment you make your purchase to long after you\u2019ve hit the road, so customers benefit from end-to-end support throughout your entire car ownership journey,\u201d he added. PolicyStreet is a full-stackinsurtech group of companies providing  digital insurance solutions to businesses and consumers in Southeast Asia and Australia. The firm works directly with over 40 life, general, and takaful providers globally to offer a comprehensive range of products and services, which includes but is not limited to embedded insurance, customized employee benefits, financial advisory and aggregation of insurance, as well as the development of digital solutions to make insurance purposeful and simple for businesses and consumers. PolicyStreet is backed by the Malaysian sovereign wealth fund Khazanah Nasional Berhad, and serves over 5 million customers with over $6 billion in sum insured. Carsome is Southeast Asia\u2019s integrated car e-commerce platform, with operations across Malaysia, Indonesia, Thailand and Singapore. The firm aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with subsidiary brands iCar Asia, WapCar and CarTimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from carCarsome currently has more than 4,000 employees across all its offices in Asia. It has sold over 150,000 cars annually and serving more than 15 million unique customers monthly across its diverse online and offline channels in the region. Carsome completes latest financing round, bringing liquidity position to $200M"}, {"url": "https://technode.global/2023/07/07/malaysia-pm-anwar-to-meet-elon-musk-to-discuss-investment-report/", "page": 26, "title": "Malaysia PM Anwar to meet Elon Musk to discuss investment \u2013 report", "contents": "Malaysia\u2019s Prime Minister Anwar Ibrahim on Friday said he will be meeting Elon Musk, CEO of Tesla and owner of Twitter, to discuss the billionaire\u2019s investment in the Southeast Asian nation, \u201cNext week, Elon Musk asked to discuss with me the possibility and his commitment to increase his investments in Malaysia,\u201d Anwar was quoted as saying in a speech during an event with civil servants. Earlier in March, the Ministry of International Trade & Industry (MITI) said it had approved electric vehicle maker Tesla Inc\u2019s application to import battery-run EVs into Malaysia. The ministry said Tesla will open an office, showrooms and service centres in the country and establish a network of charging stations for its cars, but did not say when. According to the statement then, MITI said Tesla\u2019s presence in Malaysia is expected to create skilled and better paying job opportunities for workers in the Battery Electric Vehicles (BEV) segment and increase the participation of local companies in the Tesla ecosystem both domestically and globally. Anwar did not provide any other details of next week\u2019s meeting, according to the report on Friday. The Prime Minister\u2019s Office has yet to respond to Malaysia government approves Tesla\u2019s application to import BEVs into the country"}, {"url": "https://technode.global/2023/07/07/malaysias-gentari-partners-jomcharge-chargev-for-roaming-network/", "page": 26, "title": "Malaysia\u2019s Gentari partners JomCharge, chargEV for EV charging points roaming network", "contents": "Malaysia-based clean energy solutions provider Gentari said in a statement on Monday that the partnership will enable cross access to charging points on the Gentari, JomCharge and chargEV networks, and cross tracking via the Setel, JomCharge and chargEV mobile applications respectively. This allows electric vehicle (EV) drivers to access charging stations, activate and pay from any partner platform with ease, offering enhanced convenience and peace of mind. Via the roaming network, EV users have convenient access to a combined total of more than 600 charging points across Malaysia including in East Malaysia, equivalent to approximately 60 percent of EV charging points in the country. These comprise over 150 Gentari charging points, above 320 chargEV charging points and more than 100 JomCharge charging points. \u201cOffering ease of access and convenient use of charging infrastructure is essential to drive the switch to EVs,\u201d said Shah Yang Razalli, Chief Executive Officer of Gentari Green Mobility Sdn Bhd. With this roaming collaboration, he said they are able to offer access to an extensive network to empower EV drivers with range confidence, growing the number of accessible charging points at a pace that would have otherwise, become a challenge for individual network owners. \u201cWe are mutually committed to continue fostering innovation and collaboration towards achieving collective progress and pace in building the ecosystem necessary to push greater EV adoption,\u201d he added. Dr Che Hang Seng, Technical Director, EV Connection Sdn Bhd, said he believes this is an exciting milestone in the development of EV charging infrastructure in Malaysia, where three major charge point operators (CPOs) come together to innovate and bring convenience to the EV user community. \u201cWith our joint efforts, EV users are now able to enjoy seamless charging experience, where they can discover and access over 600 charge points across EVC, ChargEV and Gentari charging networks using just one single app of their choice,\u201cThe development of this roaming capability of our backend systems is also the first in Malaysia, and we believe more CPOs will follow suit,\u201d he added. Yinson Group Chief Executive Officer Lim Chern Yuan further said YGT as a leading green technology solutions provider is committed to an inclusive transition, ensuring that no one is left behind in our ultimate pursuit of a net-zero future. \u201cPartnering chargEV with Gentari and EV Connection, is a step forward to quickly expand the EV charging network, making it readily accessible and convenient for all, \u201cThis move empowers businesses and individuals in the adoption of sustainable transportation,\u201d he said. Sunway, Gentari and EV Connection ink MoU to develop Electric Vehicle charging infrastructure across Malaysia"}, {"url": "https://technode.global/2023/07/07/malaysias-proton-forms-partnerships-with-e-bidding-firms-mytukar-muv-and-carsome/", "page": 26, "title": "Malaysia\u2019s Proton forms partnerships with E-bidding firms myTukar, MUV and Carsome", "contents": "Malaysian national carmaker Proton said in a statement on Friday that by collaborating with the EBCs, the company is confident it has taken a significant step forward towards delivering a faster and more efficient way for customers to own new cars. According to the statement, Proton\u2019s partnership with EBCs will enable customers to send their vehicles for auction through a user-friendly online platform. This reduces the need for customers to visit multiple dealerships or negotiate with potential buyers, saving them valuable time and effort. Through a fair and open auction system, customers will be able to receive competitive trade-in values for their vehicles. The transparent pricing model also ensures that customers can make informed decisions during the trade-in process while the payment and ownership transfer processes are expedited to minimize any potential delays or complications, providing customers with a seamless experience. \u201cWe are thrilled to join forces with myTukar, MUV and Carsome as we believe this transforms the trade-in experience for our customers,\u201cBy leveraging on their expertise in e-commerce and auction platforms, the EBCs offer our customers a seamless and reliable solution for disposing of their trade-in cars, while also receiving competitive trade-in values,\u201d said Roslan Abdullah, Deputy Chief Executive Officer of Proton. According to the statement, as sales volume continue to rise, the need to offer customers a better way to trade-in and dispose of their old cars has become apparent. These partnerships are expected to provide customers with a range of benefits, including enhanced convenience, trustworthiness, competitive trade-in values, transparency in pricing, secure payment and ownership transfer, daily auctions, faster disposal, and comprehensive inspections. \u201cOver the last five years, Proton has increased the number of models offered and updated our current line-up, while improving product quality and introducing connectivity technology in our models,\u201d said Roslan Abdullah. According to him, consumer confidence has increased due to these efforts as well as improvements made at the dealership level. \u201cWorking with EBCs will help to enhance these efforts as well as the trade-in value of our models while helping to facilitate customers who intend to upgrade their vehicles,\u201d he added. He also noted Proton is the first original equipment manufacturer (OEM) to form strategic partnerships with EBCs and they think this will help pave the way for faster and more transparent trade-in transactions for customers and in turn help drive new car sales. \u201cAdditionally, by using open platforms, the resale value for our models can be established helping to build consumer confidence and giving a more accurate ownership picture to buyers,\u201d he added. Proton began as Malaysia\u2019s first national car project, founded with the aim to accelerate Malaysia\u2019s economic development and lay the foundations for the local automotive industry. In 2017, Proton entered its next phase to be a modern and global automotive brand; through a partnership between its two principals, Malaysian conglomerate DRB-HICOM and Chinese automaker Zhejiang Geely. MyTukar is a Malaysia-based digital used car platform owned by Singapore\u2019s used car marketplace Carro. Started out as a bidding platform for used car dealers in 2013, Muv is also a Malaysia-based marketplace for used vehicles. Carsome is a Malaysia-based integrated car e-commerce platform, providing end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing. With presence across Malaysia, Indonesia, Thailand and Singapore, the firm aims to digitalize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. Malaysia\u2019s Proton plans for comprehensive new energy vehicle solutions"}, {"url": "https://technode.global/2023/07/06/mranti-partners-leave-a-nest-to-advance-malaysian-startups-expansion-into-japan/", "page": 26, "title": "MRANTI partners Leave a Nest to advance Malaysian startups expansion into Japan", "contents": "Japan-based research group The GMP, organized by MRANTI since 2020, has been a catalyst for numerous companies, fostering growth and establishing partnerships across six countries, MRANTI said in a statement on Thursday. Now, in 2023, the program invites ambitious startups to apply and seize the opportunity to enter global markets, with Osaka and Tokyo as the selected destinations. \u201cGMP 2022 value creation for 18 companies was MYR 5.4 million ($1.16 million). This year, MRANTI is thrilled to assist 25 new innovative companies to embark on their next phase of growth, \u201cThis initiative is poised to become one of Malaysia\u2019s most prominent global market-entry programs, highlighting its significance this year,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. The GMP is seeking companies prioritizing research and development (R&D) solutions with intellectual property registered in Malaysia or are majority Malaysian-owned. Startups in various sectors, including manufacturing, robotics/drones, internet of things (IoT), artificial intelligence (AI), agri-tech, biotech, healthcare, med-tech, food-tech, care-tech, marine-tech and ecotech are encouraged to apply. Selected participants in the program will have the opportunity to gain a significant program value. Over a two to three month period, from August to November, participants will engage in a comprehensive series of physical and virtual workshops, match-making meetings, andThe program will guide participants on localizing and validating their business models, strategizing their market entry, and preparing their products and solutions for needs analysis and value creation frameworks. Additionally, participants will benefit from networking opportunities, gaining valuable business insights, and receiving technical support through one-on-one mentoring sessions from Leave a Nest ecosystem partners. They will have the chance to meet with potential investors, industry associations, and prospective partners to explore collaboration opportunities and contracts during the validation trip to Tokyo and Osaka. It is projected that each participating company will generate $109,000 in value creation over a span of 24 months, achieved through prototype contracts, development contracts, partnerships, intellectual property (IP) licensing, subscriptions, and other collaborations. To be eligible for the program, companies must demonstrate a minimum revenue of MYR 1 million ($210,000), possess commercialized products with a minimum technical readiness level of 6 or higher, have a proven stream of business transactions, and maintain a solid financial record. Applications for the Global Market-Fit program are now open, and interested startups can apply or inquire at www. mranti. my/gmp. The deadline for applications is July 30, 2023. Earlier in June, Leave a Nest Malaysia and MRANTI, have officially signed a Memorandum of Understanding Japan. The MoU signifies a significant milestone in promoting collaboration and advancing technological innovation between the two organizations. It also highlights the significance of this partnership in fostering regional collaboration. MRANTI is Malaysia\u2019s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact. Serving as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialize and scale, MRANTI offers innovators and industry access to integrated infrastructure, interventions and programs, partnerships and a suite of resources. In doing so, MRANTI aims to expand Malaysia\u2019s funnel of innovation supply, and unlock new R&D value by ensuring effective transitions in the commercialization lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI partners pitchIN to boost Malaysian startups"}, {"url": "https://technode.global/2023/07/06/malaysias-e-commerce-transactions-income-surges-10-4-pct-year-on-year-in-first-quarter/", "page": 26, "title": "Malaysia\u2019s E-Commerce transactions income surges 10.4 pct year on year in first quarter", "contents": "Malaysia\u2019s e-commerce income by establishment recorded a notable growth of 10.4 percent year-on-year in the first quarter of 2023, to reach MYR 291.7 billion ($62.6 billion U. S. dollars), official data showed Thursday. The Department of Statistics Malaysia (DOSM) said in a statement that this growth was primarily driven by manufacturing and services sectors. As for 2022, the e-commerce income amounted to MYR 1.1 trillion ($240 billion), rose 6 percent growth as compared to the previous year. On quarterly basis, the first quarter of 2022 recorded an income of MYR 264.3 billion ($56.72 billion), which increased to MYR 273.8 billion ($58.76 billion) in the second quarter. The upward trend continued, with e-commerce income registering MYR 274.6 billion ($58.93 billion) in the third quarter of 2022 and MYR 287.1 billion ($61.61 billion) in the fourth quarter of the same year. According to the DOSM, these positive results can be attributed to Malaysian government\u2019s initiatives aimed at establishing a regional e-commerce gateway, investing in e-commerce startups, promoting innovation through a regulatory sandbox, and enhancing communication and broadband facilities. It said these efforts have yielded substantial economic benefits, including increased adoption of digital technology and overall improved performance. Meanwhile, the income generated from e-commerce in Malaysia experienced a remarkable 23.9 percent surge in 2021 compared to 2019, reaching 1.04 trillion ($220 billion). Examining the e-commerce income by market segment, the local market segment, which includes sales conducted within Malaysia, recorded a substantial increase of 25.5 percent, amounting to MYR 932.7 billion ($200.15 billion) in 2021. In contrast, the international market segment increased by 11.9 percent, reaching MYR 104.5 billion ($22.42 billion). Furthermore, analyzing the e-commerce income based on the type of customer, business to consumer (B2C) transactions experienced a significant growth in 2021, rose 26.2 percent to MYR 308.9 billion ($66.29 billion). Business to business (B2B) transactions increased 25.9 percent to MYR 713.1 billion ($153.03 billion). Conversely, the business to government (B2G) transactions declined 31 percent to MYR 15.2 billion ($3.26 billion). According to the DOSM, these statistics highlight the substantial growth and economic impact of e-commerce in Malaysia, with strong performances in the local market segment, B2B transactions, and B2C transactions. This was despite that the B2G sector declined during the same period. Malaysia\u2019s E-commerce expenditure in 2021 also recorded an increase of 23.6 percent to MYR 460.8 billion ($98.88 billion). The local market segment surged 25.8 percent to MYR 426.8 billion ($91.59 billion), while the international market grew 3.2 percent to MYR 34 billion ($7.3 billion). E-commerce expenditure by type of market via B2B rose 20.5 percent to MYR 403.1 billion ($86.5 billion), followed by B2C with 85 percent increase to MYR 50.8 billion ($10.9 billion). Meanwhile, B2G expenditure declined 12.6 percent to MYR 7 billion ($1.5 billion). Subsequently, computer usage recorded an increase of 7.6 percentage points to 93.8 percent, followed by internet (increase 5.4 percentage points to 90.6 percent), and web presence (increase 9.4 percentage points to 63.3 per cent). Information and communication, financial and takaful/ insurance, and real estate sectors fully utilized the use of the internet and computers in their businesses. \u201cEven though the COVID-19 pandemic had a negative impact on the overall health and economy, it also had a significant positive effect on boosting Malaysia\u2019s e-commerce activity,\u201d said DOSM. It said the restrictions and safety measures imposed to control the spread of the virus, such as lockdowns, social distancing, and limited physical store operations, have led to a surge in online shopping and digital transactions. \u201cOverall, the COVID-19 pandemic has acted as a catalyst for the growth of e-commerce in Malaysia,\u201d it added. Malaysia\u2019s Vynn Capital shares research insights on Southeast Asia cross-border commerce landscape"}, {"url": "https://technode.global/2023/07/05/contactless-card-payments-usage-surges-in-malaysia-says-visa-study/", "page": 27, "title": "Contactless card payments usage surges in Malaysia, says Visa study", "contents": "Seven in ten consumers in Malaysia are now using contactless cards for payments, said a recent study done by global payment firm Visa. According to Visa Consumer Payment Attitudes Study, more than 90 percent of Malaysians are familiar with contactless payments, and almost 70 percent of them are using contactless payments in the country. This is an increase from 56 percent compared to the previous year. The top categories that Malaysians have been using contactless payments include supermarkets (53 percent), retail stores (46 percent) and restaurants (44 percent). Based on the study, Malaysian consumers also indicated that contactless payment is their most preferred payment method when paying for their groceries at the supermarket, retail shopping and making purchases for entertainment. The study highlighted that Malaysians are becoming more cashless, given card payments have overtaken cash usage in the country. Majority of Malaysians indicated that they have used credit or debit card payments (92 percent) compared to 86 percent who have used cash. In addition, more than three in four have attempted to go cashless. The study also showed close to 70 percent (67 percent) of consumers in the country have tried to go cashless for at least a few days. Close to 50 percent of Malaysian consumers said that they are carrying less cash in their wallets compared to before. The top reasons for carrying less cash include using more contactless card or mobile payments, more places adopting cashless payments and fear of carrying cash as it may be lost or stolen. Visa Country Manager for Malaysia Ng Kong Boon said that Malaysia has become one of the most developed contactless payments markets in Asia Pacific, where eight in 10 Visa transactions are contactless payments. \u201cWe are proud to share that contactless payments have grown significantly over the past few years, especially when we compare its growth since the pandemic,\u201d he said. According to him, in 2019, only three in ten Visa transactions were contactless payments in Malaysia. \u201cOver the years, we have worked with our merchants to expand contactless payments acceptance across everyday spend categories in Malaysia, and issuers to educate consumers about the benefits of contactless payments and we are seeing great results,\u201d he said. According to him, Visa\u2019s mobile pay partners launching mobile contactless payments in Malaysia have also supported this growth in usage. \u201cConsumers value the convenience of being able to tap and pay using their mobile devices and embrace it as a secure way to pay given every transaction is tokenized,\u201d he added. The study was conducted by CLEAR on behalf of Visa across seven Southeast Asian countries including Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Visa partners GHL to offer consumers instalment options for in-store purchases in Malaysia"}, {"url": "https://technode.global/2023/07/04/mranti-partners-pitchin-to-boost-malaysian-startups/", "page": 27, "title": "MRANTI partners pitchIN to boost Malaysian startups", "contents": "Malaysian Research Accelerator for Technology & Innovation (MRANTI)This collaboration will enable startups and spinoffs to raise investments through pitchIN\u2019s robust platform while receiving valuable support and guidance from MRANTI throughout their fundraising journey, the duo said in a statement on Tuesday. With alternative financing surpassing venture capital funding in Malaysia, having raised MYR 1.7 billion ($370 million) in 2022 compared to MYR 1.3 billion ($280 million) from venture funding, the collaboration between MRANTI and pitchIN positions regulated alternative financing and investments as the preferred option for businesses as well as investors in Malaysia. \u201cMalaysia aims to attain a Top 20 position in the Global Innovation Index (GII) by 2030 and rises among the middle-income economies by bridging the innovation divide, supported by positive indicators such as high-tech net exports and creative goods exports, \u201cOur position here tells you that we do have bright talent and a lot of potential that requires some refining,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. According to her, the collaboration between MRANTI and pitchIN will pave the way for a vibrant and dynamic innovation environment, enhancing Malaysia\u2019s position on the global innovation index (GII). By value-adding to the start-ups\u2019 growth development cycle, she said the collaborations are effectively raising their value and impact. She also said that through this partnership, they are poised to transform the investment landscape, democratize access to capital, and drive the growth of startups and spin offs in the country. \u201cKeep in mind that startups are the engine of our economy. They are generally more concerned with cutting-edge innovation and innovative technologies, \u201cBeing more agile means startups are able to develop a concept into a product and update it in response to customer demand with quicker decision-making communications. Essentially, they not only increase creation of impact technologies, but also chances for innovations to go into market,\u201d she added. Fundraising Accelerator (FA) by pitchIN is a specialized program designed to assist founders who have limited or zero experience in securing funding from external investors. It equips founders with the necessary techniques and knowledge to effectively raise capital for their businesses, providing in-depth learning on the intricacies of fundraising. Since its launch in November 2021, pitchIN has successfully completed a total of six cohorts of the FA. The program has been extended to three different cities, namely Kuala Lumpur, Penang, and Kuching in Sarawak. This year, the target is set to boost 15 tech startups from MRANTI in raising funds from investors in exchange for a stake (equity) in the businesses. Distinguished by its proven track record, pitchIN has facilitated the successful fundraising efforts of 163 companies, collectively raising an impressive MYR 297 million ($63.83 million) since 2016. Furthermore, pitchIN\u2019s Fundraising Accelerator (FA) program has already nurtured over 60 companies and 120 founders, equipping them with the skills and connections to embark on their entrepreneurial journeys. PitchIN Chief Executive Officer Sam Shafie said that pitchIN is looking forward to working with MRANTI on this program. \u201cOur FA programme will impart essential knowledge and the intricacies of fundraising to the participants. All startups need capital for growth and expansion,\u201d he said. According to him, his experience running the pitchIN equity crowdfunding platform has shown that most startups will benefit from learning about key areas covered in its program such as company valuation, legal, due diligence, deal structuring, and funds sources. \u201cIn addition to that, all our FA cohorts participants receive specialized fundraising advice as well as preferential access to our equity crowdfunding expertise,\u201d he added. Under this transformative partnership, several key initiatives will be implemented to foster growth and provide comprehensive assistance to startups and spinoffs. The capacity building programs are designed to equip startups and spin offs with the necessary knowledge and skills to successfully raise investments. These programs will guide entrepreneurs through the fundraising process, empowering them with the tools needed to attract investors effectively. Next, through pitchIN\u2019s Equity Crowdfunding (ECF) platform, tech enterprises are granted access to a diverse range of investors, including those from ASEAN countries, thereby expanding their alternative funding horizons. Furthermore, MRANTI\u2019s collaboration with pitchIN will foster collaboration between the private, public, government, and civil society sectors. By promoting the quad helix model, this partnership aims to create a vibrant ecosystem that nurtures innovation and facilitates seamless cooperation between all stakeholders. Adding to this, pitchIN will provide access to its extensive network of legal, marketing, and financial experts. Startups and spinoffs can leverage these resources for invaluable support and guidance throughout the fundraising process, ensuring a robust and successful campaign strategy. This partnership further amplifies MRANTI\u2019s role as connector and catalyst in the startup ecosystem. By joining forces with pitchIN, MRANTI reinforces its commitment to fostering entrepreneurship and driving the growth of startups and spinoffs in Malaysia. Applications for the Funding Accelerator Program that will take place from July 24 to July 26 are now open, and interested startups can apply at https://academy. pitchin. my. The deadline for applications is July 17, 2023. MRANTI invites high growth Malaysian startups for global expansion"}, {"url": "https://technode.global/2023/07/04/touch-n-go-ewallet-offers-complete-payment-coverage-for-on-street-parking-in-kuala-lumpur-and-selangor/", "page": 27, "title": "Touch \u2018n Go eWallet offers complete payment coverage for on-street parking in Kuala Lumpur and Selangor", "contents": "Touch \u2018n GoTouch \u2018n Go said in a statement on Monday that the newly enabled councils are the Majlis Perbandaran Klang, Majlis Bandaraya Seremban \u2013 Nilai, and Majlis Perbandaran Ampang Jaya. \u201cTouch \u2018n Go eWallet is the first eWallet in Malaysia to offer complete coverage for on-street parking in both Kuala Lumpur and Selangor, \u201cWith this, we are addressing pain points experienced by our users, especially with the removals of parking machines,\u201d said Alan Ni, Chief Executive Officer of TNG Digital Sdn Bhd. According to the statement, this expansion of the on-street parking feature in the eWallet brings the list to a total of 19 councils, covering areas including Kuala Lumpur, Selangor, Negeri Sembilan, Kelantan, Terengganu, Perak, Wilayah Persekutuan Putrajaya in Malaysia. \u201cWith more than 300,000 users paying their parking fee with Touch \u2018n Go eWallet daily, this expansion will bring good news to more users and our aim is to provide nationwide on-street parking coverage. No more skipping payment for parking, and drivers no longer need to search for parking ticket machines or paper tickets,\u201d said Ni. The Touch \u2018n Go is Malaysia\u2019s consumer facing financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd (Touch \u2018n Go) a wholly owned subsidiary of CIMB Group and TNG Digital Sdn Bhd (TNG Digital), a joint venture between Touch \u2018n Go and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. The Touch \u2018n Go Group of companies serve Malaysians who use its card, radio-frequency identification (RFID) and eWallet offerings to fulfil a host of daily transactions. TNG Digital Sdn Bhd was founded by Touch \u2018n Go Sdn Bhd and Ant Group in 2017. TNG Digital is the owner and operator of Touch \u2018n Go eWallet, with more than 19 million registered users and over 1.2 million merchant touch points including DuitNow QR. Combining Touch \u2018n Go\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, Touch \u2018n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Tourists can now use AlipayHK, Kakao Pay, Touch \u2018n Go, Alipay China in Thailand"}, {"url": "https://technode.global/2023/06/27/khazanah-spearheads-green-investment-platform-to-attract-new-direct-investments-into-malaysia/", "page": 27, "title": "Khazanah spearheads green investment platform to attract new direct investments into Malaysia", "contents": "Malaysia\u2019s sovereign wealth fund The green investment platform, which aims to attract domestic and overseas investments, will be mobilized under UEM Group Berhad (UEM Group), a wholly owned subsidiary of Khazanah, Khazanah said in a statement. According to the statement, the platform will look to invest and build businesses in green sectors such as renewable energy and storage, green building technology and energy efficiency, and e-mobility ecosystem. In line with Khazanah\u2019s Advancing Malaysia strategy and as part of its nation-building and value creation initiatives, the platform is aimed at delivering Khazanah\u2019s societal, strategic and financial mandates. Khazanah plans for the platform to drive Malaysia\u2019s decarbonisation agenda while also upskilling Malaysians in green sectors over the long term. The platform will also serve to unlock value in Khazanah\u2019s existing portfolio and achieve commercial returns by developing its seed assets through new investments and collaborating with high potential local and international companies. \u201cOur vision is the development of a globally competitive green investment platform in the region, with a direct and active ownership approach,\u201d Khazanah managing director Amirul Feisal Wan Zahir said. According to him, this will be carried out in phases with its initial near-term objective of creating green domestic champions in the country, followed by the medium-term aim of establishing a platform that is competitive regionally. \u201cThe platform will be a significant part of our nation-building and value creation initiatives, aimed at driving Malaysia\u2019s decarbonization agenda and economic prowess, while building the capabilities of the nation\u2019s green industries and upskilling of Malaysians to support and augment these industries, as we head towards the new economy,\u201d he added. According to the statement, Khazanah via UEM Group will soon launch a comprehensive strategy on strategic investments as well as partnerships and collaborations with both local and foreign entities, including planned approaches to attract green investments to create a vibrant and dynamic green economy ecosystem. \u201cWe look forward to contributing towards the government\u2019s ambition in establishing Malaysia as ASEAN\u2019s center of electricity interconnection and integration to facilitate the sharing of renewable energy resources, crowd-in more investments and promote sustainable development in the region by synergizing efforts across our companies,\u201d said Amirul Feisal. Khazanah is the sovereign wealth fund of Malaysia entrusted to deliver sustainable value for Malaysians. In line with its long-term strategy of Advancing Malaysia, the fund aims to deliver its purpose by investing in catalytic sectors, creating value through active stewardship, increasing its global presence, as well as building capacity and vibrant communities for the benefit of Malaysians. Malaysia\u2019s Khazanah anticipates another challenging year ahead"}, {"url": "https://technode.global/2023/06/27/iskandar-investment-collaborates-with-seven-ev-players-to-promote-ev-use-in-malaysia/", "page": 27, "title": "Iskandar Investment collaborates with seven EV players to promote EV use in Malaysia", "contents": "In keeping up with global efforts towards sustainable development and reducing carbon emissions, This initiative is part of the five strategic verticals to further solidify IIB\u2019s commitment in spearheading a net-zero carbon central business district (CBD) in Medini Iskandar, IIB said in a statement. According to the statement, the collaboration brings together industry players such as Nano Malaysia Bhd, Handal Indah Sdn Bhd, Handal Green Mobility Sdn Bhd, Kumpool Sdn Bhd, Yinson Green Technologies (M) Sdn Bhd, GO TO U (M) Sdn Bhd, and UN Global Compact Network Malaysia and Brunei (UNGCMYB). IIB said that such collective efforts are paramount in promoting sustainable transportation solutions that are environmentally friendly, socially equitable, and economically viable. \u201cWe have outlined five strategic verticals in our roadmap to achieve carbon neutrality in Medini Iskandar which are energy management, water management, waste management, green building materials and of course, sustainable mobility.  \u201cToday, are proud to lead the way in the first vertical, which is our commitment in advancing electric vehicle adoption and paving the way for clean energy solutions by having charging stations for EV vehicles,\u201d IIB President/Chief Executive Officer Idzham Mohd Hashim said. According to him, this document exchange ceremony signifies the agency\u2019s dedication to creating a net-zero carbon city in Medini and establishing low-carbon cities as a global standard. \u201cBy collaborating with key stakeholders, we leverage their expertise and resources to accelerate the growth of the EV industry, shaping a cleaner and more sustainable future, where economic prosperity goes hand in hand with environmental responsibility,\u201d he said. According to the statement, IIB\u2019s partnership with UNGCMYB aims at jointly developing and implementing sustainable development initiatives within Iskandar Puteri, in line with the United Nation\u2019s Sustainable Development Goals.  The partnership serves as a platform to facilitate knowledge sharing of best practices between IIB and other members of UNGCMYB. As part of creating awareness and enhancing understanding of sustainable development principles, the collaboration will expand into capacity-building initiatives which include conducting training programs, workshops and seminars. These efforts will be broadened to local communities, civil society organizations and government entities to foster collaboration and address shared challenges. With all these initiatives put together, IIB is expected to enhance their reputation as a leading player in Iskandar Puteri\u2019s development. The integration of sustainable practices into its development plan will also provide competitive advantage by attracting sustainable investors, tenants and partners. In recognizing the increasing usage of EV\u2019s in the state, the Johor state government plans to develop mechanisms that support EV usage in the future. Following the strong push for a full EV population by Singapore in their Green Plan 2030, a high demand for EV charger stations in Johor has also developed. The initiative undertaken by IIB will establish the necessary infrastructure to support the transition to EVs, and it will play a vital role in the federal and state of Johor\u2019s low carbon initiative. \u201cToday\u2019s document exchange ceremony marks a significant milestone in our journey towards sustainable development and a low-carbon future,\u201d said Raven Kumar a/l Krishnasamy, Johor State EXCO for Tourism, Environment, Heritage and Culture. According to him, this collaboration stands as a testament to the unwavering commitment of IIB and its strategic partners as they work hand in hand to create a greener and more carbon-neutral Johor. \u201cWe must now recognise the pressing need to address the challenges of carbon emissions and environmental degradation,\u201cThe environment is our shared responsibility. Let us work together to preserve the natural beauty of Johor for future generations, ensuring a sustainable and thriving ecosystem,\u201d he said. IIB is a catalyst of change and a key player in Iskandar Malaysia\u2019s transformation into a regional metropolis of international standing. Incorporated in November 2006, IIB is tasked to ensure Iskandar Malaysia continues its successful trajectory into an attractive investment destination and a vibrant, liveable region via catalytic and high-impact projects. Malaysia\u2019s Iskandar Investment provides funding access, opens doors for tech startups through Match@Medini pitching program"}, {"url": "https://technode.global/2023/06/27/malaysias-imotorbike-raises-2-6m-in-series-a-round-led-by-gobi-partners-and-ondine-capital/", "page": 27, "title": "Malaysia\u2019s iMotorbike raises $2.6M in Series A round led by Gobi Partners and Ondine Capital", "contents": "IMotorbikeThe funding round also saw returning participation from Penjana Kapital, The Hive Southeast Asia, 500 Global, SOSV\u2019s Orbit Startup; new investors Goodwater Capital, Seedstars International Ventures and Permodalan Negeri Selangor Berhad (PNSB); as well as other institutional venture capitalists, iMotorbike said in a statement on Tuesday. The Series A funds will be used to strengthen the iMotorbike operations in Malaysia and Vietnam, including opening more inspection centers in both countries; as well as for technology and talent investments. IMotorbike Co-Founder and Chief Executive Officer Gil Carmo said the successful fundraise is a testament to the business of the motor trading platform. \u201cThis infusion of capital will be instrumental in fueling the next phase of growth for the company, as we spearhead the transition towards a circular economy in the two-wheeler market,\u201d he said. According to him, the firm will expand its efforts to promote sustainability, create a robust ecosystem for the reusing of motorcycles, parts and accessories to reshape the future of mobility. \u201cWe are customer-obsessed. We drive our strategy by improving customer experience in every aspect of our business, hence this is why we are opening more inspection centers,\u201cThe value of what we are building is showing from the good customer feedback we get on a daily basis,\u201d he added. IMotorbike, which enables users to buy and sell preowned motorcycles on a secure marketplace, was founded by entrepreneurs Gil Carmo and Sharmeen Looi to address the gap in the two wheeler market. The platform has generated over 2,500 transactions with total revenue of more than MYR 16 million ($3.5 million). With connections of 5,000 dealers across Malaysia and Vietnam, it also provides financing option, insurance and road tax for users\u2019 convenience. Gobi Partners co-founder and chairperson, Thomas Tsao, has a positive outlook on the potential for substantial growth in iMotorbike given the size of the Southeast Asian market. He opined that iMotorbike serves as an excellent example of a circular economy startup, with the potential to become a major player in the two-wheeler industry. \u201cIn Malaysia alone, there are 1:1 motorcycles for every car, and this ratio increases to 6.5 times in Indonesia and a staggering 14.2 times in Vietnam,\u201cThis represents a combined market size of 216 million motorcycles which iMotorbike is poised to tap into,\u201d he said. Meanwhile, Ondine Capital founding partner Randolph Hsu said its latest investment into iMotorbike aligns perfectly with its focus to fund Southeast Asian startups with consumer technology. \u201cWe are always on the lookout for promising startups with a unique value proposition, \u201ciMotorbike has stood out with its market traction, stemming from its mission to improve the preloved motorbike market,\u201d he said. To date, iMotorbike has secured a total of MYR 19.3 million ($4.2 million) since its pre-seed funding round. With rising inflation, higher cost of living amid surging fuel prices, iMotorbike expects to see more people turning to motorcycle as a mode of transportation and as a means of generating income. As two-wheelers remain a viable, low-maintenance option for many commuters and e-commerce riders, iMotorbike opined that the firm is well-positioned to capitalize on this immense potential. Entering the next exciting phase of growth, iMotorbike said it is poised to continue revolutionizing the preowned motorcycle landscape. The startup said it remains committed to its vision of tackling four pain points of buying and selling preowned motorcycle reliability, transparency, market fragmentation and time consumption. Southeast Asia\u2019s used motorcycle platform iMotorbike targets $20M revenue in 2023"}, {"url": "https://technode.global/2023/06/26/ant-group-expands-alipay-coverage-to-all-7-eleven-stores-in-malaysia/", "page": 27, "title": "Ant Group expands Alipay+ coverage to all 7-Eleven stores in Malaysia", "contents": "Ant GroupUsers of four leading Asian mobile wallets including AlipayHK (Hong Kong SAR), GCash (Philippines), Kakao Pay (South Korea) and TrueMoney (Thailand) can now seamlessly pay in 7-Eleven using their home mobile wallets, the firms said in a statement. Alipay, also an Alipay+ partner mobile wallet, has been accepted by Malaysian merchants since 2016. With the latest development and acceptance in 7-Eleven, Alipay+ is now integrated in more than 80,000 merchant touchpoints in Malaysia, including in popular travel destinations such as Klang Valley, Johor Bahru and Penang. These merchants comprise a wide range of industries such as retail, food and beverage (F&B) and hospitality, including well-known local and international brands like Tealive, MyNEWS, Sephora, Watsons, Sports Direct and Duty-Free stores. \u201c7-Eleven Malaysia is thrilled to enhance the traveller experience as tourists return to our beautiful country, \u201cBy expanding Alipay+ coverage to all our stores, we are providing a seamless and convenient digital payment solution for visitors from around the world,\u201d said Chan Chee Weng, Assistant General Manager In-Store Services, 7-Eleven Malaysia. \u201cAs a key use case for tourism, our stores serve as a one-stop destination for travellers, offering a wide range of products, snacks, and essentials,\u201cWe understand the importance of a seamless, digital in-store experience, and through this expansion, we aim to make every visit to 7-Eleven Malaysia a delightful and hassle-free experience for both local customers and international tourists,\u201d he added. Currently, 7-Eleven Malaysia operates in numerous cities nationwide, offering a wide coverage and presence in urban areas, tourist hotspots, transportation hubs, and residential neighborhoods. Beyond the typical convenience store offerings of snacks, beverages, and daily necessities, they also provide travel essentials such as travel-sized toiletries, phone chargers, travel adapters, and ready-to-eat meals. Razer Merchant Services (RMS), the business-to-business solution of Razer Fintech is the acquiring partner to facilitate the integration of Alipay+ in over 2,400 7-Eleven stores in Malaysia. \u201cRazer Merchant Services strives to facilitate the digital transformation of Malaysian businesses through our partnership with Alipay+, \u201cOur collaboration deepens the close relationship with 7-Eleven and empowers 7-Eleven to tap into the vast opportunities of the digital economy by offering convenient payment for locals and tourists, enhancing the overall experience and driving growth,\u201d said Lee Li Meng, Chief Executive Officer of Razer Fintech. According to the statement, the acceptance of Alipay+ will offer Asian travellers a more convenient digital travel experience, and comes as Malaysia looks to welcome more tourists. In the 2023 Budget, MYR 250 million ($53.41 million) was allocated to promote the tourism sector, with expectations for a surge in tourist arrivals in the second half of 2023. Malaysia is also targeting 16.1 million tourists in 2023, 60 percent more than the previous year. \u201cWith growing coverage of Alipay+ in Malaysia, we\u2019re connecting more Asian travellers to local merchants, helping to position Malaysia as a travel destination of choice and unlocking new opportunities for local businesses, \u201cAs the leading convenience store, 7-Eleven is the ideal travel partner for tourists as they travel like a local around Malaysia and they can now enjoy a more digitally enhanced experience at these stores,\u201d said Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services at Ant Group. She said the firm will continue to enable more local merchants to integrate Alipay+ and promote a positive digital ecosystem between our partners, businesses and travellers. Introduced by Ant Group in 2020, Alipay+ aims to enable local businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach over 1 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to Malaysia, Alipay+ is also widely accepted in destinations including the Chinese mainland, Macao SAR, Singapore, Thailand, Japan, South Korea among others.7-Eleven Malaysia Holdings Berhad through its subsidiary 7-Eleven Malaysia Sdn. Bhd. is the owner and operator of 7-Eleven stores in Malaysia.7-Eleven Malaysia is the pioneer and largest 24-hour standalone convenience store operator in Malaysia with over 2,400 outlets nationwide and serves more than 1 million customers daily. Malaysia\u2019s GHL expands Alipay+ integration to 2,600 Thai merchants"}, {"url": "https://technode.global/2023/06/26/ocbc-bank-ties-up-with-five-electric-vehicle-related-companies/", "page": 27, "title": "OCBC Bank ties up with five electric vehicle-related companies to provide affordable payment options in Malaysia", "contents": "In a move to strengthen its environmental, social and governance (ESG)-related offerings to retail customers, OCBC Bank said in a statement that the collaboration with EV Connection, CarputZap, GoCar, Renault and PowerBee (a wholly owned subsidiary of Solarvest Holdings Berhad) will, among others, avail to OCBC cardmembers 0 percent instalment payment plan (IPP) options of up to 24 months on EV chargers. They will also get to enjoy discounts on EV chargers, on car sharing rides, and daily to yearly subscription of electric vehicles. According to OCBC Bank Managing Director and Head of Consumer Financial Services Anne Leh, the rollout of the offerings comes on the back of increasing demand from customers for support in their electric vehicle-ownership journey. She said that the introduction of the electric vehicle-related offerings is part of the bank\u2019s overall strategy to focus on encouraging its customers to stay with their EV journey. \u201cEVs are a key component of a low carbon economy. By providing attractive credit card offers and instalment payment plans, we hope to help our customers in their acquisition of peripherals like EV chargers and usage of rental electric vehicles,\u201d she said. She noted that the endgame is of course to encourage those who wish to switch to EV to do so knowing full well that they have the necessary support. According to her, one of the bank\u2019s partners is offering a solution for its customers who are having difficulty convincing their condominium and commercial property management to install EV chargers, whereby the partner provides complimentary installation of a public pay-per-use EV charger at the property. She noted that OCBC cardholders utilizing the EV chargers at these condominiums and commercial properties will get to enjoy a 10 percent rebate on the EV charging charges. She said the bank\u2019s tie ups also extend offers for non-EV drivers to try out EVs at a discounted price with daily, weekly, 30-day, and yearly subscriptions, thus easing the decision to purchase an EV. Apart from 0 percent IPP for OCBC credit cardholders, she said debit cardholders are also eligible for all the other deals. She added that OCBC Bank is also working towards collaborating with other EV partners to offer its customers 0 percent IPP on their EV down payments. Last year, OCBC Bank became part of a relatively rare group of building owners in the city center to offer EV charging services, aligned with its quest to promote sustainability and climate-friendly practices. The chargers were installed at Menara OCBC by Petaling Jaya-based EV Connection Sdn Bhd (EVC) in Malaysia, a pioneer in the electric vehicle charging infrastructure and solution provider established in 2016. EVC is a registered electrical contractor with Energy Commission (Suruhanjaya Tenaga) Malaysia and a certified EV charger installer by TUV Rheinland. OCBC an established Singapore bank, formed in 1932 fromIt is now the second largest financial services group in Southeast Asia by assets. OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. The bank\u2019s key markets are Singapore, Malaysia, Indonesia and China. It has more than 420 branches and representative offices in 19 countries and regions. OCBC partners ADDX to launch tokenized equity-linked structured note"}, {"url": "https://technode.global/2023/06/23/yinson-greentech-inks-partnership-with-pos-malaysia-to-launch-ev-charging-stations/", "page": 27, "title": "Yinson GreenTech inks partnership with Pos Malaysia to launch EV charging stations", "contents": "Pos Malaysia BerhadPos Malaysia said in a statement that the EV charging stations are now available daily from 7am to 11pm at six Pos Malaysia post offices throughout the country including Shah Alam, Ipoh, Melaka, Seremban, Alor Setar and Johor Bahru. It said that the firm\u2019s commitment to advancing sustainable mobility solutions and expanding access to sustainable energy sources is demonstrated through the installation of EV chargers. According to the statement, these chargers will be installed in phases, with plans to expand to additional post offices, ensuring greater accessibility for EV owners and supporting the growing number of electric vehicles in the country. Each outlet features 1 DC charger with two CCS2-type nozzles (fast charging) with 40kW power. It is noted that charging an EV up to 80 percent will require anywhere between 60 and 90 minutes, depending on the model of the EV. The chargEV chargers are designed to provide Pos Malaysia EV users with an optimal charging experience, delivering efficient and reliable charging performance. In parallel with this development and recent net-zero goals, Pos Malaysia recently deployed over 40 e-Bikes to deliver mail and parcels across the Klang Valley carbon-free. By the end of 2023, Pos Malaysia aims to have a combination of more than 200 e-Bikes and 140 e-Vans, across Peninsular Malaysia. \u201cThis partnership marks a big step in our ongoing commitment to environmental stewardship,\u201d Pos Malaysia Berhad\u2019s Group Chief Executive Officer Charles Brewer said. As Malaysia\u2019s postal and courier provider, he said the firm embraces the responsibility to forge a path towards a more sustainable future. \u201cWe recognize the significance of integrating sustainability into every facet of our operations, ensuring that our legacy endures for generations to come,\u201d he said. He also said by collaborating with an esteemed partner like Yinson, the firm can drive positive change in the realm of sustainable transportation and reduce range anxiety for EV users as it makes EV charging stations available at its post offices. \u201cThis demonstrates our unwavering commitment to lowering carbon emissions and advancing a greener future for Malaysia, and it perfectly complements our larger sustainability initiatives and net-zero goals,\u201d he added. YGT Chief Executive Officer Eirik Barclay said that this partnership not only grows the firm\u2019s comprehensive charging networks offering EV users with a convenient and seamless experience as they go about their daily lives but also benefit Pos Malaysia by lowering carbon footprint thereby taking the first step in playing a part in accelerating the net zero future. \u201cBuilding on our aspirations to help businesses transition towards sustainability, we are pleased to have partnered with Pos Malaysia in rolling out our chargEV stations across these selected locations,\u201d he said.  According to him, this initiative also aims to encourage EV users to explore Pos Malaysia\u2019s diverse range of offerings while charging their vehicles at pos office outlets. \u201cLeveraging on our extensive network of over 600 locations and millions of square feet of retail and outdoor space, we have partnered with esteemed brands like Cafe Mesra, ZUS Coffee, Photobook and chargEV to introduce innovative solutions that enhance customer experience through special promotions tailored for EV drivers while charging their EV vehicles at selected outlets,\u201d he added. It is noted that Pos Malaysia remains dedicated to delivering on its sustainability goals on multiple fronts, including its commitment to achieve net-zero carbon emissions by 2050. The firm is also a participating company of UN Global Compact (UNGC) and a member of the International Post Corporation (IPC) Sustainability Measurement and Management System (SMMS) program, and it actively contributes to managing sustainability and reducing the carbon footprint of the post and parcel industry. Yinson Greentech partners Plus Malaysia to jointly develop chargEV hyperpower DC fast charging hub"}, {"url": "https://technode.global/2023/06/23/malaysia-to-take-action-against-facebooks-parent-meta-over-harmful-contents/", "page": 27, "title": "Malaysia to take action against Facebook\u2019s parent Meta over harmful contents", "contents": "The Malaysian Communications and Multimedia Commission (MCMC) announced on Friday it will take legal action against Meta, the parent company of Facebook as the company has failed to remove \u201cundesirable contents\u201d on the Facebook social media platform. In a statement, the MCMC said the Facebook platform has recently been plagued by a significant volume of undesirable contents relating to the aspects of Race, Royalty, Religion (3R), defamation, impersonation, online gambling as well as scam advertisements. \u201cIn response, the MCMC has reached out to Meta, parent company of Facebook to have such harmful contents removed from its platform,\u201d the agency wrote. \u201cDespite repeated requests from MCMC, Meta has failed to take sufficient action to address the issue of undesirable contents on its platform and has not fully cooperated with efforts to remove such contents. Meta\u2019s response, which has been sluggish and unsatisfactory, has not met the urgency of the matter and has led to increasing public concern and scrutiny. \u201dAs there is no sufficient cooperation from Meta, MCMC said it has no option but to take definitive steps or legal action against Meta as a measure to ensure that people are secure and protected in the digital sphere. The agency said such action is necessary in promoting accountability for cybersecurity and enhancing consumer protection against online harms, including fraudulent activities and scams. \u201cMCMC is utterly intolerant towards any continuous and escalating abuse of online platforms and telecommunications, network or online facilities for malicious cyber activities, phishing, or any contents that threatens racial stability, social harmony and defies respect for the Rulers,\u201d the agency added. The announcement also comes just ahead of elections in six states in the country. Facebook is Malaysia\u2019s largest social media platform with an estimated 60 percent of its population of 33 million having a registered account, Stock exchange supports MCMC\u2019s actionMeanwhile, in a separate statement on Friday, local stock exchange Bursa Malaysia has supported MCMC\u2019s action to take action against Meta for failing to remove undesirable contents relating to amongst others, scam advertisements, on its platform. \u201cThe exchange has been the target of scams with ill-intentioned impersonation of Bursa Malaysia and its management on social media platforms \u2013 in particular Muhamad Umar Swift, its Chief Executive Officer,\u201d the company said. The exchange said it has found an alarming number of these impersonations over Facebook, in fact over 60 pages this year, with a spike in recent months. As alerted through past media statements and social media postings, the exchange reiterate that these fake pages and sponsored advertisements have no relation to Muhamad Umar Swift nor the Exchange. \u201cAny form of communication, other than via the exchange\u2019s own verified and official website and social media channels, is not authorised or lawful, and is designed to mislead or cheat the public. This includes any form of communication purportedly from the exchange\u2019s Chief Executive Officer or any of its Board members or personnel,\u201d it said. While the exchange takes prompt action to raise attention to detected scams and report the cases, the exchange said it is very concerned that the time taken for removal of such pages by the relevant bodies, greatly increases the risk of innocent and unknowing members of the public revealing personal information and/or being duped, if they were to fall for such unauthorised solicitations or invitations. Even with the actions taken by the exchange, fake pages impersonating Muhamad Umar Swift with corresponding sponsored advertisements continue to emerge on Facebook and other social media sites. The alarming incidence and rise of these scams via fake pages are of serious concern and the Exchange calls on Meta and all other social media entities to take swifter action to minimise or prevent malicious, misleading and/or illegal activities. \u201cDespite submitting recurring take down reports that establish a very simple and clear pattern of impersonation, we are very concerned that incidents of the same nature continue to occur. We need the relevant entities, including Meta, to put in place algorithms or checks to prevent, or quickly detect and put a stop to these blatant scams, which thrive on identity theft and fraud,\u201d said Muhamad Umar Swift. Similar scam tactics have been found on other notable Malaysian figures and companies. \u201cMeta as an organisation should take further steps to prevent confusion and fraud among its users, and reputational damage and negative brand association to the affected individuals or entities\u201d he added. According to the MCMC, a total of 744 reports on online scams involving Facebook from January to May 25, 2023 were reported. Globally, there has also been calls by other jurisdictions for Meta to be more responsible or held accountable for abetting scams, Bursa Malaysia noted. \u201cThe public are advised to continue being vigilant and not fall prey to scams. They can also play a role in preventing online scams by reporting any scams that use Bursa Malaysia\u2019s name, logo, or representative. The exchange would like to reiterate to the public that Muhamad Umar Swift and other Bursa Malaysia representatives do not and will not run sponsored advertisements nor issue invitations to \u2018exclusive stock tips\u2019 groups,\u201d it added. Facebook-parent Meta to cut 10,000 jobs in second round of layoffs"}, {"url": "https://technode.global/2023/06/23/bridge-data-centres-expands-data-center-at-malaysias-mranti-park/", "page": 28, "title": "Bridge Data Centres expands data center at Malaysia\u2019s MRANTI Park", "contents": "Bridge Data Centres (BDC)This expansion provides an additional 48 MW of information technology (IT) power to hyperscalers and enterprises in Malaysia and Asia Pacific, BDC said in a statement. According to the statement, BDC has signed an agreement with Malaysian Research Accelerator for Technology & Innovation (MRANTI), Malaysia\u2019s central research and innovation commercialisation agency, to develop three buildings and a 132kV substation in MRANTI Park. With the expansion, MY03 will offer a total IT power capacity of 64 MW. The expansion project comprises two phases. Phase One is planned to be ready for service with 16MW by the third quarter of 2025. Phase Two is scheduled to begin operations by the fourth quarter of 2027. This development further reinforces MRANTI Park as a thriving technology hub for the global community, accelerating business growth and success. It is noted that the establishment of the data center campus in MRANTI Park entrenches Malaysia as a desired destination for data center investment in the Asia Pacific region. Located strategically in the vicinity of central Kuala Lumpur, MRANTI Park spans across a vast area of 686 acres and strategically supports the entire innovation process with a focus on driving the commercialization of \u201cimpact technologies\u201d in key industry sectors to foster sustainable development. \u201cLast year, we introduced a comprehensive and integrated approach to transform MRANTI Park from a property-focused sector into a leading 4IR hub in Malaysia, \u201cThis Master Plan aims to achieve a gross development value of RM20 billion, land leases worth MYR 2.8 billion ($600 million), and the creation of 8,000 jobs by 2027,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. According to her, the agency recently launched the country\u2019s national testbed for 5G through the government-led MRANTI 5G Experience Centre to fast-track new innovations in a more enriching data-driven future. \u201cToday, we are excited to announce the expansion of Bridge Data Centres within MRANTI Park, aligning perfectly with MRANTI Park\u2019s expansion strategy,\u201d she added. Meanwhile, the Malaysian Investment Development Authority (MIDA) Chief Executive Officer Wira Arham Abdul Rahman said the project serves as a testament to investors\u2019 trust and confidence in Malaysia as a strategic, conducive and sustainable data centre investment destination in the region. He said MIDA will continue to facilitate BDC\u2019s strategic initiative in creating market ready talent and providing cutting-edge technologies to local businesses, especially small and medium-sized enterprises (SMEs), thereby expediting Malaysia\u2019s growth into a high-income nation. Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer Mahadhir Aziz said that the BDC\u2019s expansion in Malaysia not only addresses the surging demand for digital transformation but also underscores the country\u2019s unwavering commitment to advancing Malaysia\u2019s position as the digital hub of ASEAN. \u201cBy catalyzing growth in the digital economy through our Malaysia Digital (MD) national strategic initiative and PEMANGKIN programs, we are fostering an ecosystem that propels Malaysia to the forefront of high-value investments,\u201cTogether with BDC, we are poised to serve evolving digital infrastructure needs and forge a path towards a future defined by innovation and success,\u201d he added. BDC President Dz Shing Lim said the firm\u2019s expansion in Kuala Lumpur further strengthens its position as Asia Pacific\u2019s data centre solutions leader. He said that this strategic investment allows the firm to better serve its clients\u2019 evolving needs with best-in-class data center solutions and contribute to Malaysia\u2019s digital transformation journey. Tho Lye Yit, Vice President, Design at BDC, said that the state-of-the-art facility will feature sustainable features, energy-efficient power and cooling technology and multiple network connectivity to ensure uninterrupted operations and optimal performance. BDC is a provider of data center solutions in Asia Pacific, with presence in Malaysia, India and Thailand. The firm has data center operations in Malaysia, India and Thailand. The firm delivers built-to-suit data center services ranging from planning, design, construction to operations. It is committed to achieve carbon neutrality in all hyperscale data centers by 2040. Princeton Digital acquires land from JLand to develop 150MW data center campus in Malaysia"}, {"url": "https://technode.global/2023/06/23/yinson-greentech-partners-plus-malaysia-to-jointly-develop-chargev-hyperpower-dc-fast-charging-hub/", "page": 28, "title": "Yinson GreenTech partners Plus Malaysia to jointly develop chargEV hyperpower DC fast charging hub", "contents": "Malaysian green technologies solutions provider Both parties said in a statement that YGT has through its joint venture company Green EV Charge Sdn Bhd (GEV) signed a memorandum of understanding (MoU) with PLUS. According to the statement, the fast charging hub will also incorporate mobility retail including food and beverage outlets and other amenities along with multiple fast electric vehicle (EV) chargers as an introduction to a brand-new concept of EV charging to Malaysians. To date, YGT has upgraded one alternate current (AC) EV charging point to a direct current fast charger (DCFC) at Ayer Keroh Overhead Bridge Restaurant (Southbound). Through the MoU, YGT will will upgrade and provide a further five DCFC chargers at the rest and service areas (RSA) at Tapah (Southbound), Dengkil (Southbound), Gunung Semanggol (Northbound), Pagoh (Southbound) and Seremban (Northbound). Malaysia\u2019s first fast charging hub will be located at PLUS Seremban RSA (Southbound) featuring eight charging bays and each, with a power output of up to 350kW, is able to fully charge an EV within 20 minutes. The collaboration will leverage on the expertise of both parties and will maximize mutual benefits, expanding and enhancing products and services, as well as the strategic innovation. The MoU will establish a strong working relationship between YGT & PLUS and sets up effective mechanisms for effective project implementation together. The combined effort supports the nation in providing EV infrastructure aligned to the low carbon mobility blueprint (LCMB). Both parties will also collectively work to develop new ideas that will cater to the growth of the EV market, such as Malaysia\u2019s first fast charging hub with dynamic load balancing technology or the level 3 DC charging solutions which allow optimal and efficient charging power among charging stations. This ensures a faster and more reliable charging experience for EV users. \u201cOur National Automotive Policy (NAP) is focused on developing the whole ecosystem for Next Generation Vehicles (NxGV), which includes energy efficient vehicles (EEV) and the necessary nationwide charging network, \u201cTo that end, YGT and PLUS\u2019s collaboration on Malaysia\u2019s first chargEV hyperpower DC fast charging hub supports the NAP\u2019s strategy to enhance the EV industry\u2019s value chain,\u201d said Zafrul Aziz, the Minister of Investment, Trade and Industry in Malaysia. Apart from helping to fulfil our national target to have 10,000 charging points by 2025, he said the partnership also supports Malaysia\u2019s goal to be carbon-neutral by 2050. \u201cMITI expects this collaboration to also benefit small and medium-sized enterprises (SMEs) in the domestic supply chain, as well as Malaysians working in industries such as  electrical and electronic products (E&E) and automotive,\u201d he added. Meanwhile, Yinson Holdings Berhad Group Executive Chairman Lim Han Weng said that this partnership encapsulates both parties\u2019 joint commitment to work together to expand their complementing solutions. \u201cIt marks another exciting step towards our shared goal of ultimately accelerating the electrification of the marine, mobility, and infrastructure ecosystem in Malaysia in line with the country\u2019s aim to become a carbon neutral nation by 2050,\u201d he said. Yinson GreenTech Chief Executive Officer Eirik Barclay also said that as the leading EV charging infrastructure provider in Malaysia, chargEV is excited to work alongside PLUS, to introduce innovative products and solutions to support the ever-growing EV needs of PLUS\u2019 customers. He said the firm\u2019s aim is to make EV charging readily available and easily accessible. \u201cAs we are completely confident that the market share for EVs will continue to accelerate very rapidly in the coming years, we want to ensure that Malaysian EV users will have access to the fastest and most reliable charging experience possible,\u201d he added. PLUS Managing Director Nik Airina Nik Jaffar noted that PLUS operates a highway network that spans over 1,130km. Being the backbone of Malaysia\u2019s highway infrastructure, she said PLUS plays a significant role in shaping and contributing to the sustainable development of the nation. She also said PLUS collaborated with Ministry of Works (MoW) and Malaysian Highway Authority (MHA) to develop an EV charging station roadmap, aimed to achieve 100 DCFC charge points by 2025. \u201cAs at 2022, twenty chargers have been energized. This year alone, there will be another twenty charge points available along the PLUS highways,\u201cThis collaborative initiative will promote low carbon mobility practices among Malaysians, accelerate the country\u2019s EV adoption and be a catalyst towards achieving the government\u2019s 2050 carbon neutral aspirations,\u201d she added. GEV is a joint venture between YGT and GreenTech Malaysia Alliances Sdn Bhd, a wholly owned subsidiary under the Malaysian Green Technology and Climate Change Corporation, a government agency under the purview of the Ministry of Natural Resources, Environment & Climate Change. The joint venture is tasked to roll out the commercialization, operation, and maintenance of charging infrastructure in Malaysia through chargEV. Yinson partners AEON to develop Malaysia\u2019s largest retail EV charging network"}, {"url": "https://technode.global/2023/06/23/malaysias-iskandar-investment-provides-access-opens-doors-for-tech-startups-through-matchmedini-pitching-program/", "page": 28, "title": "Malaysia\u2019s Iskandar Investment provides funding access, opens doors for tech startups through Match@Medini pitching program", "contents": "Editor\u2019s note: Iskandar Investment BhdThe collaboration aims to revolutionize the start-up ecosystem, promote sustainable innovation and unlock investment opportunities. It reinforces Iskandar Investment\u2019s position as a digital innovation hub and align with Malaysia sovereign fund \u201cWe are proud to host the Match@Medini platform which provides a comprehensive ecosystem where start-ups can interact with venture capitalists, investors, and other key stakeholders. Joining forces with DHL and Thought for Food in this strategic collaboration marks a significant milestone in our efforts to drive digital innovation and foster entrepreneurial growth. This platform also sets to give the start-ups access to funding including from the Khazanah Dana Impak,\u201d Iskandar Investment President & Chief Executive Officer Idzham Mohd Hashim said. \u201cThe start-ups must establish their presence in Medini and availing themselves to the supportive resources provided by Iskandar Investment. They can position themselves for accelerated growth and seize the numerous opportunities available within Medini Iskandar Malaysia. Through the Match@Medini platform, Iskandar Investment would be able to further establish the Net Zero Carbon Central Business District (CBD) in Medini, to further demonstrate our commitment to sustainability and innovation,\u201d he added. At Match@Medini, a pilot program under the TechMedini initiative, 20 tech startups from Malaysia and overseas have the opportunity to pitch their groundbreaking ideas to local and regional investors. The event on Tuesday also witnessed the presence of 22 venture capital firms, funding partners, corporations, and government agencies including Malaysia Digital Economy Malaysia (MDEC), Malaysia Research Accelerator for Technology and Innovation (MRANTI), Cradle Fund, Gobi Partners, Genesis Ventures, Vynn Capital, The Hive Southeast Asia, RHL Ventures, Johor Corporation, among others. Iskandar Investment said it will be the bridge between Malaysian start-ups and local and regional investors to facilitate access to fundings. Among them is Khazanah Nasional. Through its Future Malaysia Program, the sovereign wealth fund has committed MYR6 billion ($1.29 billion) over five years as part of its \u2018Dana Impak\u2019 mandate, a key pillar of the Advancing Malaysia strategy. According to a statement on Thursday, an initial amount of approximately MYR180 million has been deployed by Khazanah through its Future Malaysia Program to support the local start-up ecosystem by working with established local and international venture capital managers as well as corporate venture programs based in Malaysia. Themed \u201cFood Logistics Innovation\u201d, the pitching event on Tuesday also saw the attendance of Penjana Kapital, an MYR600 million ($129 million) VC fund-of-funds under the Ministry of Finance of Malaysia. Penjana Kapital has commended the effort by Iskandar Investment to showcase investment opportunities outside of Klang Valley, particularly in Johor. Other investors also expressed their enthusiasm for the showcased ideas, underscoring the significant interest in the entrepreneurial landscape. The collaboration between Iskandar Investment, DHL and Thought for Food is a testament to their shared vision of driving digital transformation, fostering sustainable innovation, and contributing to the economic growth of the start-up ecosystem. Together, these organizations are poised to empower start-ups, stimulate economic progress, and realize Malaysia\u2019s digital potential. By bringing together all key stakeholders in the tech sectors, Iskandar Investment aims to foster strategic partnerships and build a strong funding ecosystem. \u201cWe are grateful and excited to announce that our startup has managed to gain access to funding for our business, via the Match@Medini initiative. This will serve as a catalyst for our growth and propel us towards new horizons. Together with our dedicated team, passionate stakeholders, and the backing of our investors, we are confident that this will take us to greater heights,\u201d Greenbugs spokesperson Ang Ker Soon said. Greenbugs is a health food business that set up in Medini. Besides Greenbugs, startups that attended the pitching session include robotics firm Sai Robotics Enterprise, agritech firm Ripe, biotech firm GreenCop, Medtech company \u201cWe did enjoy the event and we think more of such pitching sessions should be held. It\u2019s always good to know how other startups are doing and the event helps us to expand [our] network. The startup ecosystem will become stronger as well,\u201d GreenCop Co-Founder and Project Director Sng Yee Ching told Iskandar Investment, a majority-owned investee company of Khazanah, is committed to building an inclusive and sustainable metropolis of the future in Iskandar Puteri, Johor, Malaysia. The company also plays a crucial role in transforming Iskandar Malaysia into a renowned regional metropolis. Established in November 2006, Iskandar Investment focuses on catalytic projects to enhance Iskandar Malaysia\u2019s appeal as an investment destination. It concentrates on developing Iskandar Puteri in sectors such as education, creative industries, tourism, leisure, and health and wellness. Notable achievements of Iskandar Investment include successful partnerships in projects like EduCity, LEGOLAND\u00ae Malaysia Resort, Iskandar Puteri, Medini, and other infrastructure developments under the 9th Malaysia Plan. Iskandar Investment is committed to promoting sustainable growth and inclusive development in Iskandar Malaysia, creating employment and income opportunities for the local community. Iskandar Malaysia is a special economic zone located in the southern part of Johor, Malaysia. The Iskandar Malaysia zone, three times bigger than Singapore, is expected to be Malaysia\u2019s largest economic zone upon completion in 2025. The government expects it to create 800,000 jobs and attract around $100 billion in investment over 25 years, according to earlier reports. MYStartup partners Maxis, Petronas, Cyberview and airasia academy to support Malaysian startups"}, {"url": "https://technode.global/2023/06/21/mystartup-partners-maxis-petronas-cyberview-and-airasia-academy-to-support-malaysian-startups/", "page": 28, "title": "MYStartup partners Maxis, Petronas, Cyberview and airasia academy to support Malaysian startups", "contents": "MYStartupMYStartup said in a statement on Wednesday that it has inked strategic partnerships with the companies. It said the collaborations with these companies mark a significant milestone in developing the local startup ecosystem, paving the way for exponential growth as it nurtures a culture of innovation in Malaysia. As part of MYStartup\u2019s efforts in building up and strengthening the Malaysian startup ecosystem, major corporations have been identified as strategic partners to ensure the ecosystem\u2019s holistic growth. The series of Memoranda of Understanding (MoUs) were signed since early 2022 as MYStartup reaffirms its commitment to providing a platform for entrepreneurs and startups to grow and scale. MYStartup said that these dynamic and impactful partnerships will not only enrich the funding landscape in the country but will also open doors for the ecosystem to thrive regionally and globally. Ahmad Kashfi Alwi, Senior Vice President, Ecosystem Development, Cradle, said the collaborations with the companies signify a collective commitment to fostering the growth and success of startups in Malaysia. \u201cBy leveraging each partner\u2019s expertise, resources and networks, we can create an enabling environment where startups can thrive, innovate, and make a lasting impact,\u201d he added. According to the statement, collaborating with Maxis provides startups with opportunities to engage in Maxis-organized programs and engagements, fostering potential commercial partnerships and project developments. Moreover, startups participating in the MYStartup Accelerator Program will have the chance to connect with Maxis for future business and potential funding opportunities. Startups in the emerging fields such as artificial intelligence, machine learning, smart city and education\u201cWe are excited about the partnership with MYStartup, which aligns with our commitment to supporting innovation and driving digital transformation in business across Malaysia,\u201cThrough this collaboration, we aim to foster a vibrant startup ecosystem, nurturing the next generation of entrepreneurs and contributing to the nation\u2019s digital economy,\u201d said Loh Keh Jiat, Chief Marketing Officer, Maxis. Meanwhile, the partnership with Petronas opens up opportunities for startups in Malaysia to access their go-to-market platform via the Petronas FutureTech Accelerator Program, allowing them to achieve improved funding and investment opportunities and any technology acquired. Furthermore, the MoU signed also raises potential for startups in the MYStartup ecosystem to collaborate with corporate partners under the Petronas FutureTech 3.0 program, such as Tenaga Nasional Berhad (TNB), DRB-HICOM, Gentari, Khazanah Nasional, Sembcorp, Hyundai Motor Company and Vitol, in addition to benefitting from potential investments of the local and regional venture capital firms. \u201cAs a catalyst for progress, we at Petronas are constantly finding ways to support the growth of startups in Malaysia,\u201d said Arni Laily Anwarrudin, Head of Petronas Ventures. According to her, the firm\u2019s partnership with MYStartup is the perfect example of this. \u201cWe believe that by working together, we can create a conducive environment for startups to thrive while driving technology adoption and business transformation,\u201d she added. Cyberview, the force behind Cyberjaya\u2019s rapid development, also offers various perks and benefits to the startups under the new partnership. These include special rental rates within Cyberjaya premises, and as access to various opportunities for business growth and expansion. On top of MYStartup\u2019s platform facilitating networks and connections with potential investors and business partners, through Cradle and Cyberview, startups will also be able to connect with angel investors from the Malaysian Business Angel Network (MBAN), opening doors for potential funding opportunities. Started in December 2022, MYStartup\u2019s partnership with airasia academy will also make knowledge and education fundamentals more accessible to its startup community, helping entrepreneurs and startups accelerate their upskilling efforts through accessible guided learning content. Through airasia academy\u2019s on-demand learning programs, startups will gain access to learning content that were designed to accelerate their growth. The instructor-led training courses also offer certification modules covering crucial areas such as Digital Marketing, Cybersecurity and Software Engineering. This partnership empowers startups with the knowledge and skills necessary to thrive in today\u2019s competitive landscape. MYStartup Strategy consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia. Among them are the MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. The programs aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and have the opportunity to highlight their company profile to attract foreign investors. The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. This effort is also in tandem with MOSTI\u2019s target of creating 5,000 start-ups and producing five unicorn-status companies by 2025. Malaysian government launches MYStartup NXT to create sustainable startup ecosystem"}, {"url": "https://technode.global/2023/06/21/funding-societies-introduces-shariah-compliant-guaranteed-islamic-investment-note-in-malaysia/", "page": 28, "title": "Funding Societies introduces Shariah-compliant Guaranteed Islamic Investment Note in Malaysia", "contents": "Following the launch of its comprehensive Islamic financing solutions recently, This new offering provides investors with an opportunity to diversify their portfolios through short-term, Shariah-compliant investment notes, Funding Societies said in a statement on Wednesday. Cited the Securities Commission\u2019s 2022 Annual Report, it said that MYR 368.13 million ($79.19 million) out of MYR 1.7 billion ($370 million) was raised via Shariah-compliant investments on peer-to-peer (P2P) or SME digital financing and equity crowdfunding (ECF) platforms. With the growth potential in this sector, it said fintech players have been identified as key enablers for innovative solutions in the halal economy and Islamic social finance. By introducing Shariah-compliant options for both SMEs and investors, Funding Societies said it aims to contribute to the development of the Islamic capital market ecosystem as envisioned by the Securities Commission. \u201cWe are proud to introduce our first-ever Shariah-compliant guaranteed investment product on the heels of our comprehensive SME Islamic financing solutions launch in May,\u201cInvestors now have the opportunity to diversify their portfolios with Shariah-compliant guaranteed investments which, in turn, helps close the MYR 90 billion ($19.36 billion) SME financing gap by supporting Malaysian SMEs to grow and expand their business,\u201d said Chai Kien Poon, Country Head, Funding Societies Malaysia. As an SME digital finance platform, Funding Societies provides financing to micro, small, and medium enterprises (MSMEs) through investment notes funded by retail, high-net-worth, and institutional investors. Payments from MSMEs, including both principal and returns, are collected by the platform and distributed to investors according to the agreed schedule, which can extend up to 24 months. Funding Societies has disbursed over MYR 2 billion ($430 million) in financing in Malaysia since its inception in 2017, offering MSMEs a hassle-free capital solution. With no collateral requirement and quick disbursement turnaround time, MSMEs, including aspiring young entrepreneurs and those from disadvantaged backgrounds, can obtain the necessary funding to expand their businesses and increase their income. \u201cIn addition to providing accessible financing to creditworthy underserved SMEs, we have set a low minimum investment amount for our investors, \u201cStarting from just MYR 100 ($21.51) per note, investors can enjoy guaranteed gross returns of up to 8 percent per annum,\u201d said Chai. The GN-i follows commodity murabahah principles through a Tawarruq arrangement, combined with a kafalah (guarantee) contract. In the event of SME default, the guaranteeing entity assumes the payment obligations and compensates the investors accordingly. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. The firm is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. In eight years, Funding Societies has helped finance over 5.1 million business deals close to MYR 14 billion ($3.01 billion) in funding. Funding Societies partners CGC to launch SME Portfolio Guarantee to improve Malaysian SMEs digital financing access"}, {"url": "https://technode.global/2023/06/19/carro-invests-in-malaysian-content-provider-driven-communications/", "page": 28, "title": "Carro invests in Malaysian automobile content provider Driven Communications", "contents": "CarroCarro said in a statement that Driven Communications comprises a portfolio of websites including paultan. org (automotive review and news vertical content), carbase. my (buyer\u2019s guide) and oto. my (used car classifieds). According to the statement, paultan. org is amongst the first and the largest independent automotive review website in Malaysia, drawing monthly active visits of up to 6 million traffic organically and regularly ranks as the top most visited automotive website nationwide. With an emphasis on independent reviews and editorials, it said paultan. org has grown to be a household brand with a huge loyal following. As part of the investment, Driven Communications co-Chief Executive Officers (CEOs) Paul Tan and Harvinder Singh will continue to helm the business. The board of directors will remain unchanged and employees will be assured continued employment. Driven Communications will also continue to have complete autonomy over its editorial direction and decisions. The investment is expected to be completed within two months. \u201cWe welcome Carro\u2019s strategic investment and our shared vision of a better, digitalized, transparent automotive used car ecosystem,\u201d said Paul Tan, Founder and co-CEO of Driven Communications. Like many businesses, he said Driven Communications suffered financially during COVID-19. \u201cWe are thankful for Carro\u2019s future support that will protect our sites that loyal fans have come to love, save jobs and ensure continued independent reviews,\u201d he added. Harvinder Singh, co-CEO of Driven Communications, said the firm is thrilled to know that Carro respects its editorial independence, its work with its customers and encourages them to charge arm\u2019s-length commercial charges to Carro group of companies. \u201cWith this investment, we are looking forward to achieving profitability and growth beyond Malaysia,\u201d he added. Aaron Tan, Co-Founder and Chief Executive Officer of Carro, said the firm has been working with Driven Communications for nearly two years. \u201cThey helped us launch our first myTukar Autofair in Malaysia and their digital online reach was incredible. Feedback from other automotive participants has been amazing; original equipment manufacturer (OEMS) and end-customers alike rely on them, \u201cIt would be a shame that it does not have the right resources and tools to scale higher,\u201d he added. Strategically, this investment is also a proactive move to promote openness and independence. Recent acquisitions of automotive classifieds and sites by fellow industry players have resulted in multiple dealers/platforms being blocked. This stifles healthy competition and customer access across the region, and Carro hopes to change. \u201cWe are believer that classifieds and other services under Driven Communications should continue to be made available to their existing clientele, as well as our customers, dealers and competitors \u2013 a move we hope all classifieds emulate, given the Malaysian government initiative to break down monopolies and anti-competitive behavior,\u201d Aaron Tan said.  He said the firm also strongly supports its role to freely shape industry awareness and disseminate relevant information that will benefit end-customers and the industry, underpinned by facts and professional journalism. \u201cWe aim to maintain a non-controlling stake and welcome other industry participants to jointly invest and support Driven Communications continued growth,\u201d he added. Ernest Chew, Chief Financial Officer of Carro, said the firm\u2019s investment and support gives Driven Communications room to achieve immediate positive net income, putting them on a stable financial standalone footing with strong earnings growth potential. \u201cWe believe it has the makings of a financially attractive investment for new investors,\u201d he added. Founded in 2015, Carro is Southeast Asia\u2019s largest used car marketplace. By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, artificial intelligence (AI)-enabled capabilities, and innovative technological solutions. Carro holds a strong presence in key markets across Asia Pacific, including Malaysia, Indonesia, and Thailand, and has recently expanded its reach to Japan and Taiwan. The unicorn startup is supported by more than 4,500 employees across Asia-Pacific and has raised over $1 billion in debt and equity from Temasek, Softbank Vision Fund and several other sovereign funds. Incorporated in 2008, Driven Communications is an integrated digital content and marketing services agency with a focus on the automotive industry. Driven Communications also offers specialized marketing services for automotive brands including event management, digital solutions, photography and videography services. Carro and Jardine Cycle & Carriage ink $60M automotive strategic partnership"}, {"url": "https://technode.global/2023/06/19/malaysia-announces-measures-to-boost-capital-market-vibrancy-and-competitiveness/", "page": 28, "title": "Malaysia announces measures to boost capital market vibrancy and competitiveness", "contents": "Malaysia has on Monday announced several measures to boost capital market vibrancy and competitiveness. The capital market regulators said in a statement that they  commit to explore ways to reduce market friction and shorten time-to-market for initial public offerings. To widen the pool of investors, the Ministry of Finance (MOF) and Securities Commission Malaysia (SC) will also look at policies to facilitate and attract the setting up of family offices in Malaysia; to promote corporate venturing to drive greater domestic direct investment through more facilitative tax and incentive policies; and to widen the definition of sophisticated investors to include angel investors. The measures announced including a reduction of the stamp duty rate for the trading of listed shares on Bursa Malaysia from 0.15 percent to 0.10 percent, while the stamp duty cap is maintained at MYR 1,000 ($216) for each contract. This change, which take effect in July, will directly lower the cost of transactions, especially for retail investors, who are particularly sensitive to costs. According to the statement, the short-term and medium-term measures address three key pillars essential to the growth and development of the capital market in Malaysia: creating market vibrancy with greater participation opportunities for the Malaysians; attracting larger pool of investors to support financing for small, medium enterprises and new economy companies; and enhancing Malaysia\u2019s competitiveness to strengthen market confidence. \u201cThe SC\u2019s commitment to maintain the capital market\u2019s resilience and competitiveness is of the utmost priority,\u201d said SC Chairman Awang Adek Hussin. According to him, the capital market initiatives announced will boost greater trading participation and access to financing in the market, encouraging the growth of innovative companies and fostering greater diversity and inclusivity in the industry. \u201cWe aim to empower issuers and investors by creating a business-friendly environment through relevant support and incentives,\u201cThe SC is optimistic that these efforts will create a more vibrant capital market to drive economic growth in the country,\u201d he added. Bursa Malaysia Chief Executive Officer Muhamad Umar Swift also said the stock exchange is confident that the proposed measures, along with the existing development initiatives, will stimulate market activity and create a more dynamic and liquid market environment. \u201cA liquid and strong performing capital market has tremendous benefits to numerous stakeholders, and the economy as a whole,More importantly, the measures will widen affordable investment choices for the Malaysians, and deepen investor interest in our market, leading to Bursa Malaysia being a destination of choice for fundraising,\u201d he said. According to him, the multi-pronged measures by the Malaysian government and market regulators reflect the intent to create a conducive environment for a thriving capital market, recognizing the pivotal role played by a well-functioning capital market in fostering robust economic growth. \u201cThe capital market regulators reinforced their commitment to ensure that the capital market is competitive and vibrant, while supporting the economic needs of Malaysia,\u201d he added. The SC and Bursa Malaysia said they will continue to work closely with the the MOF, industry partners and other relevant bodies to explore further holistic measures towards ensuring an inclusive and sustainable capital market. Securities Commission Malaysia revises venture capital and private equity framework"}, {"url": "https://technode.global/2023/06/19/worq-on-track-to-double-total-space-under-management-to-200000-sqf-by-year-end/", "page": 28, "title": "WORQ on track to double total space under management to 200,000 sqf by year end", "contents": "WORQIts Co-Founder and Chief Executive Officer Stephanie Ping said in a statement that building on the strength of the firm\u2019s proven business model, WORQ is steadily progressing with its expansion strategy. With its current asset-light strategy, WORQ said it has established successful partnerships with real estate firms to repurpose underutilized office spaces into their distinctive coworking solutions equipped with state-of-the-art amenities and a comprehensive platform offering a range of supplementary services for enterprise, small and medium-size enterprise (SME) and startup clients. It is noted that since its inception in 2017, WORQ has successfully launched six new outlets and maintained profitability even during the challenging pandemic period. Meanwhile, the firm has on Monday launched WORQ Express on Pulau Perhentian, Malaysia, a revolutionary mobility solution that enables professionals and digital nomads to work flexibly from anywhere, by reducing commuting time and boosting productivity. According to WORQ, this collaboration with Alunan Perhentian Sdn Bhd (Alunan Resort) signifies its dedication to transforming the coworking landscape by offering self service workspaces and meeting rooms to cater to the evolving needs of remote workers. The collaboration also demonstrates WORQ\u2019s unique strength in partnering with property developers to transform and unlock the potential of underutilized spaces across various property types, including hotels, office buildings, shopping malls and residences. WORQ said the firm has ambitious plans to extend the convenience and flexibility of WORQ Express to multiple locations across Malaysia. With a strategic focus on untapped markets, WORQ aims to establish WORQ Express in high-traffic areas such as shopping malls, train stations and airports, providing professionals with accessible and flexible workspace options. WORQ said the firm is committed to creating an extensive network of workspaces that redefine the concept of work, empowering individuals to be productive wherever they may be. Being the brand\u2019s first outlet outside of central Malaysia, this coworking space in partnership with Alunan Resort, occupies two rooms, with a meeting room and a hot desk area that operates 24/7. Guests can easily utilize the space on-demand, with a unique access code generated upon booking through WORQ\u2019s system. Ping said the launch of WORQ Express at Alunan Resort signifying the firm\u2019s foray into reutilizing and unlocking the potential value of spaces across various property types. With WORQ Express, she said the firm is introducing mobility solutions that not only reduce commute time but also enhance productivity. Cited a study by Cisco (2022), she said the majority of employees in Malaysia (68.1 percent) reported saving over four hours of commute time per week by embracing hybrid work\u201cThis is just the beginning, as we have ambitious plans to roll out WORQ Express across Malaysia, empowering individuals to work flexibly and efficiently from anywhere,\u201d she added. According to the statement, WORQ Express offers workers the ultimate freedom to be productive on the go. It provides a range of creative and collaborative spaces with high speed internet and meeting room amenities, designed to meet the diverse needs of professionals and digital nomads. The spaces offer ideal environments for small group meetings or discussions, featuring vibrant and collaborative spaces. Additionally, quiet zones are available for private work or important virtual meetings, ensuring professionals have a peaceful and productive space to focus on their tasks. Enhancing work-life balance and overall well-being WORQ Express plays a significant role in fostering work-life balance and enhancing overall well-being for individuals. With its flexible workspaces accessible from anywhere, WORQ Express enables professionals to prioritize personal activities, resulting in a seamless integration of work and personal life. Cited Cisco study, WORQ highlighted the positive impact of hybrid working, with 79.3 percent of Malaysian employees experiencing an improvement in their overall well-being and 86.2 percent reporting increased happiness. \u201cWe firmly believe in the concept of a \u2018work + meaningful holiday\u2019 experience and our collaboration with WORQ takes it to the next level. \u201d said Sany Ismail, Co-Founder of Alunan Resort. Malaysian PropTech firm LiveIn acquires property management firm KT Management"}, {"url": "https://technode.global/2023/06/19/mranti-ceo-dzuleira-abu-bakar-resigns-after-4-5-years-services/", "page": 28, "title": "MRANTI CEO Dzuleira Abu Bakar resigns after 4.5 years of service", "contents": "The Board of Directors (Board) of the MRANTI said in a statement that Dzuleira has decided to pursue other career opportunities although her contract was renewed early this year. It noted that Dzuleira will continue to serve at MRANTI until early September. Dzuleira was first appointed the CEO of Malaysian Global Innovation and Creativity Center (MaGIC) and subsequently appointed the CEO of Technology Park Malaysia (TPM) to lead the merger of MaGIC and TPM, which resulted in the incorporation of MRANTI. This was part of the government\u2019s larger efforts to restructure and consolidate its agencies to ensure that they are well positioned to execute the National Science, Technology and Innovation Policy (DSTIN) and the Malaysian Science Technology Innovation and Economic Development Framework (MySTIE 10-10). The MRANTI Board of Directors said they recognizes Dzuleira\u2019s dedication, outstanding leadership and invaluable contribution over the years. They said that during this time, she has effectively raised the visibility and value of Malaysian technology and innovation by addressing societal and sectoral issues locally and globally. They said that within several months of taking office, Dzuleira spearheaded the launch of the MRANTI Park Master Plan \u2013 an integrated and comprehensive approach to develop a  Fourth Industrial Revolution (4IR) hub from prime real-estate. The MasterPlan aims to achieve a gross development value of MYR 20 billion ($4.32 billion), MYR 2.8 billion ($610 million) in land lease, as well as create 8,000 jobs by 2027. To date MRANTI Park has secured MYR 1.12 billion ($240 million) in land lease value and a total of 132.56 acres for new land sub-lease, an increase of 250 percent and 112 percent respectively since her entry. Under her leadership, Dzuleira also founded several facilities within the Park to support innovators at various stages of the life cycle. This includes a 5,000 square feet MakersLab for prototyping, a 5-acre drone centre of excellence, an Autonomous Vehicle Living Lab for live environment testing, 10-acre integrated healthcare cluster and 5G Experience Centre which serves as a national testbed for 5G innovation and enterprise-grade proof of concepts. It is also noted that Dzuleira is a strong advocate in Malaysia\u2019s drone tech ecosystem. MRANTI through MOSTI is the lead coordinating agency for the Malaysian Drone Technology Action Plan 2022-2030 (MDTAP30), a national initiative to support the drone ecosystem. Malaysia\u2019s drone industry is ranked 21st in the global Drone Readiness Index, up from the 30th spot and ranking higherThis puts the drone industry in Malaysia on a clear growth trajectory with the potential to contribute MYR 50.71 billion ($10.97 billion) to the country\u2019s gross domestic product (GDP) and create 100,000 job opportunities by 2030. This an early outcome of the MDTAP30 and other initiatives which involve strong collaboration by multiple agencies and stakeholders. During her tenure, MRANTI was appointed as lead secretariat for the National Technology and Innovation Sandbox (NTIS), leading to 24 commercializations, generating MYR 51.8 million ($11.2 million) in sales revenue. MRANTI was also tasked to run key national programs such as Program Penggunaan Barangan dan Perkhidmatan Hasil R&D Tempatan Melalui Perolehan Kerajaan (MySTI), Malaysia Commercialisation Year Summit 2023 and Malaysia Techlympics 2022. \u201cHaving established the core pillars of talent, infrastructure, operational systems and processes as well as our strategic plan, I believe MRANTI can now advance in creating new socio-economic value through the commercialisation of research and development (R&D), which will strengthen the country\u2019s trajectory to become a high-income, high technology nation,\u201cI am committed to ensuring a seamless transition before my departure and to ensure the track is well-laid for MRANTI\u2019s continued contribution and growth,\u201d said Dzuleira. In the meantime, a management committee will be activated as part of the transition plan to oversee the agency\u2019s operations during the process of appointing a new CEO. Programs and projects in MRANTI\u2019s pipeline will progress as planned, with the respective management team heads ensuring their successful implementation. MRANTI invites high growth Malaysian startups for global expansion"}, {"url": "https://technode.global/2023/06/19/carsome-completes-latest-financing-round-bringing-liquidity-position-to-200m/", "page": 28, "title": "Carsome completes latest financing round, bringing liquidity position to $200M", "contents": "Malaysia-based integrated car e-commerce platform Cementing confidence in Carsome\u2019s profitability targets and new ecosystem initiatives, this funding round saw broad-based participation from Carsome\u2019s existing investors, including 65 Equity Partners, Seatown Private Capital Master Fund, Qatar Investment Authority, Gobi Partners, and Asia Partners, Carsome said in a statement. According to the statement, the funding also attracted a long-term debt facility from a new investor, EvolutionX Debt Capital (EvolutionX), a growth-stage debt financing platform that provides an alternative source of financing to technology companies in Asia. It is noted that in 2022, the group\u2019s revenue grew 250 percent to $1.5 billion, with the newly established regional retail line Carsome Certified contributing 35 percent of total revenue. In the first quarter this year, Carsome hits an operational profitability milestone for the first time on the back of significant growth in trade margin, which doubled compared to the same period last year. Notably, more than 80 percent of the trade margin came from transaction margins, leaving a huge potential upside for ancillary revenue, especially given its increasing focus on ecosystem offerings, including financing, insurance, and aftersales. Carsome Service Centers (CSC), as an example of after-sales offerings, have seen more than 100 percent month-over-month growth since its launch at the end of last year and are expected to reach nationwide coverage in Malaysia by the end of the third quarter of 2023. The group today owns the largest auto digital audience footprint of more than 15 million monthly active users through its content and media ecosystem, including theIn addition to achieving over 30 percent growth in revenue and reaching profitability as independent business units of the group, Carsome\u2019s ecosystem companies have also contributed to a 60 percent reduction in the group\u2019s customer acquisition cost. The ability to unify data across the entire ecosystem enables Carsome to offer personalized experiences and focus on customer centricity, as validated by its customer satisfaction metrics. As of the first quarter of 2023, its retail line, Carsome Certified, holds a high net promoter score (NPS) of 77 points within the used car industry. In parallel, the group\u2019s wholesale business garnered an NPS of 75 points, further affirming customer trust and satisfaction. Built upon the wealth of data and understanding of customers, the launch of MyGarage as an anchor feature of the Carsome App sets the foundation for the next level of personalization that further elevates the car ownership experience for customers. MyGarage acts as a comprehensive hub today, offering real-time car valuations, service bookings, and sales inspections, and it will continue to integrate ancillary services, including financing, insurance, and aftersales. MyGarage marks a major step in pursuing the group\u2019s mission: to provide its customers with peace of mind throughout the entire lifecycle of their ownership experience. \u201cWe have spent the last eight years building a more trusted way for customers to transact within Southeast Asia\u2019s used car industry, \u201cOur comfortable liquidity position and strong backing from both existing and new investors place us on solid footing to deliver the world\u2019s first integrated car ownership ecosystem, going beyond just buying and selling cars to include ancillary services across the whole ownership lifecycle,\u201d said Carsome\u2019s Co-Founder and Group Chief Executive Officer Eric Cheng. Meanwhile, Carsome\u2019s Group President and Chief Financial Officer Juliet Zhu said that Profitability is just one of the milestones in the group\u2019s long-term capital planning. \u201cWe will continue to invite the right partners who can add strategic value at different stages of our growth,\u201d he said. It is noted that EvolutionX\u2019s investment in Carsome marks its first in Southeast Asia. \u201cWe remain focused in supporting category-leading technology companies in our core markets in Asia which are backed by reputed long-term investors, \u201cWe are excited by Carsome\u2019s continued focus towards achieving profitability during this year and believe that this collective capital raise will optimize its capital structure and improve the financial strength of the company to support its continued journey towards sustainable profitable growth,\u201d said Rahul Shah, Partner of EvolutionX. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, the firm aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with subsidiary brands iCar Asia, WapCar and CarTimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from carCarsome currently has more than 4,000 employees across all its offices in Asia. It is noted that the firm has been actively reshaping Southeast Asia\u2019s used car industry through its innovative data and tech-driven approaches, offering trust, transparency, and choice to elevate the automotive ownership experience. Carsome said the firm stands firmly poised for an exciting next chapter in its growth journey, having sold over 150,000 cars annually and serving more than 15 million unique customers monthly across its diverse online and offline channels in the region. Carsome refutes funding bid from government; says its liquidity position remains robust at over $150M"}, {"url": "https://technode.global/2023/06/19/malaysia-has-potential-to-make-information-technology-part-of-mainstream-economy-says-comms-minister/", "page": 29, "title": "Malaysia has potential to make Information Technology part of mainstream economy, says Comms Minister", "contents": "Malaysia has the potential to turn information technology into part of its mainstream economy, according to Communications and Digital Minister Fahmi Fadzil. This is based on current developments that have seendata technology industry players being attracted to invest in the country, he said during a radio interview. \u201cIn the past six, seven months, Malaysia has become an investment destination for data processing centers and this enables us to have a superhighway for data. \u201cThe issue is when we have a superhighway for this data processing, what can we generate in terms of economy, what can companies in Malaysia do to spur economic growth?\u201d he said when interviewed byRadio Emashost Zaharah Othman during the recentLondon Tech Week. Last weekEquinix said that spurred by strong cloud growth and e-commerce adoption, as well as its continued investment in 5G, Malaysia is one of the fastest growing data center markets in the ASEAN region, with much of the development attributed to Johor and Kuala Lumpur. It was reported last month that US-based hyperscale data centre provider Vantage Data Centers will double down its commitment in Cyberjaya with an additional $3 billion investment to build a second data center campus. In a report published in AprilThe analyst said that the unity government under Prime Minister Anwar Ibrahim is committed to further accelerating digital adoption in the country, which augurs well for the domestic data center industry. According to the research house, the positive outlook of the data center sector is also supported by the New Investment Policy unveiled by the Ministry of International Trade and Industry (MITI) in Oct 2022, where the government is looking to boost economic complexity to spur high-value job opportunities. Aside from Amazon Web Services (AWS) and Microsoft, which have committed to setting up cloud regions in the country, it said the likes of global data center names such as GDS, Equinix, and Yondr Group are also pouring in significant capital to construct their maiden facilities in the country. Minister: country needs to be AI-readyOn a separate matter, Fahmi also said that Malaysia needs to be ready in terms of legal provisions and regulatory framework to ensure that artificial intelligence (AI) is safely used, as its use is growing more widespread. \u201cWe must prepare ourselves, especially in the field of AI, (such as) what are the regulatory frameworks, what laws dowe need to ensure AI is safe to use and beneficial (to us), so that it can help boost our productivity and economy,\u201d he added. Photo by: Yimie YongAnalyst sees Malaysia emerging as data center in Asia"}, {"url": "https://technode.global/2023/06/15/malaysia-secures-1-79b-investment-commitments-at-londontech-week-report/", "page": 29, "title": "Malaysia secures $1.79B investment commitments at London Tech Week \u2013 report", "contents": "Malaysia has secured MYR8.3 billion ($1.79 billion) worth of investment commitments in various digital technology sectors during the investment mission to London Tech Week 2023 led by Communications and Digital Minister Fahmi Fadzil. These investments are expected to create no fewer than 1,800 high-value jobs, the minister said at the signing of a memorandum of understanding (MoU) between Malaysia Digital Economy Corporation (MDEC) and the International Data Centre Authority (IDCA), national news agency MDEC will also be collaborating with the UK-ASEAN Business Council (UKABC) and the Commonwealth Enterprise and Investment Council. Sunway Group also signed an MoU with Wippd and other investment announcements were made by nine UK companies, including Access Group, Dataswyft, TPP, Activpayroll, Ekco, Yondr Group, GBG, Hamilton Barnes, and MMOB. Fahmi said this signifies the unwavering confidence of foreign investors in the robust framework of Malaysia Digital (MD), a national strategic initiative driving the digital economy, thus affirming that MD is on the right path towards achieving its objectives. As part of the mission, Fahmi has also conducted a roundtable session with esteemed business figures and executives to discuss the MD initiative. He is also scheduled to give a keynote speech titled \u201cOpportunities in Asean\u201d at London Tech Week 2023 on Tuesday evening and participate as panellist in the \u201cGlobal Tech Stage\u201d session, according to the report. Malaysia woos Microsoft, Google to bolster data hub ambitions \u2013 report"}, {"url": "https://technode.global/2023/06/14/malaysias-agmo-inks-mou-with-alibaba-cloud-for-ev-superapp/", "page": 29, "title": "Malaysia\u2019s Agmo inks MoU with Alibaba Cloud for EV superapp", "contents": "Malaysian digital solutions and application development specialist Agmo said in a bourse filing on Tuesday that both parties are evaluating and exploring potential business collaboration for the project in Malaysia. According to the filing, both companies have reached a mutual understanding to formalize the collaboration for the inaugural project in Malaysia, the Alibaba Cloud EMAS SuperApp Solution and the Agmo EV superapp. The parties also agree to support each other in terms of business development and marketing activities to promote the abovementioned projects. Agmo says it chooses Alibaba Cloud as one of its preferred service providers for cloud resources and products. It also says Agmo will leverage Alibaba Cloud\u2019s advanced technology and proven solutions such as the EMAS superapp solution to build its own EV app to provide a more intuitive and streamlined user experience by allowing users to use and remove a range of component tools (mini-apps) as needed. Under the MoU, both parties will explore the effective use and integration of each party\u2019s technologies into the respective solutions being developed and marketed by both parties. They will also work together in exchanging industrial knowledge and expertise to ensure the success of the collaboration and push forward the digitalization of the nation. The MoU will commence on June 13 and will remain in force until the earlier of one year, or the date the parties have entered into definitive agreement(s) which supersede this MoU. Listed in Malaysia, Agmo solutions involve digitalizing its customers\u2019 business operations through the development of mobile and web applications as well as provision of digital platform-based services. Alibaba Cloud was incorporated in Malaysia as a private company, and is in the business of providing cloud services including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and Internet of Things (IoT) services. Alibaba Cloud unveils plans to strengthen global partnership ecosystem"}, {"url": "https://technode.global/2023/06/14/nanomalaysia-partners-retailetics-to-launch-smart-shopping-cart/", "page": 29, "title": "NanoMalaysia partners Retailetics to launch smart shopping cart", "contents": "NanoMalaysia BerhadNanoMalaysia said in a statement on Tuesday that EzyCart is a technology developed by the firm in collaboration with Retailetics. According to the statement, EzyCart offers a personalized shopping experience and was developed based on feedback from shoppers and retailers. Following the successful launch of the prototype in 2022, the smart shopping cart EzyCart has now been equipped with software optimized for seamless data collection and analysis, and is entering the trial phase in several supermarkets, including Redtick Supermarket in Shaftsbury Putrajaya. It is noted that the development of AI technology in EzyCart utilizes advanced nano technology features, such as those found in the semiconductor sector, enabling faster processing. NanoMalaysia guarantees optimal cleanliness of the ezyCart trolleys by integrating nano-based antibacterial technology on the surrounding surfaces, ensuring they remain impeccably clean at all times. NanoMalaysia also highlighted that the rapidly growing smart cart market is experiencing exponential growth and attracting significant attention from investors and industry experts alike. Cited market researcher Research and Markets, it said the global market for smart shopping carts was estimated at $1.1 billion in 2021 and is anticipated to increase at a compound annual growth rate (CAGR) of 27 percent to reach $3 billion by 2025. \u201cIt is essential to contextualize the EzyCart project within the broader smart retail industry landscape,\u201d said Minister of Science, Technology and Innovation Chang Lih Kang. According to him, the revenue generated by smart retail shopping in the Asia Pacific region amounted to $8.38 billion in 2020, and is expected to soar beyond $25 billion by 2025, capturing a significant 70 percent market share of the global retail market. \u201cFurthermore, we anticipate a substantial growth trajectory within Malaysia\u2019s smart retail market, with expectations exceeding MYR 1 billion ($220 million) by 2025, \u201cThese figures highlight the immense potential and the pivotal role that Malaysia can play in shaping the future of the smart retail industry,\u201d he added. According to the statement, by incorporating Retailetic\u2019s expertise in e-wallet-based market development and cloud computing solutions, the ezyCart presents many benefits to consumers and retailers. It said shoppers can now revel in a convenient shopping journey with features such as a cart-mounted screen displaying product information, in-store promotions, and the option to make payments directly on the cart, eliminating the need for traditional checkout queues. \u201cThe EzyCart smart shopping carts feature a remarkable 3-Point product validation system, including a barcode scanner, weight/load validation, and advanced deep learning and sensor fusion technologies leveraging on latest processing semiconductor-based solutions powered by nanotechnology,\u201d NanoMalaysia Berhad Group Chief Executive Officer Dr Rezal Khairi Ahmad said. According to him, these cutting-edge features enable shoppers to effortlessly navigate stores, locate products, and enjoy a hassle-free checkout process, eliminating the need for long queues at cashier counters. He also said retailers can automatically identify and segment customers according to their demographics, providing profile-based rewards, messages, and notices per consumer. With profile, history, and list-based cross-selling and upselling, he said retailers can maximize revenue and enhance customer satisfaction. \u201cPlanned and instant promotions, aisle/shelf-based promotions, and advertising opportunities further amplify the advantages of integrating EzyCart into stores, \u201cThis disruptive innovation is our latest deployment stemming from REVOLUTIoNT which is the only 4th Industrial Revolution (4IR) technology development programme in Malaysia,\u201d he added. Meanwhile, Retailetics Sdn Bhd Co-Founder Manirajah Kulanthavelu said that with the ezList mobile app, consumers can efficiently plan their household shopping while retailers can access accurate hyperlocal demand through the ezRetail real-time dashboard. \u201cThe innovative ezCart SmartCart empowers stores to sell more efficiently and effectively, delivering a seamless in-store shopping experience,\u201d he said. It is noted that Redtick is the first supermarket chain in Malaysia to embrace intelligent shopping cart technology. \u201cCollaborating with innovative companies and institutions like Retailetics and NanoMalaysia offers a tremendous opportunity to transform our in-store operations,\u201d Redtick Supermarket co-founder Loh Kok Hin said. He noted that EzyCart enables the supermarket to provide its customers with an exceptional shopping experience, and this technology empowers the firm to sell more effectively, streamline its processes, and deliver a seamless in-store journey. \u201cBeing the first in Asia Pacific to deploy this technology gives us a significant advantage. We hope this technology will ultimately revolutionize the retail business in the region,\u201d he added. NanoMalaysia is a firm acting as a business entity entrusted with nanotechnology commercialization and industrialization activities through a venture builder model. The firm aims to provide efficient and enhanced solutions to various applications in smart living, smart manufacturing, agriculture, electronic devices, energy and the environment. Shopee survey shows new generation of Malaysians shop value-based online"}, {"url": "https://technode.global/2023/06/13/solarvest-announces-grant-recipient-winners-to-five-innovative-start-ups/", "page": 29, "title": "Solarvest announces grant recipient winners to five innovative start-ups", "contents": "Malaysian clean energy expert Solarvest said in a statement on Monday that Irradisol, Flumen, DespaQ, Hydrozon, and Hexacycle emerged as the five chosen recipients under the Seed Grant Round for SIL 2023. These selections were made from a pool of over 30 participants who applied following the launch of the program on February 15, 2023. SIL was established with the objective to cultivate, implement and commercialize local innovative business ideas in green technology (greentech), financial technology (fintech) and renewable energy (RE). The start-up program consists of two funding rounds. In the Seed Grant Round, selected candidates are provided with MYR 10,000 ($2164) to validate their business concept within six months. Following this, candidates with viable business ideas have the opportunity to progress into the Accelerator Funding Round, where they can potentially receive a minimum of MYR 100,000 ($21,638) in capital to execute their ideas within twelve months. \u201cOver the coming months, Solarvest, along with our program partners, Malaysia Digital Economy Corporation (MDEC), Telekom Malaysia Berhad, OCBC Bank (Malaysia) Berhad, Microsoft Malaysia Sdn Bhd, Pitch Platforms Sdn Bhd (pitchIN), Alta Group Malaysia and Common Ground Works Sdn Bhd (Common Ground) will provide extensive knowledge, expertise, and resources to support the development of these start-ups,\u201d Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Siong said. According to him, the firm\u2019s collaboration with partners from diverse fields will enrich the growth strategies of these start-ups and facilitate their path to market. He also noted that the recipients of the grant were carefully selected by the panel of judges based on the quality of entrepreneurship, viability of their proposed business propositions and potential to make a positive and meaningful impact on the environment. \u201cEach solution presented by the recipients stands out on its own, addressing unique challenges and offering distinct approaches,\u201cThese solutions tackle diverse environmental problems with innovative approaches, demonstrating high levels of creativity and problem-solving capabilities,\u201d he added. According to the statement, Irradisol specializes in the production of environmentally friendly solar photovoltaic (PV) products by utilizing sustainable materials. Instead of using conventional materials, Irradisol employs an innovative material derived from natural sources such as sugarcane. As a result, these materials can easily biodegrade, posing no risk of land, air, or water pollution when disposed of. Meanwhile, Flumen transforms wastes such as plastic and other biodegradable refuse, into a range of sustainable products with applications in the construction, agriculture, and wastewater management industries. The firm provides pre-cast building materials, which utilize recycled or upcycled plastic waste, as a cost-effective, durable, and lightweight alternative. Additionally, Flumen produces fertilizers derived from biodegradable waste, providing farms with an eco-friendly solution that reduces the need for harmful pesticides. DespaQ, on the other hand, is an advanced intelligent document processing platform designed to assist companies to minimize time and effort required for document processing. Founded by a team of experts in e-invoicing, the smart platform optimizes purchase-to-pay processes which enables businesses to streamline their document management workflows, improve efficiency, enhance productivity and enable them to focus on core operations. Simultaneously, Hydrozon provides RE solutions to urban high-rise buildings through micro-hydropower electric (microhydro) technology, a small-scale harnessing of energy from flowing water sources. Its product, Dischargy is installed in a building\u2019s rainwater downpipe, and utilizes the natural flow of water to generate electricity, which reduces greenhouse gas emissions. Hexacycle breeds and rears larvae of black soldier flies in state-of-the-art fly farms which efficiently upcycle organic waste like food scraps and agricultural residues. The larvae are supplied to local fish farms as an eco-friendly and highly nutritious feed, promoting a circular economy and preventing waste from ending up in landfills. Solarvest said the firm and its program partners are excited to support these start-ups as they embark on their entrepreneurial journey. It said the collective effort aims to drive innovation, promote sustainability, and foster positive change to make a lasting impact on the environment and pave the way for a more sustainable future. Solarvest which is listed in Malaysia, is a clean energy expert with a multi-national presence across Asia-Pacific. The firm started as a one-stop solar photovoltaic system solution provider for residential, commercial and industrial, and utility-scale solar farms. Today, the firm also owns renewable energy generation plants with a cumulative capacity of over 50MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Malaysia\u2019s Solarvest launches start-up program to encourage innovations in greentech, FinTech and renewable energy"}, {"url": "https://technode.global/2023/06/12/uss-equinix-plans-to-open-data-center-in-kuala-lumpur-in-fist-quarter-of-next-year/", "page": 29, "title": "NASDAQ-listed Equinix plans to open data center in KL in 1Q 2024", "contents": "American digital infrastructure company Equinix said in a statement on Sunday that spurred by strong cloud growth and e-commerce adoption, as well as its continued investment in 5G, Malaysia is one of the fastest growing data center markets in the ASEAN region, with much of the development attributed to Johor and Kuala Lumpur. It said Equinix\u2019s expansion is expected to provide greater digital infrastructure capacity in Malaysia to address rising demand from local and global companies expanding in the country. \u201cOver the past several years, we have witnessed Malaysia emerge as an increasingly strategic location for global digital infrastructure, and we believe it to be an attractive destination for data center growth and investment,\u201d said Jeremy Deutsch, President, Asia-Pacific, Equinix. He said that following the firm\u2019s initial investment in Johor, the firm is excited to add another data center in Kuala Lumpur. \u201cBy expanding Platform Equinix in the two most strategic metros in Malaysia, we will enable Malaysian businesses, as well as multinationals with a presence in Malaysia, to leverage a trusted platform to bring together and interconnect the foundational infrastructure to power their success,\u201d he said.  He also believes the two data centers will fuel Equinix\u2019s existing data center momentum and support Malaysia\u2019s aspirations as a digitally driven connectivity hub. As Malaysia enters Phase 2 of its MyDIGITAL blueprint for a digital economy, Equinix expect demand for digital infrastructure to remain robust. Cited Synergy Research, it said Malaysia is already the third largest data center colocation market in the ASEAN region, and is forecast to have a compound annual growth rate (CAGR) of approximately 11 percent from 2022 to 2027. With extensive global experience in supporting 5G development, it said Equinix\u2019s new facility aims to accelerate the digital vision laid out in the government\u2019s MyDIGITAL blueprint to establish Malaysia as a hub for colocation in ASEAN and a regional digital economic powerhouse. The new facility in Kuala Lumpur, named KL1, together with the recently announced JH1 in Johor, will also provide digital infrastructure that businesses need to capitalize on the country\u2019s digital economy, according to the statement. The KL1 IBX data center will be located in Cyberjaya within Kuala Lumpur. Cyberjaya is a key part of the Multimedia Super Corridor in Malaysia, a government-designated zone to promote and boost Malaysia\u2019s digital economy. Scheduled to open in the first quarter of 2024, the first phase of KL1 will provide an initial capacity of 450 cabinets and colocation space of 1,300 square meters. When fully built, it will provide a total of 900 cabinets and colocation space of 2,630 square meters. According to the statement, KL1 will enable global networks, content providers and enterprises to exchange high volumes of internet traffic via Equinix Internet Exchange. Through one of the world\u2019s largest global peering solutions at scale, internet service providers will have access to new digital corridors to exchange data directly with other internet service providers, participating in the flourishing digital economy and e-commerce landscape in ASEAN. Equinix said Malaysia has positioned itself as an attractive digital infrastructure and cloud services hub, providing additional capacity to meet neighboring Singapore\u2019s demand for digital infrastructure. With a strong leadership position in multicloud connectivity, it said KL1 and Equinix Fabric will enable customers to deploy their infrastructure to connect with the world\u2019s leading cloud service providers, including Alibaba Cloud, Amazon Web Services (AWS), Google Cloud and Microsoft Azure, safeguarding their business-critical data in a private and secure environment. In Asia-Pacific, Equinix currently operates 51 data centers in 13 metros across Australia, China, Hong Kong, India, Japan, Korea and Singapore, with expansions announced in Indonesia and Malaysia. \u201cEquinix\u2019s decision to expand its data center investment in Malaysia with locations in Johor and Kuala Lumpur demonstrates the company\u2019s confidence in Malaysia\u2019s potential as a top-tier data center destination,\u201d said Wira Arham Abdul Rahman, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA). According to him, the establishment of the two new data centers will play a pivotal role in accelerating the development of the nation\u2019s digital economy. He said that these data centers will act as catalysts for digital innovation, enabling businesses to harness the power of advanced technologies such as cloud computing, artificial intelligence and big data analytics. As the principal national promotion agency, he said MIDA remains committed to supporting Equinix\u2019s growth and success in Malaysia as we continue to propel Malaysia\u2019s digital economy to greater heights. Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer Mahadhir Aziz said that Equinix\u2019s investment and expansion propels Malaysia closer to its vision of firmly establishing the country as the digital hub of ASEAN. He noted that the Malaysia Digital (MD) national strategic initiative serves as a catalyst to revolutionize our digital capabilities, bolstering our value proposition to attract digital investments and propel the digital economy forward. He said the agency is committed to supporting Equinix\u2019s presence in Malaysia and to fostering the growth of the nation\u2019s data center industry through various PEMANGKIN initiatives. \u201cKL1 not only fortifies Malaysia\u2019s digital infrastructure but also accelerates our ongoing digital transformation,\u201cThis move signifies unwavering confidence in Malaysia\u2019s resilient and robust data center ecosystem, its digitally skilled talent pool, and world-class infrastructure,\u201d he added. US digital infrastructure firm Equinix enters Malaysia with $40M data center investment"}, {"url": "https://technode.global/2023/06/12/komarkcorp-partners-with-antchain-for-blockchain-services/", "page": 29, "title": "Komarkcorp partners with AntChain for digital blockchain services", "contents": "Malaysian self-adhesive label solutions provider Komarkcorp said in a statement on last Friday that its wholly-owned subsidiary Komark International (M) Sdn Bhd has signed a memorandum of understanding (MoU) with Ant Group Digital Technologies\u2019 unit AntChain for the services. According to the statement, this collaboration, combining Komark International\u2019s printing and labeling expertise with AntChain\u2019s blockchain powered traceability technology, will open new markets to address the growing consumer demand for traceability especially in safety sensitive industries such as food and beverage, and medical.  The companies are exploring a business collaboration and integrating traceability technologies provided by AntChain to secure labels, packaging, hologram stickers.  The scope of the MoU includes key industries such as food and beverage products, automotive products, medical devices, among others.   Both companies also agreed to join hands to explore opportunities in the digital segments related to labeling and packaging services. Blockchain technology is a decentralized and distributed ledger that allows for secure, transparent, and tamper-proof record keeping, making it an ideal tool for tracking the movement of products throughout the supply chain. The traceability would make it easier to identify and track any issues or irregularities in the supply chain.  According to Komarkcorp, the rationale for the MoU is to improve the business viability of Komark International\u2019s printing business by including AntChain\u2019s block chain traceability technology to ensure its product offerings remain relevant and attractive in current market conditions and requirements. Komark International was incorporated in Malaysia in January 1983. The firm is principally involved in manufacturing of self-adhesive labels. Komarkcorp which is listed on Malaysian boruse has three business divisions, namely, manufacturing of self adhesive labels and stickers and trading of related products; manufacturing of automatic labelling machinery, and; production of face masks. Its packaging solutions and self-adhesive labels is used by the chemical and agrochemical, food and beverage, home and personal care, industrial and lubricant oil, and pharmaceutical industries.  Incorporated in Singapore, AntChain is a service provider dedicated in innovative technologies, including but not limited to technologies in relation to blockchain, internet of things, data analytics and intelligent risk management. Ant Group Digital Technologies is a firm involved in blockchain, privacy computing, security technologies, and distributed database. Since 2015, Ant Group has been investing significantly in the research and development of blockchain technologies to strengthen transparency and build trust in industries that traditionally involve large numbers of participants and complex processes. Ant Group now has the largest productivity blockchain platform in China, with the ability to process and support one billion user accounts and one billion transactions every day. Malaysia, China explore blockchain technology for PCO to facilitate Malaysia\u2019s exports to China"}, {"url": "https://technode.global/2023/06/09/ni-hsin-inks-deal-with-koperasi-tenaga-dan-petroleum-to-promote-ev-motorcycles/", "page": 29, "title": "Ni Hsin inks deal with Koperasi Tenaga Dan Petroleum to promote EV motorcycles", "contents": "Malaysian stainless steel cookware manufacturer Ni Hsin said in a statement on Friday that its wholly-owned subsidiary Ni Hsin EV Tech Sdn. Bhd. (NH EV Tech) has entered into a business partnership agreement (BPA) with KTP to work together and form a partnership to promote, market and distribute TAILG EBIXON EV motorcycles and related products. Under the agreement, KTP will act as the marketing agent for TAILG EBIXON EV motorcycles and related products to KTP\u2019s members, and its business associates including conglomerates, cooperatives and government agencies. KTP will formulate the proposals and presentations, and shall, with approval from NH EV TECH, formulate promotional packages for the purpose of promoting and marketing TAILG EBIXON EV motorcycles and related products to its members. Meanwhile, NH EV Tech will give consent to KTP to use its logo in carrying out any promotional or marketing activities vide online social media platform and other related mediums for the purpose of marketing TAILG EBIXON EV motorcycles and related products. NH EV Tech will also responsible for all costs associated with the sales and delivery of TAILG EBIXON EV motorcycles to the customers including the after sales support and warranty of TAILG EBIXON EV motorcycles. The firm will also provide KTP with the standard operating procedure and process flow on the sales and delivery of TAILG EBIXON EV motorcycles to customers. In consideration of KTP\u2019s effort in marketing TAILG EBIXON EV motorcycles, NH EV Tech will pay to KTP an incentive for the sales achieved on monthly basis based on the schedule of incentive as outlined in the BPA.  For avoidance of doubt, the sales value for each transaction will be determined by the recommended retail price of each TAILG EBIXON EV motorcycle sold. The BPA will be valid for a term of three years from the date of the agreement. The BPA may be extended for a further term of one year upon the terms and conditions mutually agreed by the parties. Ni Hsin said the rationale of the BPA is for NH EV Tech to leverage on KTP\u2019s established network of clientele in the energy and utility sectors, to promote and market TAILG EBIXON EV motorcycles. The TailG e-bikes are imported from Tailing Electric Vehicle, Dongguan, China by Ni Hsin EV Tech and manufactured in its facility in Seri Kembangan, Selangor, Malaysia. NH EV Tech is in the business of manufacturing, assembling, promoting and marketing of all kinds of EV and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. Ni Hsin partners VSD Automation for EV motorcycles distribution"}, {"url": "https://technode.global/2023/06/09/carsome-refutes-funding-bid-from-government-says-its-liquidity-position-remains-robust-at-over-150m/", "page": 29, "title": "Carsome refutes funding bid from government; says its liquidity position remains robust at over $150M", "contents": "Malaysia-based integrated car e-commerce platform \u201cCarsome seeks to clarify a recent news report and affirm that it has not solicited nor petitioned the Ministry of Finance for funding,\u201d Carsome said in a statement on Thursday. According to the firm, it submitted a letter on March 27 in response to an engagement session with the Ministry of Finance to encourage and welcome the participation of Malaysian institutional investors in the company\u2019s growth journey. \u201cThe group frequently engages in discussions with various stakeholders on ecosystem building and in driving institutional engagements, \u201cAs part of these routine engagements, Carsome has always championed growth for the local start-up ecosystem which can positively contribute towards the nation\u2019s economy and enhance the nation\u2019s digital talent pool,\u201d it said. Carsome also emphasized that the group\u2019s liquidity position remains robust at over $150 million, offering the company sufficient runway beyond its break-even point, which the group expects to achieve well ahead of its targeted deadline. Carsome said it was among the first regional start-ups to commit to an accelerated profitability plan to prepare the Group for more disruptions and challenges in the funding markets. It also said this approach has borne fruit, delivering operational profitability as a group whilst enabling Carsome to beat internal targets for gross margin growth and productivity improvements as of the first quarter. It is noted that in 2022, the group grew 250 percent in revenue, with the newly established retail line Carsome Certified contributing 35 percent of total revenue. In the first quarter, the group also achieved its operational profitability milestone for the first time, primarily driven by a significant growth of trade margin, which doubled compared to the same period last year. Notably, more than 80 percent of the trade margin came from high-quality transaction margins, far ahead of most of its global peers. Among the highlights of its ecosystem strategy, its subsidiary iCar Asia Group has delivered an impressive 30 percent year-on-year revenue growth in the first quarter. In addition to achieving profitability on its own, the ecosystem strategy has also contributed significantly to the more than 60 percent reduction in customer acquisition cost of the group over the last twelve months. With the launch of the flagship Carsome Service Centres, the group said it has meaningfully integrated its products and services, from discovery to servicing, all within a single consumer app. This marks a major step in pursuing the group\u2019s mission: to provide its customers with peace of mind through the entire lifecycle of their ownership experience. Carsome said it is confidently poised for new opportunities in its markets across Malaysia, Indonesia, Thailand, and Singapore. It said the group has a pipeline of growth initiatives across its ecosystem and welcomes broader institutional support. \u201cAs we navigate a rapidly changing industry, Carsome has embraced adaptability and remained resilient, \u201cThrough our commitment to operational excellence and our customer-centric approach, we are grateful to have exceeded our expectations, achieving notable growth whilst pursuingAccording to him, the group\u2019s internal measures for operational excellence, driven by strong capabilities in data and technology, continue to yield gross margin improvements, team productivity, marketing efficiencies, and inventory management across its markets. \u201cCoupled with this, Carsome will take full advantage of its ecosystem strategy to redefine customer satisfaction in automotive ownership to serve its growing customer base and communities across Southeast Asia,\u201d he said. As the used car industry evolves rapidly, Carsome said its market share continues to be on an uptrend across its footprint. It said the firm remains to be one of the last few larger players in the used car e-commerce space in Southeast Asia. It said some of its competitors are reported to be exiting prime growth markets like Indonesia and Thailand, and other peers are pivoting into capital-intensive financing operations. It said Carsome\u2019s focus remains on solving the pain points in high stake, high-complexity transactions and providing the ultimate customer experience in automotive ownership. CARSOME is Southeast Asia\u2019s largest integrated car e commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, the firm aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with subsidiary brands iCar Asia, WapCar and CarTimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, ownership transfer to financing and other ancillary services. Carsome currently has more than 4,000 employees across all its offices in Asia. Breakeven is near for Malaysian unicorn Carsome, says CEO Eric Cheng"}, {"url": "https://technode.global/2023/06/08/sunway-and-uob-malaysia-ink-partnership-to-advance-net-zero-goal/", "page": 29, "title": "Sunway and UOB Malaysia ink partnership to advance net zero goal", "contents": "Sunway Group (Sunway)This collaboration will see Sunway and UOB Malaysia leveraging each other\u2019s strengths and expertise to integrate sustainable financing solutions, infrastructure and technologies into various business divisions across Sunway\u2019s ecosystem, including retail, hospitality, healthcare, property, construction and building materials, the duo said in a statement on Thursday. These include joint capacity-building programs and workshops to facilitate and to scale sustainability initiatives for tenants, lessees, and suppliers providing sustainability financing solutions to jumpstart investments into more sustainable infrastructure; as well as to address Scope 3 emissions. In addition, research on developments and most recent sustainability practices will also be shared between the two brands and applied, where relevant. \u201cThis MoU is a significant step forward for both Sunway and UOB Malaysia in our shared journey towards a low-carbon future, \u201cOur two-decade long partnership is testament to the role private sector players can play to advance the sustainability agenda together,\u201d said Sunway Group executive director Sarena Cheah. Since 2015, Sunway has fully embraced the 17 United Nations Sustainable Development Goals (UN-SDGs) and took its commitment to the sustainability agenda one step further last year with the introduction of an internal carbon pricing framework to drive progress towards net zero carbon emissions by 2050. Sunway is the first corporation in Malaysia, and among the first in Asia, to introduce such a robust carbon reduction strategy into its businesses. Similarly, as an early adopter of environmental, social and governance (ESG), UOB has developed comprehensive and market leading sustainable finance frameworks and solutions to help companies across ASEAN decarbonize and transition to net zero. \u201cUOB is honored to partner Sunway, a like-minded organization to drive our net zero ambitions together. Today\u2019s collaboration signifies the power of unity and the collaborative spirit that is required to make the change to a low-carbon economy, \u201cWe are proud to bring our sustainable financing solutions, frameworks and expertise into this partnership to support Sunway\u2019s diversified businesses and its ecosystem partners in their decarbonization journey,\u201d said Ng Wei Wei, Chief Executive Officer, UOB Malaysia. Deliverables under the MOU will be rolled out progressively in the next few years. To kick-start their sustainability journey, Sunway\u2019s partners, tenants and suppliers will be able to leverage UOB Malaysia\u2019s online sustainability tool in the coming monthsEstablished in 1974, Sunway Group is a conglomerate with 13 business divisions across more than 50 locations primarily in Asia. UOB Malaysia is a subsidiary of UOB, a Singapore-based bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe, andSunway, Gentari and EV Connection ink MoU to develop Electric Vehicle charging infrastructure across Malaysia"}, {"url": "https://technode.global/2023/06/08/malaysia-central-bank-asean-5-to-set-up-multilateral-platform-for-cross-border-payment-connectivity/", "page": 30, "title": "Malaysia central bank, ASEAN 5 to set up multilateral platform for cross-border payment connectivity", "contents": "The central bank of Malaysia is working with ASEAN 5 (Indonesia, the Philippines, Singapore, Thailand, and Malaysia), together with the Bank for International Settlements Innovation Hub in Singapore, to put in place a multilateral platform for cross-border payment connectivity, news agencyBank Negara Malaysia Assistant Governor Suhaimi Ali said the project, known as Project Nexus, aims to make transactions across borders to be efficient, similar to the domestic payment system. He said the launch of bilateral cross-border payment linkages on Thursday is in the right direction, even though bilateral connectivity remains a challenge, as it is expensive and may not be scalable. \u201cBank Negara is trying to resolve this, because as an open economy, we have many trade partners, wherein there are two-way flows that need to be managed,\u201d he was quoted as saying. \u201cBesides, we will also need to address know-your-customers issues to ensure that people who are [making the] transactions are not related to crimes and illegal activities,\u201d he said in a panel discussion titled \u201cDigitalisation in Payments: Going Digital with Confidence in an Innovative Landscape\u201d. The panel discussion was held in conjunction with Bank Negara Malaysia\u2019s Sasana Symposium 2023, and the launch of bilateral cross-border payment linkages at Sasana Kijang, on Thursday. Suhaimi said the complexity of Project Nexus cannot be undermined, and among the factors that need to be considered before implementing the platform in the real world is the governance arrangement for the entity that would manage and operate the Nexus solutions. \u201cThis would require, among others, the right structure, who is going to be the vendor running it, and what kind of oversight that BNM needs to have and so on. \u201cAt this point, we do not know the final outcome of this, as it is an exploration together with ASEAN 5,\u201d he added. The announcement to set up a multilateral platform for cross-border payment connectivity comes as ASEAN countries are pushing for better integration. According to Meanwhile, a key highlight at the symposium is the showcasing of Malaysia\u2019s cross-border QR payment linkages with Indonesia, Singapore, and Thailand. It features an exhibition with food vendors from Malaysia, Indonesia, Singapore, and Thailand. Event participants can experience making live cross-border QR payments by purchasing local delectables from food vendors from the participating countries. Customers of participating financial institutions can now make retail payments by scanning QRIS, NETS, and PromptPay QR codes via mobile banking or e-wallet apps. It supports in-person payments at physical stores and onlineBank Negara hosted its first BNM Sasana Symposium 2023 on Thursday in Kuala Lumpur. In her opening remarks, the central bank Governor Nor Shamsiah Mohd Yunus emphasised the importance of structural reforms. \u201cTo secure our future, the country must stay the course in implementing vital reforms. We must fortify our defences against crises. We must critically examine our priorities to increase our growth potential and meet sustainable goals,\u201d she said. \u201cWe must rebuild the buffers we have drawn down on to strengthen our resilience to future shocks. And we must enhance our capacity to adapt and change in order to manage risks and exploit opportunities that we may not yet see today. For many of the challenges Malaysia faces, the solutions require a  whole-of-nation approach. Hence the theme of this Symposium \u2013 Structural Reforms for a Stronger Malaysia,\u201d said the Governor. Over 700 guests attended the one-day discourse on pertinent topics through seven panel sessions. The sessions discussed macroeconomic topics and current pressing issues such as financial scams, digitalising motor insurance claims, and social protection, among others. Indonesia and Malaysia announce commercial launch of cross-border QR payment linkage"}, {"url": "https://technode.global/2023/06/07/mhi-inks-mou-with-tnb-genco-on-clean-energy-technologies-to-drive-decarbonization-in-malaysia/", "page": 30, "title": "MHI inks MoU with TNB Genco on clean energy technologies to drive decarbonization in Malaysia", "contents": "Japanese industrial group The MoU will help drive the energy transition in Malaysia and support its goal of achieving carbon neutrality by 2050,  MHI said in a statement on Wednesday. Under the MoU, MHI with support from its power solutions brand, Mitsubishi Power, and TNB Genco will conduct studies that examine three key areas related to clean power generation. These include the hydrogen and ammonia value chain in relation to hydrogen production and supply, logistics, storage and related infrastructure; low carbon fuel co-combustion technology in thermal plants; and CO2 capture. The partners will also mutually share experiences and information on the specified areas within the MoU. This could also include sharing experiences and technical know-how on advancing cleaner power generation in Malaysia. \u201cMitsubishi Power has been actively involved in Malaysia\u2019s power generation projects since the 1960s, \u201cWe look forward to extending our support and strengthening partnership with TNB Genco to jointly explore capabilities around innovative energy technologies that help accelerate the country\u2019s net zero emission goals,\u201d said Akihiro Ondo, Managing Director and Chief Executive Officer of Mitsubishi Power Asia Pacific. According to him, this MoU reaffirms the firm\u2019s continued commitment to develop technologies that help its partners in Malaysia and across asia pacific (APAC) deliver a sustainable future. The agreement extends the longstanding partnership between MHI, Mitsubishi Power and TNB Genco, stepping up efforts to achieve net zero emissions by 2050. This aspiration is underpinned by a commitment to reduce 35 percent of its emissions intensity as well as 50 percent of its coal generation capacity by 2035. This MoU follows the Mitsubishi Power Malaysia Technical Seminar 2023 held in January 2023, which involved knowledge-sharing of strategic plans and innovative industry-leading power generation technologies and services to support Malaysia\u2019s energy needs. MHI is an industrial group spanning energy, smart infrastructure, industrial machinery, aerospace and defense. The firm combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. TNB Genco was incorporated as a wholly owned subsidiary of Malaysian electricity utility Tenaga Nasional Bhd \uff08TNB) in August 2019 and operationalized on in October 2020 to spearhead TNB\u2019s power generation role to provide secure, stable, reliable and sustainable power in contributing to the long-term energy needs of the country with end-to-end (E2E) capabilities ranging from plant development,  operation and maintenance (O&M) to end-of-life management. The firm aims to become a top power generation solutions provider that sustainably delivers value to all stakeholders by focusing on key strategic initiatives: turnaround excellence, productivity uplift and asset ans service expansion whilst sustaining business as usual (BAU) performance within power purchase agreement (PPA) levels. Moving forward, TNB Genco said it will accelerate plant turnaround program for new fleets and sustain the impact of value uplifts, develop pipeline of new assets plant-ups and service businesses and unlock productivity savings. Malaysia\u2019s TNB inks partnerships with energy players in Vietnam and Laos for renewable energy"}, {"url": "https://technode.global/2023/06/07/malaysian-preventive-healthcare-provider-drprevents-aims-to-secure-870000-via-ecf/", "page": 30, "title": "Malaysian preventive healthcare provider DrPrevents aims to secure $870,000 via ECF", "contents": "DrPreventsOpen from June 20 to July 21, 2023, the campaign aims to secure MYR 4 million ($870,000), with a strategic focus on expanding the implementation of preventive medicine to complement the national public healthcare system, DrPrevents said in a statement. In line with its collective vision to make community healthcare more readily available, the funds raised via this ECF campaign will primarily be allocated towards opening new clinics. The clinics will be in operation 24-hours, and will help increase round-the-clock touchpoints for preventive healthcare services in densely populated urban areas. \u201cThe demand for preventive medicine and affordable community clinics are on an incline \u2014 especially with more people per square foot in our busiest cities, of which more than 300,000 are outpatients yearly,\u201d said Dr. Vikneswaran Ragupathiraja, Chief Executive Officer of DrPrevents. According to him, DrPrevents\u2019 goal through this ECF is to support its healthcare system in these strategic locations. \u201cWe aim to establish a strong network of 20 branches by 2028, starting with four this year in key locations like Damansara Jaya, SS17, TTDI, and Sungai Buloh,\u201d he added. Besides establishing new clinics, DrPrevents will also be using the funds to develop a comprehensive early cancer detection plan, using advanced screening technologies and medical expertise to identify potential risks at an early stage. Furthermore, the company is looking to introduce general wellness and preventive health training into its portfolio. This will include a specialized weight loss program tailored for individuals of different ages, integrating personalized coaching with clinically-tested fitness strategies. Through the campaign, investors can acquire redeemable non-convertible preference shares at MYR 20 ($4.34) per share, with a minimum investment amount of MYR 2,500 ($543). Investors can look forward to a guaranteed 6 percent return in annual dividends, along with a hefty 20 percent bonus upon completion of the fifth year. For contributions of MYR 10,000 ($2171) or more, DrPrevents is also providing exclusive bonus perks in the form of an industry-line wellness package, free consultations and treatments, as well as total access to its full range of preventive healthcare services. DrPrevents said the firm places a strong emphasis on personalized care and trained specialists bringing medical advancements and solutions to more communities. The DrPrevents network of clinics is currently helmed by 13 doctors across four strategic locations in Klang valley. \u201cDrPrevents is guided by the firm belief that prevention is always better than a cure, \u201cIf we can nip health problems in the bud in the early stages, this can help alleviate any potential strain on our primary healthcare facilities and promote a healthier future for all,\u201d said Dr. Arravindh Vivekananthan, Chief Operating Officer of DrPrevents. According to him, the firm\u2019s main goal has always been to empower individuals to take proactive steps towards their own health and well-being. \u201cWe look to deliver on this commitment to more people through our upcoming expansion plans,\u201d he added. DrPrevents was established in Klang Valley in 2020 by a team of doctors who previously served in government hospitals, where overcrowding and long wait times were persistent issues. With 24-hour operating medical clinics and a dedicated team of doctors and clinic assistants, DrPrevents offers comprehensive healthcare solutions backed by the latest technologies. Guided by the belief that prevention is better than cure, the firm specializes in personalized and innovative medical services to empower individuals in their proactive pursuit of wellness. Malaysia\u2019s DOC2US launches new home-based healthcare services DOC2HOME"}, {"url": "https://technode.global/2023/06/06/five-malaysian-firms-selected-to-pilot-projects-with-mranti-and-united-nations-childrens-fund-unicef/", "page": 30, "title": "Five Malaysian firms selected to pilot projects with MRANTI and UNICEF", "contents": "Five Malaysian firms have been selected to pilot projects with the MRANTI said in a statement on Tuesday that these five Malaysian firms are SustaiNation Malaysia, EXPLORIA, Mobiva, FixApa by Kemaih and Beebag. Each of these social innovators receives MRY150,000 ($32,573) to pilot and scale their transformative solutions over the next six months with an aim to reshape the future of Malaysian children with coaching from PROFICEO. \u201cPROFICEO has coached more than 1000 Startups in Malaysia since its inception in 2008 and we are honoured to partner with MOSTI, MRANTI and UNICEF as the Accelerator Partner for MICA to support Startups that are creating social and environmental impact to grow their businesses, \u201cWe are humbled by the passion and dedication of all the Startups that participated in the Accelerator to support children and look forward to working with the 5 winners to successfully execute their pilot projects with UNICEF,\u201d said Renuka Sena, Chief Executive Officer of PROFICEO. It is noted that the MRANTI Impact Challenge Accelerator (MICA) connected key stakeholders and advanced the development of Malaysian solutions from prototypes into pilot projects, in collaboration with the UNICEF. MICA espouses the core values of Malaysia Madani to create positive transformation, linking sustainability, innovation, and compassion. By directing resources and expertise toward child-centric solutions, it offers a platform for more Malaysian innovations to be showcased, and how these can create positive social and environmental impact. \u201cMICA aims to align technological progress with the welfare of individuals and the environment, ensuring sustainable growth, \u201cAt MRANTI, we prioritize adherence to the United Nations 17 Sustainable Development Goals (SDGs) in all our endeavors. Our goal is to foster a stronger culture of research and innovation among Malaysians, leading to the discovery of solutions which address critical challenges in our country,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. UNICEF Malaysia Deputy Representative Sanja Saranovic said UNICEF recognizes the value of crowdsourcing local innovative solutions and empowering local social enterprises so that more children can learn about climate change, be prepared for disasters, and have the nutrition they need to navigate this changing world. Through this 12-month program comprising funding, support, guidance and services amounting to MYR 1.2 million ($260,000), more than a dozen Malaysian social innovators were given the opportunity to prototype solutions specifically tailored to benefit children, with a focus on critical areas such as climate change, disaster management, and malnutrition. These social innovations focussing on effectively making a tangible difference in the lives of children, will have a chance to develop proof-of-concepts with the support of global civil society. The five Malaysian social innovators have been selected to accelerate their solutions with UNICEF: \u25cf SustaiNation Malaysia: a green school concept offers innovative book series, learning toolkits and locally-made upcycling machineries, to help rural communities especially children, to improve their recycling/upcycling facilities at source. \u25cf EXPLORIA: a comprehensive and systematic approach to educate children on the importance of mangrove protection in mitigating climate change, using a combination of a Hands-on kit, E-learning portal and field trips. \u25cf Mobiva: enables faster emergency response by sharing crowd-sourced data with first responders and rescue agencies, mapping hazards and vulnerabilities. This enables decision-makers with critical information and helps ensure aid is quickly delivered to those who need it most, including children. \u25cf FixApa by Kemaih: a comprehensive digital platform designed to provide a centralized hub for all childcare-related services. \u25cf Beebag: a social enterprise working on addressing plastic pollution by encouraging shoppers to reuse their plastics more often through the use of gamification and modern technology. MRANTI invites high growth Malaysian startups for global expansion"}, {"url": "https://technode.global/2023/06/06/gobi-partners-releases-2022-sustainability-report-as-part-of-its-commitment-to-ungcs-corporate-sustainability-principles/", "page": 30, "title": "Gobi Partners releases 2022 Sustainability Report as part of its commitment to UNGC\u2019s Corporate Sustainability Principles", "contents": "Editor\u2019s note:Pan-Asian venture capital firm The annual report highlights the performance and management of Gobi\u2019s Environmental, Social and Governance (ESG) practices as natural outgrowths of its long-standing company mission to invest in underserved communities, Gobi said in a statement. Following the launch of its inaugural Sustainability Report report last year, Gobi continues to enhance its environmental, social and governance (ESG) framework to address the rapidly evolving, technology-enabled startup ecosystem in Asia. Typically in its early lifecycle, this entails undertaking materially different risks and needs based on the investment stage, sector and geography. In line with its mission to connect entrepreneurial ecosystems across emerging markets in Asia, Gobi\u2019s commitments and efforts are concentrated on three specific impact areas: diversity, equity, and inclusion (DEI), TaqwaTech, and circular economy. \u201cAs the world recovers from the pandemic, we see current market conditions experience a new wave of challenges,\u201cOur commitment to responsible investing starts with helping our companies navigate the present, while foreseeing a future of opportunities we can scale sustainably,\u201d said Gobi\u2019s Head of ESG and Circular Economy Carlo Chen-Delantar. Its latest report, spanning April 1, 2022 to March 31, 2023, reinforces Gobi\u2019s commitment to fostering ESG practices among its portfolio companies and driving positive impact in the investment space. With a marked 41 percent increase in portfolio respondents, the report illustrates higher engagement and collaboration levels within the portfolio, showcasing the startups\u2019 significant strides in their ESG journeys as well as increased awareness and dedication to sustainability. More firms have also aligned their missions with the United Nations\u2019 Sustainable Development Goals (SDGs), demonstrating a commitment to creating a positive impact in response to global challenges. The report delves into Gobi\u2019s ongoing efforts in embedding ESG considerations within the investment lifecycle to identify and assess material ESG risks associated with potential investments, as well as regional best practices to strengthen policies addressing biases, harassment, inequality, data privacy and security risks, and legal and regulatory risks. With 92.8 percent of startups declaring positive work-life balance and 89.9 percent of companies recording gender-equal pay, Gobi\u2019s commitment to fostering gender equality remains at the forefront. Startups that still require guidance in this area will be provided with the necessary resources to push for improvement in ESG policies. \u201cWe are pleased to see the tangible results from our ESG frameworks to generate positive social and environmental impact,\u201cWe hope to continue navigating the intersection between financial viability and positive impact, holding ourselves as well as our portfolio companies accountable for propelling the momentum to a better, more sustainable world,\u201d said Carlo. While progress has been positive, Gobi acknowledges areas for improvement as outlined in its 2023 ESG goals, including further developing DEI policies and training programs; establishing a resource repository for tools and templates; integrating the Sustainability Accounting Standards Board (SASB) and the ESG Data Convergence Initiative; and establishing a circular economy investment thesis for related opportunities. The report also highlights 22 of Gobi\u2019s portfolio companies, including Aerodyne Group, which focuses on precision agriculture solutions to reduce resource usage and minimize environmental impact through artificial intelligence (AI)-driven, drone-based solutions; Deliveree, a company focused on reducing emissions, boosting driver and small trucking business income, and empowering vendors through their app-powered gig economy, and Clearbot, an organizational partner leading the charge in AI-powered marine services through the construction of advanced robotic technology to revolutionize ocean cleanups. Gobi Partners claimed itself as the most interconnected Pan-Asian venture capital firm with $1.6 billion in assets under management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 16 funds to date, invested in over 380 startups and nurtured 10 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Cairo, Dhaka, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. As a Participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labor, environment and anti-corruption to ensure long-term value creation and sustainability across our portfolio. The firm launched its inaugural Sustainability Report in June 2022. Gobi Partners onboards Care Concierge to the Khazanah-backed Gobi Dana Impak Ventures fund"}, {"url": "https://technode.global/2023/06/06/khazanah-leads-policystreets-15-3-million-series-b-fundraising-round/", "page": 30, "title": "Khazanah leads PolicyStreet\u2019s $15.3 million Series B fundraising round", "contents": "Malaysia\u2019s sovereign fund Khazanah Nasional Berhad (Khazanah), under its Dana Impak mandate, recently led a Series B fundraising round of a Malaysian homegrown insurance technology (InsurTech) company, PolicyStreet said in a statement on Tuesday that its recent fundraising round also garnered strong support from other local and international investors, including Altara Ventures, Gobi Partners and Spiral Ventures. It said PolicyStreet intends to use the funds to strengthen its technology and underwriting capabilities. Specializing in customized insurance solutions for businesses and consumers, PolicyStreet aims to increase its on-demand underwriting policies to make protection more accessible and better tap into underserved and underinsured audience segments in Malaysia and the region. \u201cPolicyStreet is committed to empowering underinsured businesses and consumers by providing accessible insurance solutions, \u201cWith over half a million B40 gig workers and 50,000 small-medium enterprises (SMEs) already benefiting from our services, we aim to serve 2.5 million gig workers and 300,000 SMEs within the next five years, creating a more financially inclusive future for communities in Malaysia and the region,\u201d said PolicyStreet Chief Executive Officer and Co-Founder Yen Ming Lee. PolicyStreet is a full-stack InsurTech company that offers digital and customized insurance solutions to consumers and businesses. In offering simple, affordable and purposeful insurance solutions, PolicyStreet said it stands to narrow the protection gap in Malaysia and improve the country\u2019s insurance penetration rate, which at 5.3 percent, currently lags global peers like Singapore (9.3 percent) and the Organization for Economic Cooperation and Development (OECD) (9.4 percent). \u201cDana Impak is our commitment for strategic investments to increase Malaysia\u2019s economic competitiveness and build national resilience, while delivering socioeconomic benefits and impact to Malaysians,\u201d said Khazanah\u2019s Managing Director Amirul Feisal Wan Zahir. According to him, the fund\u2019s investment in PolicyStreet aims to improve insurance penetration within the unserved and underserved segments which advocates inclusivity, providing better financial protection, increasing household resilience and financial well-being. \u201cWe will continue to invest in innovative and impactful solution providers that leverage technology and product innovation to serve the nation,\u201cThis is aligned with our commitment to spur the local start-up ecosystem as part of our strategic imperatives via the Future Malaysia Program,\u201d he said. Dana Impak is a MYR 6 billion ($1.3 billion) allocation over five years and is a key pillar under Khazanah\u2019s Advancing Malaysia strategy, with the aim to increase Malaysia\u2019s economic competitiveness, build national resilience, as well as deliver socioeconomic impact to Malaysians. Khazanah\u2019s investment in PolicyStreet complements its Future Malaysia Program which aims to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital and corporate venture programs through collaboration with domestic and international partners. The Future Malaysia Program supports investments into companies with sustainable business models that deliver socioeconomic impact to Malaysia, such as PolicyStreet, which requires the injection of risk capital. Khazanah\u2019s impact thesis is premised on how innovative insurance solutions provided by InsurTechs like PolicyStreet, offer accessible and meaningful coverage to the unserved and underserved which, in turn, enhance financial protection, household resilience and promote financial well-being for Malaysians. The investment in PolicyStreet also complements the social protection pillar of the Malaysia MADANI Budget 2023 by improving the safety net for gig riders who are exposed to road accidents. \u201cPolicyStreet has defied market expectations and achieved impressive milestones, demonstrating their commitment to driving meaningful social impact in Malaysia, \u201cTheir outstanding achievements in licensing and growth, as well as industry recognition, prove their exceptional value proposition,\u201d said Gobi Partners Cofounder and Chairperson, Thomas Tsao. Through its ongoing collaboration with digital partners such as CARSOME, foodpanda Malaysia and Shopee Malaysia, PolicyStreet said it is well positioned to drive meaningful social impact in Malaysia and the region, particularly for untapped segments such as gig and digital economy workers. With PolicyStreet\u2019s in-house tech and underwriting capabilities, the InsurTech company said it is poised to make protection accessible and tailored to better serve marginalized groups. \u201cAs their Series A lead investor, we are proud of PolicyStreet\u2019s achievements to date. They grew their business five times in 2022 and achieved a sum insured of over $6 billion, serving over 5 million customers, \u201cIn this fundraising round, we doubled down on our support for this amazing team. We are excited and look towards assisting the company\u2019s efforts in regional,\u201d said Dave Ng, General Partner of Altara Ventures. Since its founding in 2017 by former banking and insurance professionals Yen Ming Lee, Wilson Beh and Winnie Chua, PolicyStreet has achieved numerous milestones, including becoming the first homegrown InsurTech to be awarded Financial Adviser and Islamic Financial Adviser licenses by Bank Negara Malaysia (BNM) in 2019 enabling it to work with over 40 insurance and takaful providers to provide financial advice, education and claims support to its customers. PolicyStreet has also obtained the Reinsurer and General Insurer licenses from the Labuan Financial Services Authority (LFSA) in 2021, enabling it to customize and underwrite insurance policy for the unserved and underserved segments. PolicyStreet partners foodpanda Malaysia to digitise delivery partners\u2019 insurance"}, {"url": "https://technode.global/2023/06/05/origin-conference-planning-for-southeast-asia-expansion-markets-and-opportunities/", "page": 30, "title": "ORIGIN Conference: Planning for Southeast Asia Expansion: Markets and Opportunities", "contents": "Editor\u2019s note:\u201cPlanning for Southeast Asia Expansion: Markets and Opportunities\u201dThe panelists first shared about the background of their companies which are operating across several markets in Southeast Asia. The panelists also shared how their companies are able to expand their businesses regionally, serving their customers with better solutions enabled by the Internet and higher smartphone penetration rate. They also shared their companies\u2019 plans and strategies. They also discussed about the opportunities, latest trends in their respective industries, how to navigate in the diverse Southeast Asia region, among other issues. The text below has been edited for clarity and brevity:Lee Koon Tan, Group President of Wellous Group LtdThe company was founded in 2016 in Malaysia. We manufacture, design and we create our own formulation for health food products, distributing via social commerce platforms to most of the countries in Southeast Asia. Malaysia, Singapore Hong Kong and the rest. We are also glad that the company is growing fast over the last couple of years and we are filing for listing. Hopefully, that happens in the next couple of months, in the second half. For a long period of time, there are people who don\u2019t really understand how to have an efficient, effective, preventive way to keep themselves healthy. It\u2019s just because that sector has been underserved. People usually go to hospitals when they fall sick. But if I don\u2019t fall sick, I don\u2019t go to hospitals. Before the era of Internet, I only get some advices from parents or relatives or friends who have some knowledge about [how to stay healthy] which is not ideal. And it\u2019s not comprehensive. Because social commerce platforms are available now, they enable us to really hear what the customers really want, what people want. That is not just confined to rich people. In actual fact, it\u2019s the reverse. Rich people always have resources they can always go and reach out to whatever resources they need. It\u2019s the people who in the mass sectors that don\u2019t have that opportunity. So for the first time, we are able to hear what they really want and we are able to explain to them individually. What your body can be benefiting from these things and how it works and why it works. So I think that transformed the industry and created a new industry that we are currently in. We are also benefiting from Covid-19. The purchasing behavior of consumers changed immediately and drastically during Covid. It pushes everybody to buy online. People are also getting a lot more health conscious. They are finding ways about how they can protect themselves, how they can protect their family. I think that two years was really crucial for that. And from what we see, even post-Covid, that behavior doesn\u2019t go back. People are just so used to online purchases and they\u2019ll continue to do so and people are used to protecting their health. They\u2019re not going to say that okay because Covid is over, I don\u2019t need that. Julian Tan, Founder & CEO of FastCoI\u2019ve actually been in the tech industry for the last 15 years. I used to run 701 search which is an online classifieds marketplace in the region. We had marketplaces in Malaysia, Vietnam, Indonesia, the Philippines as well as Thailand. So when I was running that business, I traveled around the region. I realized that there are a lot of job portals that were focused on the white-collar [workers]. There was nothing really for the blue-collar, the non-executive sector and that\u2019s why later on when I exited the 701 Search, I decided to start the non-executive blue-collar job portal. First in Singapore and then today we are in the region, in Malaysia and the Philippines. We offer two lines of business. One is FastJobs which is a job marketplace that companies use it to hire permanent or contract staff. we recently launched FastGig which is a \u201cworkforce on-demand\u201d service where we are able to supply workers on short notice or on short shifts for our clients. We also have FastLearn which we have launched in Singapore but we have yet launched in the region. We\u2019ve tested it out in Singapore where we actually work with training providers to curate relevant courses to help our job seekers to upskill themselves. We want to help our job seekers to plan their career development. Today you may be a waiter but if you have additional skills like you know how to use [Microsoft] Excel or PowerPoint you can become a restaurant manager one day. ORIGIN Conference: Next Generation: Different Breeds of Unicorns"}, {"url": "https://technode.global/2023/06/02/malaysian-fintech-firm-bayo-pay-raises-2-2m-funding-from-venturetech-sbi-and-venturetech/", "page": 30, "title": "Malaysian FinTech firm Bayo Pay raises $2.2M in funding led by VentureTECH SBI", "contents": "Malaysian FinTech firm Bayo Pay said in a statement that VentureTECH SBI and VentureTECH Sdn Bhd have invested MYR 7 million ($1.52 million) and MYR 3 million ($650,000) respectively in Bayo Pay. \u201cThe investments will be utilised to fund Bayo Pay\u2019s expansion by onboarding new clients and promote its ancillary digital services,\u201d said Aznul Abdullah, Chief Executive Officer of Bayo Pay. According to him, the investments will also go a long way in the operations of the company and support the capital expenditure requirements as part of its forward strategies to expand client base, increase collaborative-based income and further deepen its focus in its niche verticals. \u201cWe are thrilled to have both VentureTECH SBI and VentureTECH as our cornerstone institutional investors and we believe this investment validates our business roadmap, as we execute our strategies to leverage on the global surge in use of digital payments,\u201d he said. According to the statement, this is a maiden investment for VentureTECH SBI, a joint-venture fund management company between VentureTECH and SBI Ventures Malaysia Sdn Bhd (aMeanwhile, this marks VentureTECH\u2019s first investment in the Fintech market segments since its inception, and with the addition of Bayo Pay, VentureTECH has invested and committed to invest in 25 technology industry leaders in its targeted high technology and emerging industries, with aggregate investee net worth surpassing the MYR 2 billion ($440 million) mark. \u201cOur MYR 7 million ($1.52 million) investment will speed up Bayo Pay\u2019s product development cycle through hiring additional talents and client acquisition,\u201d said Mohd Jerry Tan, Principal of VentureTECH SBI. According to him, Bayo Pay\u2019s various white label products and modular approach allow new solutions or financial products to be rapidly deployed on top of its core offerings, allowing Bayo Pay\u2019s clients to focus on what truly matters, i. e. , their products and marketing. Meanwhile, VentureTECH Chief Executive Officer Ahmad Redzuan Sidek said the MYR 3 million ($650,000) investment is in line with VentureTECH\u2019s mission to support local fintech talents and its impact investment philosophy that aims to generate positive socioeconomic benefits in line with the country\u2019s vision of embracing IR4.0 towards creating a more equitable, inclusive, and sustainable growth. According to him, Bayo Pay\u2019s dynamic and modular solutions grant fast deployment in terms of additional features such as security electronic ID module, customer engagement platform and corporate digital payment solutions. He noted the additional features are important because through rapid deployment and various available options, Bayo Pay\u2019s clients are able to customize and offer various products that are central to its strategic positioning. VentureTECH is a government-backed impact investment company established to catalyse the growth of local industries particularly Bumiputera in the high value-added and high-technology industries through equity investment. The firm was incorporated as a wholly owned subsidiary of the Malaysian Industry-Government Group for High Technology (MIGHT). Bayo Pay is a licensed Mastercard non-bank E-money issuer to assist the company in growing its core business and further enhancing its B2B2X white label Digital Payment-as-a-Service solutions to support the growth of local fintech startups in Malaysia. Bayo Pay focuses on offering integrated end-to-end digital payment solutions to small and medium-sized enterprises (SMEs) and corporates with a growing and captive user base. Bayo Pay\u2019s B2B2X business model allows its clients to access its proprietary technology to develop a scalable private label payment solution accessible via its white-label or embedded payment module. This enables any fintech startups or corporates to dive into digital financial services at a more efficient cost by accelerating their go-to-market strategy and alleviating regulatory, legal, and technical obstacles while providing flexibility, and ease of product customization and integration. Malaysia\u2019s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group"}, {"url": "https://technode.global/2023/06/01/chatgpt-app-is-now-available-in-malaysia-ranks-first-on-app-stores-top-chart/", "page": 30, "title": "ChatGPT app is now available in Malaysia; ranks first on App Store\u2019s Top Chart", "contents": "The mobile application (App) version of iPhone users have been able to download it from App Store, but Android users still need to wait a while, according to news portal A check on App store\u2019s top charts on Thursday showed that ChatGPT now ranked number one on the list, followed by other apps such as Gigi Coffee, MAE by Maybank2u and Touch \u2018n Go eWallet. According to App Store, this official app is free, syncs users\u2019 history across devices, and brings users the newest model improvements from OpenAI. \u201cWith ChatGPT in your pocket, you\u2019ll find instant answers, tailored advice, creative inspiration, professional input and learning opportunities,\u201d it added. According to its developer OpenAI, the Microsoft-backed company said it has trained a model called ChatGPT which interacts \u201cin a conversational way\u201d. \u201cThe dialogue format makes it possible for ChatGPT to answer followup questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests,\u201d OpenAi said on its website. The company also pointed out there are some limitations as ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers. \u201cChatGPT is sensitive to tweaks to the input phrasing or attempting the same prompt multiple times. For example, given one phrasing of a question, the model can claim to not know the answer, but given a slight rephrase, can answer correctly,\u201d the company added. OpenAI\u2019s breakthrough ChatGPT has hastened the release of large language model (LLMs) or ChatGPT-like services by companies around the world, from Internet players like Alibaba and Baidu Inc to hardware companies like Asustek Computer Inc, The newswire reported that Alibaba Group Holding Ltd is also integrating its most advanced artificial intelligence system into its Slack-like DingTalk messaging app and a meeting assistant named Tingwu. Microsoft-backed OpenAI announces ChatGPT successor GPT-4 that accepts image, text inputs"}, {"url": "https://technode.global/2023/06/01/paywatch-partners-kb-bukopin-to-empower-indonesian-workers-with-bank-backed-ewa-service/", "page": 30, "title": "Paywatch partners KB Bukopin to empower Indonesian workers with bank-backed EWA service", "contents": "PaywatchThe successful launch of this service follows the signing of a memorandum of understanding (MOU) between the two companies, establishing the partnership framework and terms for the development, Paywatch said in a statement. Through Paywatch, employees in Indonesia can withdraw a portion of their earned wages early, solving cash flow issues that low-income workers face due to limited access to formal financial services and high-interest rates charged by informal lenders. Paywatch said the firm aims to provide liquidity to the workforce, empower Indonesian workers to focus on financial security and create a financially empowered community that can allow them access more financial benefits. It said its EWA is a backed and regulator-approved EWA solution that provides employees on-demand access to their earned wages without incurring any interest or fees, unlike other credit platforms and EWA services. It also said its innovative solution is set to positively impact both employees and employers, creating a sustainable and fulfilled workforce that can achieve its full potential. Richard Kim, Founder and Chief Executive Officer of Paywatch, emphasized the significance of the bank-backed EWA service in Indonesia, saying their initial success in Malaysia and South Korea sets a good foundation for expansion into other markets, particularly in Southeast Asia. \u201cWith the backing of a reputable financial institution like KB Bukopin, Paywatch can help businesses in Indonesia fulfil their ESG commitments and support their people,\u201d he said. Paywatch said its EWA is designed to be a seamless and hassle-free solution for employers. It is noted that signing up for the service requires no changes to existing HR management or payroll systems, and comes at no additional cost. With KB Bukopin\u2019s reliable infrastructure and regulatory framework, Paywatch said it is able to offer a secure and trustworthy financial solution for employees, increasing credibility and trust in the service. Tom Lee, Chief Executive Officer of KB Bukopin, expressed pride in being the first bank in Indonesia to collaborate with Paywatch and launch a bank-backed Earned Wage Access service. \u201cWe are thrilled to lead the way in driving financial inclusion and improving overall financial well-being in Indonesia with Paywatch, \u201cThis partnership is a testament to our unwavering commitment to innovation and our customers\u2019 financial success,\u201d he said. Robby Mondong, Deputy President Director at KB Bukopin, said he believes that Paywatch\u2019s EWA service has the potential to empower the lives and livelihoods of employees across Indonesian businesses. \u201cThis is a significant step towards building a sustainable digital banking and finance ecosystem that KB Bukopin is committed to achieving,\u201d he said. To date, Paywatch\u2019s EWA solution has already surpassed more than 200,000 employees globally, improving retention rates for businesses that leverage Paywatch up to 75 percent and saving over IDR 6 billion ($401,108) in annual rehiring fees for small and medium-sized enterprises (SMEs) and multinational corporations (MNCs). Paywatch said its commitment to transforming the landscape of a financially inclusive future is set to create a more sustainable and fulfilled workforce, taking care of the financial well-being of employees in Indonesia and beyond. Paywatch is a EWA solution provider backed by major banks.  Working with top banks and employers in each of its markets, Paywatch serves as a bridge to help employees get banked and achieve financial security. Paywatch currently operates in South Korea and Malaysia, and is expanding its footprint in Southeast Asia. Bank KB Bukopin is an Indonesian banking company, offering a range of conventional and Sharia banking services, as well as financing solutions to meet diverse financial needs. Gobi Partners and MAVCAP works with Paywatch to address  demand for earned wage access"}, {"url": "https://technode.global/2023/06/01/malaysian-regulator-seeks-to-transform-agri-sector-via-fintech-alternative-financing/", "page": 31, "title": "Malaysian regulator seeks to transform agri sector via FinTech, alternative financing", "contents": "Malaysian regulatorThe SC said in a statement on Wednesday that the regulator is encouraging wider adoption of financial technology (fintech) in agriculture in order to help in achieving the country\u2019s food security agenda. Its Chairman Awang Adek Hussin said access to finance is critical to agriculture\u2019s future. This is especially important for smallholders and agritech-preneurs seeking to modernize agriculture and strengthen research and development, he said in his opening address at the SCxSC Grow Fintech Conference. This marks the 10th iteration of the SCxSC conference that is held in-person after the Covid-19 pandemic. SCxSC GROW, is a new collaborative program, under the SC\u2019s fintech flagship initiative \u201cSynergistic Collaboration by the SC\u201d (SCxSC). The SCxSC GROW embodies a collaborative effort with partners in the fintech ecosystem to harness the potential of alternative financing digital platforms to meet the needs of micro, small, and medium-sized enterprises (MSME) in strategic sectors. Recognizing the challenges faced MSMEs in the agriculture sector, Adek said that leveraging fintech solutions will help improve access to financing and increase efficiency in the sector. To achieve this goal, he said the SC has been working closely with ecosystem players to develop innovative solutions that cater to the unique financing needs of farmers and agribusinesses. This is in tandem with the national agenda to support the agriculture sector\u2019s transition into a dynamic and progressive sector. Adek also said that the capital market can be an enabler and accelerator to help Malaysia achieve its food security agenda. \u201cAlternative financing avenues such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing allow investors with the right risk appetite to mobilize capital directly for agri-preneurs,\u201d he said. He added that this provides more options for younger and high-growth companies to access capital relevant to their business risk profiles. According to the statement, over 7,000 MSMEs have benefited from SC-registered ECF and P2P financing since their introduction in 2015, raising more than MYR 4.4 billion ($954 milion), with only 600 agri-related MSMEs across the entire value chain raising close to MYR 300 million ($65.04 million). This presents a significant opportunity for agricultural growth and investment. According to Adek, Malaysia was also the first country in this region to adopt a co-investment model, MyCIF specifically for alternative finance platforms. MyCIF was instrumental in providing MSMEs with financing during the Covid-19 pandemic. \u201cMyCIF implemented a special allocation ratio of 1:2 for the agriculture sector in 2022, which is more appealing than the normal ratio of 1:4,\u201cWe\u2019ve seen increased interest as four times as many agri-businesses have raised funds through ECF and P2P platforms,\u201d he said. The SCxSC GROW Fintech Conference, themed \u201cFostering Innovative Finance in Agriculture\u201d, aims to be a game-changer for the agriculture industry. With the world facing increasingly complex challenges, the conference brings together agriculture and fintech players to explore innovative solutions to food security, sustainability and supply chain resilience. New cutting-edge solutions were showcased at the conference, highlighting the latest advancements in these fields. The conference also featured local fintech players in the agriculture sector. These fintech solutions have the potential to revolutionize the way farmers access financing and manage their operations, enabling them to make better use of resources and increase yields, said the statement. Securities Commission Malaysia revises venture capital and private equity framework"}, {"url": "https://technode.global/2023/06/01/maybank-launches-cross-border-qr-payment-service-for-malaysians-travelling-abroad-and-tourists-visiting-malaysia/", "page": 31, "title": "Maybank launches cross-border QR payment service for Malaysians travelling abroad and tourists visiting Malaysia", "contents": "Malaysian largest lender Similarly, incoming tourists from these countries will also be able to make cashless payments with Maybank QRPay merchants in Malaysia, Maybank said in a statement. According to the statement, the new offering will enable Malaysians visiting the respective countries to enjoy a cheaper, faster and more convenient payment option through the MAE app. With borders reopening for quarantine- free travels, cross-border QR payments offer travellers the ease to skip trips to money changers and carry cash altogether. Similarly, tourists visiting Malaysia whose banks are affiliated with the payment service providers can also benefit from cross-border QR using their local banking apps at Maybank QRPay merchants nationwide. This greatly benefits local participating merchants, as it allows them to receive payments from tourists in Malaysian Ringgit (MYR) into their accounts immediately. John Chong, Group Chief Executive Officer, Community Financial Services at Maybank, said that Maybank\u2019s intent has always been to create products and services that will provide value and improve the lives of its customers, in line with its purpose of humanizing financial services. He said the cross-border QR payment service is an essential feature that will facilitate Malaysian travellers\u2019 abroad via the MAE app, as well as tourists coming to Malaysia to conduct cashless payments through their respective country\u2019s currency. It also serves as a key to improving efficiency while promoting the digital economy and financial inclusion in the ASEAN region, he added. \u201cThis is timely as we noticed the significant increase in technological demands among the public as they look for banking solutions that offer unprecedented speed and new levels of convenience while ensuring the safety and security of their transactions, especially post-pandemic,\u201cFurthermore, the QR payment linkage between Malaysia, Singapore, Indonesia and Thailand complements a growing network of bilateral payment interdependence that will contribute towards a more dynamic ASEAN and further development of the region,\u201d he added. According to the statement, this is also part of the group\u2019s M25+ strategy to strengthen its business presence and position in the region and for Malaysia to provide differentiated businesses and product solutions supported by the modernization of Maybank\u2019s technological platforms and applications across its key markets. Maybank\u2019s QR payment service will provide convenience for more than 8 million Maybank app users and benefit over 700,000 Maybank QRPay merchants in Malaysia. Approximately 3.5 million Malaysian tourists travel to Singapore, Indonesia and Thailand in 2022 alone and with theThe bank\u2019s cross-border QR payment service is made possible through the collaboration between Bank Negara Malaysia and Payments Network Malaysia Sdn Bhd (PayNet). Maybank is also in the works to roll out this payment feature across more countries soon. Malaysia\u2019s largest lender Maybank introduces financing solution for electric vehicle"}, {"url": "https://technode.global/2023/06/01/manis-leting-and-triphie-tops-the-1337-ventures-alpha-startups-pre-accelerator/", "page": 31, "title": "Manis Leting and Triphie tops the 1337 Ventures\u2019 Alpha Startups\u2122 Pre-Accelerator", "contents": "Malaysian food tech firm Manis Leting and trip planning platform Triphie have topped the 1337 Ventures said in a statement on Wednesday that nine aspiring Malaysian startups showcased their innovative solutions in front of a live audience of investors, industry experts, and fellow entrepreneurs during its Alpha Startups\u2122 Pre-Accelerator program. According to the statement, the pre-accelerator program received hundreds of applications from early-stage startups nationwide when applications were announced early this year. It is noted that 26 promising startups were selected to join the cohort. From the 26 Malaysian startups, the cohort was narrowed down to the top nine finalists to wow the crowd with their ideas. The Alpha Startups\u2122 Demo Day hosted at Google Malaysia marked the culmination of the program, providing participants with a platform to gain hands-on experience to pitch their ideas to potential investors and launch their startup. Manis Leting and Triphie subsequently won the cohort and will receive pre-seed funding of up to MYR50,000 ($10,811). Amirah Jasmine and Atirah Danial\u2019s Manis Leting creates healthier alternative food products that uses zero white sugar. \u201cAlpha Startups\u2122 has boosted our confidence as startup founders in the food and beverage industry, \u201cThe mentors in the program provided much needed guidance and support, giving us more clarity on how to bring Manis Leting forward,\u201d said Atirah Danial Norman. With the funding received from 1337 Ventures, the duo now plans to focus on licensing and certification, production, operations, and marketing to scale. Meanwhile, Triphie is an artificial intelligence (AI)-enabled all-in-one, personalized and collaborative trip planning platform that helps travellers discover, plan, and book their holidays. \u201cWe\u2019re at such an early stage, and that too in a very competitive market of travel and tourism,\u201cBeing part of the Alpha Startups\u2122 pre-accelerator program gave us a clear vision of how to differentiate ourselves among our competitors,\u201d said Nour Araar, the Founder of Triphie. The other startups pitched at the demo day were Beseek, Cocojack, Kita, MyDeliva, Odar, SAPOT, and TigerCampus. They pitched their ideas to a panel of judges, including Freda Liu, a celebrated author and broadcast journalist; Bikesh Lakhmichand, Founding Partner of 1337 Ventures; and Alpha Startups\u2122 alumnus Gokula Krishnan, the founder of Vircle. \u201cIt\u2019s hard to get to the core of your business when you only have a short amount of time to pitch and convince investors to invest in your business,\u201cEveryone worked hard, and as a first-time judge who has interviewed a lot of companies, it was a great experience for me. \u201d Freda said. Gokula Krishnan\u2019s Vircle was an Alpha Startups\u2122 alumni back in 2020. \u201cReflecting on my journey as an early-stage startup during the pandemic, the Alpha Startups\u2122 pre-accelerator program quickly helped me validate and finetune the idea of Vircle,\u201cIt was a great stepping stone to where Vircle is today. The pre-accelerator also created invaluable connections and mentors that are still supportive today,\u201d said Gokula. All the startups from the recent cohort will receive perks up to MYR80,000 ($17,299) worth of digital credits from Google Cloud, CloudMile, Airtable, Swipey, Notion, Stripe, WORQ and more. The latest cohort of Alpha Startups\u2122 is supported by MRANTI, Digital Penang, WORQ, and Google. Malaysian venture capital firm 1337 Ventures launches new $290,000 fund for Malaysian startups"}, {"url": "https://technode.global/2023/05/30/kaf-carsome-consortium-targets-to-launch-digital-bank-as-early-as-year-end/", "page": 31, "title": "KAF-Carsome consortium targets to launch digital bank as early as year-end", "contents": "The consortium led by KAF Investment Bank Bhd, which won one of the five Malaysian digital bank licences, plans to launch its digital bank as early as year-end or early next year. The consortium, which also includes Malaysia\u2019s first tech unicorn \u201cStill in progress on getting the live date. I think\u2026 it\u2019s optimistic. They are looking to be the first out [to launch],\u201d he told reporters at a recent media luncheon (May 18) at its headquarters. \u201cTo be the first, it means end of this year or early next year,\u201d Cheng said, when asked about the timeline. Carsome, together with FinTech firm Jirnexu and digital remittance platform MoneyMatch, forms part of the consortium led by KAF Investment Bank which will be licensed under the Islamic Financial Services Act (IFSA) 2014. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform with presence across Malaysia, Indonesia, Thailand and Singapore while Jirnexu is known for its digital financial marketplace, RinggitPlus \u2013 Malaysia\u2019s financial comparison website. MoneyMatch is operating in the international payment space, operating on a fully digital platform to provide remittance services for individuals and businesses with a global reach of over 82 countries in more than 40 currencies. In a separate media conference last Friday, Malaysia-based telco Axiata Group Bhd CEO and Managing Director Vivek Sood said it plans to launch the digital bank by end-2023 and targets to make it profitable over the next three to four years. Vivek said the group did not foresee any hurdles for the digital bank as of now, but the whole process of launching the bank requires a thorough review and approval needed from the central bank. Axiata\u2019s unit Boost Holdings Sdn Bhd, in a consortium with RHB Bank Bhd, has secured one of the five digital bank licences issued by central bank last year. \u200b\u200bMalaysia\u2019s move to issue digital bank licenses comes at a time when regulators across Asia including Singapore, Hong Kong, the Philippines, Thailand and Indonesia, are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. The other recipients of the digital banking licenses are a consortium led by YTL Digital Capital Sdn Bhd and Sea Ltd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; and a consortium of MoneyLion Inc, Aeon Financial Service Co Ltd and AEON Credit Service (M) Bhd. Malaysia\u2019s Carsome banks on digital banking to complement existing car business"}, {"url": "https://technode.global/2023/05/29/mranti-invites-high-growth-malaysian-startups-for-global-expansion/", "page": 31, "title": "MRANTI invites high growth Malaysian startups for global expansion", "contents": "The Applications open from today with four cities on the 2023 destination roster including Osaka and Tokyo, Berlin and Bangkok, MRANTI said in a statement. \u201cGMP is designed for companies geared up for the next stage of growth. It will help them navigate tough competition in a crowded market and maximize their market expansion efforts, \u201cWhether they are looking to enter into a new vertical, or reach an emerging audience segment, GMP steers them through business, technical and cultural aspects of these countries for better opportunities to succeed,\u201d said Dzuleira Abu Bakar, MRANTI Chief Executive Officer. According to her, the firm is targeting to enlist at least 100 quality applications for GMP in 2023, making it one of the largest Malaysian innovation global market-entry equipping programs this year. \u201cWe want our innovators to ride on the growing momentum in international business and position them early into the next 24 months of sustainable growth,\u201d she added. It is noted that MRANTI has been providing a platform for high growth startups, innovative spin-offs or companies to gain international market access for rapid international commercialization since 2020 through GMP. The program has supported 62 companies across six countries, and established partnerships with more than 22 organizations. This year, GMP is opening its doors to innovators with research and development (R&D) solutions which have registered intellectual property or patents in Malaysia, to participate in the program. Companies are expected to be majority Malaysian-owned or with their intellectual property (IP) based in Malaysia. Companies with products and solutions in Internet of Things (IoT), finTech and IT (Software as a Service, SaaS), smart cities, machinery, healthtech, smart manufacturing, agriculture, education, transport, food and beverage and mobility are highly encouraged to apply. Dzuleira explained that exciting improvements have been made for GMP, in which selected companies stand to gain up to MYR1 million ($220,000) in program value from the government agency. Participants are expected to commit to a 2 to 3 month program from July to October, during which MRANTI orchestrates a series of physical and virtual workshops and match-making meetings. Through the comprehensive, intensive and immersive program, participants will be mentored on approaches to localize and validate their business model, and strategize their market entry. This includes having the products and solutions lined up for a needs analysis, a value creation framework, a rubric for market expansion and more. Meanwhile, participants will have the opportunity to network and gain business insights and technical support through one-on-one mentoring sessions, as well as meet investors,As a result of the support and interventions, each company is expected to realize MYR500,000 ($108,637) in value creation across the 24 months, through prototype contracts, development contracts, partnerships, IP licensing and subscriptions, and any other collaborations. To participate, companies need to demonstrate a minimum of MYR1 million ($220,000) in revenue, with commercialized products (achieving a minimum Technical Readiness Level of 6 or more), proven stream of business transactions and with a strong financial record. \u201cWe want to scale up and scale out these businesses fast by reducing uncertainties and increasing their chances for success especially in the global market,\u201d Dzuleira said. According to her, there will only be one batch intake this year for GMP across the three countries, so the firm encourages eligible entrepreneurs with a mindset for international expansion to apply soon. She also said that MRANTI connects regional and global ecosystem players for commercialization of R&D and welcomes bi-lateral international collaboration opportunities. MRANTI, DNB, Ericsson extend MOU to boost technology clusters  in MRANTI Park"}, {"url": "https://technode.global/2023/05/28/malaysias-tnb-inks-partnerships-with-energy-players-in-vietnam-and-laos-for-renewable-energy/", "page": 31, "title": "Malaysia\u2019s TNB inks partnerships with energy players in Vietnam and Laos for renewable energy", "contents": "Malaysian electricity utility These collaborations are set to accelerate regional decarbonization efforts and cater to the increasing demand for cleaner, sustainable energy options, TNB said in a statement on Friday.   According to the statement, these partnerships aim to enhance TNB\u2019s RE portfolio and fast-track the expansion of TNB\u2019s wholly owned subsidiary, TNB Power Generation Sdn Bhd (TNB Genco) and TNB\u2019s New Energy Division into Southeast Asia.   The strategic collaborations were materialized through the signing of three memorandum of understandings (MoUs). The MoUs signed in Vietnam were between TNB Renewables Sdn Bhd (TRe) and Saigon Gia Dinh Electric Joint Stock Company (EHCMC) and between TNB Repair and Maintenance Sdn Bhd (TNB REMACO) and North Power Service Joint Stock Company (EVNNPS). Similarly, the MoU signed in Laos was between TNB\u2019s wholly owned subsidiary TNB Genco and Electricite Du Laos (EDL). \u201cOur commitment in promoting RE and creating a sustainable future for Southeast Asia is unwavering, \u201cBy combining our strengths and expertise, we will unlock the vast RE potential in Vietnam and Laos, driving economic growth and the broader energy transition,\u201d said TNB President and Chief Executive Officer Indera Ir. Baharin Din. The TRe-EHCMC MoU is to explore potential renewable power generation technologies opportunities in Vietnam, while the TNB REMACO-EVNNPS MoU is for collaboration and cooperation for potential energy-related services works in Vietnam, Cambodia, Laos, Myanmar and Thailand.  \u201cThrough the MoU between TRe and EHCMC, we look forward to leveraging our combined strength and expertise that can unlock the vast RE potential in Vietnam,\u201d said Baharin. In TNB REMACO-EVNNPS collaboration, he said TNB is offering valuable services such as O&M and maintenance, repair, and overhaul (MRO).  Through the partnership with EDL, he said TNB is looking forward to strengthening cooperation by exploring investment opportunities in RE as well as exploring off-take opportunities through the Laos-Thailand-Malaysia Power Integration Project (LTM-PIP).  \u201cTNB is ready to be Laos\u2019 strategic partner, fostering growth and realizing Laos as the \u2018Battery of Southeast Asia\u2019,\u201d said Baharin. According to him, this is also in line with TNB\u2019s commitment to accelerate the firm\u2019s energy transition plan and achieve net-zero by 2050. \u201cI am confident that this MOU will facilitate other areas of cooperation for partnerships and shared success. We thank EDL for this exciting opportunity,\u201d he said.   TNB, in its four initiatives to fast-track the group\u2019s sustainability agenda, is continuing its huge investment in the Grid of the Future, accelerating decarbonization to increase the enterprise value of its power generation arm, TNB Genco; expanding focus markets to grow its RE portfolio; and focusing on electric vehicle ecosystem development. GDS, TNB sign supplemental agreement for powering data center campus in Malaysia"}, {"url": "https://technode.global/2023/05/26/axiata-plans-to-launch-digital-bank-by-year-end-report/", "page": 31, "title": "Axiata plans to launch digital bank by year-end \u2013 report", "contents": "Malaysia-based telco Axiata Group Bhd plans to launch its digital bank by end-2023 and targets to make it profitable over the next three to four years, its Chief Executive Officer and Managing Director Vivek Sood said. Vivek said the initial capital commitment for the digital bank would be around MYR100 million ($21.69 million), and it would offer large product offerings, including deposits for current account and saving account (CASA) account holders as well as insurance products and other financial products that would be gradually launched starting end-2023, national news agency \u201cWhy we are optimistic about the outcome of the digital bank comes from the fact that there are many things we have already done which need to be translated to the bank. For example, we have done around one and a half billion in loans to micro, small, and medium enterprises (MSMEs) within our existing business within Boost Credit. \u201cWe also have a large number of a half million active customers on a monthly basis which could potentially be the customers of the digital bank from day one. We are preparing our plans and would require the central bank\u2019s necessary approvals before we can launch it,\u201d he told a virtual media conference after the group\u2019s annual general meeting, according to the news agency. Axiata\u2019s unit Boost Holdings Sdn Bhd, in a consortium with RHB Bank Bhd, has secured one of the five digital bank licences issued by central bank last year. The other recipients of the digital banking licenses are a consortium led by YTL Digital Capital Sdn Bhd and Sea Ltd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by KAF Investment Bank Sdn Bhd which also included tech unicorn Carsome; and a consortium of MoneyLion Inc, Aeon Financial Service Co Ltd and AEON Credit Service (M) Bhd. Vivek said the group did not foresee any hurdles for the digital bank as of now, but the whole process of launching the bank requires a thorough review and approval needed from Bank Negara Malaysia. Last month, Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million, the people reportedly said. The funding round would help finance the expansion of Boost\u2019s digital banking operations, the people added. In a recent According to him, as of 2022, Boost has accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of its customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate, he noted. Boost is the regional fintech unit of Axiata, offering an all-in-one app, merchant solutions, artificial intelligence-based lending and a cross-border payment platform. It serves millions of customers across seven countries in Southeast Asia, the site shows. In 2020, Axiata sold a 21.9 percent stake in Boost to Great Eastern Holdings Ltd, the insurance arm of Singapore\u2019s Oversea-Chinese Banking Corp (OCBC) for $70 million, according to earlier reports. The investment valued Boost at $320 million, Bloomberg reported. Malaysia-headquartered telco Axiata has controlling interests in six mobile operators under the brand names of \u2018Celcom\u2019 in Malaysia, \u2018XL\u2019 in Indonesia, \u2018Dialog\u2019 in Sri Lanka, \u2018Robi\u2019 in Bangladesh, \u2018Smart\u2019 in Cambodia and \u2018Ncell\u2019 in Nepal, as well as minority interests in \u2018Idea\u2019 in India and \u2018M1\u2019 in Singapore. Axiata\u2019s Boost to leverage ecosystem as it prepares to launch its digital bank. Here\u2019s how and why. [Q&A]"}, {"url": "https://technode.global/2023/05/25/aerodyne-unveils-innovative-solutions-for-advanced-air-mobility-and-uas-istar/", "page": 31, "title": "Aerodyne unveils innovative solutions for advanced air mobility and UAS ISTAR", "contents": "Aerodyne GroupThese innovative solutions, powered by Aerodyne\u2019s proprietary intelligence platform, DRONOS \u2013 Drone Operating System, redefine transportation, logistics, and security operations delivering efficiency, cost reduction, and enhanced safety, Aerodyne said in a statement. ARGENTAVIS, an advanced air mobility solution, optimizes operations by efficiently handling mid to heavy lifting up to 225kg and covering distances of up to 725km. It caters to various industries, including oil and gas shore-to-platform deliveries, medical supplies transportation to rural areas, and smart city logistics. According to the statement, Aerodyne\u2019s expertise in drone technology and data analytics positions them as industry leaders in developing innovative solutions tailored to specific logistical needs. FULCRUM represents a significant advancement in security and surveillance management. It enhances safety, effectiveness, and situational awareness in critical operations like oil and gas (O&G) pipeline monitoring, search and rescue missions, and border security. By leveraging AI-driven geospatial intelligence, nested swarm system, and advanced unmanned helicopter, FULCRUM delivers state-of-the-art intelligence, surveillance, target acquisition and reconnaissance (ISTAR) solutions that set new standards in the market. As an integral part of Aerodyne\u2019s holistic approach, ARGENTAVIS and FULCRUM seamlessly integrate with DRONOS, that serves as the intelligence hub for all things drone. This integration empowers organizations with real-time data processing, advanced analytics, and enhanced situational awareness, enabling them to make informed decisions and achieve unprecedented levels of operational excellence. \u201cThe introduction of ARGENTAVIS and FULCRUM represents a significant milestone for Aerodyne and the drone industry,\u201cThese solutions embody our commitment to innovation and delivering transformative solutions to our global clientele,\u201d said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. He said the firm is ushering in a new era of efficiency, cost reduction, and safety in transportation, logistics, and security operations. He also further highlighted some of the specific use cases where Aerodyne\u2019s solutions will make a difference. \u201cWe are thrilled to embark on various projects, including island to island delivery, implementation of a nested drone system to monitor assets spanning over thousands of kilometers, enabling efficient delivery of food and medicines to remote areas, providing long-range surveillance capabilities, and supporting maritime and land border management, \u201cThese opportunities showcase the versatility and game-changing potential of our advanced drone technologies,\u201d he added. According to the statement, the launch of ARGENTAVIS and FULCRUM at LIMA 2023 exemplifies Aerodyne\u2019s dedication to pushing the boundaries of drone technology and spearheading industry advancements. With a focus not only on developing state-of-the-art drone hardware but also on harnessing artificial intelligence (AI)-driven data intelligence for superior situational awareness, Aerodyne is dedicated to delivering comprehensive solutions that empower organizations to achieve unprecedented levels of operational excellence. Aerodyne is a drone-based enterprise solutions provider which adopts holistic approach to drone tech, data tech, and digital transformation (360DT3) to help organizations overcome complex industrial challenges by leveraging drone data and AI-powered analytics. Aerodyne adopts a client-centric approach and collaborate with organizations using the build-operate-transfer (BOT) model, empowering them to establish their own in-house drone capabilities while capitalizing on its expertise and experience. Aerodyne employs over 1,000 drone professionals to operate on an unprecedented level in the unmanned aircraft systemBEYOND EXPO 2023: Malaysia\u2019s Aerodyne plans to raise up to $200M in Series C round; IPO in two to three years\u2019 time"}, {"url": "https://technode.global/2023/05/23/malaysian-proptech-firm-livein-acquires-property-management-firm-kt-management/", "page": 31, "title": "Malaysian PropTech firm LiveIn acquires property management firm KT Management", "contents": "Malaysian PropTech firmLiveIn said in a statement that this merger makes LiveIn the market leader in the space and will provide KT Management\u2019s thousands of tenants, LiveIn\u2019s flexible community living solutions and a better online to offline (O2O) experience. This means that after they graduate, they will be able to have access to any accommodation within LiveIn. \u201cMalaysia and Thailand are key markets for us. The market conditions in Southeast Asia are perfect for LiveIn with its young people population, massive numbers of young professionals moving to the cities and the huge property overhang,\u201cWith our success of this merger, we know we have the template for success. We are now aggressively pursuing acquisition opportunities there and around the region,\u201d said Keek Wen Khai, Co-Founder and Chief Executive Officer of LiveIn. com. According to him, LiveIn Community Managers have been hard at work in Kampar Malaysia integrating LiveIn\u2019s flexible community living solutions and processes to KT\u2019s properties and tenants. \u201cNow that they are under the LiveIn family, as these university students graduate and move to the city to further their studies or to work, they will be able to seamlessly relocate to our other properties, \u201cThe entire process will be carefully managed by our expert team of LiveIn Community Managers,\u201d he added. He also said by ensuring the firm\u2019s tenants stay with them in different stages of their student and professional lives and in different cities, they ensure a level of continuity that is rate in the rental market. \u201cWe learn so much from them. We earn a higher level of brand loyalty. And we enjoy a much higher lifetime value (LTV) from each and every one of tenants,\u201d he said. LiveIn is a regional proptech company providing affordable long-stay rental solutions. Formerly known as Hostel Hunting, the firm provides flexible community living, affordable rental and an enhanced O2O experience for their tenants through their online platform. The company has been growing aggressively in Malaysia and Thailand by taking advantage of the property overhang in the region and the growing demand for better long term rental options for university students and young professionals. KT Management is a major player in the student accommodation and one of the largest private long stay rental providers in the northern region of Malaysia. \u201cKT Management has been growing year on year. This merger is a natural progression. Integration has been amazing and KT\u2019s tenants are already enjoying the benefits. \u201d said Kent Tee, KT Management\u2019s founder. \u201cI\u2019ve been in this industry for over ten years, I believe in LiveIn\u2019s vision to be the leading player in Southeast Asia,\u201cThis is a key strategy for growth, I foresee this will be the first of many. I am excited to now be a part of the expansion team in new cities and to bring my expertise to the table,\u201d he added. With the successful merger of their operations and management team, LiveIn said it hopes to replicate this in their other markets. Malaysian PropTech firm Urbanmetry bags $2M Pre-Series A led by Monk\u2019s Hill Ventures"}, {"url": "https://technode.global/2023/05/23/origin-conference-why-is-southeast-asia-prime-for-the-next-decade/", "page": 31, "title": "ORIGIN Conference: Why is Southeast Asia Prime for the Next Decade?", "contents": "Editor\u2019s note:\u201cWhy is Southeast Asia Prime for the Next Decade?\u201d was a panel that featured Thomas G. Tsao of Gobi Partners, Davide Cali of CrossFund, and Winston Utomo of IDN Media, moderated by Yimie Yong of TechNode Global at the ORIGIN Conference. \u200b\u200b The panellists, based in Malaysia, Vietnam and Indonesia respectively, discussed about the reasons why Southeast Asia is prime for the next decade and where they see opportunities within the region. They also discussed the challenges of investing and operating in the Southeast Asian region and had given some pieces of advice to investors and companies looking into this multi-cultural and diverse market. The text below has been edited for clarity and brevity:Thomas G. Tsao, Co-Founder and Chairperson of Gobi Partners:Malaysia is sometimes an overlooked market in Southeast Asia. I think Malaysia, especially for our friends from China, can serve as a \u201cPenta\u201d hub. Penta means five, so the five-sided hub. By going to Malaysia you can connect to the five of the biggest investment trends on the planet. Malaysia shared a similar language (Malay and Indonesian language) with Indonesia and both countries have a large Muslim community. You can go to Indonesia directly and you could also use Malaysia as a stepping stone into Indonesia. Malaysia\u2019s strength is its diversity. Malaysia has a thriving Malaysian-Indian community. So from Malaysia, you can connect to India. Malaysia also has a thriving Malaysian-Chinese community. They have Michelle Yeoh. Even Hong Kong is trying to claim her but she\u2019s also from Malaysia, right? So you can connect back to the Greater Bay, China through Malaysia. Malaysia is part of the British Commonwealth, they speak good English. You can connect to Europe, North America, the West through Malaysia. I think the last huge opportunity is because Malaysia is positioning itself as a center for \u2018Taqwa tech\u2019. It\u2019s innovation focused on the global digital Muslim economy. Taqwa is the Arabic word for faith purposes. When you look at the big opportunities: China was huge, because it was 1.4 billion people. What\u2019s bigger than 1.4 billion? 2 billion, and that\u2019s the number of Muslim consumers on the planet. And what Gobi is trying to do is, through Malaysia, and we\u2019re building out in Pakistan, Bangladesh. We have a presence in Indonesia. Imagine connecting that across Southeast Asia, South Asia and MENA (Middle East and North Africa). That can be a big opportunity and again, you can access that through Malaysia. You mentioned Carsome (Malaysia\u2019s first unicorn). We think Malaysia\u2019s second unicorn is emerging, Aerodyne. if Kamarul (founder of Aerodyne) decided to set up the company in Singapore or Indonesia, the company would probably worth three times what it\u2019s worth now. So you\u2019re getting a huge bargain. Come to Malaysia. There are great opportunities for Chinese investors. There\u2019s still a lot of room you can find great bargains. There\u2019s still a lot of undiscovered gems. Challenges: It\u2019s not easy, but that\u2019s why I think Southeast Asia is a perfect testbed for Chinese companies to globalize or internationalize using Southeast Asia because it will challenge your management capabilities. Sometimes you overlook the opportunities in your own backyard. I think for a lot of folks in China, the US, and Europe are always great markets. But don\u2019t forget, the friendly neighborhood in the south \u2013 Southeast Asia, with 700 million people, all very young, sometimes gets overlooked. I expect those investment flows to definitely increase and I think this conference is a nice first step to accelerate that process. Davide Cali, Founder and Director of CrossFund:One of the problems in Southeast Asia is the lack of talents, tech talents. There cannot be a lot of startups without tech talents. I think this is one of the strongest points that Vietnam has in the region. I\u2019m from tech background. So tech scene is the first thing I see. There are 500,000 developers in Vietnam, and they are growing by 10 percent every year and there are about 1 million people work in ICT. I don\u2019t think you can find this number easily. Every country may have their strong point, Vietnam has strong developers, especially for AI and blockchain. I think it will become the tech hub for Southeast Asia in the future. This is my prediction. There are also some challenges. The main problem in Vietnam is there is no highway, the first deepwater harbor was just opened. Now they\u2019re building the second one. So if the country doesn\u2019t invest massively in infrastructure, they do risk to miss the opportunity and gets stuck in the middle income trap. Winston Utomo, Founder and CEO of IDN Media:First, Indonesia is the large country. We are the fourth most populous country, with 270 million population and growing. From the 270 million, 210 million are internet users, which grows very fast in the past few years. Based on many analysis, and research report, we will become the fourth or fifth biggest economy in the world by 2045. Second, we have abundant natural resources, coal, oil, natural gas. in fact, we are the biggest coal producer in the world. but the government has made a big push as well towards renewable energy. The third is political stability. I think that\u2019s one good thing about Indonesia, especially in the past 10 years. The government has been quite friendly regarding businesses, and foreign direct investment. The fourth one is economic growth. This year\u2019s projection is around 5 percent, which is quite good and higher than many other regions. Last year\u2019s growth was more than 5 percent. And the last reason is the rising middle class. Based on the report from the World Bank, Indonesia has about 55 to 60 million. So these are the reasons why Indonesia is prime for investment from China and other parts of the world. ORIGIN Conference: Southeast Asia in Spotlight at BEYOND Week 2023"}, {"url": "https://technode.global/2023/05/22/sc-takes-enforcement-action-against-huobi-global-for-illegally-operating-digital-asset-exchange-in-malaysia/", "page": 32, "title": "SC takes enforcement action against Huobi Global for illegally operating digital asset exchange in Malaysia", "contents": "Malaysian regulator the Securities Commission Malaysia (SC) has taken action against Accordingly, the SC has issued a public reprimand against Huobi Global Limited, and Leon Li for operating illegally in Malaysia, according to SC statement on Monday. In addition, the SC has ordered Huobi Global Limited to stop its operations in the country, including to disable its website and mobile application on several platforms such as Apple Store, Google Play and any other digital application platform. Huobi Global Limited has also been directed to cease circulating, publishing or sending any advertisements, whether in email or on social media platforms, to Malaysian investors. Leon Li, as the Chief Executive Officer, has also been specifically ordered to ensure that the above directives are carried out. This decision comes after concerns about the platform\u2019s compliance with local regulatory requirements and protecting investors\u2019 interests. The SC views this breach seriously, as operating a DAX without obtaining the SC\u2019s registration as a Recognized Market Operator (RMO) is an offence under Section 7(1) of the Capital Markets and Services Act 2007. The SC urges Malaysian investors who have been using Huobi Global Limited to immediately cease trading through its platform, withdraw all their investments, and close their accounts. Investors are strongly advised to invest and deal with RMOs that are registered with the SC. Registered RMOs have undergone strict regulatory scrutiny and are required to adhere to strict guidelines so that investors are protected under Malaysia\u2019s securities laws. Those who invest with unlicensed or unregistered entities or individuals are exposed to risks such as fraud and may not be protected under Malaysian securities laws. Investors should exercise caution when choosing investment platforms and to always do their due diligence before making any investment decisions. Additionally, investors should be wary of investment schemes that promise high returns with little risk, as they may be too good to be true. By taking these precautions, investors can safeguard their investments and avoid falling victim to fraudulent schemes. Malaysia\u2019s Bintai Kinden ventures into digital assets"}, {"url": "https://technode.global/2023/05/17/futu-launches-trading-platform-moomoo-in-malaysia/", "page": 32, "title": "Futu launches trading platform Moomoo in Malaysia", "contents": "Futu Holdings LimitedThrough inclusive finance, Malaysia investors will enjoy lifelong access to a holistic suite of self-help educational resources, free-for-all market data and a supportive global community to unlock more opportunities, Futu said in a statement. Futu Senior Partner and Senior Vice President Robin Xu said this is the second Southeast Asia (SEA) launch. He said the firm\u2019s research and development capabilities and business success in serving over 20 million users worldwide allow the firm to provide better tech-driven solutions to the market, enabling users to be equipped with the necessary access, tools and knowledge to make informed decisions along the investment journey. It is noted that the Company\u2019s wholly-owned Malaysian subsidiary has recently received the Approval-In-Principle (AIP) for the Capital Markets Services License (CMSL) from the Securities Commission Malaysia (SC), marking a giant leap in its Southeast Asia business expansion plans. Attaining the AIP from the SC further reinforces the company\u2019s overall mission and vision to make investing easy and accessible to both investors and stakeholders. \u201cWe are thrilled to have been granted the AIP from the SC, as it is a validation of our mission and vision to make investing more convenient and accessible to investors worldwide,\u201d said Xu. Following its success in Singapore and other Asia Pacific (APAC) markets, he said the firm is well-equipped to bring its international know-hows in transforming the digitized investment landscape in Malaysia. \u201cWith its 32.7 million well-structured population, business-friendly environment, educated talent pool and high digital literacy levels, the country will serve as a catalyst for growth, \u201cThe company values Malaysia as a strategic location to roll out its cutting-edge super investment platform,\u201d he added. According to the statement, education is the cornerstone for lifelong learning and personal development. Designed to empower retail investors of all levels to uncover opportunities that are exclusive to the investment platform, moomoo is packed with highly intuitive tools, features and functions. With moomoo, retail investors are encouraged to also adopt a self-directed learning approach to securities and derivatives trading. This will be the first such financial literacy solution to roll out in Malaysia by a global technology company that believes in making investing right at the fingertips via digitalization. Meanwhile, with its global presence and know-how in providing digitized investment services across major markets, the company sees its unique digitized ecosystem that aggregates 20 million investors worldwide would promote financial inclusion in Malaysia, and has a positive effect on driving the industry forward.  By fostering a synergistic ecosystem with thousands of public companies, fund houses, media, and market practitioners, it sees the moo community would be a winning strategy for the new market and a pathway to business success. Futu is an advanced fintech company upgrading the investing experience by offering fully digitalised financial services in multiple markets. The firm was listed on Nasdaq on March 8, 2019. It offers market data, financial news, interactive social features, and investor education on its proprietary one-stop digital platforms, Futubull, and moomoo. Its subsidiaries provide clients with investing services, including trading and clearing services for the United States, Hong Kong SAR, China Connect, Singapore, and Australia stocks, margin financing, and securities lending, and wealth management. ASX-listed Novatti acquires Malaysia FinTech firm ATX Group for up to $7.4M"}, {"url": "https://technode.global/2023/05/16/vantage-data-centers-plans-to-invest-3b-to-build-second-data-center-campuses-in-malaysia/", "page": 32, "title": "Vantage Data Centers plans to invest $3B to build second data center campuses in Malaysia", "contents": "Vantage Data Centers (Vantage)Upon completion, the KUL2 campus will deliver 256MW of IT capacity to meet the growing customer demand for hyperscale data center services, Vantage said in a statement. Located adjacent to Vantage\u2019s existing campus (KUL1) in Cyberjaya, the campus will be sited on nearly 35 acres and will include 10 facilities across 256,000 square meters (2.75 million square feet). Strategically located to provide low-latency connectivity to major cities in the region, including Singapore, Bangkok and Jakarta, the state-of-the-art mega campus will be built to the highest standards of performance, reliability and security, with multiple layers of physical and virtual security measures in place to protect against threats. The first facility is planned to open its doors in the fourth quarter of 2025. In addition, Vantage is expanding its KUL1 campus with a fourth 16MW facility that is currently under development. Combined, both campuses will deliver a total of 287MW of information technology (IT) capacity to meet the demands of hyperscalers, cloud providers and large enterprises. \u201cVantage has been expanding our footprint in Malaysia since we entered the dynamic Asia-Pacific (APAC) market, \u201cOur positive experience in Cyberjaya has encouraged us to take further steps to advance the city\u2019s digital infrastructure by building our largest hyperscale campus in the region,\u201d said Giles Proctor, Chief Operating Officer of Vantage\u2019s APAC business. With exciting opportunities ahead, he said Vantage is committed to driving innovation, sustainability and growth in the region to meet the demands of both global and local customers. At a ceremony on Tuesday, Vantage signed an agreement with Cyberview, the tech hub developer of Cyberjaya, to move towards implementation of this investment. \u201cThe development of KUL2 as Vantage\u2019s second data center campus serves as proof that Malaysia has emerged as the most desired destination for data center investments in the Asia Pacific region,\u201cWe are confident that Vantage\u2019s efforts will assume a crucial role in propelling Malaysia to achieve its goal of becoming a digital nation and realizing a 22.6 percent gross domestic product (GDP) growth from the digital economy by 2025,\u201d said Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA). As the foremost provider of comprehensive investment solutions and a strategic investment partner in Malaysia, he said MIDA is dedicated to supporting Vantage\u2019s success and furthering the country\u2019s position as a prominent digital hub in the region. Mahadhir Aziz, Chief Executive Officer of Malaysia Digital Economy Corporation (MDEC), said with Vantage\u2019s investment in Malaysia, the firm is one step closer towards its goal of firmly establishing Malaysia as the digital hub of ASEAN. \u201cThe Malaysia Digital (MD) national strategic initiative aims to transform the nation\u2019s digital capabilities, enhancing our value proposition to attract digital investments and boost the digital economy,\u201d he said. He said the agency is committed to supporting Vantage\u2019s presence here and the growth of the nation\u2019s data center industry via various PEMANGKIN initiatives. \u201cVantage\u2019s new data center campus not only strengthens Malaysia\u2019s digital infrastructure but also accelerates our ongoing digital transformation, \u201cThis move signifies continued confidence in Malaysia\u2019s robust and enabling data center ecosystem, digitally skilled talent and world-class infrastructure,\u201d he added. Vantage currently has seven campuses across the region that are either operational or under development. The firm powers, cools, protects and connects the technology of the world\u2019s well-known hyperscalers, cloud providers and large enterprises. It develops and operates across five continents in North America, Europe, the Middle East and Africa (EMEA) and APAC. Malaysia\u2019s MN Holdings partners China\u2019s DC-Science to set up high performance data center in Malaysia"}, {"url": "https://technode.global/2023/05/12/malaysias-aerodyne-plans-to-raise-up-to-200m-in-series-c-round-ipo-in-two-to-three-years-time/", "page": 32, "title": "BEYOND EXPO 2023: Malaysia\u2019s Aerodyne plans to raise up to $200M in Series C round; IPO in two to three years\u2019 time", "contents": "Malaysia-based drone service provider \u201cWe are targeting $100 million to $200 million,\u201d its founder and group Chief Executive Officer Kamarul A Muhamed, who is also the founder, told Kamarul, however, did not disclose the timeline for the funding round but added that the funding round will be for expansion and merger and acquisitions (M&A). \u201cM&A is for market access and the technology,\u201d he added. Aerodyne Aerodyne\u2019s plan to raise Series C round also comes after its The company announced then it has raised $30 million as part of its latest bridging round. Its long-time client Malaysia-based national oil firm Petronas, via its corporate venture capital arm Petronas Ventures, has led the funding round. The round also included a follow-on investment by Kumpulan Wang Persaraan Diperbadankan (KWAP), who initially invested in the group back in 2020. Meanwhile, at a panel discussing AgriTech at the BEYOND Sustainability Summit, Kamarul also shared that the next milestone for the company will be its initial public offering (IPO). \u201cIt will be in two to three years\u2019 time,\u201d he said. He later told Aerodyne is backed by Japan investors including VC firm Real Tech Fund, industrial equipment supplier Kobashi Holdings, and drone and robotics tech firm ACSL as strategic partners. Its investors include InterVest, Kejora Ventures, North Summit Capital, Indorama Corp, Leave a Nest, Axiata Digital Innovation Fund, Gobi Ventures, 500 Global, and ventureTECH, among others. In an earlier interviewAccording to Drone Industry Insights, Aerodyne ranked first on a list of the top global remote-sensing drone service providers in 2021 and 2022. Aerodyne is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider with operations in more than 45 countries, Kamarul said during his presentation on Thursday. Malaysian drone tech firm Aerodyne explores dual-listing as it starts IPO process"}, {"url": "https://technode.global/2023/05/12/airasia-superapp-and-foodpanda-join-forces-for-groundbreaking-partnership/", "page": 32, "title": "Airasia Superapp and foodpanda join forces for groundbreaking partnership", "contents": "The This strategic partnership enables both platforms to leverage on each other\u2019s strengths, whereby airasia Superapp\u2019s ride-hailing service, airasia ride is made available on the foodpanda app, the duo said in a statement. In turn, foodpanda \u2013 the largest on-demand food and grocery delivery service in Asia outside China \u2013 will be powering the travel superapp\u2019s food delivery service, connecting millions of airasia Superapp users to foodpanda\u2019s extensive network of more than 100,000 merchants and thousands of delivery partners. With this, airasia Superapp\u2019s food offerings will move towards a dine-in model. \u201cWe are laser-focused on fulfilling our travel superapp vision, and we are glad to have found positive synergy with a strong delivery partner as we move on to a dine-in model for our food business,\u201d said Tony Fernandes, Chief Executive Officer of Capital A, the parent firm of airasia Superapp. According to him, this platform partnership will enable both parties to leverage on each others\u2019 strengths \u2013 foodpanda\u2019s food and grocery delivery prowess and airasia Superapp\u2019s ride-hailing services backed by a complete travel superapp ecosystem, both a necessity for travellers and everyday users of both apps alike. \u201cThere is so much potential where both airasia Superapp and foodpanda can further explore together, such as payment solutions via BigPay, joint loyalty programs with airasia rewards, possible subscription plans and much more, \u201cWe are happy to kick-off this partnership today with our food and ride-hailing collaboration in Malaysia,\u201d he added. Jakob Angele, Chief Executive Officer of foodpanda, said the opportunity to bring together two of Malaysia\u2019s biggest household brands is a special one for them. \u201cWe\u2019ve both built great services that Malaysian customers have grown to rely on and love \u2013 so this is a natural partnership to jointly offer great value, variety and convenience to all our customers,\u201d he said. Mohamad Hafidz Mohd Fadzil, acting Chief Executive Officer of airasia Superapp, added that as a regional travel superapp, they are all about providing a seamless and convenient experience to users, who are primarily travellers across the Asean region. \u201cWe are a one-stop centre for everything they need, from flights, accommodations, rides to and from the airports and hotels, to even culinary experiences via food delivery or dine-in reservations, \u201cWe look forward to further excelling in the superapp space with this landmark partnership today,\u201d he said. The airasia Superapp is the one-stop travel platform business of Capital A offering consumers over 15 lines of products and services via the Superapp as well as the airasia. com website. Powered by data and technology, the airasia Superapp leverages its digital ecosystem of 51 million users and 40 million downloads to generate a personalized and seamless consumer experience. Users can also engage in real-time conversations, join like-minded communities, play games and much more. Foodpanda is a on-demand delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, asFoodpanda operates in more than 300 cities across 11 markets in Asia Pacific \u2013 Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia and Myanmar. Foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter"}, {"url": "https://technode.global/2023/05/11/mobilityone-partners-with-wibmo-to-issue-mastercard-prepaid-cards-through-wibmo-hexa/", "page": 32, "title": "MobilityOne partners with Wibmo to issue Mastercard prepaid cards through Wibmo Hexa", "contents": "WibmoWith this partnership, Wibmo and MobilityOne are all set to foray into the Malaysian prepaid card market and offer various prepaid programs catering to consumer, corporate, government and the health sector, both parties said in a statement on Tuesday. According to the statement, the partnership is to leverage the growing opportunities in the country\u2019s prepaid card market. By using Wibmo\u2019s feature-rich and API-first prepaid card platform Hexa, MobilityOne will be able to support various prepaid cards like fleet cards, employee/corporate benefits, subsidy cards, gift cards, travelers\u2019 cards, and other business to business (B2B) and business to business to consumer (B2B2C) prepaid solutions. The Hexa platform is equipped to handle key business use cases and comes pre-integrated with Wibmo\u2019s proven Access Control Server (ACS) for real-time fraud detection and prevention using its dynamic CNP Risk Engine along with the prowess of EMV 3D secure protocol\u2019s built-in features.  This partnership has been entered into at a time when the Malaysian prepaid card market is expected to record a compound annual growth rate (CAGR) of 14.4 percent, an increase from $6.06 billion in 2022 to $10.40 billion by 2026 according to PayNXT360\u2019s analysis. MobilityOne has been providing prepaid card solutions to various corporates in Malaysia. With Hexa, Wibmo\u2019s API-first prepaid card platform, MobilityOne will support all prepaid form factors, be it a physical, virtual card, or a mobile wallet, as well as many advanced features such as just-in-time funding, deferred authorization, and others.   \u201cWe are thrilled to share the news of our collaboration with MobilityOne, as we make our foray into the Malaysian prepaid card market,\u201cOur goal is to empower the market with a tech-integrated payment system, and we believe that the time is ripe for disruption,\u201d said Wibmos Chief Executive Officer Suresh Rajagopalan. According to him, the Hexa platform from Wibmo will serve as the foundation for MobilityOne to offer a variety of Mastercard-based prepaid products. \u201cBy joining forces, we aim to make a substantial impact on the payment card industry in Malaysia and broaden our footprint across Southeast Asia,\u201d he added. MobilityOne\u2019s Chief Executive Officer Hussain A Rahman said as a leading electronic transactions and payments solution provider in Malaysia, the firm is committed to enhancing its payment offerings and expanding its presence in the market. \u201cWe are proud to have obtained our license to issue Mastercard prepaid cards in Malaysia in 2021, and since then, we have been providing prepaid card solutions to various entities in the country,\u201d he said.  In choosing a partner, he said the firm found Wibmo\u2019s Hexa Platform to be the ideal choice due to its comprehensive technology stack that offers issuing and acquiring capabilities for our B2C and B2B use cases. Additionally, he said Wibmo\u2019s auxiliary offerings in 3D-Secure, fraud detection, identity management, and digital banking make them a complementary partner to go to market with. Wibmo Inc. , a California company, is a global full-stack PayTech company, an industry leader in payment security and digital payments in emerging markets, partnering with 160+ banks & fintech across 30+ countries. The company is the largest authentication service provider in India, one of the world\u2019s leading digital payments markets. It also offers fraud and risk management solutions, mobile payments, prepaid solutions, and a host of merchant-acquiring services. MobilityOne Sdn Bhd, a subsidiary of a London-listed company headquartered in Malaysia, is a virtual distributor of mobile prepaid reload and bill payment services in the country. With connections to various service providers across industries such as banking, telecommunications, utilities, government agencies, and transportation, MobilityOne operates through multiple distribution channels including mobile wallets, e-commerce sites, EDC terminals, automated teller machines, kiosks, and internet & mobile banking. Holding licenses in regulated spaces including acquiring, e-money, remittance, and lending, MobilityOne offers a range of services to the market, including wallet, internet, and terminal-based payment services, e-money, remittance, lending, and custom fintech ecosystems for communities. Mastercard launches new data and services hub in Malaysia to serve the Asia Pacific region"}, {"url": "https://technode.global/2023/05/10/malaysian-government-launches-mystartup-nxt-to-create-sustainable-startup-ecosystem/", "page": 32, "title": "Malaysian government launches MYStartup NXT to create sustainable startup ecosystem", "contents": "Ministry of Science, Technology and Innovation (MOSTI)This series of micro-conferences is a continuation of the successful roadshow initiative by MYStartup, Cradle said in a statement. Starting with Cyberjaya, MYStartup NXT will be held across the country and proceed with Sarawak, Penang, and finally conclude in Sabah. According to the statement, the micro-conferences aim to engage local startups across Malaysia, enabling access to the startup ecosystem support and benefits that will empower them to scale up to the next level. It is noted that MYStartup is on a mission to create over 5,000 quality startups by 2030, and with Kuala Lumpur already being one of the top 25 emerging ecosystems globally, there is huge potential for other parts of Malaysia that must be actioned on. \u201cMYStartup NXT is part of the government\u2019s effort to cultivate accessible innovation and support long-term startup development, in line with Malaysia MADANI\u2019s aspirations, one of which is to build an innovative and high-tech nation, \u201cThus, the launch of the MYStartup Annual Report today will assist the government to realise these aspirations through high impact programs,\u201d said Minister of Science, Technology and Innovation Chang Lih Kang. According to Ahmad Kashfi Alwi, Cradle Senior Vice President of Ecosystem Development, MYStartup NXT series will enable and grow the country\u2019s startup ecosystem equally and ensure that every local startup community. \u201cWhether from the Klang Valley, Northern or Southern region, East Coast or even East Malaysia, they do not miss out on receiving benefits from programs organized by MYStartup,\u201cMOSTI through Cradle reaffirm the commitment to create an ever-sustainable ecosystem that is inclusive, to see all local startups flourish and scale at a competitive level,\u201d he added. MYStartup has also on Tuesday introduced MYStartup Dev, a data-centric, community-driven platform exclusively designed to connect tech talents with talent development partners and upskilling programs. MYStartup Dev will guide and teach new skills for career advancement, nurture networking with industry experts, and stay current with the latest skills and technologies, ultimately unlocking the full potential of young local tech talents in Malaysia. Throughout the NXT tour, states and federal entities are encouraged to communicate continuously with each other to achieve the goal of cultivating and nurturing more startups throughout the country. MYStartup Strategy is a national initiative by the MOSTI and Cradle. It consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. The programs aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and opportunity to highlight their company profile to attract foreign investors. The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. This effort is also in tandem with MOSTI\u2019s target of creating 5,000 start-ups and producing five unicorn status companies by 2025. MYStartup partners DNB to solve corporate problems through MYStartup Hackathon 2022"}, {"url": "https://technode.global/2023/05/10/are-biometrics-truly-the-key-to-securing-malaysias-banking-sector/", "page": 32, "title": "Are biometrics truly the key to securing Malaysia\u2019s banking sector?", "contents": "The cyber threat landscape is never static. Phishing scams were already a pressing global issue for the banking industry, with Malaysia recording It\u2019s also worth highlighting that authorities around the world are realizing that SMS OTPs \u2014 which are susceptible to phishing attacks \u2014 are no longer fit for today\u2019s fast-paced digital landscape, and swift action must be taken to implement robust security measures. This is especially evident in Malaysia, where its central bank is Malaysia is certainly on the right path toward a more secure banking landscape. But, if banks don\u2019t implement the right technologies, these new regulations may unintentionally create more friction in the overall customer banking experience. Or, if other banks choose to prioritize the experience above all else, they may unintentionally choose technologies that are less secure in the long run. One can\u2019t help to wonder \u2014 what\u2019s the next course of action for banks? Is biometric technology truly mature enough to be the silver bullet that provides airtight security and seamless customer experiences that banks are aiming to achieve?Secure, convenient, and seamless. These are just some of the benefits that have made biometric authentication methods increasingly popular in both consumer and enterprise systems. In a world where cyber threats are becoming increasingly sophisticated and prevalent, biometric authentication has emerged as a popular solution to the challenge of identity verification \u2014 leveraging unique biological or behavioral traits of an individual to verify their identity. While biometric verification is undoubtedly secure and convenient, it is imperative to understand that adopting such an authentication method, alone, is not a fool-proof solution to cybersecurity. For instance, facial recognition without advanced liveness detection, which ensures that the picture taken is from a live person at the point of capture, is vulnerable to deepfake spoofing. A multi-factor verification approach \u2014 which uses a combination of verification technologies when high-risk transactions are detected \u2014 can provide organizations with an additional layer of security that ensures the protection of their customers against cyber-attacks without compromising on convenience. As part of their effort to prevent the different types and levels of cyber threats, financial institutions have understandably grown to check more than just ID documents for identity verification. As such, it has become common practice for organizations to layer countless risk signals such as user\u2019s name, IP address, phone, and email. There is a problem with this, too, though. Countless layering leads to a lack of data integration that cuts across different solutions, which not only hinders the efficiency of cybersecurity checks but increases the risk of non-compliance with Know-Your-Customer (KYC) and anti-money laundering (AML) regulations. Partnering with multiple risk vendors can complicate the process of managing workflows as each vendor may have its own framework. This can result in a lack of seamless integration. Furthermore, relying on multiple solutions makes it difficult for organizations to scale the systems as it grows, thus increasing operational resources and costs. The onus, therefore, is on banks to implement the right technologies. To do so, banks can implement multi-factor and risk-based authentication that orchestrates only the necessary risk signals and technologies for identity verification. For instance, logging into a bank\u2019s mobile app might start with a device check, and if the user\u2019s phone was used multiple times to open accounts, a more rigorous set of checks such as face verification would be initiated. In addition to this, financial institutions can also consider implementing multimodal biometrics such as fingerprint and facial authentication that can be used for high-risk profiles or financial transactions above certain thresholds. This orchestration allows companies to provide a frictionless experience for legitimate customers and increase scrutiny for higher-risk individuals. It results in easier logins, better fraud deterrence, and reduced cost on manual investigations \u2014 since they can use lower-cost risk signals first to filter out a lot of the fraudsters, before running more advanced identity verification processes such as biometric authentication. To enable this, banks can partner with experienced integrated identity verification providers to unlock access to a comprehensive range of online identity verification solutions and any necessary manual reviews \u2014 which are triggered when the verification process requires a final decision from analysts to ensure reliable user verification and remote fraud detection. Furthermore, organizations can also have the power to customize their identity verification and KYC compliance workflows based on the changing landscape and requirements, risk tolerance, as well as regulatory standards in the different markets. Most importantly, as these solutions don\u2019t require any additional steps from the end user, a smooth onboarding process and frictionless customer experience can still be achieved \u2014 a crucial aspect, since a seamless digital experience is one of the top priorities for consumers in today\u2019s digital landscape. Migrating away from SMS OTPs and enforcing secure authentication methods is a step in the right direction for Malaysia\u2019s shift towards a cashless society. As our online infrastructures become increasingly open and interconnected, the stakes are even higher as cyberattacks can have far-reaching and severe implications that can spread rapidly, affecting not just individual businesses but entire economies, leading to significant damage and potentially long-lasting consequences. It is therefore critical for organizations to continuously tap into advanced technologies to prevent further instances of fraud in the banking landscape \u2014 securing a safer banking experience for everyone. Frederic HoTechNode Global INSIDERThe cost of inaction: Why cybersecurity could make or break your business"}, {"url": "https://technode.global/2023/05/10/mastercard-launches-new-data-and-services-hub-in-malaysia-to-serve-the-asia-pacific-region/", "page": 32, "title": "Mastercard launches new data and services hub in Malaysia to serve the Asia Pacific region", "contents": "Global payment firm Mastercard said in a statement that the hub will also nurture a talent pipeline across a range of capabilities focusing on data science, product development and payments consulting. According to the statement, Mastercard\u2019s D&S experts globally work with nearly 4,000 clients in over 120 countries, drawing on Mastercard\u2019s extensive expertise, data, and technology to offer solutions that cover everything from hyper-personalized loyalty programs, to product prototyping, to end-to-end marketing solutions that span the customer journey. Mastercard D&S Hubs are  knowledge centers dedicated to this arm of the business and are located around the world, and the new hub in Kuala Lumpur will build on the success of other hubs in Asia and globally. The hub in Kuala Lumpur will support the organization in the provision of solutions to partners in the areas of cybersecurity, credit risk, and data analytics to help local clients and those across the region to scale and enable their businesses\u2019 potential. \u201cMalaysia is committed to becoming a leader in shaping digitalization across Asia Pacific (APAC),\u201d said Fahmi Fadzil, Minister of Communications and Digital, Malaysia. \u201cThe launch of Mastercard\u2019s Data & Services Hub in Kuala Lumpur is a very good opportunity for us to become a more integral part of the region\u2019s digital landscape, while helping to strengthen our local talent pool in this increasingly important part of the digital economy,\u201cWe look forward to building on our relationship with Mastercard to help create more mutually beneficial opportunities in the future,\u201d he added. The launch reflects Mastercard\u2019s commitment to bring global expertise and innovation to the APAC region as well as nurture homegrown talent to thrive in the digital economy. The new hub will become part of a growing global team that includes thousands of data scientists, engineers and consultants, and will support businesses and governments in Malaysia and APAC to make more data-driven decisions and optimize performance and profitability. \u201cMastercard is passionate about offering next-generation services and value to customers \u2013 from retail and commerce, financial and non-financial institutions to governments \u2013 empowering them to solve business problems from end-to-end,\u201d said Ari Sarker, President, Asia Pacific, Mastercard. \u201cAPAC is a powerhouse of economic growth, and we\u2019re seeing many of the emerging markets across the region leapfrog some of the more conventional steps towards digitalization, \u201cThis kind of rapid change demands dedicated expertise\u2014the type of which will be offered by Mastercard\u2019s newest Data & Services Hub in Kuala Lumpur, which will support the organization in servicing clients from Southeast Asia to China, Japan, Australia and New Zealand,\u201d he added. The launch of the D&S Hub comes following the announcement in March of a partnership between Mastercard and Universiti Teknologi Malaysia (UTM) to build a Cyber Innovation Hub. Leveraging Mastercard\u2019s cybersecurity expertise alongside UTM\u2019s education infrastructure, the new facility will offer skills training and courses on cybersecurity related fields to students and mid-career professionals, aiming to build a cyber-ready workforce and strengthen the country\u2019s digital resilience. Mastercard Music Pass NFT opens access to groundbreaking Web3 training  program for emerging musical artists"}, {"url": "https://technode.global/2023/05/09/city-university-of-hong-kong-launches-hk-tech-300-southeast-asia-start-up-competition/", "page": 32, "title": "City University of Hong Kong launches HK Tech 300 Southeast Asia Start-up Competition", "contents": "City University of Hong KongA large-scale flagship innovation and entrepreneurship programm by City University of Hong Kong, HK Tech 300 was organized with a total commitment of up to HK$600 million ($76.46 million), City University of Hong Kong said in a statement. The HK Tech 300 SEA Competition is being held in partnership with universities and incubators in the region, including Universiti Malaya (UM) and Universiti Putra Malaysia (UPM) from Malaysia, Universiti Brunei Darussalam (UBD) from Brunei Darussalam, Chulalongkorn University from Thailand, Malaysia Digital Economy Corporation (MDEC), Selangor Information Technology and Digital Economy Corporation (SIDEC), and various chambers of commerce. Through these partners, the competition will bring together the most promising start-ups in the region to join the competition. The top ten winners will each be awarded Angel Fund investment of up to HK$1 million ($130,000), providing a significant boost for their entrepreneurial endeavours. \u201cWe are thrilled to expand our successful HK Tech 300 initiative to Southeast Asia,\u201d said Professor Way Kuo, President and University Distinguished Professor of City University of Hong Kong. \u201cThis competition presents a unique opportunity for aspiring entrepreneurs in the region to gain exposure and secure funding for their projects, and will help translate City University of Hong Kong\u2019s outstanding research into applications, which can have a transformative impact on the entrepreneurship landscape here,\u201cWe are excited to witness the positive impact of HK Tech 300 on the region and are committed to supporting and empowering innovative ideas in this part of the world,\u201d he added. Since its launch in March 2021, the HK Tech 300 program has made significant strides towards its goal of creating 300 start-ups within three years. With a total allocation of HK$500 million ($63.71 million) in 2021, the program is a strategic move to translate City University of Hong Kong\u2019s groundbreaking research results and intellectual property into practical applications, while simultaneously providing valuable opportunities for young talent and aspiring entrepreneurs to grow and learn. To further support the program, the university added an additional of HK$100 million ($12.74 million) this year. To date, HK Tech 300 has cultivated more than 560 start-up teams, each of which received a HK$100,000 ($12,743) Seed Fund, and it has provided up to HK$1 million ($130,000) in Angel Fund investment to more than 110 start-up companies. Riding on the success and positive impact of the program, City University of Hong Kong has expanded the HK Tech 300 initiative to Southeast Asia, with Malaysia chosen as the location for the launch of the inaugural HK Tech 300 SEA Competition, demonstrating its vision and determination to make HK Tech 300 the biggest university-based innovation and entrepreneurship program in Asia. The expansion aims to promote technology transfer and commercialization in the region, showcasing the university\u2019s commitment to support Southeast Asian start-ups in expanding their business to Hong Kong, Mainland China and the whole region, leveraging the unique advantages and resources available in Hong Kong. \u201cA thriving small and medium enterprise (SME) and start-up ecosystem is essential for sustainable digital development,\u201d said Khaled Mohamed Nordin, Minister of Higher Education, Malaysia. \u201cThe Malaysian Higher Education Ministry welcomes City University of Hong Kong\u2019s decision to launch this regional edition of HK Tech 300 in Malaysia, as it demonstrates the success of Malaysia\u2019s efforts to accelerate the digital economy and produce knowledgeable graduates with excellent marketability,\u201cI believe the exposure and guidance they will receive from the competition, will enable them to contribute to the expanding digital ecosystem,\u201d he added. Hong Kong\u2019s FWD partners Malaysia\u2019s Artem Ventures to launch $10.22M fund"}, {"url": "https://technode.global/2023/05/08/cimb-introduces-suite-of-ev-financial-solutions-in-malaysia-to-drive-ev-adoption/", "page": 33, "title": "CIMB introduces suite of EV financial solutions in Malaysia to drive EV adoption", "contents": "Malaysian lenders CIMB said in a statement that the set of EV solutions address the needs of consumers across every aspect of owning an EV, including financing, insurance protection and a range of exclusive privileges. In supporting the shift towards sustainable mobility, it said the solutions make it easier for consumers to purchase and own EVs with confidence, knowing that they have access to a range of value-add benefits unique to CIMB customers. \u201cThrough this market leading offering, we are able to deliver greater value by making the customer\u2019s EV ownership journey accessible, convenient and even more rewarding,\u201d said Effendy Shahul Hamid, Chief Executive Officer, Group Consumer and Digital Banking of CIMB Group. He also said the bank will continue to offer innovative sustainable finance solutions that encourage Malaysians toDuring the introductory campaign which runs until April 30, 2024, customers will enjoy a variety of financing, insurance and other benefits. These include preferential fixed rates as low as 1.98 percent per annum on financing for EVs, and up to a 90 percent margin of financing with a repayment period of up to nine years. The bank is also providing a \u2018green lane\u2019 for expedited approvals within eight hours. Beyond financing, CIMB and its bancassurance partner Berjaya Sompo Insurance Berhad have teamed up to offer greater value and first-in-market complimentary EV benefits on motor insurance. Tailored to CIMB customers who take up Secure Motor insurance with Berjaya Sompo through CIMB Auto Finance Centres, the benefits are available for both new and used EVs of up to eight years old. As part of the collaboration, CIMB customers will enjoy a 5 percent discount on EV premium rates, as well as a 10 percent cash rebate on premiums. EV owners will also be entitled to complimentary comprehensive EV pack coverage exclusive to CIMB customers. This includes coverage on EV home wall chargers of up to MYR15,000 ($3380) in the  event of incidents such as fire, theft, lightning, explosions and flooding, as well as MYR50,000 \uff08$11,268\uff09 in personal liability coverage on accidents whilst using electric vehicle chargers. On top of these, the coverage includes unlimited towing to the nearest EV charging station. In addition, CIMB is also offering an additional sign-up benefit of free Touch \u2018n Go radio frequency identification (RFID) tags for those that do take up EV Financing with CIMB. At the same time, CIMB customers can enjoy a 0 percent Flexi Payment Plan of 12 months when they purchase an EV home wall charger from car dealers using selected CIMB credit cards. Given the growing availability of EV models and infrastructure in the market, coupled with the extension of Malaysia\u2019s EV tax incentives and exemption, CIMB anticipates substantial growth in demand for EV financing. CIMB recorded strong year-on-year green vehicle financing growth of 350 percent in 2022, and it intends to accelerate growth in this segment as part of its sustainable financeCIMB Group aims to mobilize MYR60 billion ($13.52 billion) in Green, Social, Sustainable Impact Products and Services (GSSIPS) across its markets by 2024. As part of its EV initiatives, CIMB recently installed its first EV charging stations at its CIMB Preferred branch at Plaza Damansara. The bank will soon be adding more EV charging stations for its customers. With the growing awareness and interest in environmental, social and governance (ESG) among consumers, CIMB offers a complete suite of sustainable finance solutions that makes it easier for consumers to adopt sustainable practices in an accessible and rewarding manner. Besides green financing for homes or vehicles, this also includes other ESG-aligned offerings such as products that enable financial inclusion, wealth products and environmentally-focused deposits. Malaysia\u2019s largest lender Maybank introduces financing solution for electric vehicle"}, {"url": "https://technode.global/2023/05/08/indonesia-and-malaysia-announce-commercial-launch-of-cross-border-qr-payment-linkage/", "page": 33, "title": "Indonesia and Malaysia announce commercial launch of cross-border QR payment linkage", "contents": "Bank Indonesia (BI) BNM said in a statement that the commercial launch of this linkage follows from the successful completion of the pilot phase of the linkage announced on January 27, 2022. According to the statement, the commercial launch of this linkage sees the number of participating financial institutions which include non-banks increase. It said this will enable more Indonesians and Malaysians to make instant retail payments in either country by scanning Quick Response Code Indonesian Standard (QRIS) or DuitNow QR codes at physical stores or online merchants using services offered by participating financial institutions. \u201cASEAN is more connected now than ever. Many more users from Malaysia and Indonesia will benefit from a secure, more seamless and more efficient experience to make and receive cross-border payments, \u201cThis in turn has significant potential to boost economic activities, including tourism spending in our two countries,\u201d BNM Governor Nor Shamsiah Mohd Yunus said. According to her, the payment linkage will also help expand markets for some businesses and facilitate increased settlements in local currency, thereby improving financial outcomes. She also said the QR payment linkage between Malaysia andMeanwhile, governor of Bank Indonesia Perry Warjiyo said that the cross-border QR payment linkage between Indonesia and Malaysia is concrete evidence of strengthened cooperation on Regional Payment Connectivity to promote faster, cheaper, more transparent and more inclusive cross-border payments, particularly for the benefits of micro, small and medium enterprises. \u201cThe linkage aligns with the G20 initiative in establishing the Roadmap for Enhancing Cross Border Payments, and serves as a significant deliverable of Indonesia\u2019s chairmanship of the ASEAN in 2023, as well represents another milestone of the Indonesian Payment System Blueprint 2025, \u201cIt provides more options for users in cross-border payment transactions and serves as a key to improve efficiency, to promote digital economy and financial inclusion in the region, as well as to maintain macroeconomic stability by promoting more extensive use of local currency for bilateral transactions under the Local Currency Transaction Framework,\u201d he added. According to the statement, the QR payment linkage will strengthen the close economic ties between Indonesia and Malaysia. It would also support a more inclusive and stronger post-pandemic economic recovery. As international travel gathers momentum, the payment linkage is expected to not only provide travellers greater convenience, but also benefit the tourism and retail sector of both economies. It is noted that the successful launch of the payment linkage is a result of close industry collaboration championed by BI and BNM which worked closely with the Indonesian Payment System Association (which include its member payment system operators in Indonesia), PayNet4 , and participating financial institutions. BI and BNM also welcome participation from more financial institutions to further expand the cross-border payments ecosystem. Malaysia, Indonesia central banks launch cross border QR payment linkage"}, {"url": "https://technode.global/2023/05/04/sunway-gentari-and-ev-connection-ink-mou-to-develop-electric-vehicle-charging-infrastructure-across-malaysia/", "page": 33, "title": "Sunway, Gentari and EV Connection ink MoU to develop Electric Vehicle charging infrastructure across Malaysia", "contents": "Malaysian conglomerate Through this collaboration, Gentari via its wholly owned subsidiary, Gentari Green Mobility Sdn Bhd, will be a co-development partner for EV charging stations at Sunway\u2019s integrated townships and developments throughout Malaysia, the trio said in a statement on Wednesday. This agreement will also see EV Connection work with Sunway to identify strategic locations for the installation of these charging stations at Sunway\u2019s integrated townships and developments throughout Malaysia to reduce range anxiety. With the increasing rate of electric vehicles adoption and a growing consciousness for more sustainable options among Malaysians, this partnership between Sunway, Gentari and EV Connection is a step towards the government\u2019s stated goal of being a carbon-neutral economy by 2050. \u201cEVs are increasingly the preferred option among Malaysians. The growing number of EVs will require a robust network of charging stations throughout the country,\u201cThis partnership is a concrete step towards that goal. At Sunway, we firmly believe that we can all do well by doing good,\u201d said Jeffrey Cheah, Sunway Group Founder and Chairman. Shah Yang Razalli, Gentari\u2019s Chief Green Mobility Officer, said this MoU with Sunway and its partner EV Connection, is another testament of Gentari\u2019s continued effort to drive green mobility adoption. \u201cSunway\u2019s position as a major developer of both commercial and residential properties across Malaysia, enables Gentari to allow EV infrastructure access to more users across residential, workplace and recreation destinations,\u201d he added. Ir Lee Yuen How, Managing Director of EV Connection, said this tri-partied partnership is a collective effort to bring together property owners and charge point operators towards a common goal of driving electric mobility revolution in the region. \u201cI hope that it will set precedent towards more collaborations to come and building a cleaner and sustainable future,\u201d he added. It is noted that under the Low Carbon Mobility Blueprint 2021-2023, Malaysia aims to have EVs and hybrid vehicles account for at least 15 percent of the total industry volume by 2030. In addition, the government is targeting to have 10,000 EV charging stations nationwide by 2025. Established in 1974, Sunway is a conglomerate with 13 business divisions across more than 50 locations primarily in Asia. Its 16,000-team is involved in diverse businesses including core interests in real estate, construction, education, healthcare, retail and hospitality. Its three public-listed companies \u2014 Sunway Berhad, Sunway Construction Group Berhad, and Sunway REIT, have a combined market capitalization of MYR15 billion ($3.37 billion). Gentari is a clean energy company focused on delivering the net zero solutions required to put cleaner energy into action. The firm offers lower carbon solutions through three initial core pillars \u2013 renewable energy, hydrogen and green mobility, forming a portfolio of solutions cuttingEV Connection is an EV charging company with an integrated portfolio of EV charging station hardware supply, installation, operation, maintenance and cloud services. A one-stop EV charging service provider via the JomCharge mobile app, EV Connection is the authorized EV charging station distributor. Malaysian conglomerate Sunway to launch largest indoor vertical farm in KL city center"}, {"url": "https://technode.global/2023/05/02/malaysias-homa2u-secures-875000-funding-from-singapore-based-quest-ventures/", "page": 33, "title": "Malaysia\u2019s HOMA2U secures $875,000 funding from Singapore-based Quest Ventures", "contents": "HOMA Sdn Bhd (HOMA2U)HOMA2U said in a statement that the investment round was led by Quest Ventures Asia Fund II, an early-stage venture capital fund managed by Quest Ventures Pte Ltd, a Singapore-based venture capital firm. This is Quest Ventures Asia Fund II\u2019s second cheque for HOMA2U. The investment round also includes Worldwide Management Solutions and Qhazanah Sabah Berhad (QSB), the strategic investment arm of the Sabah state government. According to the statement, the funds will fuel HOMA2U\u2019s regional expansion plans to capitalize on a fast-growing market, accelerate product development and expand its market capitalization value, all while striving to promote a circular economy within the renovation and interior design industry. The investment will also be used to support HOMA2U with its growth acceleration and scaling plans to realize its goal of becoming an MYR100 million ($22.42 million) annual revenue-generating company before 2025. HOMA2U will also channel the funds to help more people amplify their commitment to environmental, social and governance (ESG) sustainability as well as help them meet their ESG goals through their Yellow Boxes and online platform. HOMA2U is working towards growing the business threefold and will be concentrating its efforts on opening a total of 18 Yellow Boxes throughout Malaysia and Singapore. Touted as Malaysia\u2019s first unmanned interior product showrooms, the Yellow Boxes are mobile pop-up outlets that offer offline-to-online purchase services for visitors. HOMA2U is looking to establish the first Yellow Box in Singapore as early as Q32023. Pennie Lim, the Founder and Chief Executive Officer of HOMA2U, said the fresh funding is a positive sign of health for HOMA2U \u2013 considering the wider context of economic pessimism that the property market is currently experiencing. According to her, this investment will be part of HOMA2U\u2019s push to ensure added value and elevated convenience for customers as they renovate their homes. \u201cWe know that customers want renovation solutions that are seamless and engaging, with everything available under one roof,\u201d she said. She also said the funding will enable the firm to deliver on its plans to make high-quality, affordable and sustainable home interiors with renovation products easily accessible to all, essentially contributing to a total solution and wholesome experience for them. \u201cAt HOMA2U, we do not just stop there. We also help our customers meet their ESG sustainable goals and practices from a design and aesthetic point as well as from the impact of the renovation materials on our environment,\u201d she added. HOMA2U now has 20 team members working on business development, customer service and marketing. \u201cSustainability is ingrained into the work that we do and the solutions we offer. We champion reducing, reusing and repurposing,\u201d said James Yeoh, Co-Founder and Chief Strategy Officer of HOMA2U. According to him, this strategy includes acquiring building materials and interior finishing products from unused renovation materials, discarded materials and ageing stocks from merchant brands that are refurbished. \u201cThis gives our customers a worry-free approach to sustainable renovation, \u201cThis investment will allow us to tap a wider market, enabling us to make our footprint in Singapore and create environmental impact regionally,\u201d he added. Meanwhile, the participating investment companies strongly believe that this synergistic partnership will further fortify HOMA2U\u2019s strengths in revolutionizing an archaic industry and an untapped market with vast potential. The funds will also reinforce Singapore\u2019s commitment to reducing its carbon footprint and support its ESG sustainability goals. The construction and renovation industry is quickly adopting circular economy concepts that emphasize sustainability standards and optimal usage of natural resources. By integrating environmentally friendly practices and social responsibility into their business offerings, HOMA2U hopes to set new standards in design and sustainability, helping more individuals and businesses bolster strategies to achieve net zero carbon emission targets. \u201cThe building, construction and renovation industries have traditionally been characterized as oligopolistic markets, making them near-impenetrable, \u201cHOMA2U has innovatively broken the market entry barriers and levelled the playing field using digital capabilities and data interoperability as ammunition,\u201d said Jeffrey Seah, Asia Fund Partner at Quest Ventures. According to hi, this has enabled them to offer their solutions to the masses around the clock, creating impact at every turn. \u201cThis is the very fabric of the digital economy we espouse at Asia Fund II which is encapsulated as digital disruption without leaving anyone behind,\u201d he added. Earlier in 2021, HOMA2U secured a series of funding amounting to MYR2.4 million ($567,000) from Warisan Quantum Management as well as ScaleUp Malaysia with investment partner, Quest Ventures Pte Ltd where HOMA2U emerged as one of the top 10 startups in the ScaleUp Malaysia\u2019s Accelerator programme Cohort 2. Malaysia home finishing product marketplace HOMA2U bags $567K funding"}, {"url": "https://technode.global/2023/05/01/bigpay-announces-leadership-transition-as-capital-a-commits-to-sustain-growth-in-fintech-business/", "page": 33, "title": "BigPay announces leadership transition as Capital A commits to sustain growth in fintech business", "contents": "BigPayZubin was the Malaysia country head for BigPay the past year, and succeeds Salim Dhanani who stepped down in February to pursue a new opportunity outside of BigPay, Capital A said in a statement on last Friday. \u201cZubin takes the helm of this great company at a time of strong, sustained performance and we are confident that he will continue to grow BigPay\u2019s mission of giving Southeast Asians the financial services they need to level up their lives, one transaction at a time,\u201cWe are excited for BigPay\u2019s next step as we seek to tighten our links with AirAsia guests to provide a seamless travel payment experience within the Capital A ecosystem,\u201d said Colin Currie, President, Chief Executive Officer of airasia Digital. Meanwhile, Zubin said he will leverage my nearly 20 years of experience across financial services and capital markets to better provide BigPay customers with the accessible and supportive products they need to live better lives. \u201cWith an increased focus on our customers and deeper collaboration with airasia Superapp, I am confident in achieving greater growth for BigPay, which saw 56 percent year on year growth in revenue and a 43 percent improvement in gross profit margins, \u201cWe have a stellar, talented team behind the business, who are instrumental in deepening and expanding our footprint in Malaysia and across Asean, with a planned launch in Thailand later this year, followed by Indonesia and the Philippines,\u201d he said. Before joining BigPay, Zubin was a Partner with the Boston Consulting Group for over six years, where he focused on financial services, including: the design of digital banks in Singapore and Malaysia; large-scale bank operating model transformations; and the build and launch of innovative digital products. He was also a Co-Founder of Tuas Capital Partners, a private equity fund. Prior, he played a strategy role at Hong Leong Bank where he helped set up a new subsidiary in Vietnam, and supported Malaysia\u2019s last major retail banking merger. He began his career in KPMG Business Advisory, supporting financial institutions across financial risk and strategy. Zubin holds a Bachelor of Arts in Philosophy, Politics and Economics from the University of Oxford. Founded in 2017, BigPay is a firm provides financial services from payments to international transfers, credit, micro-insurance, personal loans, and smart budgeting. The firm currently has 1.3 million transacting and carded users which represents nearly 50 percent growth year on year. In 2022, BigPay launched various regulated financial products and services in Malaysia, such as BigPay Personal Loans, DuitNow QR, and DuitNow transfer. Most recently, BigPay has also hit MYR1 billion ($220 million) in gross transaction value (GTV) on its international remittance feature. Capital A is an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology. As the new corporate identity of the former AirAsia Group Berhad, Capital A has transformed from an airline to a digital travel and lifestyle brand, comprised of main business verticals\u2013 aviation (Airlines), aviation services (ADE, Santan, GTR), airasia Superapp (airasia food, airasia ride among others), and ventures (AirAsia Academy, RedBeat Capital among others), as well as logistics venture Teleport and fintech portfolio company, BigPay. BigPay launches into the cryptocurrency space in partnership with TripleA"}, {"url": "https://technode.global/2023/04/27/axiatas-fintech-arm-boost-holdings-said-to-be-weighing-funding-round-report/", "page": 33, "title": "Axiata\u2019s FinTech arm Boost Holdings said to be weighing funding round \u2013 report", "contents": "Boost Holdings, a FinTech unit of Axiata Group Bhd is weighing raising $50 million to $100 million in a new funding round,Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million, the people reportedly said. The funding round would help finance the expansion of Boost\u2019s digital banking operations, the people added. According to the report, deliberations \u201care ongoing\u201d, and there is no guarantee Boost will proceed with the planned offering. Representatives of Axiata and Boost declined to comment, the report added. The consortium of Boost and RHB Bank Bhd was one of the five groups that has been awarded a digital banking license from Malaysia\u2019s central bank last year. In a According to him, as of 2022, Boost has accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of its customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate, he noted. Boost is the regional fintech unit of Axiata, offering an all-in-one app, merchant solutions, artificial intelligence-based lending and a cross-border payment platform. It serves millions of customers across seven countries in Southeast Asia, the site shows. In 2020, Axiata sold a 21.9 percent stake in Boost to Great Eastern Holdings Ltd, the insurance arm of Singapore\u2019s Oversea-Chinese Banking Corp (OCBC) for $70 million, according to earlier reports. The investment valued Boost at $320 million, Malaysia-headquartered telco Axiata has controlling interests in six mobile operators under the brand names of \u2018Celcom\u2019 in Malaysia, \u2018XL\u2019 in Indonesia, \u2018Dialog\u2019 in Sri Lanka, \u2018Robi\u2019 in Bangladesh, \u2018Smart\u2019 in Cambodia and \u2018Ncell\u2019 in Nepal, as well as minority interests in \u2018Idea\u2019 in India and \u2018M1\u2019 in Singapore. Axiata\u2019s Boost to leverage ecosystem as it prepares to launch its digital bank. Here\u2019s how and why. [Q&A]"}, {"url": "https://technode.global/2023/04/27/airasia-superapp-average-monthly-active-users-up-12-percent-q-o-q-in-first-quarter/", "page": 33, "title": "Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter", "contents": "Airasia SuperApp recorded 12.9 million average monthly active users (MAU) in the first quarter of 2023, up by 12 percent quarter on quarter, its parent firm Capital A said in a statement that the number of airasia SuperApp transactions also reached 5.98 million, up by 99 percent year on year but down by 19 percent quarter on quarter. According to the statement, the growth of MAU and transactions were mainly driven by increased AirAsia flight capacity, the continuous growth of the travel-related line of businesses (Hotels and SNAP) and airasia ride. Capital A said the decrease in the number of airasia SuperApp transactions quarter on quarter is not unexpected where most of the travel related activities are usually highest in the last quarter of the year. Meanwhile, Capital A\u2019s digital e-wallet BigPay achieved 1.37 million carded users in the first quarter, improved by 17 percent year on year and recorded almost 55,000 new carded users since the last quarter. Additionally, the launch of an exclusive 5 percent discount on AirAsia flights bolstered ecosystem spending, which contributed to an increase in BigPay overall gross transaction Value (GTV) of 59 percent year on year and 6 percent quarter on quarter. Capital A\u2019s logistics arm Teleport, on the other hand, continues to grow its e-commerce delivery business and has added dedicated freighter capacity to extend its mid-mile offering. This enhanced scale capability allied with the addition of new large accounts saw 5.7 million parcels delivered in the first quarter, equivalent to 71 percent of fiscal year 2022 total volume in just three months. This also represents a 502 percent increase year on year. Teleport cargo segment performance is also up by 39 percent year on year and 15 percent quarter on quarter, having Teleported 35,723 tonnes in the first quarter, owing to the return of AirAsia international passenger flights and increased contribution from global freight forwarders. \u201cWe are excited to announce that our aviation group has made significant progress in the new year, with passengers and capacity exceeding 70 percent recovery levels, \u201cIn addition to that, our digital and logistics businesses are reaping the rewards as travel takes off. Our focus remains on reactivating all of our 210 aircraft while providing a seamless travel experience to our guests,\u201d said Capital A. It is noted that the consolidated airlines (consist of AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines) had activated 157 aircraft, of which 142 were operating and 15 were spares. The increased operating aircraft, as well as robust travel demand resulted in strong passenger traffic of 13.2 million, representing a 153 percent and 11 percent growth year-on-year and quarter-on-quarter respectively. The group operated 14.8 million seats in the first quarter, 71 percent of first quarter of 2019 levels, with load factor of 89 percent, at par with pre-pandemic levels. Airasia super app completes Asean expansion with official launch of platform in Indonesia"}, {"url": "https://technode.global/2023/04/26/malaysian-ai-startup-vox-scores-250k-investment-from-silicon-valley/", "page": 33, "title": "Malaysian AI Startup VOX scores $250,000 investment from Silicon Valley", "contents": "Malaysian-born artificial intelligence (AI) startup VOX said in a statement that the investment is aimed at covering operational costs of the platform for the first 50,000 users, which enables the team to put all their effort into innovating the user experience and workflows. \u201cTo truly revolutionize workflows, we need to seamlessly connect to proprietary data sources,\u201cWe are currently in discussions with various strategic partners to accomplish that,\u201d said Simone, Chief Executive Officer of VOX. He also elaborated at length about being a platform that anyone can build on, as well as privacy and security being a key pillar of any development, given the sensitive nature of any organization\u2019s data. Sharly AI addresses a universal problem: parsing through information takes time. Oftentimes key facts are hidden in long documents, audio recordings or videos. According to the statement, in today\u2019s world that people are rushing between back-to-back meetings, with only small screens in their hands, the average worker spends nearly five hours per day reading documents and emails. Thus, a solution like Sharly AI will revolutionize productivity, for professionals to focus on actual decision making. In a world where AI and generative applications continue to reshape industries, it said Sharly AI is believed to  be a game-changer. With the potent combination of Generative AI based technology, a relentless team, and ambitious goals, VOX believed the firm is well on its way of cracking the global market. \u201cWhile ChatGPT and similar models provide simple APIs to connect to, they come with a lot inherent limitations,\u201d said Davide, the Chief Technology Officer of VOX. \u201cOur experience from previous products really helped to plug the holes, tune the model to be able to deal with thousands of pages while staying grounded in factual knowledge,\u201d he added. Malaysia\u2019s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group"}, {"url": "https://technode.global/2023/04/20/malaysian-central-bank-to-co-host-virtual-aml-cft-hackathon-2023-to-help-crack-down-on-financial-crime/", "page": 33, "title": "Malaysia Central Bank to co-host virtual AML/CFT Hackathon 2023 to help crack down on financial crime", "contents": "Malaysia\u2019s Central BankBank Negara Malaysia (BNM) Deputy Governor Marzunisham Omar said in a statement on Thursday that global challenges require global solutions. \u201cFinancial crime is a global issue, and we all have a role to play in maintaining the integrity of the financial system,\u201cWe are pleased to continue our long-term partnership with FICG through this search for creative solutions to curb financial crimes, particularly scams, from talented individuals across the region,\u201d he added. The AML/CFT Hackathon 2023, which will be held virtually, will feature workshops and mentoring sessions run by experts in cybersecurity and anti-money laundering/counter-financing of terrorism (AML/CFT). Participants will work in teams to prototype innovative digital solutions to specific problem statements identified by the organizers, which reflect real-world pain points in combating serious financial crimes today. Pitches will be evaluated in three separate tracks to reflect different categories of participants: public sector (e. g. , law enforcement agencies), private sector (e. g. , reporting institutions, fintech companies) and open category (e. g. , freelance developers, students). Participants stand a chance to win up to $5,000 as well as an opportunity to present their winning prototypes to senior financial intelligence officials from across the region. The AML/CFT Hackathon 2023 builds upon past efforts by BNM and Australian Transaction Reports and Analysis Centre (AUSTRAC), and is now in its third instalment following the International FIU Codeathon in 2017 and the ASEAN- Australia Codeathon in 2018. Prototypes developed include, amongst others, enhancement of AML/CFT compliance and suspicious matter reporting by applying artificial intelligence. Malaysia, Singapore announces cross-border QR code payment linkage"}, {"url": "https://technode.global/2023/04/20/breakeven-is-near-for-carsome-says-ceo-eric-cheng/", "page": 33, "title": "Breakeven is near for Malaysian unicorn Carsome, says CEO Eric Cheng", "contents": "Editor\u2019s note:Malaysia-headquartered used car e-commerce platform \u201cWe\u2019ve been seeing consistent growth coming not just from the volume of the transactions but at the same time, the margin potential has also been increasing with the help of retail business and ancillary services,\u201d its Co-Founder and Chief Executive Officer Eric Cheng said in a recent \u201cWe have already achieved quite a good level of control when it comes to being more disciplined in looking at how we control costs within the entire business. So all this combined actually got us much more closer to breakeven level,\u201d he said. When pressed about the timeline of such an announcement, Cheng said, \u201c[a] couple of months from now\u2026 I believe that by the second half of this year, we\u2019ll see something. \u201dCarsome announced The plan includes accelerating its integration with the newly-acquired iCar and WapCar ecosystem of companies, as well as \u201cemployee base optimization\u201d, and automation of processes to further increase group efficiency, Carsome said then. As part of the \u201cemployee base optimization\u201d, the Malaysia-based unicorn said it will focus on improving productivity across the business, aligning resources with contributions to the bottom line, and enforcing stricter performance management. It is understood that less than 10 percent of the workforce was affected, according to the report then. In addition, the executive team is forgoing their salaries for the remainder of 2022 to help contribute to an ex gratia payment for departing team members, the company said then. Carsome currently has more than 4,000 employees across all its markets. In January last year, Carsome completed its $290 million Series E round, increasing the company\u2019s valuation to approximately $1.7 billion. The financing round was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw strong participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome has become Malaysia\u2019s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia in July 2021. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia\u2019s OLX Auto and Carousell Auto Group. One of its rivals, Softbank-backed Carro, announced it has achieved profitability in its last financial year ended March 2022 (FY2022) as revenue more than doubled to S$650 million ($463.49 million). Cheng said in the interview that its revenue last year surged to $1.5 billion from about $650 million in 2021. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is \u201ctrusted, convenient and efficient\u201d. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Besides growing its market share in existing markets, Cheng said Carsome is also looking into new markets. \u201cIn fact, like in the Philippines, we have started a pilot operation. We have a small team in the Philippines that is starting to do [a] test run. I think the early signs [shows] that it is going to be positive just like the markets that we\u2019re in,\u201d he added. Besides geographical expansion, he said Carsome is looking to expand vertically, adding more ancillary revenue such as maintenance services and financing services which could also improve its margin potential. Last year,Meanwhile, on its postponed initial public offering plan, Cheng said the company wanted to be \u201cready\u201d to go public. Carsome is said to be Featured photo credits: BFMMalaysia\u2019s Carsome announces \u2018group-wide accelerated profitability plan\u2019 including job cuts"}, {"url": "https://technode.global/2023/04/19/scaleup-malaysia-announces-cohort-iv-and-investments-in-seven-companies/", "page": 34, "title": "ScaleUp Malaysia announces Cohort IV and investments in seven Companies", "contents": "ScaleUp MalaysiaIn a statement on Wednesday, ScaleUp Malaysia said the companies selected for Cohort IV are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel who will receive a $100,000 investment each, while the seventh company, Sonicboom, will receive an undisclosed strategic investment. It said that this cohort marks a significant milestone for the agency, with upfront investments for its accelerator program as opposed to at the end of the program as with previous cohorts. These companies will undergo a rigorous 12-week accelerator program aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world. \u201cWe are delighted to welcome Cohort IV to our accelerator program, \u201cOur selection process was highly competitive, and we are thrilled to have seven outstanding and diverse companies on board,\u201d said Andre Sequerah, Managing Partner at ScaleUp Malaysia. According to him, these companies have been selected based on their potential to drive regional scalability and positive impact to society and the economy. \u201cWe are also happy to add two female founded companies to our portfolio which brings us to a total of 14 companies with female founders,\u201d he added. According to the statement, the focus of the accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level. The program will provide the companies with best practices in pitching, financial modelling, business strategy, and product development. \u201cWe are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed,\u201d said Tay Shan Li, Managing Partner at ScaleUp Malaysia. According to him, the agency\u2019s team of experienced mentors and advisors will guide them through the program to refine their business models and strategies to attract further funding and drive regional growth. \u201cOver the past 3 cohorts we have designed best practices to work with our investee companies and have seen immense success in helping them regionalise and raise their next rounds,\u201d he added. ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4 percent. The firm received applications from countries all over the region including Hong Kong, Philippines, Vietnam, Singapore and Indonesia. Countries expressing interests came as far as from the United Kingdom and United States of America. Selected companies comprise of ventures in IOT, Health Tech, SportsTech, Pet Care, Travel Tech, HR Tech and Fintech. ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia \u2013 helping them position their business for exponential growth. The agency is founded by a team of experienced entrepreneurs, professionals and seasoned investors. Championing the concept of building \u201cPegasus\u201d companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a program that includes in-class training, one to one coaching and equity investment for selected companies. Selected List of CompaniesBeeBag \u2013 BeeBag is a smart retail startup working on gamifying sustainable shopping. The firm created a mobile app and the technology to transform ordinary reusables into smart reusables that reward shoppers for their sustainable actions. Docspe \u2013 Docspe is an integrated ecosystem, bridging gaps between healthcare providers. The firm is automating day-to-day operations for clinics and pharmacies, reducing friction and errors with an advanced electronic health record (EHR) solution. Huddle \u2013 Huddle uses artificial intelligence (AI) technology to stream thousands of live amateur and youth sporting events across the country straight to the palm of your hand. Petotum \u2013 Petotum is the first pet ecosystem integrator in Southeast Asia. The firm provides an integrated system for pet owners, lovers, businesses, and the community to revolutionize the pet care ecosystem. StayHere \u2013 StayHere is a one-stop vacation rental solution for proprietors with a vision to disrupt the accommodation industry in Asia, where unbranded premium apartment rental supply is still fragmented and under-serviced. Kabel \u2013  Kabel is an AI-powered job matching platform, similar to Tinder, that connects employers with university students for internships and job opportunities, helping early talents discover their career interests and develop work-ready skills, with the goal of becoming the top platform in Southeast Asia for launching careers. Sonicboom \u2013 Sonicboom is a top Malaysian fintech, transforms payment solutions for unattended businesses using software as a service (SaaS) and cloud-based tech. Excelling in parking, transportation and transit, the firm processes MYR 120 million ($27.08 million) cashless transactions yearly. ScaleUp Malaysia seeks to invest $1 million in ten startups"}, {"url": "https://technode.global/2023/04/18/city-energy-partners-gentari-for-hydrogen-import-and-to-connect-cross-border-ev-charging-networks/", "page": 34, "title": "City Energy partners Gentari for hydrogen import and cross-border EV charging networks", "contents": "Singapore\u2019s gas utility providerThe two parties said in a statement on Tuesday that under the partnership, City Energy and Gentari will leverage each other\u2019s strengths, expertise and resources to pursue opportunities in the import of hydrogen into Singapore. In addition to supporting Singapore\u2019s National Hydrogen Strategy, which was announced in October 2022 as a key decarbonization pathway to support Singapore\u2019s international climate commitment to achieve net zero emissions by 2050, the agreements enable City Energy to explore alternate sources of hydrogen to reinforce its decarbonization efforts. Both parties will also explore other hydrogen-related opportunities. \u201cThis strategic partnership between City Energy and Gentari is a key development for us,\u201cAs City Energy is the sole piped town gas provider for more than 880,000 homes and businesses, City Energy is well placed to establish a hydrogen supply for the futureIt is noted that Hydrogen is the largest component in town gas produced at City Energy\u2019s Senoko Gasworks plant, making City Energy one of the largest last-mile carrier of hydrogen in Singapore. The collaboration with Gentari follows City Energy\u2019s ongoing feasibility studies with leading industry partners and institutes of higher learning to explore alternative sources of hydrogen. \u201cWhile Gentari aims to become the go-to industry partner for clean hydrogen, we want to be able to provide integrated clean energy solutions for customers in Asia Pacific, among others,\u201d said Mich\u00e8le Azalbert, Gentari\u2019s Chief Hydrogen Officer. According to her, the collaboration with City Energy is taking a step towards the right path in providing that solution. \u201cWe believe this partnership will be the first of many in Singapore. We are committed to support Singapore in achieving net zero emissions by 2050,\u201d she added. According to the statement, Gentari aims to produce up to 1.2 million tons per annum of clean hydrogen to address the future increase of clean energy demand. The collaboration with City Energy will accelerate the adoption of clean hydrogen as an energy source and signifies commitment towards providing clean hydrogen from Malaysia to Singapore. Meanwhile, the second MOU will see Go by City Energy (Go) and Gentari working together to deepen and expand the understanding of the EV market and behavior of EV users in Singapore and Malaysia, as well as co-deploying publicly accessible EV chargers on each other\u2019s EV networks. The two parties will also explore and identify best practices for mobile roaming applications in both countries. In April 2022, City Energy launched its EV charging solution arm, Go, to provide EV charging solution as a service to commercial buildings, mixed developments, and private housing estates, to support Singapore\u2019s set target of reduced land transport emissions by 80 percent from the 2016 peak by, or around 2050. As the EV charging service provider to offer cross-border connectivity into Malaysia through an operational service across Singapore and Malaysia with mobile application, Go now offers 118 charging points across more than 50 locations in Malaysia through its app, City Energy Go. This collaboration between Go and Gentari will accelerate the pace of charger deployments by both parties through co-deployment arrangements. Both parties will work on expanding their EV charging networks, allowing EV drivers in both Singapore and Malaysia connectivity and convenience. \u201cRange anxiety is a real concern for electric car drivers. For those driving between Singapore and Malaysia, a seamless, highly accessible network of chargers will put their mind at ease, and this is what City Energy seeks to do with our partners across the Causeway,\u201cAs we continue our expansion of our Go by City Energy network of private and commercial developments in Singapore, we will distinguish ourselves through added value in the form of a robust cross-border EV network built on expanded connectivity into Malaysia,\u201d said Ong. Gentari is the second Malaysian company City Energy is collaborating with for EV charging. The MOU between Gentari and Go will not only support EV infrastructure development in Singapore and Malaysia respectively, but also encourage the development of a robust cross-border EV network, ensuring a more seamless customer experience for EV drivers traveling between the two countries. \u201cAt Gentari, we are working with like-minded partners to support network development in driving sustainable mobility,\u201cToday, we are partnering with City Energy to ensure a seamless driving experience for EV users between Malaysia and Singapore, and we hope this collaboration will also become Gentari\u2019s foray into the Singapore market to support regional development of charging network within Asia Pacific,\u201d said Shah Yang Razali, Gentari\u2019s Deputy Chief Executive Officer and Chief Green Mobility Officer. Malaysia, Singapore announces cross-border QR code payment linkage"}, {"url": "https://technode.global/2023/04/18/malaysias-mdec-eyes-230m-digital-investments-by-2025/", "page": 34, "title": "Malaysia\u2019s MDEC eyes $230M digital investments by 2025", "contents": "The Malaysia Digital Economy Corp (MDEC)MDEC said in a statement on Monday that the agency has identified these nine promoted sectors covering digital tourism, digital agriculture, digital cities, digital content, digital finance, digital trade, digital services, digital health, and Islamic digital economy. According to the statement, these additional promoted sectors have been recognized to enhance digital readiness and competitiveness, as well as to drive innovation and collaboration among industry players. \u201cThe MYR1 billion ($230 million) worth of investment opportunities are expected to be generated through these promoted sectors by 2025, led by the public-private sector and industry collaborations,\u201cWe aim to achieve this through several strategic interventions,\u201d said MDEC Chief Executive Officer Mahadhir Aziz. According to him, from this year until 2025, the agency is making strategic investments into each of the promoted sectors via the allocated budget on digital economy to accelerate their growth and development. Collectively, he said the government through MDEC has allocated a total of MYR238 million ($53.63 million) as public investment into these nine MD PEMANGKIN sectors. \u201cWe are investing heavily on industry development such as digital infrastructure, education, and providing our workforce with the skills they need to succeed in the digital economy,\u201d he said. He also noted MYR45 million ($10.14 million) from the total investment will be used to enhance various technology enablers, such as blockchain, automation, artificial intelligence (AI), and more. \u201cWhile MYR50 million ($11.27 million) from the total investment will be distributed through our digital matching grants. All this will be done via our PEMANGKIN,\u201d he said. According to him, MDEC is actively addressing national problems through its strategic interventions and digital initiatives, and leveraging digital innovation to tackle challenges head-on and create positive societal impact. He also said MDEC\u2019s Funding Facilitation team is actively engaged in negotiations with key private stakeholders and investors, aiming to secure an impressive total funding value of up to MYR160 million ($36.06 million). These efforts are being pursued through multiple collaborative initiatives as part of the dynamic DE Dagang campaign, which is co-funded by diverse private sectors encompassing tourism and craft, halal, agriculture, and exports, he added. \u201cOur PEMANGKIN, will attract foreign and local investments, creating high quality jobs, and fostering innovation and entrepreneurship. This contributes to the overall economic development of the country and elevating Malaysia\u2019s position in the global digital economy landscape,\u201d he said. Recognizing that public-private partnerships are essential to harness the full potential of the digital economy, he said the agency is also actively engage with private sector partners, including corporations, venture capitalists, angel investors, and financial institutions, to co-invest in its digital initiatives. \u201cThrough collaborative funding models, we are able to leverage private sector resources, expertise, and networks to amplify the impact of our digital programs and initiatives,\u201d he said. He also noted that these nine technology focus sectors have been identified as presenting high growth potential, opportunity, and importance in driving Malaysia\u2019s next transformation in digital economy. He said the PEMANGKIN for these nine promoted sectors are strategically led by local tech companies and foreign investors, with the goal of leveraging their expertise and resources to drive growth and innovation in Malaysia\u2019s digital economy. \u201cMDEC strives to cultivate a collaborative ecosystem that empowers individuals and businesses to harness the vast potential of these promoted sectors, through concerted efforts involving both local and foreign stakeholders,\u201d he said. Cited Malaysia Digital Technology Trends and Outlook 2030 study by MDEC Research Team, he said these nine promoted sectors are growing exponentially on a global level. \u201cWe want to seize the opportunities to enable individuals and businesses alike to leverage this immense potential within the nine promoted sectors to improve the economy in terms of wealth creation, industry to nurture innovation and productivity, as well as increasing the quality of life in society,\u201d he said. Launched last year, Malaysia Digital (MD) is a national strategic initiative by the Government to encourage and attract companies, talents and investment while enabling Malaysian businesses and Malaysians to play a leading part in the global digital economy. \u200b According to the statement, the Ministry of Communications and Digital through MDEC will continue to introduce and roll out new PEMANGKIN programs in its bid to establish Malaysia as the digital hub of choice in ASEAN as well as to catalyze further opportunities for all, in line with Malaysia MADANI concept. MDEC has successfully rolled out two initial PEMANGKIN programs including DE Rantau and Digital Trade. DE Rantau is a program that aims to establish Malaysia as the preferred Digital Nomad Hub in a bid to boost digital adoption and to promote digital professional mobility and tourism in Kuala Lumpur, Langkawi, Penang, and several other locations in Malaysia. Digital Trade is a program that promotes interoperability and greater harmonization of standards and regulatory approaches as well as facilitated trade within and across borders. MDEC launches Malaysia Digital Climate Action Pledge for digital economy"}, {"url": "https://technode.global/2023/04/18/malaysias-care-concierge-aims-to-set-up-caregivers-academy-and-technology-app-with-funds-from-gdiv/", "page": 34, "title": "Malaysia\u2019s Care Concierge aims to set up caregivers academy and technology app with GDIV funds", "contents": "Malaysian home care service provider Care Concierge said in a statement on Tuesday that firm aims to realize its vision of providing innovative solutions through technology and design thinking, to emerge as the leading provider of Holistic Senior Care in Malaysia. Thus, it will allocate the funds received from GDIV to support the company\u2019s strategic expansion plans, primarily focused on two key areas. The first will focus towards the development of professional and certified caregivers through the establishment of the \u201cCare Concierge Academy,\u201d which will provide upskilling opportunities and a clear career path for professional caregivers. Secondly, it will be channelled towards the enhancement of the \u201cCare Concierge App\u201d with advanced technology. The Care Concierge apps will serve a two-pronged approach, serving as the primary learning platform for students and lecturers and provide an easy online access to study materials. At the same time, it will also be the main digitalized support platform to improve the quality and efficiency of senior care services. These initiatives represent a significant investment in the company\u2019s commitment to providing excellent care services and further strengthening its position as a leader in the senior care industry. As part of Care Concierge\u2019s founders\u2019 mission to uplift the senior care industry, the \u201cCare Concierge Academy\u201d was established in partnership with a Malaysian university, \u201cUniversiti Tunku Abdul Rahman\u201d (UTAR). Its primary role is to provide training, certification and equipping caregivers with the necessary qualifications for effective best-in-class care to seniors. Care Concierge opined that this will not only uplift the caregivers profession, but also address the shortage of quality professional caregivers and provide a fulfilling career path in this emerging industry. Therefore, a large portion of the fund will be utilized to strengthen the \u201cCare Concierge Academy\u201d, in the recruitment of the B40 youths (individuals under the age of 30 belonging to households with a monthly income within the bottom 40% of the population), to encourage them on this viable and emerging career path. Along with certifications, the academy will also review and expand their efforts to ramp up on recruitment and through this, Care Concierge will expand their senior living services footprint to other key cities. Over the years, Care Concierge has onboarded about 2,000 professional caregivers and specialists, delivering over 6.6 million hours of services to their clients. Part of the fund that will be utilized to enhance the app will also incorporate IoT technology to provide seniors with a more personalised and effective care, for their safety, at the same time to support and guide them to live healthier and more independent lives. The Care Concierge app also facilitates transparency in communications for the community of professional caregivers, other care specialists, seniors and their families. It tracks and monitors vitals, and logs tasks performed throughout the day, providing a summary of care for family members, who may be on-the-go or overseas. Care Concierge believes that its \u201cPerson-Centred Care\u201d holistic approach ensures that the senior\u2019s physical, cognitive and psychosocial well-being through professionalCare Concierge currently provides quality senior living care solutions, throughout its six lifestyle oriented Assisted Living Residences, totalling more than 350 rooms, within Klang Valley and Penang, Malaysia. With the additional funding received in this exercise, Care Concierge is expected to rollout an additional 1,000 rooms in the next three years. \u201cOur mission at Care Concierge is to enrich the quality of life for the seniors and their family within their community, to lead a meaningful and purposeful life. \u201d said Care Concierge Founder and Chief Executive Officer Martin Yap. According to him, the firm strives to ensure that the seniors have access to quality care and services, and that their communities are built with their needs in mind. \u201cWith this in mind, we are committed to investing in developing professionals and expertise for the caregiver\u2019s profession to cater to the care of our ageing population, \u201cIn collaboration with the government and higher learning institutions, Care Concierge Academy aims to support a healthy social and economic impact by providing the right and best care continuously for our seniors in generations to come,\u201d he said. Gobi Partners onboards Care Concierge to the Khazanah-backed Gobi Dana Impak Ventures fund"}, {"url": "https://technode.global/2023/04/18/tokio-marine-finology-kirimman-partner-to-offer-insurance-to-gig-economy-workers-in-malaysia/", "page": 34, "title": "Tokio Marine, Finology, KirimMan partner to offer insurance to gig economy workers in Malaysia", "contents": "Tokio Marine Insurans (Malaysia) Berhad (Tokio Marine)Finology said in a statement that the new product, which is priced as low as MYR1 ($0.23) per day, offers gig workers affordable protection against accidents while on the job. It covers accidental death or permanent disablement, medical expenses due to accidents, and ambulance fees. The protection is enforced throughout the day, not limited to delivery trips. Cited a report by Google, Temasek, and Bain & Company, Finology said Southeast Asia\u2019s internet economy is expected to hit $300 billion by 2025. With the gig economy playing a significant role in the growth of e-commerce, it expects the need for insurance coverage for gig workers to increase. According to Ng Hang Ming, Chief Executive Officer at Tokio Marine, the new product is a reflection of the company\u2019s commitment to providing affordable insurance solutions to all Malaysians, regardless of their occupation or income level. \u201cWe believe that everyone deserves access to quality insurance protection, and we\u2019re proud to partner with KirimMan and Finology to offer affordable insurance to gig workers,\u201d he added. Tim Chee, Executive Director and Co-Founder of KirimMan, said that the new insurance product would help gig workers feel more secure while on the job. \u201cAs a logistics aggregator and provider who works with various logistic companies, we understand the risks that delivery riders face every day, \u201cBy offering affordable insurance coverage, we hope to provide them with the peace of mind they need to do their jobs effectively,\u201d he added. While the focus is on the Personal Accident for Rider product, the collaboration has also resulted in Goods in Transit insurance. It offers logistics providers affordable coverage for goods in transit. With rates as low as MYR2 ($0.45) per parcel, the product provides sum insured coverage that is higher than other logistic providers. The Personal Accident for Rider and Goods in Transit products are available now for KirimMan customers. KirimMan currently handles more than 50,000 parcels monthly and is on track to double the figure by the end of 2023. The company has opened 40 outlets and is soon to double through an exclusive partnership with petrol stations. Robin Ang, Group CEO & Co-Founder of Finology, highlighted the company\u2019s focus on enabling embedded insurance solutions for partners and making insurance more accessible through technology. \u201cOur mission at Finology is to simplify insurance and make it more accessible to everyone. By leveraging our technology and expertise, we are dedicated to enabling embedded insurance solutions for our partners, \u201cBy partnering with Tokio Marine and KirimMan, we\u2019re able to enable an affordable insurance product that\u2019s easy to understand and easy to purchase,\u201d he added. According to the statement, the collaboration between Tokio Marine, KirimMan, and Finology is part of a broader trend in Malaysia\u2019s insurance industry towards digitalization and the use of technology to make insurance more accessible to all Malaysians. The Personal Accident for Rider and Goods in Transit products are designed to provide affordable and comprehensive insurance coverage to gig workers and logistics providers in Malaysia. KirimMan is a Malaysian-born logistic aggregator and supply-chain solution provider, by focusing on enabling hyperlocal, omni-channel commerce and distribution. It provides end-to-end tailored-made omni-channel distribution solutions to businesses and provides to consumers with innovative, convenient and cost-efficient fulfilment, delivery and concierge options. Since its inception, it had served many local and international brands and companies to reach their targeted customers. Finology is a fintech company that enables embedded finance. Its lending and insurance suites of API-driven solutions enable financial institutions (banks and insurance companies) and consumer-facing businesses such as property developers, automotive distributors, and digital players to seamlessly embed loans and insurance products and offer better digital experiences to their customers. Meanwhile, its direct-to-consumer brand, Loanstreet, promotes the financial products of banks and insurance companies. The Tokio Marine Group is engaged in a wide variety of businesses ranging from non-life insurance to life insurance, international insurance, financial and other general business. The group operates a worldwide network that spans 46 countries and regions to provide safety and security to customers. Malaysia InsurTech firm PolicyStreet. com raises $6M in Series A, receives in-principle approval for reinsurance & general insurance license"}, {"url": "https://technode.global/2023/04/17/touch-n-go-ewallet-users-can-pay-cashless-in-more-singapore-merchants/", "page": 34, "title": "Touch \u2018n Go eWallet users can pay cashless in more Singapore merchants", "contents": "Touch \u2018n GoTouch \u2018n Go said in a statement on last Friday that since 2022, Touch \u2018n Go eWallet users have been able to make payments for products and services at any Alipay+ merchants across Singapore. With the recently announced enablement via the DuitNow -NETS cross border partnership, Touch \u2018n Go eWallet users can now scan and pay at any merchant displaying NETS QR via NETS payment terminals or SGQR, which include popular local kopitiams and hawkers that do not accept cards. With the above, the merchant network in Singapore accepting Touch \u2018n Go eWallet has now grown to over 130,000 touchpoints, the widest cross border payment coverage for a Malaysian eWallet in Singapore. They will be able to conveniently transact in their own local currency with live foreign exchange rates, displayed in the Touch \u2018n Go eWallet app before making a payment. \u201cThis new seamless and secure transaction feature further expands our eWallet ecosystem,\u201d said Alan Ni, Chief Executive Officer of TNG Digital Sdn Bhd. As a company that emphasizes addressing customers\u2019 needs, he said the firm is excited that this feature broadens cashless payment acceptance for its users. According to him, Malaysians travelling to Singapore can have peace of mind as they enjoy the convenience of making cashless payments, knowing the foreign exchange rate upfront, and tracking their expenses instantly. \u201cThe same convenient features are also extended to users with the Touch \u2018n Go Visa card, the first numberless card in Malaysia,\u201cWith this card acting as a complementary payment channel to the eWallet, users will be able to make payments even at merchants that only accept cards,\u201d he added. He said the firm is also excited to welcome visitors from Singapore to Malaysia to enjoy the seamless convenience of using their respective eWallets to make payments at more than 1.5 million merchant touchpoints nationwide by scanning the DuitNow QR code. He said this cross-border payment feature will not only help to support the tourism industry but also increase economic activity among the small and medium-sized retail businesses supported by Touch \u2018n Go eWallet. According to the statement, Touch \u2018n Go eWallet users can be assured their eWallet is protected and every transaction they make is safe and secure. Adding on to its stringent safety and security features, Touch \u2018n Go eWallet has recently implemented the five key measures mandated by Malaysian Central Bank for banks to reinforce safeguards against fraudulent transactions. The Touch \u2018n Go Group is Malaysia\u2019s leading consumer facing financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd (Touch \u2018n Go), a wholly owned subsidiary of CIMB Group and TNG Digital Sdn Bhd (TNG Digital), a joint venture between Touch \u2018n Go and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. The Touch \u2018n Go Group of companies serve Malaysians who use its card, radio-frequency identification (RFID) and eWallet offerings to fulfil a host of daily transactions. Established in 2017, TNG Digital is the owner and operator of Touch \u2018n Go eWallet, Malaysia\u2019s eWallet company with more than 19 million registered users and over 1.2 million merchant touch points including DuitNow QR. Combining Touch \u2018n Go\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, Touch \u2018n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Touch \u2018n Go eWallet establishes one-stop insurance hub GOprotect"}, {"url": "https://technode.global/2023/04/17/indias-betterplace-acquires-malaysian-flexi-talent-solutions-platform-troope/", "page": 34, "title": "India\u2019s BetterPlace acquires Malaysian  flexi-talent solutions platform TROOPERS", "contents": "BetterPlaceBetterPlace said in a statement that its acquisition of TROOPERS will accelerate its presence in the region and establish a stronger foothold in Southeast Asia. It said the acquisition will integrate TROOPERS\u2019 automated gig matching and rostering features into BetterPlace\u2019s comprehensive SaaS platform. According to Pravin Agarwala, Co-Founder and Group Chief Executive Officer of BetterPlace, Southeast Asia is expected to see a significant growth in demand for gig workers in the next five years, with the gig economy growing by 31 percent since 2017, well ahead of the growth in conventional workforce,In Malaysia alone, he said 84 percent of hiring managers prefer hiring gig-workers. \u201cWe are pleased to offer a robust SaaS solution catering to the growing market demand. Our comprehensive SaaS platform and artificial intelligence (AI) based algorithms, combined with TROOPERS; innovative flexi-talent solutions, enables enterprises to effectively tackle challenges such as high attrition rates, escalating labor and management costs, and skilled workforce shortages, \u201cConcurrently, frontline workers can optimize their earning potential through TROOPERS\u2019 proprietary gig matching algorithms,\u201d he added. TROOPERS, founded in 2017, is a flexi-talent solutions platform that offers on-demand, pre-screened, part-time frontline workers to enterprises, enabling them to scale up their gig workforce based on operational demands. With a machine learning algorithm achieving a 95 percent matching rate, TROOPERS has helped over 50,000 gig workers in Malaysia find employment since its inception. As part of its ongoing commitment in building a flexible ecosystem, TROOPERS launched the TROOPERS App in 2021 which has since garnered over 180,000 verified users, generating over MYR20 million ($4.52m) in income for gig workers with more than 200,000 shifts transacted on the app. \u201cMajority of the workforce ecosystem in Southeast Asia is informal, making it difficult for workers to discover supplementary jobs or increase their earning potential,\u201cAdditionally, workers do not have the necessary skills to match growing enterprise requirements,\u201d said Joshua Tan, Co-Founder and Chief Executive Officer of TROOPERS. Building on the principles of transparency, accountability, and legitimacy, he said he started TROOPERS to address talent shortage and workforce productivity for enterprises while creating better livelihoods for workers in Malaysia. \u201cWe are eager to utilize BetterPlace\u2019s technological prowess and industry knowledge to scale our offering, potentially transforming the landscape of frontline work in Southeast Asia,\u201d he added. According to the statement, gig and workspace as a service (WaaS) represent the future of work, addressing the high variability in demand patterns often experienced by enterprises. Companies increasingly seek to bridge skill gaps through \u201cjust in time\u201d or adequate supply while enabling workers to maximize their earning potential by connecting them with suitable gigs. However, enterprises continue to face challenges in finding the right flex- talent, managing rostering and addressing skilling issues, which ultimately impact the productivity and efficiency of their operations. BetterPlace said the firm continually develops cutting-edge, tech-driven solutions that enable enterprises to be future-ready. The company\u2019s artificial intelligence (AI)-powered enterprise platform provides robust matchmaking capabilities for companies seeking skilled candidates for gig and full-time positions. In addition to hiring and applicant tracking software (ATS) solutions, the company also offers remote onboarding, rostering, and digital upskilling capabilities for enterprises. Workers, in turn, gain access to higher earning opportunities, enhancing their earnings per hour. The acquisition of TROOPERS follows BetterPlace\u2019s recent expansion in the region. In February 2023, BetterPlace acquired Indonesia\u2019s leading blue collar workforce fulfillment platform, MyRobin, marking the company\u2019s first foray into the Southeast Asian region. Founded in 2015, BetterPlace is Asia\u2019s largest SaaS and frontline workforce management platform. The company has over 30 million workers on the platform and over 1,100 companies as clients. Being a full- stack solution, BetterPlace caters to the entire value chain of frontline workforce management from verification, discovery, hiring, and onboarding to upskilling, productivity management and benefits transfer. BetterPlace has also launched their business to consumer (B2C) platform Rocket which partners with enterprises to upskill frontline workers free of cost so that more frontline workers are job ready and enterprises have access to pre-trained frontline workforce. Malaysia\u2019s Krenovator introduces AI Coding Assistant to accelerate coding learning for tech talents"}, {"url": "https://technode.global/2023/04/17/malaysia-plans-to-set-up-second-5g-network-from-next-year-report/", "page": 34, "title": "Malaysia plans to set up second 5G network from next year \u2014 report", "contents": "Malaysia plans to introduce a second 5G network from next year, Malaysia\u2019s 5G roll-out by state agency Digital Nasional Bhd (DNB) has seen repeated delays since its launch in December 2021 because of industry concerns over pricing and transparency, as well as worries that a single government-run network would result in a nationalized monopoly, according to Anwar has ordered reviews of billions of dollars in government projects as he looks to strengthen governance and minimize wasteful spending since taking office in November last year. He has also vowed to boost competition to ensure better services for the public. Anwar\u2019s government is now planning to introduce a second 5G network from January 2024 to challenge DNB\u2019s lock on the market, four sources familiar with discussions told \u201cThe matter is still under review,\u201d Ahmad Firdaus Mohd, press secretary to the communications minister, said in a text message, without elaborating. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. DNB deployed its network in late 2021 with the participation of two telecommunications firms on a trial basis. The roll-out came under scrutiny again after Anwar took office in November and announced a review of the 5G plan, saying it had not been formulated transparently by the previous administration. DNB denied that claim. The plan for a second network will be contingent on DNB and mobile operators ensuring that 5G network coverage reaches the government\u2019s target of 80 percent of the country\u2019s populated areas by the end of this year, the sources said. A proposal on the plan is expected to be submitted to the Cabinet on Wednesday, two of the sources reportedly said. Communications Minister Fahmi Fadzil said last Friday that he hopes to raise 5G matters in Cabinet this week, media reported. Fahmi also said last week that 5G network coverage had reached 55 percent in populated areas. DNB has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. Three carriers \u2014 CelcomDigi, Telekom and YTL \u2014 agreed last year to take up a collective 65 percent stake in the agency, with the government holding the remaining 35 percent. Two major mobile operators \u2014 Maxis and U Mobile \u2014 declined to take up equity in DNB, Malaysia\u2019s MRANTI stepping up pace to accelerate 5G enterprise innovation"}, {"url": "https://technode.global/2023/04/14/funding-societies-partners-cgc-to-launch-sme-portfolio-guarantee-to-improve-malaysian-sme-digital-financing-access/", "page": 34, "title": "Funding Societies partners CGC to launch SME Portfolio Guarantee to improve Malaysian SMEs digital financing access", "contents": "Funding SocietiesBoth parties said in a statement on Friday that through the partnership, Funding Societies and CGC are extending the first tranche of financing up to MYR10 million ($2.27 million) under the SME Portfolio Guarantee Scheme via Funding Societies\u2019 leading digital financing solutions to benefit the underserved and unserved yet creditworthy micro, small and medium enterprises (MSMEs). The partnership also marks the first strategic collaboration between CGC and an SME digital financing platform. Under this scheme, eligible SMEs can apply for financing between MYR50,000 ($11358) and MYR500,000 ($113,585). SMEs that qualify for the SME PG will have access to longer-term financing and enjoy preferential interest rates, lowest among Funding Societies\u2019 existing portfolio of financing from similar segments, easing their monthly cash flows as they grow their businesses, particularly in this post-pandemic period.  \u201cWe are pleased to strengthen our partnership with CGC via the SME Portfolio Guarantee agreement,\u201cWith the PG in place, we would widen access to financing facilities for underserved and unserved SMEs in our key market, Malaysia,\u201d said Kelvin Teo, Co-founder and Group Chief Executive Officer of Funding Societies | Modalku. According to him, these SMEs may have a viable business model but lack the collateral to obtain financing via traditional financing channels. \u201cOur financing would support SMEs to either expand or sustain their operations, particularly as SMEs bounce back post-Covid in resilience, \u201cAs for our investors, the SME PG also lowers the risks of non-repayment by SMEs,\u201d he added. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. It is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. In eight years, it has helped finance over 5 million business deals close to MYR13.39 billion ($3.04 billion) in funding. CGC was established on 5 July 1972. It is 78.65 percent owned by Malaysian Central Bank and 21.35 percent by the commercial banks in Malaysia. CGC aims to assist micro, small, and medium-sized enterprises (MSMEs) with inadequate or without collateralAs of December 2022, CGC has availed over 522,075 guarantees and financing to MSMEs valued at over MYR90 billion ($20.45 billion) since its establishment. On February 9, 2018, CGC introduced imSME, Malaysia\u2019s first SME online financing/loan referral platform. The imSME serves as an alternative channel for MSMEs to source for financing products, saving them both the time and the hassle of going through time-consuming processes. From the time of its inception to the end of December 2022, the imSME portal had received more than 2.41 million visits with more than 66,608 registered MSMEs under the portal. Funding Societies partners Food Market Hub, Supply Bunny to launch financing program for F&B in Malaysia"}, {"url": "https://technode.global/2023/04/14/analyst-sees-malaysia-emerging-as-data-center-in-asia/", "page": 34, "title": "Analyst sees Malaysia emerging as data center in Asia", "contents": "Analyst said Thursday it sees Malaysia as an emerging data center hub in Asia, with supportive pro-business policies to attract and retain data center investors. RHB Investment Bank Bhd said in a report that the unity government under Prime Minister Anwar Ibrahim is committed to further accelerating digital adoption in the country, which augurs well for the domestic data center industry. According to the research house, the positive outlook of the data center sector is also supported by the New Investment Policy unveiled by the Ministry of International Trade and Industry (MITI) in Oct 2022, where the government is looking to boost economic complexity to spur high-value job opportunities. It said the country\u2019s large pool of knowledge and skilled workers portends a significant competitive advantage in catalysing greater foreign direct investments, which is crucial for the data center space. Aside from Amazon Web Services (AWS) and Microsoft, which have committed to setting up cloud regions in the country, it said the likes of global data center names such as GDS, Equinix, and Yondr Group are also pouring in significant capital to construct their maiden facilities in the country. According to RHB, Malaysia is seeing accelerated data center capacity plant-up, with hyperscalers making landfall. It said Malaysia is seeing a raft of new/emerging data center investments with over 800MW capacity projected to come on stream in phases over the next five years, with lower land and energy costs as the key draws. It said Singapore\u2019s decision in early 2022 to calibrate new data center builds has been a blessing in disguise, with the likes of Equinix, AirTrunk, Yondr Group, and GDS Holdings locating their maiden facilities in Malaysia\u2019s southern state of Johor. More importantly, it views the setting up of cloud regions by Microsoft and AWS as a major coup with significant upsides for the domestic data center industry and the economy. However, RHB also noted the key risks for the data center industry include energy costs and availability, internet bandwidth, the ease of doing business, political stability, and natural disasters. \u201cIncreasing competition in the region is a growing risk, as it could reduce investments in the individual countries. Therefore, government incentives and regulations form a key part of investment decisions,\u201d it said.  For data center players, it said sustainability will be a key issue in the long term, with the growing emphasis on energy efficiency. New innovations present in newer data centers may reduce the demand for older, less efficient data centers, it said. Overall, RHB opined that there is a rise of data centers in ASEAN. It said the demand for hyperscale data center facilities in the region is being fuelled by strong investments and upgrades to new technologies and the transition to 5G networks. It said ASEAN has become a major hotspot for data centers, thanks to accelerated digitalisation, accommodative policies, and the lower cost of land and energy, with content and over-the-top (OTT) providers focusing on the region\u2019s population demographics and clamorous appetite for social media. Consequently, it said hyperscalers are compelled to move closer to end-users (edge computing) to reduce latency with the setting up of new cloud regions. With cloud and enterprise applications generating vast amounts of data with different formats and protocols, it opined that data centers will enjoy secular growth. It noted data centers allow artificial intelligence (AI) to process massive datasets for training and inference, given their vast computing resources and storage. As more organizations adopt AI into their operations, it said there is a corresponding rise in data generation. Cited Frost and Sullivan, RHB said Malaysia, Singapore, and Indonesia are expected to account for a combined about 74 percent of the $5.7 billion ASEAN data center market by 2025. Cited Arizton Advisory and Intelligence\u2019s Mar 2023 report, it said the Indonesian data center market is expected to grow at a 6 percent compound annual growth rate (CAGR) between 2022-2028 to $3.1 billion. The growth will be fuelled by rapid capacity expansion by hyperscalers, data localisation regulations, and as internet penetration closes the gap with its ASEAN peers, the research house said.  It also said Indonesia is already home to multiple cloud regions by Google, Alibaba, Amazon, Huawei, and Microsoft with Batam Island emerging as the new data center economic zone. Meanwhile, it said Singapore\u2019s calibrated data center growth is squeezing inventory resulting in overflow to neighbouring hubs. While Singapore continues to be the epicentre of data center growth in South-East Asia, it said the more stringent conditions laid out for new builds have compelled investors to consider alternative sites/hubs in the region. It also said the regionalization of the data center business is a key focus area for Singtel, with about 70MW capacity to be added over the next three to five years from its Indonesia and Thailand joint venteres. It said the expansion will see its data center footprint expand to more than 170MW regionally from about 70MW in Singapore currently. Malaysia\u2019s MN Holdings partners China\u2019s DC-Science to set up high performance data center in Malaysia"}, {"url": "https://technode.global/2023/04/13/lotus-cars-aims-to-re-establish-brand-in-malaysia-report/", "page": 35, "title": "Lotus Cars aims to re-establish brand in Malaysia \u2013 report", "contents": "Lotus Cars Malaysia, the sole local franchise holder for UK-headquartered General manager Tengku Ezan Ley Tengku Mahaleel said Lotus\u2019 new journey in Malaysia will be complemented by the Lotus Emira and the all-new fully electric Lotus Eletre which was launched on Thursday (Apr 13) in the Malaysian market and for the first time in Asia. \u201cMarket share is not a concern at the moment as we want to reestablish the Lotus car brand again in Malaysia,\u201d he told reporters after the launch of the Lotus Eletre, national news agency Malaysia\u2019s national car maker Proton was the owner of Lotus Cars from 1996 to 2017. In June 2017, China-based Zhejiang Geely Holding Group became the major shareholder of Lotus Cars with 51 percent, while the remaining 49 percent is owned by Malaysian tycoon Syed Mokhtar Albukhary through Etika Automotive Sdn Bhd, according to the report. Tengku Ezan Ley said a total 140 bookings has been collected as of today for Lotus Eletre. In total, 200 units of the hyper sports utility vehicle (SUV) are available for this year. They come in three variants \u2014 Eletre, Eletre S and Eletre R. Tengku Ezan Ley said Lotus Cars Malaysia is strengthening its commitment for the domestic market with new model introduction, sales and after-sales initiatives. He said that the company is also planning to introduce new concept outlets next year and showrooms mainly in the Klang Valley. To complement the launch of Eletre, Lotus Cars Malaysia and Gentari Sdn Bhd\u2019s wholly-owned subsidiary Gentari Green Mobility Sdn Bhd have signed a memorandum of understanding (MoU) to explore collaborations in EV charging infrastructure at its facilities, Lotus EV owners\u2019 premises as well as public areas. Gentari chief green mobility officer Shah Yang Razalli said the MoU is for a period of two years. The parties are also seeking opportunities to collaborate in the exploration of and including the introduction of Zero Emission Vehicle Fleet solutions in Malaysia, renewable energy deployment at Lotus Cars Malaysia\u2019s facilities and a digital platform. Since its introduction in June 2022, Gentari through its affiliated entities has deployed more than 150 charging points across 35 locations in Malaysia and over 160 charging points in India. Gentari also said it aims to capture 10 percent market share (circa 25,000 charging points based on current estimates) across key markets in Asia Pacific by 2030. Gentari aims to install 9,000 public charging points by 2026, with an anchored presence in Malaysia and India. Malaysia\u2019s DRB-Hicom partners China\u2019s Geely to develop Automotive High-Tech Valley in Malaysia"}, {"url": "https://technode.global/2023/04/11/the-k-startup-grand-challenge-2023-opens-its-doors-to-malaysia/", "page": 35, "title": "The K-Startup Grand Challenge 2023 opens its doors to Malaysia", "contents": "The Returning for its 8th year, the program aims at bringing international startups, with a focus on Southeast Asia (SEA) and Australia and New Zealand (ANZ) startups, KSGC said in a statement on Tuesday. Applications open on April 10 and close on May 18 for startups keen on the opportunity to work and build a strong foundation in South Korea. KSGC was launched by the National IT Industry Promotion Agency (NIPA) in 2016 and has been integral in connecting promising startups from around the world to South Korea. The Korean government has committed to establishing the country as a startup powerhouse over the years. Cited a report, KSGC said that early-stage startup funding between 2019 to 2021 in South Korea was at $2.3 billion compared to $687 million for the global average, and successful startups in South Korea took around eight years to exit in comparison to 9.4 years for the global average in 2023. The KSGC program has proven to be an international accelerator in high demand, with 2,653 global startups applied from 122 countries for KSGC 2022. To date, the program has resulted in 167 startups setting up bases in Korea. \u201cThe K-Startup Grand Challenge offers startups in Singapore and Malaysia a unique opportunity to access the market in Korea, funding, mentorship, and network building, \u201cWe look forward to supporting SEA Start-Ups and Scale-Ups looking to accelerate their growth regionally and build a business for the long-term,\u201d said Nim Sivakumaran, Head of Strategic Partnerships at Arcc Spaces. According to the statement, meetup sessions are planned for Singapore, Malaysia, and Indonesia in the next few weeks to answer any questions startups that are interested in the program have. \u201cPeatix is delighted to come on board as a marketing partner for the upcoming KSGC 2023,\u201cBeing an event discovery platform of more than ten years, we look forward to promoting the valuable initiatives organized by accelerator programs like KSGC to our growing network of startup communities,\u201d said Peatix Marketing Lead Michelle Leong. KSGC 2023 will offer 60 startups from around the world that are less than seven years old a 3.5-month residency program from July to November. Applications open on April 10 and close on May 18. Each startup\u2019s representative must be of foreign nationality, and express a clear interest in expanding into the Korean and East Asian markets. There is a cash prize for the top five startups, with $120,000 for the winner. The program will be conducted in Pangyo Techno Valley . Participants will have their living expenses covered, and be provided with free office and project spaces to work from. Startups will have access to mentors, consultants, and business development teams to help fulfil their potential and aid in their localization efforts. With more than ten startup unicorns based in South Korea, KSGC opined that focusing on startup diversity by bringing innovation and ideas from SEA could be the key to the future of the tech scene in Korea. \u201cThe tech landscape changes rapidly, and we are proud to see the volume of strong and diverse startups who have participated in the program over the years, \u201cFor 2023, we are excited to work closely with our startups and help them reach the next level for KSGC 2023,\u201d said Shin Sung Woo, director of Korea IT Cooperation Center (KICC) Singapore. MYStartup accelerator Program Cohort 2 opens for registration, offering funding to fuel tech startups in Malaysia"}, {"url": "https://technode.global/2023/04/11/citaglobal-partners-genetec-technology-to-launch-battery-energy-storage-system-for-renewable-energy-in-malaysia/", "page": 35, "title": "Citaglobal partners Genetec Technology to launch battery energy storage system for renewable energy in Malaysia", "contents": "Citaglobal Genetec BESS Sdn Bhd (Citaglobal Genetec BESS), a special vehicle formed by The launch showcased the fully operational 1MW BESS prototype (MYBESS) that was successfully developed and piloted in December 2022, and currently supports the Genetec EPIC plant\u2019s energy needs, the duo said in a statement on Tuesday. Citaglobal and Genetec Technology exclusive collaboration agreement was formalized on October 6, 2022 to develop battery energy storage management systems to store and manage excess power during the generation of renewable energy. The development of MYBESS is meant to solves two of the biggest ecosystem challenges, which are large scale and capacity energy storage as well as portability. This could also be a key solution to rural electrification and connectivity. \u201cCitaglobal Genetec BESS is excited about the prospects ahead of us, \u201cThe combined strengths, capabilities, deep and long-standing industry experience of both Citaglobal and Genetec in the infrastructure construction and engineering, as well as intelligent turnkey manufacturing automation especially for the electric vehicle and renewable energy industries, has enabled us to go-to-market with a very compelling end-to-end BESS solution,\u201d said Mohamad Norza bin Zakaria, Chairman of Citaglobal Genetec BESS. \u201cThis solution caters to different industry verticals \u2013 from transport, manufacturing, energy supply and distribution, telecommunications \u2013 to mention some, especially in grid integration to manage intermittent renewable energy resources which remains a challenge today,\u201cIn addition to supporting national and international infrastructure energy needs, our readiness positions us competitively to enable faster-time-to-market deployment,\u201d he added. Genetec Founder and Managing Director Chin Kem Weng said the firm is excited to have achieved this milestone with Citaglobal. \u201cFollowing the successful pilot, we have been scaling our readiness to support large orders and rising demand as countries and companies across different industries fast-track their renewable energy plans,\u201cFrom the onset, we see opportunities with our neighbouring ASEAN countries, and we also expect early market adopters to continue to scale and improve infrastructure, paving the way for greater opportunities to supply this locally developed, end-to-end BESS solution,\u201d he added. According to the statement, the Citaglobal Genetec BESS end-to-end solution comprises the BESS structure and management and power conversion subsystem, to the communications interface, that is highly customized to support different renewable energy sources such as solar, wind and hydro. \u201cIn 2022, global renewable energy (RE) capacity rose by 10 percent, while investment in the green energy transition amounted to a record $1.1 trillion worldwide, \u201cAll these reflect the world\u2019s firm shift towards a future increasingly powered by renewable energy,\u201d Malaysia\u2019s International Trade and Industry Minister Tengku Zafrul Abdul Aziz said. According to him, for MITI, one priority under the New Investment Policy involves strengthening Malaysia\u2019s environmental, social and governance (ESG) adoption, in support of Malaysia\u2019s net zero target by 2050, and a key component of this is to rethink how we generate, distribute, store, supply and consume energy. \u201cTo this end, the development of Malaysia\u2019s homegrown MYBESS, by Citaglobal Genetec BESS, is not only a step in the right direction in support of Malaysia\u2019s future (renewable) energy security, but also an important opportunity to begin positioning Malaysia in high-technology industries and higher in the global value chain, \u201cThe time to act is now, and through the New Industrial Master Plan 2030 which will be launched later in the year, MITI is taking bold steps to enhance our industrial ecosystem, underscored by key considerations such as ESG compliance and future industrial energy sufficiency,\u201d he added. Listed in 2008, Citaglobal is a diversified group with multiple revenue streams. It is currently involved in civil engineering and construction (CEC), oil and gas (OG), power generation, property development and manufacturing. Its CEC segment is primarily involved in infrastructure construction contracts. The OG segment is principally engaged in onshore oil and gas downstream activities, while the manufacturing segment consists of the manufacturing of cold-drawn bright steel products. Its power generation division caters to the niche markets of the O&G industry, sets up and supplies mobile and stationary power generation solutions to utility companies, and supplies SEDA-approved locally assembled biogas generators in the green energy segment. Genetec Technology is a technology firm in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the electric vehicle, automotive, hard disk drive, consumer goods and healthcare sectors. JLand Group partners Gentari to explore renewable energy solutions and green mobility ecosystem in Malaysia"}, {"url": "https://technode.global/2023/04/11/jland-group-partners-gentari-to-explore-renewable-energy-solutions-and-accelerate-green-mobility-ecosystem-growth-in-malaysia/", "page": 35, "title": "JLand Group partners Gentari to explore renewable energy solutions and green mobility ecosystem in Malaysia", "contents": "Malaysian property developer JLG said in a statement on Tuesday that this strategic partnership aims to develop an eco-friendly ecosystem across JLG\u2019s residential, commercial, and industrial projects. Pursuant to the signing of this MoU, JLG and Gentari will undertake feasibility studies on the integration of Gentari\u2019s renewable energy solutions at selected strategic assets and industrial parks under JLG, while the implementation of the green mobility ecosystem in JLG\u2019s selected projects will commence in the third quarter of 2023. \u201cOur partnership with Gentari signifies a milestone in our progress towards decarbonisation initiatives and enhanced capabilities in the renewable energy sector,\u201d \u201cThrough our joint effort with Gentari, we are further equipped to act on our continued commitment for sustainable growth,\u201d said Sr Akmal, Director, Real Estate and Infrastructure Division of Johor Corp (JCorp) and Deputy Chairman of JLG. According to him, the wide-scale deployment of the green mobility and renewable energy ecosystems across the firm\u2019s main developments namely Menara JLand, KOMTAR JBCC, B5 Johor Street Market, Ibrahim International Business District (IIBD) and Bandar Dato\u2019 Onn (BDO), showcases the depth and extent of the partnership\u2019s value creation potential, considering the number of end-users present throughout its operating entities. As part of the collaboration, JLG and Gentari will also explore the potential installations of an electric vehicle (EV) charging hub at Ibrahim Technopolis (IBTEC) and renewable energy solutions for JLG\u2019s industrial parks. \u201cWith the deployment of these renewable energy solutions and green mobility infrastructure at JLG\u2019s assets and industrial parks, we are advancing clean energy transition through a multi-industry approach,  \u201cThis is especially crucial, with JLG\u2019s wide-spread presence and operations in the State of Johor, as we look forward to jointly enhance the energy efficiency of industrial parks, and that of its tenants,\u201d Sr Akmal added. Sushil Purohit, Gentari\u2019s Chief Executive Officer, said the journey towards achieving Malaysia\u2019s net zero goals will require the whole of society\u2019s efforts.  \u201cAs a clean energy company focused on delivering the solutions required to put cleaner energy into action, Gentari seeks to collaborate with leading entities with a broad and diversified portfolio such as JLand Group, to enable efficient implementation of integrated solutions,\u201cWith JLand Group, we are able to simultaneously explore initiatives under our core pillars of Renewable Energy, Hydrogen and Green Mobility, cutting across the electron value chain to create greater value in the path towards net zero,\u201d he added. As part of the collaboration, Gentari\u2019s vehicle as a service (VaaS) offering will be implemented as a green mobility subscription service at JLG\u2019s residential, commercial and industrial developments, to initiate the adoption of EVs.  Through the introduction of EV fleet subscription by Gentari, JLG seeks to accelerate low-cost investment transition into EV.  JLG is a wholly owned subsidiary of JJCorp, focusing on spearheading the group\u2019s real estate and infrastructure businesses. JLG\u2019s portfolio spans across diversified real estate activities and investments, including integrated parks, industrial, logistics and data centres. JLG\u2019s core businesses encompass four strategic areas, namely real estate development, asset lifecycle management, real estate investment and infrastructure and utilities, allowing for strategic value optimization for its businesses and assets across diverse industry presence. Gentari is a clean energy company focused on delivering the net zero solutions. The firm offers lower carbon solutions through three initial core pillars \u2013 renewable energy, hydrogen and green mobility, forming a portfolio of solutions cutting across the electron value chain to help customers achieve net zero emissions. In the long term, Gentari aims to be a full suite net zero solutions provider, creating greater value, connecting businesses, and making the journey to net zero possible. Malaysia\u2019s Sunview partners Huawei for renewable energy"}, {"url": "https://technode.global/2023/04/11/axiatas-boost-to-leverage-ecosystem-as-it-prepares-to-launch-its-digital-bank-heres-how-and-why-qa/", "page": 35, "title": "Axiata\u2019s Boost to leverage ecosystem as it prepares to launch its digital bank. Here\u2019s how and why. [Q&A]", "contents": "Malaysia central bank announced in April last year the five successful applicants for the digital bank licenses as approved by the Minister of Finance Malaysia. The country will have three digital banks licensed under the Financial Services Act 2013 (FSA) and two Islamic digital banks licensed under Islamic Financial Services Act 2014 (IFSA), according to The consortium of After almost one year, Boost is the regional full spectrum fintech arm of Axiata that financially empowers millions of customers \u2013 both users and merchants, across seven countries in Southeast Asia through our ever-expanding fintech ecosystem spanning its all-in-one fintech app, merchant solutions, AI-based lending business, and cross-border payment platform, information from its website showed. Boost is also backed by Singapore-based insurer Great Eastern, which acquired a 21.875 percent stake in the entity for $70 million in June 2020. Axiata has controlling interests in six mobile operators under the brand names of \u2018Celcom\u2019 in Malaysia, \u2018XL\u2019 in Indonesia, \u2018Dialog\u2019 in Sri Lanka, \u2018Robi\u2019 in Bangladesh, \u2018Smart\u2019 in Cambodia and \u2018Ncell\u2019 in Nepal, as well as minority interests in \u2018Idea\u2019 in India and \u2018M1\u2019 in Singapore. As equity partners in the consortium, Axiata\u2019s subsidiary, Boost, will own a majority stake of 60 percent, while RHB Bank will own the remaining 40 percent in the digital bank. RHB Banking Group, on the other hand, is a multinational regional financial services provider with a presence in nine countries in the ASEAN region, with more than 14,000 employees. Its core businesses are structured into five business pillars, namely Group Community Banking, Group Wholesale Banking, Group Shariah Business, Group International Business, and Group Insurance. Other successful applicants of the digital banking licenses include a consortium led by GXS Bank Pte. Ltd (Grab-Singtel consortium) and Kuok Brothers Sdn. Bhd and a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd; a consortium of AEON Financial Service Co. , Ltd. , AEON Credit Service (M) Bhd and MoneyLion Inc. ; and a According toIn the interview, Sheyantha also shared his views on what opportunities Boost sees in building a digital bank, the challenges it faces and how to address them. Below are the edited excerpts: Currently, the digital bank\u2019s progress is on track within the timeframe established by the central bank. We will make the relevant announcements when the time comes. The foundation of who we are at Boost, as a regional full spectrum fintech arm of Axiata, is our purpose and mission to serve the underserved by financially empowering both users and merchants to be unstoppable with greater access to financial services through the power of technology, data, and artificial intelligence (AI). In the Malaysian market, industry findings estimated that 55 percent of the adult population are unbanked or underbanked, while just 39 percent of Malaysians can get a loan from their bank. Additionally, studies also found that 87 percent of local micro, small, and medium-sized enterprises (MSMEs) faced issues with banks on financing and loans, with some of the financing difficulties faced relating to the requests for higher collateral and additional guarantor, as well as delays in loan approval and disbursement. With the recently granted digital bank license by the Malaysian central bank, Bank Negara Malaysia (BNM), the Boost-RHB Consortium can better drive innovation and serve the financially underserved, primarily MSMEs, self-employed individuals within the gig economy, retirees, and much more. The upcoming digital bank is expected to complement traditional financial institutions by filling in the gap and catering to the underbanked and unbanked segments, rather than disrupting the banking sector, in the medium term. As digital banks are operating on a mandate to drive greater financial inclusion, it will indirectly boost economic growth and increase the confidence of industry players. Industry research finds that widespread adoption and use of digital finance could potentially increase the gross domestic product (GDP) of emerging economies by 6 percent, or a total of $3.7 trillion, by 2025. However, one of the primary issues or challenges raised when it comes to serving the financially underserved segments, which are often considered thin-file and non-tech-savvy, is the question of sustainability. Most successful digital banks will leverage on their respective ecosystems, and in the case of Boost, it is no different. This ensures that those that successfully execute this model will have a relatively low customer acquisition cost. As for rising rates, it will not have material impact on the digital banks in their nascent stages, as most banks would launch with simplified products with shorter tenors and would not be susceptible to very large asset-liability mismatches on their balance sheet. They should be able to ride the interest rate cycle without too much impact on their net interest margins (NIMs). However, rising interest rates and economic slowdowns may impact vulnerable sectors, such as MSMEs and the B40 community, which are the target groups that digital banks are expected to cater to, hence a heightened focus on asset quality will have to be maintained. For Boost, over the past few years, we have been laying the foundation and building the essential blocks for a digital bank, such as through Boost\u2019s AI-based lending business that is already operating at scale sustainably. As of 2022, we have accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of our customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate. Hence, for Boost, this venture is not greenfield, but more of a brownfield venture. This is a testament to our simple and conveniently available digital-first solutions, which incorporates a comprehensive e-Know Your Customer (eKYC) via a 5-minute digital application journey supported by AI and machine learning tools, with fund disbursement within 48 hours upon approval. It is also possible for Boost as, through our holistic fintech ecosystem and data driven approach, we can embed our services into the existing transaction journey and purchasing cycle of businesses. This digitally solves their pain points without needing to incite any behavioural change \u2013 in other words, we go to our customers. For example, when small retail stores make orders from distributors to buy weekly stock for their inventory management system, via Boost\u2019s API link and technology, we can pre-score merchants based on their purchasing data. Then, we can offer lending solutions through that API link for them to order stock using credit as an alternative to cash within that purchasing module. We are there where and when our customers need us. It is also worth noting that, in the United States, studies shown that embedded finance already accounted for $2.6 trillion (MYR11.1 trillion) in 2021 and, by 2026, it will exceed $7 trillion (MYR30 trillion). Asia is expected to follow suit as the market is primed for an embedded finance boom. This is due to its value proposition of improving customer experiences and creating greater financial access, along with providing cost-reduction and risk-reduction opportunities throughout the value chain. The future development of embedded financial technology is widely regarded to also have the potential of completely changing the financial service business model across the globe and becoming a full-blown gold rush. Within the Southeast Asian market, Boost already has a head start in this space. Boost will continuously expand and further embed our AI-based lending business across our holistic fintech ecosystem, spanning our all-in-one fintech app, merchant solutions platform, and cross-border payment platform. With industry case studies indicating that significant business experience and substantial ecosystems are common factors of success for digital banks worldwide, Boost has distinct and strategic advantage as an incumbent full spectrum fintech player that meets all the criteria. As we further embark on this journey, with Boost\u2019s proven track record and holistic FinTech ecosystem, as well as with the core banking expertise from RHB Bank, we aim to build on our incumbent advantage and hit the ground running soon. Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]"}, {"url": "https://technode.global/2023/04/10/malaysias-doc2us-launches-new-home-based-healthcare-services-doc2home/", "page": 35, "title": "Malaysia\u2019s DOC2US launches new home-based healthcare services DOC2HOME", "contents": "DOC2USDOC2US said in a statement that DOC2HOME is a hybrid digital health app that attends to patients\u2019 healthcare needs directly from their homes without the hassle of travelling. Apart from providing medical services right to the doorstep, its flagship Health Concierge service, are trained to provide triage under the supervision of a medical practitioner, where patients and caregivers can access health advisory from healthcare providers at their fingertips. \u201cDOC2HOME is a modern-day adaptation of a historical practice in medicine \u2013 house calls, whereby doctors and healthcare providers go to the homes of their patients rather the other way around,\u201d said Dr Raymond Choy, Chief Executive Officer of DOC2US. According to him, digitalization is also a big part of this transformation. \u201cOther than home visits, DOC2HOME takes pride in its array of virtual health services powered by DOC2US, for the modern homeowner,\u201cWe bring together a diverse team of quality healthcare professionals from doctors, pharmacists, dietitians and nutritionists to nurses, medical assistants, physiotherapists, wellness trainers and ambulance services, to uphold the quality of healthcare and offer affordable healthcare services at the residents\u2019 comfort,\u201d he added. According to the statement, the healthcare services are designed to accommodate today\u2019s fast-paced world, where the modern population is often on the move, and health is compromised for convenience as it is, at times, troublesome to travel to healthcare facilities for consultation, refilling medication and supplements or other healthcare supplies. This is more apparent for the elderly, expecting mothers, disabled and bed ridden as they often must rely on their caregivers for support. In the case of patients with chronic illness, straying from medical care and medication could put them at an even higher risk of morbidity from their existing condition. Through subscriptions, DOC2HOME\u2019s resourceful Health Concierge supports the communities in accessing quality health advisory and healthcare providers. Building on the DOC2US telehealth ecosystem, DOC2HOME\u2019s home-based services complete the circle of hybrid care, by providing home care where residents can consult, receive care, and recover through integrated online and offline mediums without the need to even exit their premises. \u201cAccess to reliable healthcare is also a form of security and safety for many people, \u201cWe aim to collaborate with lifestyle-property developers who want to provide a home, not just a house, to its prospects,\u201d said Choy. According to him, this means incorporating comprehensive and personalized home-based healthcare services directly into the daily lives of the community. He said the firm is also thrilled to spearhead this with Malaysian property firm S P Setia, in line with what they have envisioned for their Eco-townships. \u201cOur shared value to centralise good health will safeguard the wellbeing of the Eco Series communities and provide residents with a peace of mind,\u201d he added. In conjunction with S P Setia\u2019s STAY Campaign, Goldea 2, the latest phase of Precinct Arundina at Setia Eco Park will be the first to offer DOC2HOME\u2019s healthcare services to residents of Goldea 2. DOC2US is the electronic prescription (e-prescription) telemedicine provider in Malaysia that has been awarded the \u201cFirst Digital Signature Electronic Prescription System\u201d by Malaysian Book of Records. Leveraging on cloud computing technology, the firm provides scalable and seamless remote healthcare services to consumers, patients, corporate clients, healthcare providers, and healthcare fraternities like clinics, and pharmacies. With more than 1 million e-prescriptions generated to date, DOC2US is co-founded by medical doctor Dr Raymond Choy, start-up entrepreneur Jack Lee and app development company Agmo Studio Sdn Bhd. Together, they operate DOC2US under a joint venture named Heydoc International Sdn Bhd. Malaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion"}, {"url": "https://technode.global/2023/04/10/malaysias-pnb-partners-gentari-to-deploy-59-ev-charges/", "page": 35, "title": "Malaysia\u2019s PNB partners Gentari to deploy 59 EV charges", "contents": "Malaysia\u2019s largest fund manager The chargers consist of two units of 11kW and 22kW alternating current (AC) chargers, and one unit of 60kW direct current (DC) fast charger, equipped with two charging points, both parties said in a statement. According to the statement, the chargers are the first for PNB Group and the first in Kelantan that operates 24 hours, for the convenience of EV drivers. PNB has partnered with clean energy solutions provider Gentari via its wholly owned subsidiary, Gentari Green Mobility Sdn Bhd, to install a total of 59 units of EV Chargers at 18 PNB Group properties. The installation is expected to be completed by the end of 2023. \u201cThe deployment of EV chargers will cover the offices, hotels and resorts, golf club and shopping malls under the PNB Group,\u201cOur next deployment will be in Villea Rompin Resort and Golf in Kuala Rompin, Pahang, Plaza Pelangi, Pelangi Leisure Mall and Perling Mall in Johor Bahru, Johor, Menara PNB in Kuala Lumpur and 12 other properties,\u201d said Rick Ramli, PNB Chief Investment Officer, Private and Strategic Investments. According to him, this initiative is aligned with PNB\u2019s Sustainability Framework Commitment #2 to drive decarbonization effort in its portfolio and will support the EV ecosystem under Malaysian Government\u2019s Low Carbon Mobility Blueprint 2021 \u2013 2030; a commitment to set up 10,000 EV charging stations nationwide by 2025. Gentari\u2019s Chief Operating Officer for Green Mobility Haikal Zubir said:\u201d We are pleased to have a like-minded partner in PNB with us on the journey towards sustainable mobility. \u201d\u201cThis partnership will see us providing necessary infrastructure at their properties to support the needs of electric vehicle drivers, starting with Perdana Kota Bharu, Kelantan,\u201cThis also signifies the expansion of our charging infrastructure footprint to the East Coast region that will boost range confidence of interstate travelers,\u201d he added.  Since its inception in 1978, PNB has been a trusted custodian of Malaysian wealth and assets, and holds the responsibility to lead and facilitate change, to ensure an orderly and just transition towards a sustainable economy.  PNB launched the PNB Sustainability Framework on April 21, 2022, which outlines 10 commitments for PNB\u2019s own operations as well as for its investments under the three pillars of environment, social and governance (ESG). The framework helps PNB to remain focused in response to a changing global investment landscape, where PNB aims to be a net zero enterprise by 2025, with a net zero portfolio by 2050, working together with its investee companies in support of Malaysia\u2019s net zero carbon emission target. The deployment of EV Chargers in PNB Group\u2019s properties is one of the initiatives under the \u2018Environment\u2019 pillar of the Sustainability Framework, in supporting the transition towards a green economy. Malaysia\u2019s Blueshark launches initiative to accelerate electric motorcycles adoption and development"}, {"url": "https://technode.global/2023/04/10/malaysias-mranti-stepping-up-pace-to-accelerate-5g-enterprise-innovation/", "page": 35, "title": "Malaysia\u2019s MRANTI stepping up pace to accelerate 5G enterprise innovation", "contents": "In driving enterprise 5G adoption forward, theCited a recent report by GSMA Intelligence, MRANTI said in a statement that Malaysia currently has a 1 percent adoption rate of 5G despite achieving close to 50 percent 5G population coverage. It said that industry pundits have alluded that a key indicator for the success of 5G must include enterprise innovation and use cases that provide compelling applications to intensify industry adoption. With Malaysia\u2019s ambition to raise its competitiveness and be a regional leader in 5G, it said new 5G enabled ports, smart hospitals, automated vehicles, smart manufacturing facilities and more must be designed, especially as neighboring countries have already deployed such industry-focussed solutions to market. \u201cAs many enterprises fast-track their digitalisation plans, we want to offer the right enabling environment \u2013 beyond infrastructure and technologies, for them to realize the full value of 5G,\u201d said Dzuleira Abu Bakar, Chief Executive Officer, MRANTI. Cited the 2022 EY Reimagining Industry Futures study, MRANTI said only 24 percent of enterprises are truly confident that their organization can successfully implement 5G. In this, many are said to be looking for transformation partners, not just technology suppliers \u2013 with up to 75 percent citing that ecosystem strategies as central to their five-year growth outlook. \u201cWith pressures to accelerate innovation whilst inking revenue for new products and services, enterprise 5G implementations must demonstrate positive financial outcomes with confidence \u2013 and cross-sector collaborations offer a good way forward,\u201d said Dzuleira. \u201cAt MRANTI, we connect innovators, researchers and businesses with resources and capabilities to drive better return on innovation, \u201cBeyond the hardware, partners and stakeholders \u2013 including telcos, government, corporate innovators, technical experts, academia and civil society \u2013 play an important role to incubate and catalyse innovations for a more enriching data-driven future,\u201d she added. According to her, these multi-stakeholder roundtable discussions open up new possibilities for dynamic business models and technical collaborations that serve to advance 5G enterprise development and adoption, Dzuleira. Dzuleira also explained that MRANTI PARK would provide a 5G enterprise-purposed facility soon. \u201cMRANTI 5G Experience Centre, to be launched by mid 2023, unlocks the potential for a wide variety of use cases to be developed, including those that help corporations meet\u201cThe Centre will host a prototyping, test, demo and lab area with speeds up to 1GBps to showcase industry applications and use cases by vertical sectors,\u201d she added. Infrastructure service providers, telcos and enterprises looking to partner on programs, test-bed a 5G Proof-of-Concept, test a 5G solution, or learn about applied 5G are welcome to connect with MRANTI. At MRANTI Park, innovators can leverage ultra fast 5G data networks for better communication efficiency (higher data rates, lower latency), connection density (reliability,The roundtable discussions follow from the recent tripartite Memorandum of Understanding inked between MRANTI, Digital Nasional Berhad (DNB) and Ericsson to accelerate the commercialisation of 5G-enabled Science, Technology, Innovation and Economy (STIE) solutions by and for enterprises based in Malaysia. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Centre (MaGIC), is Malaysia\u2019s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialise and scale. It offers innovators and industry access to integrated infrastructure, programs, services, facilities and a suite of resources. In doing so, MRANTI aims to expand Malaysia\u2019s funnel of innovation supply, and unlock new research and development (R&D) value by ensuring effective transitions in the commercialization lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters. The agency also runs a number of knowledge sessions and workshops for enterprise innovation. As a 4IR hub, MRANTI has five focus areas including dronetech, healthtech, agritech, bioscience and advanced technologies."}, {"url": "https://technode.global/2023/04/06/malaysias-soft-space-raises-31-5m-series-b1-funding-led-by-southern-capital-group/", "page": 35, "title": "Malaysia\u2019s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group", "contents": "Soft Space Sdn. Bhd. Southern Capital Group (SCG) Pte. Ltd, led the funding round, with participation from returning investor transcosmos Inc. , strategic investor JCB (previously announced), and venture capital fund Hibiscus Fund, jointly managed by RHL Ventures and South Korea\u2019s KB Investment, Soft Space said in a statement. According to the statement, the funds raised will be used to fuel the company\u2019s continued growth and expansion. With the additional capital from this funding round, the company is well positioned to continue its growth trajectory and achieve its goal of making payment acceptance accessible and affordable. These new investments demonstrate how Soft Space has won the investors\u2019 confidence in its management, business and technical acumen and its ability to execute its strategies in today\u2019s highly competitive fintech industry. \u201cBuilding on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next generation technological solutions,\u201d said Joel Tay, Chief Executive Officer of Soft Space. Founded in 2012, Soft Space simplified the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. The firm is supported by Malaysia Digital Economy Corporation (MDEC)\u2019s Global Acceleration and Innovative Network (GAIN) program and received financial support through MIDA\u2019s Domestic Investment Strategic Fund in 2022. \u201cWith the closing of this round, we are restructuring Soft Space\u2019s capital base to catapult the company towards high growth and strengthen our global market position, and we are confident that Soft Space will continue to attract global investors and further its ambition of creating impactful services for our clients. \u201d said Chris Leong, Chief Strategy Officer of Soft Space. Soft Space has shown strong growth in recent years with revenue almost doubling in the last two years. Now, Soft Space\u2019s full stack payment services is being used by more than 70 financial institutions and partners across 23 global markets including Japan, Europe, Oceania and Americas. \u201cSoft Space has proven itself in the highly competitive payments sector and has led the way with a number of firsts in the industry, a credit to its market credibility and maturity of its technology solutions,\u201d said Wong Chin Toh, Managing Director of Southern Capital. \u201cWe are pleased to be a part of this investment round and we look forward to working with the founders and our fellow investors to support Soft Space\u2019s ambitions,\u201d he added. Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global"}, {"url": "https://technode.global/2023/04/05/malaysia-china-explore-blockchain-technology-for-pco-to-facilitate-malaysias-exports-to-china/", "page": 35, "title": "Malaysia, China explore blockchain technology for PCO to facilitate Malaysia\u2019s exports to China", "contents": "Malaysia and China are exploring blockchain technology for preferential certificate of origin (PCO) to better facilitate Malaysia\u2019s exports to China. The Ministry of International Trade and Industry (Miti) in Malaysia said in a statement on Tuesday that the move is to support mutual recognition of digital certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) framework. This system, through its proposed single window framework, aims to improve trade facilitation and reduce technical barriers by offering more efficient and secure processing of goods originating from Malaysia to China. Further, adopting an e-system between Malaysia and China could greatly benefit businesses, including streamlining the customs clearance process and reducing storage costs at China ports. The cooperation is also expected to provide opportunities for human resource capacity building and knowledge sharing, while the e-system supports the development of a green economy. According to Miti, the initiatives such as this blockchain system for PCO will further bolster MalaysiaChina trade ties, building on China\u2019s existing track record of being Malaysia\u2019s largest trading partner for the past 14 years, as well as the momentum created by the implementation of the RCEP between ASEAN countries and its five free trade agreement (FTA) partners, including China. Under RCEP, participating countries aim to eliminate or reduce tariffs on a wide range of goods, which can increase trade and investment flows between member countries, and support intellectual property rights protection, e-commerce, and economic cooperation. By lowering barriers to trade and investment, the RCEP aims to promote economic growth and enhance regional integration in the Asia Pacific region. Meanwhile, the Malaysia External Trade Development Corporation (Matrade) said in a statement on Wednesday that Malaysia has secured potential exports to China worth MYR2.44 billion ($550 million) during the official visit of Malaysian Prime Minister Anwar Ibrahim to China. The potential sales with nine major Chinese importers are interested to source from Malaysia include palm oil and relevant products, edible bird\u2019s nest, food and beverages, durian and iron products. China has been Malaysia\u2019s largest trading partner for 14 consecutive years, comprising 17.1 percent share of Malaysia\u2019s total trade, expanding by 15.6 percent to MYR487.13 billion ($110.75 billion) compared to 2021. In 2022, China remained as Malaysia\u2019s major export destination and source of imports. Malaysia\u2019s exports to China surpassed MYR200 billion ($45.47 billion) mark for the first time, expanding by 9.4 percent to MYR210.62 billion ($47.88 billion) and was the highest value ever recorded. Malaysia\u2019s imports from China increased by 20.7 percent, valued at MYR276.5 billion ($62.86 billion). Malaysia\u2019s trade with China during the period of January to February 2023 decreased by 2.1 percent to MYR70.82 billion ($16.1 billion) compared to the corresponding period of 2022. Malaysia\u2019s exports to China shrank by 9.1 percent to MYR29.33 billion ($6.67 billion) on lower exports of iron and steel products, petroleum products as well as palm oil and palm oil-based agriculture products. However, increased exports were seen for electrical and electronics (E&E products, metalliferous ores and metal scrap as well as liquefied natural gas (LNG). Malaysia\u2019s imports from China for the period, edged up by 3.6 percent to MYR41.49 billion ($9.43 billion). Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says"}, {"url": "https://technode.global/2023/04/05/malaysian-healthtech-startup-qmed-asia-raises-1-16m-in-equity-crowdfunding-for-regional-expansion/", "page": 36, "title": "Malaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion", "contents": "Malaysian health-tech startup Leet Capital said in a statement on Wednesday that Qmed Asia has attracted support from 110 investors, including angel investors, the Malaysia Co-Investment Fund (MyCIF) and 1337 Ventures. \u201cOur mission has always been to redefine healthcare by equipping healthcare providers with innovative digital solutions that empower them to deliver exceptional, efficient, and personalized care to their patients,\u201d said Dr. Kev Lim, Co-founder of Qmed Asia. \u201cWith this funding, we are well-positioned for regional expansion into markets such as Indonesia and Saudi Arabia, while also driving the development of our deep-tech solutions in medical artificial intelligence (AI). \u201cWe are thrilled to continue our journey, fostering a positive impact on the healthcare industry through our groundbreaking products and services,\u201d he added. According to the statement, Qmed Asia was the winner of the 1337 Ventures ECF Accelerator. Established in 2018, Qmed Asia (formerly QueueMed) is founded by a group of doctors and engineers to assist both public and private healthcare providers with their digital health transformation. The idea was to address the problem of long queues in hospitals born out of Co-Founder Dr. Kev Lim\u2019s unpleasant hospital visit. Along with Dr. Tai Tzyy Jiun and Nic Tai, the company now serves over 4,000 healthcare providers in both the public and private sectors, with over 3 millions active patients to date. Qmed Asia\u2019s journey began as an appointment booking and mobile live queue system provider for the healthcare industry, and during the pandemic, they became the official partner for the operations of 42 COVID-19 vaccination centers, signing key partnerships with consumer giant Nestl\u00e9 Malaysia and property firm SP Setia Group. Qmed Asia recently unveiled two innovative products, including Qmed GO, a telehealth kiosk for workplaces, offering teleconsultations and remote patient monitoring run by local general practitioners (GPs), aimed to reduce employee medical coverage costs. The second product, Qmed Copilot, is an AI-powered clinical assistant that empowers healthcare professionals to make faster and more accurate diagnosis. By leveraging technology, Copilot allows doctors and clinicians to identify patterns and trends in patient data, effectively reducing diagnostic errors and ultimately improving patient outcomes. \u201cWe are thrilled to see Qmed Asia successfully fundraise. It\u2019s exciting to see innovative startups like Qmed Asia use alternative financing methods to raise capital and grow their businesses,\u201cEquity crowdfunding provides an avenue for startups to access a wider pool of investors, gain exposure, and build a community of supporters. We are proud to support Qmed Asia and other promising Malaysian businesses on our platform, and we look forward to seeing their continued growth and success. \u201d said Bikesh Lakhmichand, Chief Executive Officer at Leet Capital. Leet Capital is an innovative and premier equity crowdfunding platform. Since being awarded its license by the Securities Commission Malaysia in May 2019, the firm has been enabling investors to invest in highly vetted, high-growth businesses whilst providing an avenue for high-growth businesses to raise capital. Malaysia HealthTech startup BookDoc partners with Childhope Philippines Foundation for CSR collaboration"}, {"url": "https://technode.global/2023/04/05/funding-societies-partners-food-market-hub-supply-bunny-to-launch-financing-program-for-fb-industry-in-malaysia/", "page": 36, "title": "Funding Societies partners Food Market Hub, Supply Bunny to launch financing program for F&B in Malaysia", "contents": "Funding SocietiesThe three parties said in a statement on Wednesday that the program is the first of its kind in the F&B industry, for restaurants and F&B outlet operators in Malaysia. Powered by Funding Societies, the embedded financing in this tripartite partnership allows for seamless integration into Food Market Hub and Supply Bunny\u2019s solutions. This enables the 3,000 F&B operators on Food Market Hub\u2019s platform to receive their inventory orders from the 800 suppliers on Supply Bunny\u2019s platform seamlessly. The embedded financing works by giving the F&B operators the option to defer payment up to 30 days from the date of delivery; simultaneously, the suppliers receive payment upon delivery. With cash flow management being essential for SMEs including those in the F&B segment, the initiative will therefore allow restaurant operators to better manage their cash flow and working capital as they focus on sustaining or growing their businesses. Chai Kien Poon, Country Head of Funding Societies Malaysia, said access to capital remains key to SMEs in the F&B sector as they seek to meet the increased customers\u2019 demand post-pandemic and to help them scale their operations. \u201cHence, getting easy and direct access to financing is critical,\u201cBy partnering with Food Market Hub and Supply Bunny, Funding Societies will be able to serve and scale creditworthy, underserved SMEs in the F&B industry,\u201d he said. Meanwhile, according to Food Market Hub Chief Executive Officer Anthony See, Malaysia\u2019s F&B industry is projected to contribute MYR35.2 billion ($8.01 billion) to the country\u2019s gross domestic product. Amidst that, an estimated 22 percent growth was recorded for 2022 and a further 8 percent expansion this year, he said. \u201cDespite this year\u2019s optimistic outlook, we need to prepare ourselves for a possible recessionary economy, \u201cIn such a situation, the cash flow that SMEs save would allow them breathing room, so that they can reinvest into marketing or improving their customer experience. We want to help restaurant operators succeed in the competitive F&B industry\u201d he added. According to the statement, successful restaurant and F&B outlet operators are eligible for a collateral-free, financing facility of up to MYR50,000 ($11372) under the business to business (B2B) financing program, with end-to-end application processes taking approximately two weeks. \u201cWe ran a successful pilot over the last few months involving cold-chain and fresh suppliers, and we are now ready to roll out the program on a larger scale,\u201d said Tham Keng Yew, Chief Executive Officer of Supply Bunny. \u201cWe are excited about the impact that this initiative can have on the food service vertical in Malaysia \u2013 specifically improving cash flow efficiency facilitates just-in-time supply and reduces the stress on the supply chain, \u201cThe benefits, in turn, would contribute towards Malaysia\u2019s short- and medium-term policy on food security,\u201d he added. The launch of the B2B financing program is a major milestone for Food Market Hub and Supply Bunny as this marks their first partnership with a leading digital financing platform and is part of their mutually aligned commitment to supporting the growth and development of Malaysian SMEs, specifically the F&B industry. In Malaysia, Funding Societies has successfully disbursed more than MYR2 billion ($450 million) in financing, directly supporting thousands of SMEs. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. In eight years, the firm has helped finance over 5.1 million business deals close to MYR13.43 billion ($3.05 billion) in funding. Founded in 2017, Food Market Hub is a procurement and inventory management platform for the F&B industry. The firm operates in six countries across the Asia Pacific region with nearly $1 billion in total order value. Supply Bunny is a purchasing aggregator, allowing small to medium sized food service operators to access the best tier of pricing available. Founded since 2016, more than 300+ operators are using Supply Bunny today for key purchases. Funding Societies crosses $27.8M in loan disbursements to SMEs in Thailand"}, {"url": "https://technode.global/2023/04/04/malaysias-proton-plans-for-comprehensive-new-energy-vehicle-solutions/", "page": 36, "title": "Malaysia\u2019s Proton plans for comprehensive new energy vehicle solutions", "contents": "Malaysian national car maker Proton said in a statement the company\u2019s move into the NEV segment continued to gain momentum following the visit. The visit to Ningbo comes a day after the Malaysia \u2013 China Business Forum was held in Beijing for business leaders from both nations and was attended by Malaysian Prime Minister Anwar Ibrahim. The event saw the signing of a heads of agreement (HOA) document between DRB-Hicom and Geely that sealed their commitment to jointly invest, manage, and develop the Automotive High Tech Valley (AHTV) in Tanjung Malim, Malaysia into a smart city and hub for Next Generation Vehicles (NxGV). Over the next ten years, AHTV is expected to attract investments worth an estimated MYR32 billion ($7.26 billion). Founded in 2021, Zeekr is a premium electric automobile brand owned by Geely Automobile Holdings that specializes in electric cars and operates on a user-oriented enterprise philosophy, in line with being a smart mobility technology company. The Zeekr Intelligent Factory maximizes the application of IR4.0 and 5G connectivity and epitomises the highest level of manufacturing efficiency. While traditional internal combustion engine (ICE) powered cars remain the mainstay of Proton\u2019s model range in the next few years, Proton has also established its NEV strategy for the near future. Concurrently, through the collaboration with Geely, Proton continues to explore opportunities to accelerate NEV programs in line with the government\u2019s aspirations toward enhancing NEV traction, especially toward offering affordable and practical NEV models, as well as pursuing local manufacturing and ecosystem development of NEV in Malaysia. The first step to be taken will be the launch of the Proton X90, the latest addition to the brand\u2019s range of sport utility vehicles (SUVs) powered by a mild-hybrid version of its 1.5 TGDI engine. This will be followed by the Malaysian market introduction of the smart #1 by PRO-NET in the fourth quarter of 2023. After the visit by the MITI minister, there are now plans to expand the range of offerings and include vehicle segments new to Proton. \u201cI am pleased to highlight after five years into their partnership, Proton and Geely have made great strides in bringing new products, technology, and investment to Malaysia,\u201d said Syed Faisal Albar, Chairman of Proton. Following the signing of the HOA in Beijing on April 1, he said it is now clear AHTV has great potential to attract MYR32 billion ($7.26 billion) of investment and the visit to Ningbo demonstrated the Proton and Geely partnership wil continue to prosper with the future implementation of NEV programs. He acknowledged the importance of Malaysia becoming the regional hub for NxGV products hence Proton as the national brand will play an active role in contributing significantly towards achieving the nation\u2019s goals. \u201cTo be competitive, Proton and the automotive ecosystem must invest in research and development (R&D), as well as advanced manufacturing processes, \u201cWith progressive development of AHTV and constant engagement among stakeholders especially the Government of Malaysia, DRB-Hicom, Geely Group, Proton and automotive ecosystem, these goals are within reach,\u201d he added. Since 2018 with support from DRB-Hicom and Geely, Proton has invested more than MYR3.3 billion ($750 million) as part of its performance turnaround initiatives, which covers product development, new technology integration, manufacturing expansion and human capital development especially in new and emerging technologies. With the development of AHTV, more investments are planned to focus on new products and technologies, including new energy solutions and intelligent technologies. The pursuance of transformation initiatives is particularly important for the company hence synergy with Geely in technology development is vital towards achieving the strategic goals. As of today, steps have already been taken towards achieving Proton\u2019s long-term goals. A permanent office has been established at the Geely Automobile Research Institute (GRI) in Hangzhou Bay to facilitate all development activities between the engineering teams. The company has already assigned 18 engineers based to be based there on the first phase of R&D and NEV development programs and more will be assigned soon, a move that will help accelerate the transfer of technology. \u201cProton is now in the second half of its ten-year business plan. Besides the hiccups caused by two years of pandemic control measures, we are pleased with the progress made so far,\u201d said Li Chunrong, Chief Executive Officer of Proton. Over the next five years, he said the firm aims to work even more closely with Geely and expand its offerings as the market for NEVs grows. This in turn will help develop the national automotive ecosystem and push Malaysia towards its target of being an NxGV hub, he added. \u201cWe will also expand our focus to include other aspects that support the industry, \u201cFor example, charging infrastructure development is a priority for NEVs so we will optimize synergy with Geely group of companies to enhance the NEV infrastructure for Proton and the ecosystem in Malaysia,\u201d he said. Malaysia government in talks with Proton, Perodua to expedite production of national EVs \u2013 report"}, {"url": "https://technode.global/2023/04/04/kairous-capital-to-establish-malaysia-china-digital-cooperation-council-226m-fund-to-invest-in-tech-sectors-in-china-malaysia/", "page": 36, "title": "Kairous Capital to establish Malaysia-China Digital Cooperation Council & development fund to invest in tech sector in both countries", "contents": "Malaysia-headquartered venture capital firm \u201cMCDCC\u2019s key objective is to facilitate long-term cross-border collaboration between Malaysian and Chinese companies in the areas of technology and innovation,\u201d Kairous Capital said in a Linkedin post on Monday. In conjunction with this, MCDCC also announced the establishment of the Malaysia-China Digital Cooperation & Development Fund to invest up to MYR1 billion ($226.28 million) in digital technology sectors, including digital applications, industrial big data, advanced manufacturing technology, industrial technology, and other sectors in Malaysia and China. Kairous Capital was represented by its Managing Partner Joseph Lee at the signing ceremony on Saturday (Apr 1). The signing ceremony was witnessed by Malaysia Prime Minister Anwar Ibrahim, International Trade and Industry Minister Tengku Zafrul Aziz; Science, Technology and Innovation Minister Chang Lih Kang, Foreign Minister Affairs Zambry Abdul Kadir, Transport Minister Anthony Loke, Local Government Development Minister Nga Kor Ming, and Tourism, Arts and Culture Minister Tiong King Sing. Kairous Capital is set up by a team of investment professionals who collectively have more than 30 years of investment experience within the venture capital and private equity space across Greater China and the ASEAN region. The firm invests with a cross-border strategy in mind and act as a financial investor as well as the cross-border partner for its investees. Kairous Capital\u2019s main investment thesis is to invest in Chinese tech companies and exporting their technology and expertise from China to Southeast Asia. The firm also invests in Southeast Asian tech companies by referencing to proven business models and strategies of tech unicorns in China. Kairous Capital is an investor in TechNode Global. Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says"}, {"url": "https://technode.global/2023/04/03/ericsson-to-collaborate-with-intel-on-advancing-usage-and-adoption-of-5g-in-malaysia/", "page": 36, "title": "Ericsson to collaborate with Intel on advancing usage and adoption of 5G in Malaysia", "contents": "Swedish telecommunications company Ericsson said in a statement on Monday that the firm and Intel will collaborate on their respective technology expertise to show how communications service providers (CSPs) can accelerate 5G adoption and expand their business-to-business (B2B) engagements based on 5G use-cases. Amongst the areas identified for collaboration are the joint development of enterprise use cases in selected verticals such as manufacturing, transport and logistics. In addition, it involves working on the benefits of digitalization for emerging economies and the role 5G connectivity can play in building sustainable and resilient digital economies. \u201c5G is a platform for innovation and will transform the way enterprises operate,\u201cEricsson\u2019s collaboration with Intel in Malaysia will contribute to the adoption of 5G and development of the local ecosystem that will in turn drive Malaysia\u2019s digital transformation,\u201d said Head of Ericsson Malaysia, Sri Lanka and Bangladesh David H\u00e4gerbro. According to H\u00e4gerbro, this collaboration will also ensure Malaysia has a distinct advantage compared to other markets in the region when it comes to foreign investment. \u201cWith the increasing digitalization of our society and economy, 5G is becoming a fundamental component to drive innovation across all business segments, \u201cThis collaboration demonstrates how the Malaysian 5G infrastructure with innovative edge services \u2013 powered by Ericsson and Intel technologies \u2013 enables local enterprises to transform and accelerate their businesses through digital solutions,\u201d said Intel Malaysia  Managing Director AK Chong. Ericsson is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company\u2019s portfolio spans the following business areas: networks, cloud software and services, enterprise wireless solutions, global communications platform, and technologies and new businesses. It is designed to help its customers go digital, increase efficiency and find new revenue streams. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. Gaw Capital Partners partners A3 Capital to launch Infinaxis Data Center in Malaysia"}, {"url": "https://technode.global/2023/04/03/malaysia-secures-38-4b-worth-of-investment-commitments-from-china-pm-anwar-says/", "page": 36, "title": "Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says", "contents": "Malaysia has secured a record MYR170 billion ($38.4 billon) worth of investment commitments from China, according to Prime Minister Anwar Ibrahim. The amount, the biggest so far from China, is from a total of 19 memoranda of understanding (MOU) sealed between businesses in China and Malaysia, national news agency \u201cWe have achieved the commitment of MYR170 billion in investments from China. I must thank the investors for giving their cooperation and for giving us confidence. This is historic. It is good for Malaysia and the future,\u201d he said when announcing the news at the Malaysia-China Business Forum 2023, which was attended by some 1,000 business leaders from both countries in Beijing on Saturday. The prime minister was on the last of his three-day visit in China to deepen strategic bilateral political and trade relationship with China. Earlier, in his keynote address at the forum, Anwar has urged Chinese investors and business leaders to leverage the strong bilateral ties and seize the vast opportunities being offered by the current government to invest in Malaysia. \u201cI assure you that under my watch, we will ensure that the ease of doing business and undertaking investments in Malaysia will be at optimal level. So, build more partnerships with Malaysian companies, particularly in strategic sectors to advance deeper interlinkages,\u201d he was quoted as saying. China remains Malaysia\u2019s largest trading partner for 14 consecutive years, with total trade of $110.6 billion in 2022. On the investment front, China was the biggest foreign direct investor in Malaysia last year, with investments amounting to $12.5 billion. According to statistics from Malaysia\u2019s Foreign Affairs Ministry, total exports to China increased 9.4 percent to MYR210.62 billion ($47.84 billion) in 2022, while total imports from China stood at MYR276.50 billion ($62.78 billion) in the same year, or an increase of 20.7 percent compared to the previous year. Anwar, who is also the finance minister, said Malaysia\u2019s position as the preferred investment destination has been solidified further with the presence of renowned Chinese companies such as Risen Energy, Huawei, Longi Solar, Bytedance, Jinko Solar, EVE Energy, Alliance Steel, Alibaba Group, Geely Auto Group, Xiamen University and many others. \u201cIt is my hope that these companies, which have invested in strategic areas, will continue to expand their presence and work with local partners, as well as the government to build new capabilities, develop key industries, and create high-paying jobs for Malaysians,\u201d said the prime minister. He said Malaysia will continue to work with China to deepen existing cooperation in the Belt and Road Initiative (BRI), and to expand economic cooperation in new growth areas, such as green development and digital economy. Anwar also said Malaysia will work closely with other Asean member states to ensure that the Asean-China Free Trade Area (ACFTA) benefits all parties involved. He said the timely upgrade of the ACFTA will not only deepen trade and investment within the region but also broaden economic benefits with the inclusion of new sectors, namely digital economy, green economy, competition and consumer protection, as well as micro, small and medium enterprises. \u201cAt the same time, the Straits of Malacca will be kept free and safe for economic and trade flows and international stability. It is our moral and historical duty to keep it that way,\u201d he added. The prime minister has also witnessed the exchange of 19 MOUs between the companies involved. Among notable MOUs were the heads of agreement between Other MOUs sealed were between Digital Way Group Sdn Bhd, China Silk Road Group Ltd and China Kairous Capital to jointly establish a Malaysia-China digital and development fund in China and Malaysia, as well as one on a proposed development of a waste-to-energy plant in Malaysia. Malaysia\u2019s DRB-Hicom partners China\u2019s Geely to develop Automotive High-Tech Valley in Malaysia"}, {"url": "https://technode.global/2023/04/03/malaysias-drb-hicom-partners-chinas-geely-to-develop-automotive-high-tech-valley-in-malaysia/", "page": 36, "title": "Malaysia\u2019s DRB-Hicom partners China\u2019s Geely to develop Automotive High-Tech Valley in Malaysia", "contents": "Malaysian automotive manufacturer and distributor DRB-Hicom said in a statement on last Saturday that AHTV will be Malaysia\u2019s next generation vehicle hub in Tanjong Malim covering extensive automotive and mobility solutions value chain, from a fully-fledged high technology global research and development centre to a manufacturing cluster and supporting services and associated ecosystem. The focus of the HOA is the development of an integrated automotive city that will give birth to a hub for a new energy vehicle (NEV) industry. AHTV will occupy an area of approximately 1,000 acres and will be expanded accordingly to cater for future needs. Over the next ten years, AHTV is expected to attract some MYR32 billion ($7.24 billion) worth of investments, including by national car company Proton. AHTV will also receive direct and indirect benefits from Proton\u2019s plan to fully relocate its manufacturing facilities to Tanjong Malim by 2026. Proton currently produces five models in AHTV and another two models in Shah Alam, Selangor, Malaysia. AHTV will also include a research-based university to nurture new talents and development in areas of new and emerging technologies for the industry and the automotive sector in general. It will also house a research and development (R&D) center that will provide carmakers with a tropicalized setting to test their vehicles. With the global trend shifting towards NEV, Geely\u2019s role in the development of AHTV is apt, given the Chinese carmaker\u2019s wide experience in sector. Geely\u2019s flagship brand, Geely Auto, has launched several NEVs, including the intelligent luxury EV brand Zeekr. The company has also invested in a range of battery technologies and has a dedicated new energy division which is focused on developing and producing NEVs, and has announced plans to launch more than 30 new energy models across its brands by 2025. DRB-HICOM is one of Malaysia\u2019s leading conglomerates with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. The company has 82 active companies and more than 46,000 employees group-wide. In the automotive sector, the firm is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. In aerospace and defence, the firm  is involved through its subsidiaries CTRM and DEFTECH, while it is represented in the postal segment through its subsidiaries Pos Malaysia, and banking through Bank Muamalat. In the services segment, DRB-Hicom is involved in various businesses, including concession, education, aviation and logistics and investment holdings whereas in property, it is involved in the development of industrial properties. Malaysia\u2019s Computer Forms partners with Thailand\u2019s Energy Absolute for electric vehicles venture"}, {"url": "https://technode.global/2023/04/03/malaysias-mn-holdings-partners-chinas-dc-science-to-set-up-high-performance-data-center-in-malaysia/", "page": 36, "title": "Malaysia\u2019s MN Holdings partners China\u2019s DC-Science to set up high performance data center in Malaysia", "contents": "Malaysian underground utilities and substation engineering specialist MN Holdings said in a statement on Monday that the project, has an overall estimated value of over $600 million. MN Holdings\u2019 wholly-owned subsidiary Mutu Nusantara Sdn Bhd and DC-Science inked a memorandum of understanding (MOU) for the data center on April 1, 2023. The data center project is part of a series of foreign direct investments secured for Malaysia in conjunction with Prime Minister Datuk Seri Anwar Ibrahim\u2019s maiden visit to China on March 30 to April 2, 2023.  Spanning across a 20-acre site at the Sedenak Tech Park, Johor, the high performance data center is a significant milestone for Malaysia. It is DC-Science\u2019s first location outside China, having set up more than 300 data centers across the home country. Under the current planning, utilities for the project comprises a power load of 120MW with dual power supply to support the 12,000-rack facility. Daily average water supply is expected to be about 5,000 metric tonnes (MT), while the network access infrastructure shall be made available.  Phase 1 of the project is slated to begin development this year, and to commence operations in the first half of 2024.  Loy Siong Hay, managing director of MN Holdings, said the company is proud to represent Malaysia as DC-Science\u2019s chosen partner, to ensure a successful roll-out of the data center service provider\u2019s maiden project.  He said the partnership is a testament to MN Holdings\u2019 core expertise in the underground utilities construction, as well as substation engineering solutions, which spans the installation of electricity transmission cables, sewerage and drainage pipelines, as well as construction and commission of the plantIt also marks further diversification of MN Holdings\u2019 customer base, following its success in harnessing greater participation in large scale solar (LSS) projects and other works related to data centers and the semiconductor industry here, he added. \u201cWe are proud to take part in DC-Science\u2019s expansion into Malaysia. This development  reaffirms Malaysia\u2019s position as an investment destination, and will be a boost for local talents supporting the booming data center industry,\u201d he said. He also believes that with the collaboration with DC-Science, the firm will be able to further strengthen its technical know-how on construction and engineering of a data center.  \u201cAs Malaysia sees more investments from both the local and international fronts, we are ready to offer our expertise in underground utilities infrastructure development and engineering,\u201d he added. This latest partnership with DC-Science will also provide a boost to MN Holdings\u2019s future order book, which stood at MYR 325.9 million ($73.69m) as at January 20, 2023. MN Holdings said the firm will continue to explore opportunities among local and international clients here, leveraging on its core expertise in underground utilities and substation engineering to support the nation\u2019s growth in digitalization telecommunication. Details on the scope of work will be finalised upon the signing of the supplementary agreement between DC-Science and MN Holdings. MN Holdings is principally involved in the provision of infrastructure utilities services comprising underground utilities engineering services and solutions substation engineering services and solutions. The company mainly serves customers in the power, gas, sewerage and telecommunications industries in Malaysia. Its customers are primarily main contractors for utility projects, property developers and industries that require its services to enable the supply of power premises. GDS, TNB sign supplemental agreement for powering data center campus in Malaysia"}, {"url": "https://technode.global/2023/03/31/malaysia-singapore-announces-cross-border-qr-code-payment-linkage/", "page": 36, "title": "Malaysia, Singapore announces cross-border QR code payment linkage", "contents": "Bank Negara Malaysia (BNM)\u201cIt will support in-person payments through the scanning of physical QR codes displayed by merchants, and online cross-border e-commerce transactions,\u201d the central bank added. The DuitNow-NETS QR code payment linkage is a key milestone in the on-going collaboration between Malaysia and Singapore to enhance cross-border payments connectivity. With pre-pandemic annual traffic between the two countries averaging 12 million visitors, the payment linkage will provide merchants and consumers with a more seamless and efficient means to make and receive payments. This initiative is testament to both countries\u2019 commitment to improve the cost, speed, access and transparency of cross-border payments, in line with the ASEAN Payment Connectivity Initiative and the G20 Roadmap for Enhancing Cross-border Payments, the central bank said. According to BNM, this cross-border QR code payment linkage is made possible through the strong collaboration of various industry players from both countries, including Payments Network Malaysia Sdn. Bhd. (PayNet), Network for Electronic Transfers (Singapore) Pte. Ltd (NETS), the Association of Banks in Singapore, and participating financial institutions from both countries. In the next phase, BNM and MAS plan to expand the payment linkage to enable cross-border account-to-account fund transfers and remittances. This will allow users to make real-time fund transfers between Malaysia and Singapore conveniently using just the recipient\u2019s mobile phone number via DuitNow and PayNow. This service is expected to go live by end-2023. Bank Negara Malaysia Governor Nor Shamsiah Mohd Yunus said, \u201cThis is a significant step forward in realizing the vision of an ASEAN network of fast, efficient and interconnected retail payment systems. The QR linkage between Malaysia and Singapore will benefit millions of commuters across the Causeway as well as business and leisure travelers. It will also be a boost to retail businesses in both countries. We will continue to work closely with our partners to accelerate our digitalization agenda towards increased regional economic and financial integration. \u201dManaging Director of the Monetary Authority of Singapore, Ravi Menon, said, \u201cThe DuitNow-NETS QR code payment linkage is the latest addition to Singapore\u2019s growing set of cross-border payment linkages. These linkages will help boost cross-border commerce and enable our merchants, especially small businesses to tap on a wider pool of consumers. This QR code linkage between Singapore and Malaysia is an important milestone in ASEAN\u2019s journey towards seamless regional payments connectivity. \u201dMalaysia, Indonesia central banks launch cross border QR payment linkage"}, {"url": "https://technode.global/2023/03/29/gobi-partners-onboards-care-concierge-to-the-khazanah-backed-gobi-dana-impak-ventures-fund/", "page": 36, "title": "Gobi Partners onboards Care Concierge to the Khazanah-backed Gobi Dana Impak Ventures fund", "contents": "Gobi PartnersGDIV is a part of the Future Malaysia Program, an initiative announced on 16 March 2023 under Malaysian sovereign wealth fund, Khazanah Nasional Berhad (Khazanah)\u2019s Dana Impak mandate that aims to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital, and corporate venture programs, through collaborations with domestic and international partners such as Gobi Partners, Gobi Partners said in a statement. Dana Impak is a $1.3 billion allocation over five years and a key pillar under Khazanah\u2019s Advancing Malaysia strategy which seeks to invest across six themes based on issues and challenges facing the nation that include digital society and technology, quality health and education for all, decent work and social mobility, food and energy security, building climate resilience and competing in global markets. The investment into Care Concierge fits the fundamental objective of Dana Impak, which is to invest in catalytic sectors to increase Malaysia\u2019s economic competitiveness and build national resilience. Care Concierge meanwhile, helps families navigate the complexities of finding the right senior care solution for their loved ones across its various services of home care, residence care, day care and shop care. Founded by Chief Executive Officer Martin Yap and Chief Operations Officer Justin Yap in 2017, Care Concierge\u2019s inception was inspired by Martin\u2019s family\u2019s struggle in finding assistance for the care of his grandmother who succumbed to a stroke. This led to the realization of what Malaysia needs especially with its ageing population on the rise, and the younger generation that is career-centric. Driven by technology, design thinking, and innovation, Care Concierge is also one of six winners of the Khazanah Impact and Innovation Challenge 2021 with the prize being a grantCare Concierge fits Dana Impak\u2019s three themes, the first being quality health and education as it provides skills training and career opportunities for healthcare workers under its very own Care Concierge Academy. To date, Care Concierge has over 2,000 professional caregivers, nurses, occupational therapists and physiotherapists registered on its platform. The second theme is decent work and social mobility, by matching its customers to professional caregivers, the company allows the provision of gig employment to individuals and subsequently supports the gig economy of Malaysia. The final theme is digital society and technology hub. Care Concierge\u2019s core business solutions are managed by an in-house developed web and mobile application. This digital approach provides the convenience of selecting the type of service a customer requires which is then matched to the experience and expertise of its caregivers. The Care Concierge App is intended to deepen the human connection and experience between its clients and caregivers. Gobi Partners Cofounder and Chairperson Thomas Tsao said Gobi has a strong belief in Malaysia\u2019s entrepreneurial potential and world-class talent. \u201cAs a firm headquartered in Kuala Lumpur, our early investments in more than 30 Malaysian startups have yielded success, \u201cWe have thoroughly evaluated Care Concierge and are confident in their growth prospects for the Silver Economy,\u201d he said. Care Concierge Founder and Chief Executive Officer Martin Yap said the funding from Gobi, under the auspices of Khazanah, is indeed timely as it augurs well with the ageing population challenges that the country is currently facing. \u201cWe are committed to using this funding to create innovative and digital solutions that will revolutionize senior living care, including the Caregivers profession and make an impact in the lives of our ageing population,\u201d he said. Cited a report by the United Nations, Gobi Partners said that Malaysia is expected to become an ageing society by 2030, with more than 15 percent of the population aged 60 years and above. One of the key challenges associated with ageing is the provision of healthcare services to the elderly as they are more susceptible to chronic diseases and disabilities, which require specialized medical care. Gobi Partners is a venture capital firm with $1.5 billion in assets under management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 15 funds to date, invested in over 350 startups and nurtured 10 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Beijing, Cairo, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. Gobi Partners and MAVCAP works with Paywatch to address  demand for earned wage access"}, {"url": "https://technode.global/2023/03/27/advisonomics-partners-kakitangan-to-provide-financial-planning-app-in-malaysia/", "page": 37, "title": "Advisonomics partners Kakitangan.com to provide financial planning app in Malaysia", "contents": "Malaysia-based financial planning firm Advisonomics has joined hands with cloud payroll and human resource software provider The two parties said in a statement that they have integrated their respective platforms to provide Kakitangan. com users an access to the financial planning app. According to the statement, this memorandum of understanding (MoU) was born out of the two companies\u2019 mutual concerns that Malaysians do not have sufficient accessible savings and wealth building solutions, specifically in matters of retirement savings. By making the CashKu app more accessible, they hope to encourage and help more small and medium-sized enterprise (SME) employees prepare their nest eggs for retirement and increase Malaysians\u2019 access to financial advisory services. \u201cIn the past two years, reflective of global as well as domestic economic environments, not to mention the disruption brought about by the COVID-19 pandemic, the need for stable and more accessible retirement savings facilities has been augmented,\u201d said Advisonomics Co-Founder Raevendren Ramachandran. \u201cAside from employee provident fund (EPF), the average person generally lacks access to financial advisory services and investment opportunities that will help increase their retirement savings, \u201cAdditionally, financial planning and investment programmes often require significant financial outlays,\u201d he added. CashKu, designed and managed by Advisonomics, is a digital financial planning app that is targeted to create awareness around savings, retirement planning and financial literacy. With the aim to democratize access to financial planning and wealth management, the app is highly user friendly, even to those new to this game. The first app of its kind in Malaysia, CashKu is an ideal platform to launch an investment initiative, enabling users to save and invest with outlays as low as MYR10 ($2.26) with advisor support included. Two primary components of this app are the CashKu Save program which offers higher returns than conventional savings as well as better liquidity options; and CashKu invest through which everyone can access all risk portfolios with zero sales charge. \u201cThis tie up with CashKu is aimed at helping all Malaysians better prepare for their financial futures,\u201cOver 60,000 employees from some 12,000 companies that Kakitangan. com works with will have access to the benefits of CashKu,\u201d said Kakitangan. com Founder and Chief Executive Officer Effon Khoo. \u201cIt is also very much in line with Kakitangan. com\u2019s philosopy and objective to help people live better lives,\u201d he added. Advisonomics is a registered financial planning firm established in 2019, backed by highly experienced and trained financial advisors. Holding both HRDF and financial planning licences, the firm aims to democratise and create financial literacy among Malaysians using a powerful mix of technology and human collaboration, with the message that everyone can create investments towards securing their financial future. Kakitangan. com is Malaysia\u2019s leading cloud payroll and human resource software provider. The platform offers a simple, elegant way to streamline and manage HR administrative processes and policies, especially for small and medium businesses. The platform processes payroll of over MYR4 billion ($900 million), supported by 16 banks and PDPA audited by BDO. With cloud data storage on AWS, it is easily accessible anywhere and anytime. The platform also recently introduced a free mobile app to further facilitate ease of use by employees and employers alike. Malaysia\u2019s Revenue Monster clinches $6.6M funding from SEA Capital"}, {"url": "https://technode.global/2023/03/23/malaysias-blueshark-launches-initiative-to-accelerate-the-adoption-and-development-of-electric-motorcycles/", "page": 37, "title": "Malaysia\u2019s Blueshark launches initiative to accelerate electric motorcycles adoption and development", "contents": "Malaysia-based electric vehicle (EV) tech mobility company The new program was launched at an open day hosted by Malaysian Green Technology and Climate Change Corporation (MGTC). MGTC said in a statement that Malaysia has approximately 7.8 million active motorcycles, making it the most popular and affordable motorised transport. However, it said each petrol motorcycle releases 60 gCO2eq/km compared to an electric bike emitting about 27 gCO2eq/km. Adopting the latter will reduce the country\u2019s carbon emissions and complement LCMB\u2019s aim to achieve the target of 15 percent electric motorcycles on the road by 2030, it said. To eliminate the primary concerns among motorcyclists on EVs, which are the cost and waiting time for charging, Blueshark has introduced its battery leasing and swapping initiatives.  \u201cAt Blueshark, we firmly believe battery-swapping technology is crucial for adopting EV motorcycles in Malaysia,\u201cThe shift to EVs needs to happen sooner rather than later to overcome the dangers posed by carbon emissions from the transportation sector,\u201d said Jeff Chong, Chief Executive Officer of Blueshark Ecosystem Sdn Bhd. He said that Blueshark will support and accelerate Malaysia towards its net zero emissions target through our end-to-end product, software and renewable energy infrastructure ecosystem.  \u201cWe are proud to support Malaysian Green Technology and Climate Change Corporation (MGTC)\u2019s mandate to improve the carbon situation in Malaysia in support of its government stakeholders towards an electrified future,\u201cThe MyEVE programme will place the most advanced EV technology, features and aesthetics within reach of people from all walks of life to elevate people and enable electric mobility for all while saving the planet,\u201d he added. MGTC Chief Executive Officer Ts Shamsul Bahar Mohd Nor said that decarbonising land transportation requires support from various stakeholders. He said that MGTC will continue to play an active role in supporting and driving this green agenda through effective collaboration. \u201cWe strongly encourage all sectors to spread awareness and initiate EV adoption by introducing electric motorcycles in their fleet, \u201cI praise Blueshark\u2019s commendable effort in offering a special package for government servants through the MyEVE program,\u201d he said. To build low-carbon cities, he also said local authorities have been urged to set their direction and implement suitable approaches that help reduce the impact of climate change in the country. Utilising this programme can be an option worth exploring, he added. Blueshark is a EV tech mobility company pioneering electromobility and game-changing energy solutions worldwide. It powers smart mobility and swappable energy solutions by leading the charge on green mobility and green energy for all. As the Malaysian subsidiary of Sharkgulf Technologies Group, the firm driven by its technology leadership with over 130 invention patents filed, internet of vehicles, smart partnerships and innovations in renewable energy solutions. MGTC is an agency of the Ministry of Natural Resources, Environment and Climate Change (NRECC) in Malaysia mandated to drive the country in the scope of accelerating green growth, climate action empowerment, and cultivating green lifestyle. Malaysia government in talks with Proton, Perodua to expedite production of national EVs \u2013 report"}, {"url": "https://technode.global/2023/03/23/malaysia-to-launch-initiative-to-put-innovation-into-mainstream-of-economy-report/", "page": 37, "title": "Malaysia to launch initiative to put innovation into mainstream of digital economy \u2013 report", "contents": "An initiative to put innovation into the mainstream of the digital economy among the people will be launched soon, said Malaysia\u2019s Economy Minister Mohd Rafizi Ramli. Without disclosing details, he said on Wednesday the initiative had been carried out with the cooperation between his ministry and the Ministry of Science, Technology and Innovation since two months ago, national news agency \u201cWe have a good framework in terms of how [we want] to enhance the digital economy, but usually when we talk about frameworks or policies, a lot of focus is being given to financial issues, aid and so on. \u201cBut we also have a challenge that needs to be dealt with well, which is the level of innovation in the economy, as the digital economy needs a high level of innovation,\u201d he told reporters after attending a meeting with the ministry\u2019s staff on Wednesday. Earlier in his speech, Rafizi urged the ministry\u2019s staff to ensure that the Energy Transition Roadmap could be finalized within three months. \u201cOur team has a heavy task to ensure that the plan can be completed in three months. This not only involves environmental issues or zero emissions, as the major goal of the energy transition is to guarantee the continuity of energy supply,\u201d he said. Malaysia introduces initiatives to ensure local startups will have access to later stage financing"}, {"url": "https://technode.global/2023/03/22/capital-markets-malaysia-launches-corporate-venture-capital-program-to-advance-local-ecosystem/", "page": 37, "title": "Capital Markets Malaysia launches Corporate Venture Capital Program to advance local ecosystem", "contents": "Capital Markets Malaysia (CMM)Concurrently, this approach of spurring corporate interest and investments in start-ups or micro and small-to-medium enterprises (MSMEs) aims to build confidence in corporate venturing as a potential enabling or innovation strategy to catalyse growth, CMM said in a statement. According to the statement, CMM\u2019s collaboration with the Malaysian Digital Economy Corporation (MDEC) for the inaugural program reinforces the significance of technology and digitalization in spurring economic transformation and progress. This initiative will also see CMM working alongside relevant agencies and investment entities in Malaysia to bring together and connect verticals in a network that will improve access to capital, capacity building, as well as business leadership and development. \u201cThe capital market plays a critical role in strengthening and reinforcing our financial structures. As our nation builds back stronger, our Capital Market Masterplan 3 (CMP3) paves the way towards a more sustainable and equitable economy,\u201d said Dr. Awang Adek Hussin, Executive Chairman of SC, and Chairman of CMM. According to him, to facilitate wider population participation in the economy requires enabling infrastructures and networks, especially greater access to capital and funding avenues to facilitate capacity building for scale. He said the CVC program builds on the existing ecosystem to connect different ecosystem players across private and public markets, from entrepreneurs, start-ups to the mature,According to the statement, these developments will generate economic activities that create high-value jobs, business opportunities and talent development, elevating communities in ways that fortify the local economy against future global fallouts. In addition, the structures are also intended to transition Malaysia towards a greener economy, develop high tech industries, and at the same time, accelerate PLC growth by leveraging digitalization and innovation. \u201cOur goal for CVC is two-fold: firstly, to shape a more vibrant private marketplace by attracting corporate investments through the promotion, awareness and eventual familiarity with corporate venturing,\u201d said CMM\u2019s General Manager Navina Balasingam. Meanwhile, she noted the program\u2019s capacity building serves to empower PLCs in understanding when and how to leverage CV to fuel strategic growth. \u201cThere are many success stories of mutually beneficial outcomes where corporates are able to expand their product portfolios to capture new opportunities and scale their businesses, or monetise the investments for other strategic purposes,\u201d she added. According to the statement, the collaborative efforts with MDEC to strengthen the pathway for companies in the digital industries to gain better access to capital, will lay the foundation for a strong and robust pipeline of growth-focused businesses. It said that magnifying Malaysia\u2019s digital economy will grow local talent and industries much needed to support the new economy. It also said it is proven that companies or corporates that lean into digital transformation solutions have not only remained resilient but are able to insulate themselves against different challenges to capitalise post-crisis growth opportunities. \u201cMDEC\u2019s collaboration with CMM to roll out this multi-dimensional program is well aligned to the new strategic initiative of Malaysia Digital (MD),\u201d said Ts. Mahadhir Aziz, Chief Executive Officer of MDEC. \u201cNetworks, access, and connectivity, in every sense of the word, have and will continue to be the cornerstones of success for any business, \u201cWe applaud the CMM\u2019s efforts to catalyse entrepreneurship and the private investing ecosystem. This will have a large multiplier effect and complements MDEC\u2019s efforts to drive investments, build local tech champions, catalyse the innovation ecosystem, and propagate digital inclusivity,\u201d he added. According to Navina, CMM\u2019s goal for the CVC program is to promote awareness and familiarity with the corporate venturing strategy, the players and ecosystem. \u201cFamiliarity will build confidence in navigating what seems to be a complex and opaque space, \u201cThrough this concerted effort to elevate the ecosystem, we are confident that more companies, both public and private, will be able to benefit from the investment and innovation contributed by each party,\u201d she said. She also noted that over the next two years, the agency aims to collaborate with more strategic partners like MDEC to bring relevant and impactful workshops and networking roundtables to benefit the ecosystem and its players. The CVC program is a leadership development program featuring workshops to promote market development opportunities and capacity building. Each of these two-day workshops will be facilitated by industry leaders and features a high-impact line-up of local and international market players from the VC, PE, digital and technology space. Topics covered include, \u201cInnovation Readiness: 8 Innovation Key Drivers, Executing Corporate Venturing Strategy\u201d, and the Malaysian VC Landscape. Khazanah launches Future Malaysia Program to spur  the local start-up ecosystem"}, {"url": "https://technode.global/2023/03/21/malaysias-khazanah-anticipates-another-challenging-year-ahead/", "page": 37, "title": "Malaysia\u2019s Khazanah anticipates another challenging year ahead", "contents": "Malaysian sovereign fund Khazanah said in a statement that the fund will continue to remain vigilant in its investing activities with the aim of maintaining portfolio resilience through diversification. Despite the uncertainties, Khazanah said it remains optimistic in identifying investment opportunities within emerging global trends \u2013 structural changes to the multipolar global system and the growing challenges of climate change, energy transition and sustainability.  It said Khazanah remains firmly committed in its role as an active steward and shareholder of its portfolio companies in Malaysia as it seeks performance, value creation and long-term shareholder value.   Meanwhile, Khazanah said it will continue its quest to seed new growth areas and ecosystems via Dana Impak. In line with Malaysia\u2019s Budget 2023, Khazanah launched the Future Malaysia Program, an initiative under Dana Impak, to support the local ecosystem of entrepreneurs, start-ups, venture funds, and corporate venture initiatives, which is an essential source of innovation, employment and investment for the nation. The programme involves working with domestic and international partners to fund high-growth and innovative Malaysian companies with sustainable business models that delivers socioeconomic impact and benefits for our country. To this end, Khazanah believes that the availability of talent is crucial to the continuous development of any industry, especially the rapidly evolving digital industry which is facing increasing talent demand. Khazanah said it will invest, via its Future Malaysia Skills initiative, in upskilling and reskilling initiatives with the aim to generate a sustainable pipeline of talent, and in the process, provide Malaysians with in-demand skills for access to high quality jobs, leading to improved livelihood and spurring competitive industries that drive economic growth for the nation. \u201cKhazanah will continue to deliver on our mandate and remain committed to Advancing Malaysia, that is to drive Malaysia\u2019s success in the global arena and continue to focus on value creation initiatives while staying ahead of the curve in a rapidly changing market environment,\u201d Khazanah Managing Director Amirul Feisal Wan Zahir said. According to him, Dana Impak initiatives will remain focused to increase Malaysia\u2019s economic competitiveness and build national resilience via innovative partnerships and new growth areas. \u201cThis, along with our efforts in building on our financial strength, focus on sustainability and developing a winning team would complement our purpose for the country,\u201d he added. It is noted that on Dana Impak, MYR500 million ($111.71 million) worth of projects have been identified across various impact areas, aiming at building national resilience and new growth opportunities. Key areas include agrifoods and work force digital upskilling as well as a commitment to support entrepreneurs and venture capital (VC) ecosystem. Meanwhile, Khazanah announced that it recorded an improved profit in 2022 mainly contributed from monetization activities and lower impairment in the portfolio. The group\u2019s profit from operations rose to MYR1.6 billion ($360 million) in 2022 from MYR670 million ($150 million) in 2021. Its net asset value (NAV), however, saw a decline of 5 percent from MYR86 billion ($19 billion) in 2021 to MYR81 billion ($18.1 billion) in 2022 attributed by the global market downtrends. Khazanah said the firm is focused on building long-term financial return and continued its portfolio rebalancing towards the target strategic asset allocation with deployments into public equities, private equities and real assets. According to Khazanah, MYR6.6 billion ($1.5 billion) was deployed in new investments and MYR2.5 billion ($560 million) raised from monetisation of assets. Khazanah declared a dividend of MYR500 million ($112 million) for 2022 to the government of Malaysia, with cumulative dividends declared since 2004 amounting to MYR17.1 billion ($3.82 million). According to Khazanah, 2022 was a challenging year for Khazanah and the global markets, with rising inflationary pressure, aggressive monetary tightening and energy crisis due to the Russia-Ukraine conflict. \u201cDespite the challenging market conditions globally, we delivered a satisfactory performance in the first full year of implementing our refreshed strategy, \u201cOur nation building mandate of delivering long-term sustainable value remains unchanged and we will ride through the short-term market volatility and remain focused on our long-term goals,\u201d said Amirul Feisal. \u201cThere are ongoing concerns that the inflationary environment and tightening monetary conditions will lead to a global recession, exacerbated by continuing geopolitical risks, \u201cHowever, Khazanah\u2019s disciplined investment approach, as guided by our long-term Strategic Asset Allocation (SAA) and active portfolio management helped navigate the volatility in the markets as we maintained discipline in our value creation and monetization efforts,\u201d he added. Khazanah launches Future Malaysia Program to spur  the local start-up ecosystem"}, {"url": "https://technode.global/2023/03/17/petronas-plans-to-expand-corporate-venture-capital-arm-with-up-to-200m-report/", "page": 37, "title": "Petronas plans to expand corporate venture capital arm with up to $200M \u2013 report", "contents": "Malaysia\u2019s national oil company,Petronas will focus on making innovation and technology investments across Asia-Pacific, the sources reportedly said. The extra funding could change as the plan is still being finalized, one of the sources added. The oil company said in a response toMalaysia\u2019s government has been wanting to boost and support the local startup ecosystem with various initiatives and policies. On Thursday, Malaysia\u2019s sovereign fund Khazanah Nasional Berhad announced the launch of the Future Malaysia Program to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital, and corporate venture programs through collaborations with domestic and international partners. Chang Lih Kang, Minister of Science, Technology and Innovation of Malaysia, toldPetronas, the country\u2019s only Fortune Global 500 company, has been looking to diversify amid volatility in oil markets. The state oil company first set up a venture capital arm called Petronas Corporate Venture Capital in 2019, according to the report. The arm was later renamed Petronas Ventures and has invested in companies including Malaysian agriculture technology startup Braintree Technologies and US-based waste-to-energy company Ekamor, information from its website showed. Petronas Ventures\u2019 main goals include scouting for niche innovative technology to enhance the group\u2019s core operations and growth areas that could become its new sources of revenue, the company said on Friday. Petronas has also been expanding in renewable energy, with the launch of its clean energy unit called Gentari in June. In February it bought Australian renewables firm Wirsol Energy, which owns solar farms and battery energy storage. Khazanah launches Future Malaysia Program to spur  the local start-up ecosystem"}, {"url": "https://technode.global/2023/03/16/khazanah-launches-future-malaysia-program-to-spur-the-local-start-up-ecosystem/", "page": 37, "title": "Khazanah launches Future Malaysia Program to spur  the local start-up ecosystem", "contents": "Malaysia\u2019s sovereign fund Khazanah said in a statement that the initiative is under under its Dana Impak mandate, which is a MYR6 billion ($1.33 billion ) commitment over five years. According to the statement, Dana Impak is a key pillar under Khazanah\u2019s Advancing Malaysia strategy, seeking to invest across six themes based on issues and challenges facing the nation, that include digital society and technology, quality health and education for all, decent work and social mobility, food and energy security, building climate resilience and competing in global markets. The Future Malaysia Program initiative marks a milestone for Dana Impak in increasing Malaysia\u2019s economic competitiveness and in building national resilience, while delivering socioeconomic benefits and impact to Malaysians. In line with the Malaysia MADANI Budget 2023, Khazanah is committed to playing an integral role, along with other government-linked investment companies (GLICs), in funding high-growth start-ups in Malaysia to spur innovation and economic growth in the country. \u201cWe begin with the start-up ecosystem, which is an essential source of entrepreneurship, employment, innovation, and investment for the nation,\u201d said Khazanah\u2019s Managing Director Amirul Feisal Wan Zahir. Many potential solutions to the challenges we have identified under the Dana Impak themes are found in early-stage companies, which requires injection of risk capital at different stages of the venture, to scale innovation and business, he said. According to him, the program also aims to drive strategic corporate collaborations within Malaysia\u2019s venture capital ecosystem to foster sharing of ideas and enhance business value in a more holistic way. The Future Malaysia Program aims to deploy an initial amount of approximately MYR180 million ($39.96 million) by working with established local and international venture capital managers as well as corporate venture programs based in Malaysia. By addressing the Dana Impak themes of digital society and technology and competing in global markets, the Future Malaysia Program will augment Khazanah\u2019s efforts in discovering and nurturing early-stage entrepreneurs and start-ups, providing them with strategic support required to grow. In line with this effort, Khazanah is has also announced its partnership with venture capital funds \u2013 Gobi Partners, a pan-Asian venture capital manager, and 500 Global, an international venture capital manager. Both are among the most active venture capital managers with an extensive investing track record and expertise for value creation in Malaysia, said Khazanah. It also said their international footprint and network acts as a bridge to crowd-in regional venture funds to invest in Malaysian companies, and for Malaysian start-ups to expand internationally, with the anticipation of becoming regional\u201cWe are thrilled to support Khazanah in delivering its Dana Impak mandate for the country,\u201cAs a firm that is also headquartered in Kuala Lumpur and has invested in over 350 companies globally, we look forward to helping expand the Malaysian start-up ecosystem and create long-term societal value through our collaboration,\u201d said Thomas G. Tsao, Co-Founder of Gobi Partners. Khailee Ng, Managing Partner of 500 Global, said impact is part of the venture capital DNA. \u201cMany of the megatrends that 500 Global is investing in today \u2013 financial inclusion, digitalisation, access to healthcare and education, and sustainable cities, are aligned with Dana Impak\u2019s key themes,\u201cOur current global economic climate makes it very clear that our future needs rebuilding, and it is a privilege to partner with Khazanah to push innovation, serve the underserved, and uplift Malaysia\u2019s economy and communities,\u201d he added. On the corporate collaboration front, Khazanah came on board as a corporate partner for the Petronas FutureTech 3.0 technology accelerator program. The program is aligned with our purpose to foster collaboration between corporates and the tech-driven start-up ecosystem by unlocking synergies and enhancing business value which leverages on cross-industries expertise. In addition, Khazanah is also establishing a partnership with Plug and Play, a leading global innovation platform that connects start-ups, corporations, venture capital firms, universities, and government agencies. The focus of the partnership is to set up a Malaysia-based corporate innovation and accelerator program involving leading Malaysian corporates. CelcomDigi Berhad, a key associate of Axiata Group Berhad and one of Khazanah\u2019s portfolio companies, has also signed up as an anchor partner of the program and will be driving the initiative via CelcomDigi\u2019s Innovation Centre. \u201cThe partnership will open access to leading international and domestic enterprise-focused start- ups where Malaysian corporates are able to explore and match technology and ideas with their innovation needs, while lowering risks related to corporate ventures,\u201d said Amirul Feisal. Jupe Tan, Managing Partner of Plug and Play Asia Pacific (APAC), said the firm is delighted to have Malaysia be part of Plug and Play\u2019s global innovation ecosystem. \u201cPartnering with Khazanah is a great start to our journey in the country and we look forward to supporting Malaysian corporations in their innovation journey,\u201d he added. As part of the Future Malaysia Program, Khazanah will continue to identify venture capital managers and ecosystem players with proven track record, expertise, and complementary strategic value proposition as potential partners. Together with its partners, Khazanah said it aims to scale Malaysian ideas and businesses to be internationally competitive by deploying capital through its partners as well as directly into companies with sustainable business models that hopes to deliver socioeconomic impact and benefits to Malaysia. Malaysia\u2019s Khazanah launches sustainability framework & targets"}, {"url": "https://technode.global/2023/03/16/rhb-xcelerator-program-announces-11-finalists/", "page": 37, "title": "RHB  Xcelerator program announces 11 finalists", "contents": "The 1337 Ventures said in a statement on Thursday, the RHB Xcelerator program aimed at nurturing tech and startup ecosystems while driving digital adoption in the Malaysian financial scene. From sustainability and data intelligence to inheritance planning, it said the top finalists are solving some of the biggest problems and opportunities in the financial scene today. \u201cRHB is pleased to witness many innovative startups of high calibre at the pitch event. We are thrilled to be taking things to the next level, especially to future-proof these 11 shortlisted startups which have caught our attention and represent a niche and compelling segment in Malaysia,\u201cWe believe that there is enormous potential for future collaboration and joint success,\u201d said Ryan Teoh, Chief Group Strategy and Innovation Officer, RHB Banking Group. \u201cThe startups in RHB Xcelerator had an incredible opportunity to collaborate with RHB teams across a range of divisions, and we are excited to see the possible outcome that may result from these synergies,\u201d he added. Bikesh Lakhmichand, Chief Executive Officer and Founding Partner of 1337 Ventures, said this is the beginning of what the firm hopes will be a long and fruitful partnership between startups and corporations. \u201cWe believe that by fostering these interactions, we can create even better opportunities for innovation and growth in the startup ecosystem,\u201d he added. According to the statement, the 11 finalists are currently designing their proof of concept, assisted by RHB and 1337 Ventures. After completion, the chosen startups may have the chance to work with RHB to advance their proof of concept and at the same time, may receive prospective financial support1337 Ventures is an early-stage VC firm focused on pre-seed and seed-stage investments in Malaysia and South East Asia. Established in 2012, the firm is Malaysia\u2019s first accelerator program. Pioneering the Design Thinking Methodology and Design Sprints in Malaysia, 1337 Ventures has utilised its learning to accelerate the growth of over 1,000+ startups from five different countries. The firm has launched accelerators for multinational corporations (MNCs) and government linked companies (GLCs) such as FWD, NTIS, Bank Negara Malaysia, Khazanah Nasional, Telekom, Digi, MDEC, CIMB, RHB, and Maybank, to name a few. Its sister company, Leet Capital, is an equity crowdfunding (ECF) platform. Leet Academy, its education arm, focuses to empower, educate and build resilient individuals through a series of workshops, mentorships, and networking events in the areas of design thinking, pitching and agile ways of work. The 11 startups are:Agiliux Cloud InsuranceAlfie Tech AsiaDu-itMobyPayReconPewarisanProtos LabsSwipeyThe Woke CompanyTrinityEcoVircleGRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2023/03/15/maybank-introduces-financing-solution-for-electric-vehicle/", "page": 37, "title": "Malaysia\u2019s largest lender Maybank introduces financing solution for electric vehicle", "contents": "MaybankThe bank said in a statement on Tuesday the financing solution covers various aspects of owning an EV or hybrid vehicle including holistic financing solutions, insurance and takaful coverage as well as EV charging privileges. It said the move is in line with the group\u2019s aspiration to become the sustainability leader in the region by fulfilling its commitments of mobilising a recently revised target of MYR80 billion ($18 billion) in sustainable financing to customers by 2025 as well as achieving a carbon neutral position by 2030. Maybank Community Financial Services Group Chief Executive Oficer John Chong said that this offering is timely and showcases the group\u2019s strong commitment to sustainability and at the same time catering to the evolving needs of customers as they become increasingly more environmentally conscious. \u201cApart from that, our initiative is also in support of the government\u2019s vision of growing the EV market share to 38 percent by 2040 through the Low Carbon Nation Aspiration under the National Energy Policy 2022-2040,\u201d he said. Maybank Islamic meanwhile, will become the country\u2019s first financial provider to embark on the EV charging infrastructure landscape having installed EV charging stations at Dataran Maybank, the Kuala Lumpur Golf & Country Club and Mandarin Oriental Hotel in Kuala Lumpur respectively. In addition to this, Maybank Islamic is targeting to install several more EV charging stations within the Klang Valley and other states in peninsular Malaysia by December 2024 to help further strengthen the ecosystem and promote the usage of EV and hybrid cars. Maybank Islamic Chief Executive Officer Mohamed Rafique Merican said that this is part of the bank\u2019s efforts to encourage adoption of EVs while making more charging stations readily available for the convenience of EV owners. Furthermore, he said customers can enjoy various rewards and benefits from Maybank Islamic\u2019s EV financing membership programme, InCharge, which provides customers with rebates when utilising charging stations owned by Maybank Islamic and all other charging stations through the ParkEasy app. \u201cOur ultimate goal is to create a positive impact to the environment and society, and in line with the Group\u2019s mission to Humanise Financial Services, Maybank Islamic will allocate proceeds collected from the usage of the EV charging stations to fund identified social impact initiatives,\u201d he added. Maybank recently hosted an EV driving experience event with Auto Bavaria \u2013 its first collaboration with a financial institution, showcasing two new EV models namely the BMW iX40 Sport which is currently available in the market and the BMW i7 which will be made available to the public in the third quarter of 2023. The event also provided the public with an opportunity to gain more insights on Maybank\u2019s integrated financing solution, the car\u2019s features as well as experience demonstrations on charging an EV. On the insurance front, Etiqa had previously introduced Malaysia\u2019s first insurance and takaful coverage for EV Home Chargers in October last year. The coverage is available as a complimentary add-on to the Etiqa private car policy or certificate for newly registered battery-powered Electric Vehicles (BEV) or Plug-in Hybrid Electric Vehicles (PHEV). Alternatively, a standalone coverage for EV home chargers under the All Risk Insurance and Takaful plan is also available for EV owners who have purchased the EV home wall charger separately from their new motor insurance and takaful. Fitch Solutions sees passenger EV sales in Malaysia to expand rapidly in 2023"}, {"url": "https://technode.global/2023/03/15/ihh-healthcare-invests-in-digital-mental-health-company-intellect/", "page": 37, "title": "IHH Healthcare invests in digital mental health company Intellect", "contents": "IHH HealthcareIHH said in a statement the move is to further expand its continuum of care for patients, corporate clients and employees and catalyse a healthier society for all. The investment will accelerate Intellect\u2019s growth across the region. Since it was founded in 2019, Intellect has grown exponentially in recent years to serve more than 3 million users in over 20 countries on its platform, including Malaysia, Singapore, India and Hong Kong. Its end-to-end mental health services include telehealth coaching, clinical therapy, psychiatry, self-guided cognitive behavioural therapy-based programmes, urgent distress support, and mental health screening \u2013 all done either virtually via the Intellect platform or in-person at an Intellect clinic. It focuses primarily on enterprise companies and their employees, and also serves individual consumers. As a strategic investor, IHH will co-develop and customise digital mental health programmes with Intellect for its patients, corporate clients, and staff. In a pilot initiative, maternity patients from Gleneagles Hospital Singapore will be among the first from the IHH network to enjoy Intellect\u2019s offerings. There are also plans to extend Intellect\u2019s solution to corporate clients of IHH Singapore\u2019s iXchange and to IHH employees.           \u201cOur aspiration to care. For Good. at IHH has led us to this partnership with Intellect to provide mental health offerings to our patients, corporate clients, and employees, towards building a healthier world,\u201d said Ashok Pandit, Group Chief Strategy & Business Development Officer of IHH Healthcare. \u201cMental and physical health are equally important components of total well-being. Mental health issues affect one in every four persons, \u201cWe are pleased to invest in Intellect, a market leader in this rapidly growing category, to boost their growth and enhance access to millions more people who require support, care or treatment,\u201d he added. Theodoric Chew, Co-Founder and Chief Executive Officer of Intellect, said the firm is truly excited to be partnering with IHH to form what they believe will be a game changer alliance to effectively transform mental health care across Asia. \u201cOur mission to scale mental healthcare accessibly to everyone, everyday, will be significantly enabled through this partnership, combining IHH\u2019s global healthcare network with our technology and mental health focus,\u201d he said. The cost of treating mental issues is expected to reach around $6 trillion globally by 2030. Within the Asia Pacific, the digital mental health market for business-to-business alone is projected to grow from $3.1 billion in 2021 to $8.5 billion by 2026, with increasing demand from corporates, insurers and consumers. IHH\u2019s growing number of Innovation investments is in line with its aspiration to Care. For Good. By expanding its capabilities beyond acute care to holistic care and wellness, IHH aims to extend its continuum of services and build a thriving healthcare ecosystem that provides seamless, convenient care through various cutting-edge healthcare technology solutions, medtech services and telehealth platforms. IHH is the first strategic healthcare investor in Intellect, which also has the backing of established investors and venture funds. Intellect raised a $20 milion Series A funding round in 2022, led by Tiger Global, and counts many leading investors as backers including Y Combinator, Insignia Ventures, HOF Capital, MS&AD Ventures, Singtel Innov8, K3 Ventures, East Ventures, and many more. Singapore medtech firm Us2. ai raises $15M Series A funding led by IHH Healthcare and Heal Partners"}, {"url": "https://technode.global/2023/03/14/futurise-teams-up-with-caam-to-advance-malaysian-urban-air-mobility/", "page": 38, "title": "Futurise teams up with CAAM to advance  Malaysian urban air mobility", "contents": "Futurise Sdn Bhd (Futurise)Announced during the RegTalk series under the theme \u201cAdvanced Air Mobility (AAM) & Certified UAS Regulatory Challenges\u201d, the certification and regulatory sandbox hopes to balance public safety with industry needs, both parties said in a statement. The initiatives are also aimed at facilitating a conducive environment while enabling active and unhindered cultivation of innovative air mobility solutions to pave the way for Malaysian smart mobility. Manned eVTOL NRS on C-UAS will ensure all UAS operating within the sandbox meets all regulatory standards as set by CAAM, an essential requirement to certify that all UAS that are to be deployed during testing are operated under equivalent safety standards. In his opening remarks, Malaysian Deputy Transport Minister, Haji Hasbi said that collaborative efforts such as C-UAS and the Manned eVTOL NRS are prime examples of how key ecosystem players can band together to truly transform the industry and level the playing field for local drone technology companies. \u201cWhile our nation\u2019s drone industry has made great strides in recent years, we cannot rest on our laurels. There remains more to be done. We must foster a collaborative ecosystem and take catalytic steps to fulfil our nation\u2019s aspirations of becoming a key player in the global drone industry and an ASEAN drone hub, \u201cI laud, encourage, and hope to see the forging of more dynamic collaborative efforts that will lay the building blocks to create a thriving urban air mobility landscape for Malaysia,\u201d he said. The Deputy Transport Minister also shared that these initiatives will further reinforce the government\u2019s national agenda to support the UAS ecosystem and will increase Malaysia\u2019s economic impact. Rosihan Zain Baharudin, chief executive officer of Futurise said that these new initiatives will remove a lot of the red tape which will enable more companies to introduce their solutions without excessive curtailing. \u201cWe are excited to be working with MOT and CAAM to design a conducive ecosystem that will fast-track Malaysia\u2019s drone industry,\u201cSafety remains a priority and with C-UAS and the Manned eVTOL NRS, we will be able to better foster the creation of world-class applications of drone technology without having the sandbox participating companies\u2019 future-first ideas stymied, all while ensuring the safety of the public,\u201d he said He also said that it is important for Malaysia to look at AAM given the potential benefits for businesses and society as it promises to move people and cargo more quickly, safely and quietly as compared to helicopters. \u201cFurthermore, AAM is also expected to reduce traffic or ground congestion resulting in a low carbon footprint for the overall environment,\u201d he added. Chief Executive Officer of CAAM, Captain Norazman Mahmud shared with today\u2019s technological advancements and cutting-edge innovations, regulatory buy-in and leeway for experimentation are mission-critical. \u201cBy breaking down quite a bit of the policy barriers and instating ones that are forward-thinking, we will be able to see more home-grown solutions take flight, \u201cThis will help our local drone industry gain momentum and simultaneously allow us as a nation to benefit from an increase in drone technology implementation across varied industries,\u201d he added. The CAAM is a regulatory body that is responsible to ensure efficient management of the safety and security of the civil aviation industry. Its roles are to enable the growth of the aviation industry, regulate, oversee, and promote safety in the industry, provide air navigation services, and to ensure that the national and international obligations of Malaysia in matters relating to civil aviation are carried out to comply with international safety and security standards. Futurise is a wholly-owned subsidiary of Cyberview Sdn Bhd under the Ministry of Finance. Futurise is mandated by the government of Malaysia to manage the National Regulatory Sandbox. The firm provides public policy advisory, acting as a key enabler of regulatory solutions to expedite innovation and future-proof Malaysia\u2019s economy. KPMG joins MDEC to grow Malaysia\u2019s next generation of unicorns"}, {"url": "https://technode.global/2023/03/13/richard-lis-fwd-filing-hk-ipo-application-again-report/", "page": 38, "title": "Richard Li\u2019s FWD filing HK IPO application again \u2013 report", "contents": "FWD Group Holdings LtdThe company resubmitted listing documents with updated financial data Monday, confirming an earlier According to the report, the IPO, whose proceeds will be used to fuel the firm\u2019s growth, could come as soon as in the second quarter depending on market conditions. FWD was initially looking to go public in the US, where it had filed for an IPO that could have raised as much as $3 billion in 2021, according to Deliberations for the IPO are ongoing and details such as the size and timing could change, the people reportedly said. A representative for FWD declined to comment. Last month,The transaction is expected to close in the second quarter of 2023, FWD said in a statement then. FWD Group, and other investors, will together hold an effective 70 percent stake in Gibraltar BSN, which was sold by The Prudential Insurance Company of America, the wholly owned subsidiary of US-based NYSE-listed Prudential Financial, Inc. (PFI). Bank Simpanan Nasional (BSN) will continue to hold the remaining 30 percent stake ownership in Gibraltar BSN. Post-completion, FWD Group will partner with BSN to further develop and grow Gibraltar BSN. Founded 10 years ago, FWD has expanded across Asia both organically and via acquisitions. It counts more than 10 million customers across markets in the region. Earlier in 2019, it acquired the life insurance operations of Thailand\u2019s Siam Commercial Bank Pcl for about $3 billion. FWD to enter Malaysian life insurance market with strategic investment in Gibraltar BSN"}, {"url": "https://technode.global/2023/03/13/beyond-expo-back-in-macao-for-2023-to-see-technology-redefined-in-one-of-asias-biggest-tech-events/", "page": 38, "title": "BEYOND Expo Back in Macao for 2023 to See \u201cTechnology Redefined\u201d in one of Asia\u2019s Biggest Tech Events", "contents": "MACAO, March 13, 2023BEYOND Expo 2023 will focus on three key areas: BEYOND Sustainability, BEYOND Healthcare, and BEYOND ConsumerTech, facilitating the exchange of ideas to promote comprehensive industrial modernization, development, and transformation through global technological innovation. BEYOND SustainabilityBEYOND HealthcareBEYOND ConsumerTechThe BEYOND ExpoTo be held on May 10 right after the opening ceremony, the New Product Launch Event has been conceptualized with the best visibility in mind, with the largest display stands and the best resource allocation for participating companies, equipped with ultra-clear LED screens and multiple camera angles for viewing by global media. This empowers exhibitors to highlight the details of their product offerings so that potential partners and buyers can have a better view and understanding of their design concepts. BEYOND is working with the following international community partnersThe following international media partners will be covering BEYOND ExpoThe following Chinese media partners will be covering BEYOND ExpoWe shall be updating the list as more partners come on board. The BEYOND Organizing Committee will also actively promote the event through online and offline channels, including a large billboard at the exhibition area. BEYOND\u2019s official website, app, and social media platforms (LinkedIn, Twitter, YouTube, WeChat, Weibo, Jitterbug, etc. ) will also carry out announcements, live broadcasts, and reports. Scan the QR code to register. Leading up to BEYOND Expo, BEYOND will also have a roadshow across Southeast Asia, with Event detailsRSVP now by scanning this QR code (limited slots):Since 2020, BEYOND Expo has held two successful events, growing to be one of the largest and most influential technology expositions in Asia, attracting 800+ exhibitors and 55,000+ attendees worldwide. Running more than 150 industry forums with 500+ business leaders as speakers, BEYOND Expo provides a global platform for insightful technology exchange. BEYOND Expo will be held at the Venetian Macao Convention and Exhibition Center, which is spread across approximately 100,000 sqm and can accommodate more than 1,000 exhibitors. We expect Fortune 500 corporates, large multinational enterprises, tech unicorns, and startups to participate in this year\u2019s event. There will be more than 100 events and networking sessions at BEYOND Expo. We look forward to connecting with global tech innovation enthusiasts and facilitating in-depth interaction across all fields, including enterprise, product, capital, and industries, to promote the global tech scene in the Asia-Pacific region and across the world."}, {"url": "https://technode.global/2023/03/10/visa-partners-ghl-to-offer-consumers-instalment-options-for-in-store-purchases-in-malaysia/", "page": 38, "title": "Visa partners GHL to offer consumers instalment options for in-store purchases in Malaysia", "contents": "Global digital payments firm Visa said in a statement that its instalment payment solution turns already approved issuer credit lines into buy-now-pay-later payment options at checkout for Visa cardholders. Visa cardholders can now conveniently pay for their purchases in equal monthly payments at more than 3,000 participating merchant outlets featuring fashion, jewellery and electronic local and global brands. Visa said this is timely given that Buy Now Pay Later (BNPL) solutions are gaining popularity in the country. Cited the latest edition of Visa\u2019s Consumer Payment Attitudes Study, Visa said at least two thirds (87 percent) of Malaysian consumers use BNPL for their shopping purchases. The COVID-19 pandemic has impacted the spending patterns of consumers, who are tracking their expenses more closely, saving money for the future, and setting aside bigger budgets for essential items. Based on the study, consumers cited ease of use (54 percent), not needing physical credit cards to make payments (47 percent), and no processing fees (45 percent) as top drivers for using BNPL solutions. \u201cAs we move forward towards a digital-focused future, it is important that we continue to create products and solutions that meet the needs of our consumers and merchants,\u201d said Amitoj Sawhney, Head of Products for Regional Southeast Asia. \u201cWe\u2019re thrilled to partner with GHL again, this time for in-store merchants, after the first rollout of Visa Instalments for eCommerce purchases,\u201cThe introduction of Visa Instalments for in-store purchases reinforces our commitment towards providing innovative, convenient and secure payment solutions for our valued cardholders,\u201d he added. Kevin Lee, GHL Malaysia\u2019s Chief Executive Officer, said that the group\u2019s expanded partnership with Visa underscores its\u201cThis partnership not only enhances the consumers\u2019 accessibility to financial services but also help our merchants to increase conversion rates by providing flexible payment options,\u201d he added. Existing GHL merchants who have enabled Visa Instalments for in-store purchases include Mentari Unggul Optic, Spex Optic Group, Boston Time Square Sdn Bhd, Glories Gadget, E Spec Boutique, and other small and medium-sized enterprise (SME) merchants. Visa is the world\u2019s leader in digital payments. Its mission is to connect the world through the most innovative, reliable and secure payment network \u2013 enabling individuals, businesses and economies to thrive. Its advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. GHL is the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing over MYR1.5 billion ($330 million) payment transactions per month. The firm is also a Bursa Malaysia listed company since 2003, and is Malaysia\u2019s largest prepaid credit top up and bill collection network. The firm aspires to catalyse sustainable livelihood of the micro small medium entrepreneurs (MSMEs) through financial and non-financial value-added services. Touch \u2018n Go partners Visa to launch Touch \u2018n Go Visa prepaid card in Malaysia"}, {"url": "https://technode.global/2023/03/08/malaysia-introduces-initiatives-to-ensure-local-startups-will-have-access-to-later-stage-financing/", "page": 38, "title": "Malaysia introduces initiatives to ensure local startups will have access to later stage financing", "contents": "Malaysia has introduced several initiatives to ensure its homegrown startups will have access to later stage financing in the country so they do not need to seek listing abroad, said Prime Minister Anwar Ibrahim. \u201cI had the opportunity of meeting various successful homegrown startups such as [used car platform]Towards this, he said government-linked investment companies (GLICs) will set aside MYR1.5 billion ($332.7 million) in 2023 to invest in such homegrown startups; a tax deduction will be provided on listing costs for companies listing on ACE market, LEAP market as well as technology stocks onto the Main Board of the local exchange; and listed companies will be allowed issuance of dual class shares. \u201cWe certainly want to ensure that successful startups will have access to later stage financing here in Malaysia, so that they do not need to seek listing abroad,\u201d Anwar, who is also the Finance Minister, added. The venture capital and tech startups fraternity has always pointed out the access to funding, especially later stage funding, as one of the reasons Malaysia is losing some of its homegrown tech startups and talents to neighboring Singapore, which has a better-developed ecosystem for start-up funding that helps attract international financiers and bring higher valuations for their public offerings. Malaysia-born tech unicorn Malaysia-headquartered Carsome, which is also the country\u2019s first tech unicorn, was said to be seeking to go public through a dual listing on NASDAQ and the Singapore Stock Exchange that would value the company at around $2 billion. Meanwhile, Malaysian stock exchange\u2019s move to allow listed companies to issue dual-class shares also came after neighboring Indonesia introduce a similar initiative in 2021 in a bid to boost tech IPOs on Indonesia Stock Exchange (IDX). Under a dual-class shares framework, certain shares have more voting rights than others, allowing holders, usually the company\u2019s founders, to retain directional control of their company. It is also a common practice among tech startups in the US, according to earlier reports. Allaying concerns that the government\u2019s move to impose capital gains tax will deter investments, Anwar said the tax will only be finalized upon extensive engagement with stakeholders. \u201cI would like to give you the government\u2019s commitment that: \u2013 First, the tax will only be finalized upon extensive engagement with stakeholders; \u2013 Second, the tax will not be introduced on listed shares; and \u2013 Third, the disposal of unlisted shares for an approved Initial Public Offering will also not be subject to capital gains tax,\u201d he said. Meanwhile, launched in December last year, the Bursa Carbon Exchange is a vital catalyst in the acceleration towards a net-zero future. It is also the first exchange in the world to receive a Shariah pronouncement for its Carbon Exchange. To support the national journey to achieve Net Zero as early as 2050, the prime minister also announced that the government is committing to a seed fund amounting to MYR10 million ($2.21 million) to act as an assured demand of Malaysian-generated carbon credits to kickstart the market. On Environmental, Social, and Governance (ESG)-related policies, Malaysia also seeks to accelerate the transition and transformation of industries and local players towards ESG adoption, even for small and medium enterprises (SMEs). For example, through Ministry of International Trade and Industry, Anwar said consultation and engagement with local and international stakeholders is ongoing to develop the National ESG framework for the manufacturing sector by 2024. Bursa Malaysia, working with the London Stock Exchange Group (LSEG), will be rolling out a Centralized Sustainability Reporting platform next month, according to Anwar. This will enable companies, both public listed companies as well as non-listed SMEs, to calculate their carbon emissions impact. It will also help them to disclose standardized common ESG data in a way that conforms to established global standards. \u201cThis platform has the potential to be a key enabler to Malaysia\u2019s pivot to green, and to support our sustainable development, while creating high skill jobs for our progress towards a high income nation,\u201d he added. AWS to launch infrastructure region in Malaysia; plans to invest $6 billion by 2037"}, {"url": "https://technode.global/2023/03/08/catcha-digital-completes-acquisition-of-imedia/", "page": 38, "title": "Catcha Digital completes acquisition of iMedia", "contents": "Catcha Digital Berhad (Catcha Digital)This acquisition was preceded by the appointments of a new Group Chief Executive Officer on January 2, 2023 and a new Chairman on March 1, 2023, Catcha Digital said in a statement. According to the statement, Catcha Digital now owns fast-growing integrated digital media solutions provider, with an extensive portfolio of digital marketing platforms, reaching 12.7 million Malaysians in June 2022 and services over 100 brands spanning across various industries. In FYE2021, despite volatile market conditions, iMedia Group recorded a profit before tax of MYR6.07 million ($1.34 million) and profit after tax and minority interest (PATAMI) of MYR3.66 million ($810,000). The group expects to achieve better profitability for FYE 2022. \u201cI have worked with the team behind iMedia for over 20 years and I am confident that the integration of the vast reach and capabilities of iMedia will accelerate Catcha Digital to be at the forefront of the digital media arena in Malaysia and then Southeast Asia, \u201cThe tremendous growth in profit over the last financial year shows that the team and strategy are executing the strategic plan exceptionally well\u201d, said Patrick YKin Grove, Chairman of Catcha Digital. Voon Tze Khay, Co-Founder and Chief Executive Officer of iMedia, said :\u201cWe are very excited to build on our extensive experience in the digital media space and continue to offer comprehensive and integrated digital media solutions to all clients as they embark on their digital transformation journey. \u201d \u201cWe will continue to partner with, invest in and acquire synergistic digital businesses to strengthen our ecosystem of products and solutions, \u201cThe closing of this transaction represents a new chapter in the iMedia journey, and we believe the best is yet to come,\u201d he added. Upon the completion of the regularisation plan, Catcha Digital will have its GN2 status lifted and will continue to execute its strategic plans and explore new opportunities that will drive its growth in the digital and technology industry in Southeast Asia. The final step of the regularisation plan involves a proposed rights issue which may raise up to MYR41.04 million ($9.07 million). Catcha Digital has secured an undertaking from its major shareholder, Catcha Group to subscribe for a minimum of MYR18 million ($3.98 million) in the proposed rights issue. \u201cWe see this acquisition of iMedia as just the beginning of Catcha Digital. We will accelerate our growth and continue pursuing highly accretive investment opportunities that align with our strategic goals, \u201cOur goal is to attract the best digital and software companies to work with us and consolidate our industry to be the leader in Southeast Asia\u201d, said Eric Tan, Chief Executive Officer of Catcha Digital. Catcha Digital is a Malaysia-based investment holding company, focused on operating businesses in the digital media, advertising and software industries. The group\u2019s wholly-owned business, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast-moving consumer goods (FMCG), retail, property, entertainment and other industries in Malaysia. [Updated] Catcha Group\u2019s Patrick Grove considers SPAC-listing in Singapore"}, {"url": "https://technode.global/2023/03/08/capital-a-signals-growth-plans-with-leadership-transition-in-its-digital-portfolio/", "page": 38, "title": "Capital A signals growth plans with leadership transition in its digital portfolio", "contents": "Capital AIn a statement on Tuesday, Capital A also announced that its Head of Investments John Cheing has been appointed as the Chief Financial Officer for airasia Digital and airasia Super App effective 1 March. According to the statement, these leadership transitions are in line with the company\u2019s growth plans to scale up Capital A\u2019s digital business portfolio, which includes its subsidiaries, the airasia Super App, the travel & lifestyle platform and its fintech portfolio BigPay. \u201cAs demonstrated in our fourth quarter of 2022 results which showed strong performances in both our super app and our fintech business, we are excited to be launching the next phase of growth in our digital portfolios,\u201d said Tony Fernandes, Chief Executive Officer of Capital A. \u201cI have full confidence in Commercial President of Capital A, Colin Currie to take the Chief Executive Officer role for airasia digital given his past experience of leading adidas to record-breaking growth in the regional market he managed,\u201cHe will be heading a competent team to create stronger synergy and a better user experience in travel and payment by forging a closer collaboration between the airasia super app and BigPay platforms for the users within the Capital A ecosystem,\u201d he said. He also noted John\u2019s experience as the Head of Investments for Capital A and his close involvement especially with the strategic planning of airasia super app will also be beneficial in his new role as the Chief Financial Officer for airasia Digital. \u201cBoth Colin and John will work closely with me to scale our digital business portfolio up,\u201d he added. Colin Currie, Chief Executive Officer of airasia Digital and President, Commercial of Capital A said he is excited to be guiding airasia digital as it pursues its vision of creating an ecosystem of businesses that connect with our customers in their everyday life bringing them the best of travel, financial and lifestyle services. \u201cWe believe that our digital journey has much more room for growth as we aim to become one of the leading travel superapps within Asean and beyond, \u201cI look forward to working with John whose strong financial knowledge and experience will help drive strategic goals, deliver value and ultimately  bring our digital businesses to new heights while ensuring we continue to be profitable,\u201d he said. The airasia super app is the one-stop travel, e-commerce and fintech platform business of Capital A offering consumers over 15 lines of products and services via the super app as well as the airasia. com website. Powered by data and technology, the airasia super app leverages its digital ecosystem of 51 million users and 40 million downloads to generate a personalised and seamless consumer experience. Users can also engage in real-time conversations, join like-minded communities, play games and much more. The app covers travel needs to everyday lifestyle essentials. BigPay is a Southeast Asian fintech group founded in 2017. The company is committed to democratizing financial literacy, accessibility, and wellbeing in the region by providing accessible, transparent, simple and secure digital financial services. From payments to international transfers, micro-insurance, personal loans, savings and smart budgeting, BigPay goal is to drive sustainable change for consumers and businesses across Southeast Asia. Malaysia\u2019s Capital A introduces new AI-powered \u2018Ask Bo\u2019 chatbot"}, {"url": "https://technode.global/2023/03/03/jaya-grocer-launches-membership-integrated-with-grab/", "page": 38, "title": "Jaya Grocer launches membership program integrated with Grab", "contents": "Malaysian premium supermarket chain The membership, which is accessible right on the Grab app, aims to enhance consumers\u2019 overall shopping experience by allowing them to conveniently earn and redeem GrabRewards points at all Jaya Grocer outlets nationwide, Jaya Grocer said in a statement on Friday. Elaborating on the new membership program, Adelene Foo, Chief Executive Officer of Jaya Grocer and Managing Director of Grab Malaysia, said the group\u2019s aim was to leverage Grab\u2019s technology to create a seamless and rewarding experience. \u201cBy integrating with an established loyalty program like GrabRewards, consumers not only gain additional opportunities to earn GrabRewards points, but in turn, an additional avenue to use their GrabRewards points,\u201d she said. Moreover, she said with rising concerns surrounding the cost of living, this initiative is part of the group\u2019s commitment to connect Malaysians to affordable and accessible convenience. \u201cMoving forward, we hope to further enhance our Jaya Grocer membership by exploring even more possibilities to add value to the lives of Malaysians,\u201d she added. According to the statement, the new Jaya Grocer membership powered by Grab is the company\u2019s first membership program that aims to reward consumers with loyalty points on every purchase they make at Jaya Grocer outlets nationwide. These will then be accumulated as GrabRewards points and conveniently housed within the Grab app. Jaya Grocer Membership is powered by Grab, offering the same loyalty programme in enabling you to earn GrabRewards Points when consumers shop at Jaya Grocer in-store or via GrabMart. It is noted that the new Jaya Grocer membership is a free membership that is automatically activated when a purchase is made either in-store or on the Grab app. Consumers will earn 0.75 GrabRewards with every MYR1 ($0.22) spent when they pay with cash, credit/debit card or GrabPay. After cashier scans the Jaya Grocer membership barcode, consumers will be asked if they would like to redeem an e-voucher to offset their bill whenever they have sufficient GrabRewards over the cashier counter.  Jaya Grocer said it is committed to enhancing the shopping experience for consumers through future membership perks and benefits. Other perks it might be looking into include birthday treats, exclusive event invites, members\u2019 day sales, and much more. \u201cThis membership truly highlights the possibilities that can be unlocked when we leverage technology to create synergy between different industries \u2013 delivering accessible and affordable convenience to Malaysians,\u201cWe\u2019re excited to provide a rewarding experience for consumers, and we hope to further enhance this by exploring even more possibilities to add value to the lives of Malaysians,\u201d concluded Foo. Jaya Grocer is a leading mass-premium supermarket chain in Malaysia. Established in 2007, the supermarket focuses on introducing high quality fresh ingredients, and a wide range of imported goods to households across Malaysia. The company has expanded to more than 40 outlets across Malaysia, including specialty stores such as Korean Grocer. Jaya Grocer aims to provide customers with an elevated shopping experience both in-store and through online channels on GrabMart. Founded in 2012, Grab is Southeast Asia\u2019s leading superapp based on gross merchandise value (GMV) in 2021 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. The firm operates across the deliveries, mobility and digital financial services sectors in over 480 cities in eight countries in the Southeast Asia region \u2013 Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single \u201ceveryday everything\u201d app. The Grab app has been downloaded onto millions of mobile devices. Grab to acquire Malaysia-based supermarket chain Jaya Grocer"}, {"url": "https://technode.global/2023/03/02/gobi-partners-and-mavcap-works-with-paywatch-to-address-demand-for-earned-wage-access/", "page": 38, "title": "Gobi Partners and MAVCAP works with Paywatch to address  demand for earned wage access", "contents": "Gobi Partners, an interconnected Pan-Asian venture capital (VC) firm, has invested in Malaysia Venture Capital Management Berhad (MAVCAP), one of the backers of Superseed II Fund, is also working with Paywatch to support its mission of providing fair financial access for all workers in Malaysia, Paywatch said in a statement. According to the statement, Superseed II Fund is additionally backed by Allianz Malaysia Berhad and Sunway Group. \u201cOur average user may have a bank account, but is denied access to other financial services, and we believe that if you are employed and work hard, you should have equal access to all financial opportunities,\u201d said Alex Kim, Co-Founder and President at Paywatch. Through Paywatch, he said the firm helps employees gain access to low-cost solutions from our partner banks. \u201cWe\u2019re proud to have grown from strength to strength \u2013 becoming the only bank-backed and regulator approved EWA solution in Asia,\u201d he said. According to him, the firm\u2019s Malaysian clients now range from large brands, such as KFC, Pizza Hut and Lotus\u2019s, to growing brands such as Kenny Hills Bakers and BilaBila Mart. \u201cThis funding support will enable us to continue developing new offerings and foster better financial wellbeing for all,\u201d he added. The investment is the latest addition to Paywatch\u2019s recent Pre-Series A funding round. In total, Paywatch has raised $9.5 million in the oversubscribed round, with participating investors including Vanderbilt University, University of Illinois Foundation, Third Prime and Hana Ventures. All of the investment was in equity and the global round included investors from Malaysia, Singapore, US and South Korea. \u201cThe Gobi Superseed II Fund supports Malaysia\u2019s most promising startups in their field, and Paywatch\u2019s work around financial inclusion for Malaysia\u2019s low income workforce has been outstanding,\u201cThey have proved to be clear frontrunners in the EWA industry, with a strong vision and scalable solution. We\u2019re pleased to have them join our portfolio of successful startups, and are excited to support them as they look to expand not only within Malaysia, but also Southeast Asia,\u201d said Jamaludin Bujang, Gobi Managing Partner (Malaysia). Paramjit Singh Gill, MAVCAP Chief Investment Officer, said that MAVCAP\u2019s mandate has always been to develop local venture capital talents and provide industry changemakers with the support they need to reach their full potential. \u201cPaywatch has been leading the charge in the local EWA industry. We believe this investment will also spur further growth for the Malaysian economy, and look forward to being a partner in their efforts to grow their portfolio of products and accelerate distribution across the country this year,\u201d he added. Paywatch is an earned wage access service provider backed by major banks and recognized by Central Banks and regulators for its commitment to financial inclusion. Working with top banks and employers in each of its markets, the firm serves as a bridge to help employees get banked, start getting credit the right way and find financial security. Paywatch\u2019s EWA solution helps employees access their earned salary instantly. Serving more than 200,000 employees globally, Paywatch hasThe solution has also improved retention rates for both small and medium-sized enterprises (SMEs) and multinational corporations (MNCs) in Malaysia, with businesses that leverage Paywatch reporting reduced turnover rates up to 75 percent, saving over MYR2.1 million ($500,000) in annual rehiring fees. Founded by brothers Richard Kim and Alex Kim, Paywatch aims to provide fair financial access to all employees. The firm operates in South Korea, Malaysia and Hong Kong. Gobi Partners onboards Malaysian startups Durioo+, Lapasar, Paywatch and pitchIN to the Gobi Superseed II Fund"}, {"url": "https://technode.global/2023/03/02/aws-to-launch-infrastructure-region-in-malaysia-plans-to-invest-6-billion-by-2037/", "page": 38, "title": "AWS to launch infrastructure region in Malaysia; plans to invest $6 billion by 2037", "contents": "Amazon Web Services (AWS), an Amazon. com, Inc. company, has on Wednesday announced plans to launch an AWS infrastructure Region in Malaysia. AWS said in a statement that the new AWS Region will give developers, startups, entrepreneurs, and enterprises, as well as government, education, and nonprofit organizations, greater choice for running their applications and serving end users from data centers located in Malaysia. As part of its commitment to the region, AWS is planning to invest $6 billion in Malaysia by 2037. \u201cAWS has committed to the largest international technology investment to date in Malaysia, which will advance our Malaysia Madani vision of a highly skilled, innovative, prosperous, and sustainable economy,\u201d said Datuk Seri Anwar Ibrahim, Prime Minister of Malaysia. \u201cBringing access to world-class AWS infrastructure, advanced technologies, and cloud skills programs to Malaysia will unlock opportunities for local businesses of all sizes to build and expand globally, cultivate a highly skilled workforce, spur new job creation, and deliver long-term economic growth,\u201cToday\u2019s announcement is a vote of support for Malaysia\u2019s leadership in the global digital economy, and we look forward to deepening our collaboration with AWS to advance our nation\u2019s cloud-first ambitions,\u201d he added. Meanwhile, AWS Infrastructure Services Vice President Prasad Kalyanaraman said the new AWS Region reflects the group\u2019s deep and long-term commitment to customers and organizations in Malaysia, as well as its commitment to serving sizeable and fast-growing demand for cloud services across Southeast Asia. \u201cWe are proud to support Malaysia\u2019s digital transformation with the highest levels of security and reliability available on AWS cloud infrastructure,\u201cWe look forward to helping Malaysian institutions, startups, and companies deliver cloud-powered applications to fuel economic development across the country and to spur job creation, skills training, and educational opportunities in the communities surrounding our data centers,\u201d he added. The new AWS Region will consist of three Availability Zones at launch, adding to the existing 99 Availability Zones across 31 geographic regions globally. With today\u2019s announcement, AWS has plans to launch 15 more Availability Zones and five more AWS Regions in Canada, Israel, Malaysia, New Zealand, and Thailand. AWS Regions consist of Availability Zones that place infrastructure in separate and distinct geographic locations, with enough distance to significantly reduce the risk of a single event impacting customers\u2019 business continuity, yet near enough to provide low latency for high availability applications that use multiple Availability Zones. Each Availability Zone has independent power, cooling, and physical security and is connected through redundant, ultra-low latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones and across multiple Regions to achieve even greater fault tolerance. The new AWS Region will enable customers with data residency preferences to store data securely in Malaysia, enable customers to achieve even lower latency, and serve demand for cloud services across Southeast Asia. Customers from startups to enterprises to government organizations and nonprofits will be able to use advanced technologies from the world\u2019s leading cloud to drive innovation. AWS also offers the broadest and deepest portfolio of services, including analytics, compute, database, Internet of Things (IoT), machine learning, mobile services, storage, and other cloud technologies. Organizations in Malaysia are among the millions of active customers using AWS in more than 190 countries around the world. Enterprises in Malaysia choose AWS to innovate, drive cost efficiencies, and accelerate time to market-segment. Customers using AWS include Astro Malaysia Berhad, Axiata Group, Bank Islam Malaysia, CelcomDigi, Johor Corporation, PayNet, and Petroliam Nasional Berhad (PETRONAS). Malaysian public sector customers also use AWS to help drive cost savings and better serve local citizens. These customers include Asia Pacific University of Technology & Innovation, BeEducation, Cybersecurity Malaysia, Department of Statistics Malaysia, Ministry of Higher Education Malaysia, Pos Malaysia, and Tenaga Nasional Berhad (TNB). Malaysian startups and small businesses, including Baba Products, Carsome, Omesti Berhad, and StoreHub, are also building their businesses on AWS to rapidly scale nationally and around the world. It is also noted that the AWS Partner Network (APN) includes tens of thousands of independent software vendors (ISVs) and systems integrators (SIs) around the world. AWS Partners build innovative solutions and services on AWS, and the APN helps by providing business, technical, marketing, and go-to-market support to customers. AWS ISVs, SIs, and consulting partners help enterprise and public sector customers migrate to AWS, deploy mission-critical applications, and provide a full range of monitoring, automation, and management services for customers\u2019 cloud environments. Examples of Malaysia-based AWS Partners include Axrail, eCloudvalley, Exabytes, G-AsiaPacific, GHL, Maxis, Radmik Solutions Sdn Bhd, Silverlake Axis, Tapway, Uberfusion, and Wavelet. AWS signs new Cloud Framework Agreement with Malaysia govt to power public sector innovation"}, {"url": "https://technode.global/2023/03/01/malaysias-durioo-raises-2-85m-in-seed-round-led-by-y-combinator-and-gobi-partners/", "page": 39, "title": "Malaysia\u2019s Durioo+ raises $2.85M in seed round led by  Y Combinator and Gobi Partners", "contents": "Malaysian Islamic-themed streaming service Among the investors are Y Combinator, Uncommon Capital, Gobi Partners, Lynett Capital, New Venture Order (NVO), and Innate Capital, Durioo+ said in a Wednesday. Angel investors consisting of unicorn founders and employees of well-known companies from all over the world, such as Google, Meta, and IQIYI, also partook in the fundraising round. In the next five years, Durioo+ plans to amass a broader viewership base in places such as the United States, the United Kingdom, the Middle East and North Africa (MENA), Indonesia, Europe and other South Asian countries. The platform also aims to enter the global market by creating more content and launching Durioo Games through collaborations with other local and foreign animation studios, production houses, and game companies. Founded in February 2022, Durioo+ was conceived with the idea of providing a safe streaming platform specific to Muslim children. The aim is to produce, co-produce and license entertaining and fun content with good values, virtues, and/or Islamic teachings. As of today, they have more than 22,000 subscribers \u2013 both within and outside of the country \u2013 and have recorded an average of 39 percent month-over-month (MoM) growth within the past half a year. Investments aside, Durioo+ has signed a total of 27 strategic partnerships with multiple partners encompassing corporates, government agencies, non-government organizations as well as small and medium-sized enterprises. Notably, the company\u2019s partnership with Unifi TV. Unifi TV will be offering Durioo+ as part of their largest selection of streaming apps via Unifi Plus Box this Ramadan and RayaTo kickstart this collaboration, all Unifi TV Packs customers can redeem free trials of Durioo+ starting 18 March 2022. Its collaboration with Malaysia Digital Economy Corporation (MDEC) meanwhile, will enable Durioo+ to build and support the country\u2019s digital creative ecosystem. Beyond that, its deals with well-known brands such as TV9, Little Caliph Kindergarten, Institut Jantung Negara and Persatuan Cinta Gaza Malaysia will also help to further strengthen its brand recognition amongst the public. For content, Durioo+ has produced 20 original programmes since its establishment, ranging from entertaining animated cartoons to edutainment live-action content. They have also licensed more than 1,500 episodes from globally-renown shows, such as Baby Shark, Upin & Ipin, and more. \u201cWe\u2019ve had a great year for the platform from all points of business, \u201cWe are glad that the investors believe in our vision and want to work together with Durioo+ to create this safe digital environment for the children,\u201d said Durioo+ Founder, Sinan Ismail. He is also the creator of billion-view cartoons Omar & Hana and Didi & Friends. \u201cThis is just the start and we are really looking forward to reaching the hundred millions of Muslim children all around the world,\u201d he added. MDEC Chief Executive Officer Ts Mahadhir Aziz said MDEC is proud to have supported this innovative platform from the beginning. \u201cWith its focus on connecting Malaysian entrepreneurs and businesses with investors and markets, Durioo+ plays a crucial role in driving the growth of our digital economy and ecosystem, \u201cWe congratulate Durioo+ on this important milestone and look forward to continuing our partnership to empower even more Malaysian businesses to succeed,\u201d he added. Durioo+ is a streaming platform dedicated for Muslim children. Graduating from the Y Combinator W22 batch in 2022, Durioo+ focuses on producing, co-producing and licensing high-quality, entertaining and Muslim kids-friendly content for Muslim children globally. Launched in Feb 2022, the platform houses more than 1,600 episodes of content (including Durioo+ Originals and licensed content such as Baby Shark) and reaching 20,000 paid subscribers with a 30 percent M-O-M monthly recurring revenue (MRR) growth. Durioo+ aims to hit 100,000 subscribers by 2023 and 1 million subscribers by 2026. Gobi Partners onboards Malaysian startups Durioo+, Lapasar, Paywatch and pitchIN to the Gobi Superseed II Fund"}, {"url": "https://technode.global/2023/03/01/top-five-winners-announced-in-mystartup-pre-accelerator-programme-cohort-2/", "page": 39, "title": "Top five winners announced in MYStartup Pre-Accelerator Program Cohort 2", "contents": "Top five winners have been announced in The five winners are Acxyn, Boom Rocks, Certiify, IHX and Ulalive, MYStartup said in a statement on Tuesday. MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) and powered by Cradle Fund Sdn Bhd. (Cradle). Having validated MYStartup\u2019s aim to bring positive impact to the Malaysian startup ecosystem, the Pre-Accelerator Programme was exclusively designed for pre-seed and early-stage startups targeted at achieving impactful customer proof points while building and validating ideas and business models. \u201cAs we strive to be one of the top startup ecosystems in the region, we will continue to develop our support system especially for startups who are just beginning their journey. \u201d said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle. \u201cThis stage is the most crucial first step, where startups would need the most care. Through the MYStartup Pre- Accelerator Program, local early-stage startups will have access to a myriad of available resources, such as world-class mentorship, guidance, and funding opportunities to provide them with all the assistance they need, \u201cAs we further enrich the Malaysian startup network, we hopeA total of 38 startups across 8 different industries of EdTech, AgTech, Healthtech, global business services, Fintech, FoodTech, manufacturing, digital arts were selected for the Pre-Accelerator programme Cohort 2. Over the five-month duration between October 2022 to February 2023, they were given direct access to MYStartup\u2019s startup resource library, exclusive networking events with MYStartup\u2019s pool of international and local mentors and partnerships, invitations and group visits to innovation hubs, market research access, as well as channels to funding opportunities. Additionally, at the end of the Pre-Accelerator program, the list of post-programme and funding opportunities continue as added perks where startups will be given the chance to leverage on the BEYOND4 (the first Startup Accelerator to be backed by a Funding Programme) Ecosystem with the continuous support of MYStartup in the respective startups\u2019 growth. Startups will be given the opportunity to participate in BEYOND4 Phase 2 Journey which consists of further assistance in startup governance, shared services, comprehensive guidance, and equity crowd funding resources that allow startups extra prospects to procure the necessary funding to accelerate their market-readiness development. Guidance have always been at the forefront of MYStartup\u2019s programs, providing startups with ample opportunity to be noticed by potential investors (local and international), as well as enabling market reach well after the Pre-Accelerator programme has concluded. This inclusion of post-program opportunities guarantees a comprehensive and holistic journey for early- stage startups to increase their rate of success moving forward. Towards the end of Demo Day, the winners of MYStartup\u2019s Pre-Accelerator Programme Cohort 2 were also announced. The top five winning startups are:1. Acxyn, a games economic infrastructure builder that will ease adoption of the decentralized web, and unlock the true economic potential of games, where games will2. Boom Rocks, a virtual and hybrid event platform offered to anyone or any business with a stage to showcase and sell their products live to event attendees.3. Certiify, combats fake certification issues with blockchain-powered certification management solutions.4. IHX, a digital healthcare marketplace.5. Ulalive, a no-code platform that uses personalized video call-to-actions to help businesses acquire leads faster and build a sales pipeline from scratch. These top five startup winners will participate in the exclusive MYStartup Overseas Immersion Programme that allows them the chance to engage and connect with other key players in the industry on an international playing field. Designed to ensure that startups are fully prepared to enter any market for further business expansion, the Overseas Immersion Programme is one of the key highlights of the Pre-Accelerator Programme. Spending three days in True Digital Park in Thailand, the winning startups will be able to gain real-life insights as they connect and engage with a range of potential partners to have impactful conversations on sustaining a business and possibly expanding their businesses to the next level. Beyond that, the opportunity for international research and development (R&D) partnerships, along with market testing, will massively aid these startups in ensuring their offerings fit the demand of users globally. MYStartup, DNB announce winners for MYStartup Hackathon 2022"}, {"url": "https://technode.global/2023/03/01/miti-approves-teslas-application-to-import-battery-electric-vehicles-into-malaysia/", "page": 39, "title": "Malaysia government approves Tesla\u2019s application to import BEVs into the country", "contents": "The Ministry of International Trade & Industry (MITI) In realising this objective, Tesla will establish a head office in Malaysia, introduce Tesla Experience Centres and Tesla Service Centres, and establish its Supercharger network, MITI said in a statement. According to the statement, TESLA\u2019s presence in Malaysia is expected to create skilled and better paying job opportunities for workers in the BEV segment and increase the participation of local companies in the TESLA ecosystem both domestically and globally. \u201cWe are pleased by Tesla\u2019s decision to establish its presence in the Electric Vehicle (EV) ecosystem in Malaysia,\u201cThis demonstrates Tesla\u2019s confidence in our economic fundamentals and conducive business environment,\u201d said Zafrul Aziz, MITI Minister. \u201cEven as major global brands decide to invest and re-invest in Malaysia, MITI and its agencies will continue to enhance efforts to improve the ease of doing business, while continuously profiling Malaysia as pro-trade, pro-industry and pro-investment, \u201cWe will also strategically leverage on our established electrical and electronics ecosystem to make Malaysia the preferred investment destination for technology related to electric mobility,\u201d he added. The entry of TESLA has been facilitated by MITI through the introduction of the BEV Global Leaders initiative which aims to help boost BEV demand in the local market and further promote the development of the entire ecosystem to supportIn addition, the initiative seeks to secure investments from leading global BEV manufacturing companies in Malaysia. Tesla is the first applicant of this initiative by MITI. Indonesia President Jokowi wants Tesla to make cars locally, not just batteries \u2013 report"}, {"url": "https://technode.global/2023/03/01/malaysias-krenovator-introduces-ai-coding-assistant-to-accelerate-coding-learning-for-tech-talents/", "page": 39, "title": "Malaysia\u2019s Krenovator introduces AI Coding Assistant to accelerate coding learning for tech talents", "contents": "Malaysia-based artificial intelligence (AI) tech talent and placement platform Krenovator Technology said in a statement that the new tool provides users with real-time feedback and suggestions, helping them to improve their coding skills efficiently and effectively. It said it also allows users to create new software at a much faster rate than conventional methods. According to the statement, the intelligent coding assistant is available for users at no charge. Among Abraham\u2019s main capabilities are to assist users in completing unfinished code as well as detect any syntax or semantic errors in a code. \u201cWe are thrilled to introduce Abraham to the world. As a provider of coding training, we often receive a high volume of questions from our users,\u201d said Mahadhir Yunus, Chief Executive Officer of Krenovator Technology. \u201cSome of these questions were unique, which made it challenging to provide quick answers, while others were repetitive. These situations have inspired us to create an intelligent and efficient method of learning to code, \u201cOur objective is to offer targeted assistance to developers worldwide so that they can create high-quality and innovative solutions,\u201d he added. Currently, Abraham supports full-stack programming covering 17 popular programming languages and frameworks including frontend, backend, database, API, Angular, DevOps, Flutter, . NET, PHP, Python, Java, and Javascript. Krenovator is working on expanding the list. \u201cWe are glad that the work that began in early 2022 to develop Abraham has finally come to fruition now, \u201cWhether it\u2019s a junior coder trying to fix a bug or a senior software engineer wanting to inspect their codes, Abraham can assist 24/7,\u201d said Mahadhir. He sees that Abraham has the potential of becoming the first line support assistance when it comes to coding. Krenovator Technology plans to introduce an enterprise version of the AI coding assistant in the future. The firm\u2019s Tech Talent Platform offers free coding and training modules developed by the company. It has also recently partnered with Coursera to allow users to obtain a certification. The platform currently has more than 3,000 tech talents from Malaysia and Indonesia combined. Founded in 2019, Krenovator Technology is an AI tech talent and placement platform that provides services to two main groups \u2013 individuals who want to learn and improve coding skills, and companies looking to hire qualified software developers. The company\u2019s digital platform which was launched in late 2022 has attracted over 3,000 tech talents from Malaysia and Indonesia. So far, the company has also successfully helped more than 200 qualified talents to land a tech job with employers from Malaysia, Singapore, and the United Kingdom. The firm is based in the state of Selangor, Malaysia. Malaysia\u2019s Aerodyne makes strategic investment in Aiviewgroup in Italy"}, {"url": "https://technode.global/2023/03/01/grabfood-introduces-saver-delivery-lowest-delivery-fee-from-the-widest-range-of-restaurants/", "page": 39, "title": "GrabFood Malaysia introduces Saver Delivery \u2013 lowest delivery fee from the widest range of restaurants", "contents": "GrabFood MalaysiaThis includes expanding the Saver Delivery option to additional cities nationwide beginning today, providing a lower delivery fee option for consumers across the country, Grab said in a statement on Tuesday. \u201cIn this current climate, we believe it\u2019s vital to continuously enhance our service, making it even more affordable while catering to the diverse needs of consumers,\u201d said Jiong Jian Tan, Director of Commercial and Deliveries at Grab Malaysia. In addition to having the widest range of restaurants Malaysians love, he said Saver Delivery now allows the firm to offer its lowest delivery fee option nationwide. \u201cWe hope that with these enhancements, we\u2019re able to serve even more Malaysians across the country and bring them accessible convenience that suits their lifestyle,\u201d he added. First piloted in November 2022, Saver Delivery is an option whereby users will be able to enjoy delivery fees from as low as MYR1 ($0.22) on the widest range of restaurants on GrabFood in exchange for a slightly longer delivery time. This is done by grouping orders in the same direction a delivery-partner will travel. Therefore, the option is only applicable from eligible merchant-partners, depending on several factors such as time of order and location. Delivery-partners allocated these orders will also be compensated the same as other delivery options. The expansion of Saver Delivery also sees the introduction of the Direct Delivery in the revamped delivery options, which provides a shorter delivery time for consumers who are in a rush to receive their orders. Together with these new options, features such as being able to schedule your order and opt for self pick-up, aims to provide consumers a wide range of convenient options for them to get their meals. By making food delivery more accessible for consumers and catering to varied types of eaters, the revamped delivery options will also benefit our delivery-partners and merchant-partners alike by spurring additional income opportunities. \u201cWe are committed to continue enhancing our service to provide value added solutions to all within the ecosystem who depend on the platform, \u201cAnd through this, we hope that we\u2019re able to safeguard its sustainability \u2013 continuing to provide affordable convenience to consumers and as a source of earning opportunity for  merchants and delivery-partners\u201d concluded Tan. Grab has liquidity to drive operations, says S&P Global Ratings"}, {"url": "https://technode.global/2023/02/28/mranti-dnb-ericsson-extend-mou-to-boost-technology-clusters-in-mranti-park/", "page": 39, "title": "MRANTI, DNB, Ericsson extend MOU to boost technology clusters  in MRANTI Park", "contents": "The \u200b\u200bIn 2022, the MoU was signed with the initial goal of preparing MRANTI Park for 5G technology and raising awareness of it in the local community. The renewed MoU will prioritise promoting awareness and adoption of 5G among businesses in Malaysia, with the objective of expediting the implementation of the 5G-enabled STIE agenda, MRANTI said in a statement. Under the extended MoU, the partners will contribute towards the development of MRANTI 5G Experience Center by providing content and support to ensure innovators, researchers, startups and businesses are well equipped on 5G literacy. The 5G Experience Center at MRANTI Park which is expected to be launched in March this year is an exciting new space where visitors can learn about the latest advancements in 5G\u201cAt MRANTI Park, we equip innovators, researchers, and businesses with cutting-edge infrastructure and capabilities to drive returns on innovation across the ecosystem, \u201cThrough this collaboration, it will strengthen MRANTI\u2019s position as the leading 4IR (the Fourth Industrial Revolution) hub with facilities and resources to support industry growth in dronetech, healthtech, agritech, bioscience and 4IR enabling technologies,\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. Dzuleira added that as a result of the collaboration last year, MRANTI Park has successfully become 5G ready, with download speeds more than 600Mbps. \u201cThe partners have also worked together last year, to deliver physical and digital 5G engagements with MRANTI innovators and community, specifically during MRANTI 5G Open Day and National Science Week. \u201d she said. This year, MRANTI together with DNB and Ericsson have agreed to extend their partnership with the shared goal of fast-tracking the integration of 5G technology into businesses. \u201cSpecifically, we aim to accelerate the commercialisation of STIE-related innovations enabled by 5G, \u201cIn the upcoming year, the partners are planning to facilitate more targeted discussions and interactions with innovators, as well as opening our 5G experience center to businesses,\u201d added Dzuleira. According to the statement, this partnership is poised to draw a large cohort of innovators to the park, allowing them to develop 5G applications that may be further refined and tested at MRANTI Park. Moving forward, MRANTI, DNB and Ericsson will continue to work closely on the planning and implementation of 5G infrastructure, as well as the facilitation of knowledge-sharing sessions on 5G technology and related capabilities. This cooperation is evidence of support to MRANTI\u2019s aim to create an on-campus 5G experience centre for its innovation clusters and the development of its 5G use cases and experiences. \u201cWith DNB having delivered 5G coverage to MRANTI Park over the last year, I am hopeful that businesses in the area can now leverage the ultrafast and low latency connectivity to develop new and exciting 5G-enabled products and services,\u201cDNB will continue to support Malaysia\u2019s digital economy aspirations by deploying Malaysia\u2019s 5G network and infrastructure on an accelerated schedule,\u201d said Nasution Mohamed, Chief Operating Officer of DNB. Head of Ericsson Malaysia, Sri Lanka and Bangladesh David H\u00e4gerbro said that Ericsson is delighted to continue the collaboration as it is very important to have a thriving ecosystem for 5G to develop its real potential in Malaysia and drive the country\u2019s digital transformation. With the extension of the MoU, he said that Ericsson will be drawing upon its contribution to 5G ecosystems around the world and bring that expertise to Malaysia for the development of local skills and innovation. \u201cThis initiative will provide the additional boost for Malaysia to leapfrog in the region and be more competitive by preparing it for greater digitalisation and adoption of 5G enabled technologies such as large numbers of connected devices, real time interactions, artificial intelligence and machine learning,\u201cThis MoU extension marks an important milestone in Malaysia\u2019s push towards 5G technology, and the partnership between MRANTI, DNB and Ericsson is expected to accelerate the development of 5G-enabled STIE solutions, driving innovation and growth in various industries,\u201d he added. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Centre (MaGIC), is Malaysia\u2019s central research commercialisation agency that fast-tracks the development of technology innovations from ideas to impact. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialise and scale. DNB is a Minister of Finance Inc. company, mandated to deploy Malaysia\u2019s 5G network and infrastructure on an accelerated schedule. DNB will exclusively own, build and manage the 5G network, and provide wholesale 5G services to licensed service providers, as well as infrastructure and technology services to support and enable businesses and government capabilities. Listed on Nasdaq Stockholm and on Nasdaq New York, Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company\u2019s portfolio spans the following business areas: networks, cloud software and services, enterprise wireless solutions, global communications platform, and technologies and new businesses. New MRANTI Park Master Plan will assist Malaysia in facing Industrial Revolution 4.0, says PM"}, {"url": "https://technode.global/2023/02/27/malaysias-aerodyne-makes-strategic-investment-in-aiviewgroup-in-italy/", "page": 39, "title": "Malaysia\u2019s Aerodyne makes strategic investment in Aiviewgroup in Italy", "contents": "Aerodyne GroupBy joining forces, Aiviewgroup and Aerodyne can harness synergies from both their respective areas of expertise and technologies, and bring it to a wider global audience, both parties said in a statement. According to the statement, the Italian commercial drone software and services market alone is projected to grow to $595 million in 2026, making this partnership a strategic move for Aerodyne\u2019s global expansion and technological advancement. Aiviewgroup brings a wealth of expertise in drone solutions, with a track record of servicing high-profile clients in Italy, especially in infrastructure inspection. This makes them an ideal partner for Aerodyne, enabling the company to leverage Aiviewgroup\u2019s advanced expertise in infrastructure inspection and market access to expand its capabilities and global reach. \u201cWe\u2019re thrilled to welcome Aiviewgroup to Aerodyne. Through this partnership Aiviewgroup will be able to capitalise on the Aerodyne\u2019s deep and proven track record in drone and data technology for nested drone systems and advanced mobility to expand into new markets, including remote autonomous drone-based solutions, and artificial intelligence-powered analytics which offer better value and scope of services to their customers\u201d said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. He added that this partnership marks Aerodyne\u2019s twenty-first global merger and acquisition. Meanwhile, Aiviewgroup Chief Executive Officer Stefano Gennenzi  said partnering with Aerodyne is an exciting opportunity for Aiviewgroup and Aiviewgroup management team will continue to drive the company\u2019s growth. Aiviewgroup General Manager Nicola Marietti said the firm is eager to combine its expertise and local market access with Aerodyne\u2019s global presence and enviable track record of success. \u201cJoining our deep expertise in artificial intelligence and industrial knowledge, we can enhance our drone-based solutions and expand our technology offerings to new markets,\u201cWe believe that the synergies between our companies will enable us to deliver even more value to our customers, and develop the most innovative and effective solutions for their needs,\u201d he added. Aerodyne Group is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enablingThe firm employs over 1,000 drone professionals who operate on an unprecedented level in the UAS services sector, having managed more than 560,000 infrastructure assets with 458,058 flight operations and surveyed over 380,000 km of power infrastructure more than 40 countries globally. Aiviewgroup is the Italian leader in unmanned technology operations that combine safety and efficiency. The firm has an experience of more than 10.000 inspections on major infrastructures. It has a significant order portfolio with enterprise customers with multi-year contracts for end to end solution services, from drone operations to data analysis and certified reporting, which also includes training, fleet management and consultancy. Aiviewgroup, with an average annual revenue growth of 27.82 percent over the last three years is among the European Union companies with the greatest economic expansion, according to the German Institute of Quality (ITQF). Malaysia\u2019s Aerodyne acquires controlling stake in Brazil\u2019s drone inspection company Grupo DR1"}, {"url": "https://technode.global/2023/02/23/malaysia-government-in-talks-with-proton-perodua-to-expedite-production-of-national-evs-report/", "page": 39, "title": "Malaysia government in talks with Proton, Perodua to expedite production of national EVs \u2013 report", "contents": "The International Trade and Industry Ministry (Miti) of Malaysia is discussing with local carmakers Proton and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) on expediting the production of national electric vehicles (EVs) and introduction of affordable EVs, said its minister Tengku Zafrul Tengku Abdul Aziz. The approved permit guidelines are being improved to give flexibility in terms of the maximum number of completely built-up vehicle imports for market research pre-assembly of EVs so that local assemblers have the opportunity to assess the needs of the new market in the EV segment prior to production, national news agency \u201cThis move is also expected to widen the range of EV choices in the market for the people,\u201d Zafrul said in the House of Representatives on Wednesday. Proton, Malaysia\u2019s first national automaker, is 49.9 percent owned by China-based car maker Zhejiang Geely Holding Group. Japan-based car manufacturer Daihatsu is the technological partner of Perodua, Malaysia\u2019s second national carmaker. Daihatsu and Daihatsu (M) Sdn Bhd hold 20 percent and 5 percent stake of Perodua respectively, according to earlier reports. Both local carmakers have yet to produce or introduce EV models in the country. Proton announced Astra Daihatsu Motor, a joint venture between Daihatsu, Astra International and Toyota Tsushohas, has unveiled the Daihatsu Ayla EV Concept at the Gaikindo Indonesia International Auto Show (GIIAS) 2022 in August last year. Earlier on Monday, Deputy International Trade and Industry Minister Liew Chin Tong said Malaysian Green Technology and Climate Change Corporation (MGTC) is currently developing a strategic framework for the development and planning of EV infrastructure across Malaysia. He said the government is also examining the existing procedures for approving the EV charging system to reduce the time in processing the installation approval. Liew also added that under Budget 2022, the government\u2019s incentive covers full exemption on import duty, excise duty and road tax for locally assembled EVs or imported as completely built-up, as well as full exemption for sales tax for EVs assembled locally and tax relief for individuals for subscription of facilities or installation of EV charging systems. \u201cAdditional incentives were also proposed under Budget 2023 and, at the same time, there are proposals to increase the number of EVs including hybrid as official vehicles for departments and positions is being fine-tuned by the Finance Ministry. Besides that, the land public transport vehicles are also encouraged to change to vehicles that use electric,\u201d he added. It was reported last year that the Malaysia government\u2019s target to install up to 10,000 public charging stations for electric vehicles (EVs) in the country by 2025 under the Low Carbon Mobility Blueprint 2021-2030 is on track, with around 700 charging stations nationwide having been set up so far, according to the MITI. The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to build EV charging infrastructure and governments are implementing policies to promote EV industry in a bid to reduce carbon footprint. Fitch Solutions has anticipated that passenger electric vehicle (EV) sales in Malaysia will expand in 2023, albeit from a low base, as a result of the implementation of incentives to encourage adoption. The research house said in a recent report that according to its projections, sales of passenger EVs will rise by 82 percent in 2023, reaching a volume of roughly 5,840 units annually. As more battery electric vehicles (BEVs) are introduced and give consumers more options, it predicted that plug-in hybrid electric vehicles (PHEVs) will lose market share in 2023. \u201cSince predicted good performance in both PHEVs and BEVs promotes EV adoption, we predict that total EV sales as a percentage of total sales will surpass the 1 percent threshold by 2024,\u201d it said. According to an RHB report last month, besides Tesla, existing and forthcoming EV models in Malaysia are mostly from European, South Korea and China-based marques such as Audi, BMW, BYD, Great Wall Motors, Porsche, among others. Malaysian Government drafting strategic framework to develop EV charging infrastructure \u2013 report"}, {"url": "https://technode.global/2023/02/23/100-soonicorns-selects-24-founders-for-its-first-2-cohort/", "page": 39, "title": "100 Soonicorns selects 24 Founders for its first 2 cohort", "contents": "ScaleUp Accelerator Sdn Bhd (ScaleUp Malaysia)Coined from the phrase \u201csoon-to-be unicorns\u201d, Soonicorns are startups with the growth potential to become Unicorns, ScaleUp Malaysia said in a statement on Thursday. The selected Founders are all Chief Executive Officers or C-Level Founders. To participate, invited startups need to have raised at least $1 million from a Venture Capital firm or institutional investor; or have generated $2 million in revenue over the last 12 months. \u201cAs a former startup founder and now partner at ScaleUp Malaysia, I understand the immense value of a strong support network and camaraderie in building a hyper growth company,\u201d said Aaron Sarma, Co-Founder and General Partner at ScaleUp Malaysia. According to him, the 100Soonicorns program not only offers invaluable coaching and mentorship, but also creates a unique space for the selected Founders to connect and build relationships with each other. \u201cThis sense of community and shared experience will be a crucial factor in the success of the program and its participants, \u201cI\u2019m thrilled to be a part of a program that will help create the next generation of unicorns and further strengthen the bonds among the country\u2019s thriving startup community,\u201d he added. Proficeo Chief Evangelist Sivapalan Vivekarajah said that the 24 Founders have had some really engaging discussions where they shared their own experience and challenges regarding the myriad of issues that they face as they grow their companies from the early stage to Series A stage and beyond. \u201cThe program also enables them to engage with other successful Unicorn Founders like Moses Lo the CEO of Xendit who had a session with them to share how he built Xendit into a unicorn, how he raised all his funding from the United States and why he believes Southeast Asia is the next great destination for investors,\u201d he shared. According to the statement, the participants will be engaging with global unicorn founders, venture capitalists, experts from areas that are particularly challenging for founders like talent acquisition and management and will also explore new areas like Artificial Intelligence. All these conversations and discussions offer a unique learning platform between successful Founders and experts. Cohort 3 is now open for applications. Those interested can find more information and the application form here. The participating Founders of the first 2 cohorts are:1\tAmanda Chin, CEO, Ablr Malaysia2\tSharma Lachu, CEO & Founder, Accendo Technologies Sdn Bhd3\tRamachandran Muniandy, CEO & Co-Founder, Asia Mobility Technologies Sdn Bhd4\tGiden Lim, CEO & Co-Founder, BLOOMTHIS Flora Sdn Bhd5\tBenjamin Croc, CEO, Briohr Sdn Bhd6\tAng Xing Xian, CEO, CapBay7\tSharala Devi Balakrishnan, CEO, Center of Applied Data Science (CADS)8\tKuna Kathigesan, Group CEO, Commerce DotAsia Ventures Sdn Bhd9\tLee William, MD, Easybook (M) Sdn Bhd10\tClarence Leong, CEO & Founder, EasyParcel Sdn Bhd11\tSuthan Mookaiah, CEO, GASSTN Sdn Bhd12\tMuhamad Nasir Habizar, CEO & Founder, Govicle Sdn Bhd13\tEffon Khoo, CEO & Founder, Kakitangan. com14\tNadira Yusof, CEO & Founder, Kiddocare Sdn Bhd15\tTunku Danny Nasaifuddin Mudzaffar, CEO & Founder, Microleap PLT16\tAzran Osman Rani, CEO, Naluri Hidup Sdn BHd17\tSwee Wai Hoow, CEO, Newswav Sdn Bhd18\tKeong Chun Chieh, CEO, Ominent Sdn Bhd19\tDr. Kev Lim, CEO, Qmed Asia (QueueMed Healthtech Sdn Bhd)20\tMelvin Chee, CEO, RPG Commerce Sdn Bhd21\tParthiven Shanmugan, CEO, TixCarte Sdn Bhd22\tKendrick Tan, COO & Co-Founder, Virtualtech Frontier Sdn Bhd23\tOoi Boon Sheng, CEO, Web Bytes Sdn Bhd24\tLow Ziwei, Director & Co-Founder, Zcova Sdn BhdScaleUp Malaysia partners Profiiceo to launch 100 Soonicorns"}, {"url": "https://technode.global/2023/02/22/bintang-capital-invests-in-malaysian-marketing-technolgy-firm-involve-asia/", "page": 39, "title": "Malaysia\u2019s Involve Asia raises over $10M in funding round led by Bintang Capital Partners", "contents": "Malaysia-based affiliate marketing platform Involve Asia said in a statement that they are joined by returning globally renowned investors, 500 Global, Orbit Capital Malaysia, and Monumental Productions. As part of Involve\u2019s plans to scale even more rapidly, part of its fundraise will be used to invest in companies that complement its business and leverage its network of clients and partners. In recent years, Involve Asia has established a firm footing with influencers across the region which has driven strong results for advertisers. The company plans to deploy a comprehensive suite of solutions that will increase the avenues for advertisers to leverage on influencers and their highly engaged audience. \u201cWe\u2019ve been growing revenue at 132 percent compound annual growth rate (CAGR) since inception while staying profitable,\u201cDespite the recent economic headwinds facing global markets and the tech sector in particular, there is still room for growth in digital advertising across Asia Pacific (APAC), especially with our performance-led approach,\u201d said Jimmy How, Chief Executive Office and Co-Founder of Involve Asia. \u201cWith the new funding and our strong fundamentals, we aim to expand our product lines and extend our services to new businesses and partners across the region,\u201d he added. Involve Asia President and Co-Founder Rene E. Menezes said that 2022 marked the firm\u2019s second chapter of aggressive growth. \u201cWe\u2019re not sitting around waiting for the global uncertainty to settle. We are in a position to invest and step on the gas while many are focused on consolidation and preserving cash, \u201cA number of industry-changing products are ready to be taken out of beta and will hit the market very soon,\u201d he said. According to him, digital advertising spending in Southeast Asia is expected to grow by 11.3 percent to $4.1 billion in 2022, up from $3.68 billion and at a pace of 12 to 16 percent over the next two years. Additionally, he said companies are increasingly focused on achieving maximum return on investment. \u201cIt was reported that Southeast Asia accounted for one of the highest digital ad spend wastage alone in the first quarter of 2022, amounting to $1 billion, \u201cThere is always a need for high impact, brand advertising but even more opportunity exists for marketers who adopt Involve Asia\u2019s platform with its focus on risk-free, highly effective returns on marketing budgets,\u201d he added. Involve Asia is also expanding the team in line with its aggressive growth plans and hiring across many roles, with almost 50 positions open especially in business development, project management, product and DevOps. Since May 2022, Involve Asia has made a number of senior hires including digital marketing veteran Rene E. Menezes who was appointed President of Involve Asia to spearhead the commercial growth of the organization. The company also recently brought in Melissa Chan, a veteran marketer to lead the entire brand and marketing efforts of the company. \u201cBintang is excited to be investing in Involve, we believe the company is well-positioned within Southeast Asia\u2019s fast-growing\u201cWe are delighted to back an outstanding team that drives positive social impact by providing opportunities for individuals and small-to-medium-sized marketing companies to harness their networks by partnering with global brands,\u201cThis can create new job opportunities and provide economic uplift for individuals in the process,\u201d he added. With an established presence in Southeast Asia, Involve Asia oversees over one million partnerships with over 580,000 website partners, influencers, and affiliates in the region. Over $1.5 billion in sales have been generated with the partnership of our partners and advertisers since its inception. This includes multinationals such as Lazada, Shopee, Grab, Marriott, Malaysia Airlines, Air Asia, Nike, Citibank and over 500 customers across E-commerce, Travel, Finance and Services sectors. Involve Asia is also backed by global venture capital firms such as Accord Ventures, OSK Technology Ventures, and Cradle Seed Ventures. Malaysia marketing tech firm Involve Asia expands to Vietnam"}, {"url": "https://technode.global/2023/02/21/fitch-solutions-sees-malaysias-ev-sales-to-reach-1-of-total-vehicle-sales-by-2024/", "page": 40, "title": "Fitch Solutions sees Malaysia\u2019s EV sales to reach 1 percent of total vehicle sales by 2024", "contents": "Fitch Solutions has on Monday anticipated that passenger electric vehicle (EV) sales in Malaysia will expand in 2023, albeit from a low base, as a result of the implementation of incentives to encourage adoption. The research house said in a report that according to its projections, sales of passenger EVs will rise by 82 percent in 2023, reaching a volume of roughly 5,840 units annually. As more battery electric vehicles (BEVs) are introduced and give consumers more options, it predicted that plug-in hybrid electric vehicles (PHEVs) will lose market share in 2023. \u201cSince predicted good performance in both PHEVs and BEVs promotes EV adoption, we predict that total EV sales as a percentage of total sales will surpass the 1 percent threshold by 2024,\u201d it said. According to the report, Malaysia has unveiled measures to promote and stimulate EV adoption through incentives. A road tax exemption for EVs has now been implemented along with aFurthermore, a 100 percent reduction in import duties on completely built-up EVs lasting up to December 31 2023 has been introduced. It is noted that completely knocked down (CKD) EVs will be eligible for the suspension of duties until December 31 2025 along with sales tax and excise duty exemptions which will further improve the affordability for consumers due to the inherently high taxes on importing vehicles in the country. The report also noted that Volvo Car Malaysia (VCM) has revealed intentions to export automobiles to Vietnam and the Philippines in 2023 in an effort to turn Malaysia into a hub for electric vehicles. With the Swedish brand\u2019s return to the nation (via PT Leading Vision Otomotif), the firm started exporting automobiles to Indonesia in 2022. Meanwhile, Thailand has been on its export list for some time. The XC40 Recharge Pure Electric and C40 Recharge Pure Electric are currently both locally built (CKD) in Shah Alam, Malaysia, with the former debuting first in March 2022 and the latter following in December 2022. Besides, Mercedes-Benz AG has achieved a new milestone in Malaysia in February 2023 with the introduction of its first domestically made EV. At Mercedes-manufacturing Benz\u2019s facility in Pekan, Pahang, the EQS 500 4Matic big car was put together. According to Sagree Sardien, chief executive officer and president of Mercedes-Benz Malaysia, deliveries of the CKD (completely knocked down) EQS 500 4Matic, which stands at the top of the EQ line, will start in March 2023. More EQ models would eventually arrive at the Pekan factory, but Sagree said the next CKD plans hadn\u2019t yet been chosen by the firm. Meanwhile, on January 31, 2023, Proton revealed a draft version of its roadmap, providing an idea of how it intends to move forward. Back in 2021, Proton stated that it will enter the market when the time was appropriate and that it had a planned roadmap for electrification that included hybrid, PHEV, and full BEVs. The report also noted that Ni Hsin EV Tech Sdn Bhd officially unveiled its two TAILG electric motorcycle models in the personal Tailg Ebixon Bold and commercial Tailg Ebixon Torq categories on November 22, 2022, both of which are locally assembled at itsThe BYD Atto 3 and e6 EVs will go on sale in December 2022, with deliveries beginning in Q123. The two EVs are expected to cost between MYR150,000 ($33,500) and MYR170,000 ($38,000). Following the opening of order books and more than 100 bookings on the opening weekend, the Great Wall Motors (GWM) Ora Good Cat electric hatchback has officially launched in Malaysia. The Ora Good Cat is available in Malaysia in two trim levels: 400 Pro and 500 Ultra, with prices starting at MYR139,800 ($31,440) for the 400 Pro and MYR169,800 ($38,200) for the 500 Ultra. Fitch Solutions sees passenger EV sales in Malaysia to expand rapidly in 2023"}, {"url": "https://technode.global/2023/02/21/princeton-digital-to-invest-1b-for-data-center-campus-in-malaysia-and-indonesia/", "page": 40, "title": "Princeton Digital to invest $1B for data center campus in Malaysia and Indonesia", "contents": "Princeton Digital Group (PDG)The firm said in a statement on Monday that it has unveiled its SG+ strategy with the announcement of a 96 MW data center campus in Batam. It said PDG\u2019s SG+ strategy will enable customers to seamlessly expand their infrastructure from Singapore to highly scalable data center campuses in Singapore, Batam and Johor. The announcement of PDG\u2019s data center campus in Batam is the first part of this concerted strategy, where PDG is developing data center sites in Batam and Johor in extension to the company\u2019s operations in Singapore. With an initial investment plan of close to $1 billion, the campus will be built on 15 acres of land in Batam and will comprise four buildings of up to 24 MW capacity each. Power is fully secured for the entire 96 MW capacity. \u201cAs a Singapore-headquartered Pan-Asia data center operator, PDG is at the forefront of enabling customers to continue leveraging the unique set of characteristics that have made Singapore such a successful hub for the region,\u201cOur SG+ strategy is aimed at providing a seamless infrastructure growth roadmap for our customers,\u201d said Rangu Salgame, Chairman and Chief Executive Officer of Princeton Digital Group. He also said the new campus in Batam reinforces the company\u2019s growth strategy and solidifies its already strong presence across the region in China, Singapore, India, Indonesia, and Japan. Batam is an island in Indonesia\u2019s Riau Islands Province, just 20 km south of Singapore. PDG\u2019s campus is located within Nongsa Digital Park (NDP), an integrated digital park in Nongsa on the North-Eastern tip of Batam. In June 2021, the Indonesian Government designated Nongsa as a Special Economic Zone for digital economy and tourism. Nongsa and Batam have been described by Indonesian President Joko Widodo as a \u201cdigital bridge\u201d between Singapore and Indonesia, as the demand for technology talent, sustainable power, land to develop data centers, and capacity continues to grow. \u201cThe climate impact of digital transformation has redefined the way we develop and operate our data centers,\u201cPDG aims to build next-generation, best-in-class green data centers, and we will be working closely with local partners and regulators to incorporate sustainable and renewable energy initiatives to power our Batam data center,\u201d said Asher Ling, Managing Director, Singapore. \u201cFurthermore, we are exploring tropical data center solutions as part of our strategic ESG roadmap towards achieving our net-zero emission goals,\u201d \u201cThis is a very exciting time for data center developers as we develop new standards and create benchmarks in sustainability,\u201d he added. Sustainability is a core business focus for PDG. The company\u2019s sustainability strategy is driven by procurement of renewable energy, energy and resource efficiency, green design and construction and technology and innovation. In the second quarter of 2023, the company will release the second edition of its Sustainability Report. \u201cPDG\u2019s investment into Nongsa underscores the growth opportunities that Southeast Asia offers to companies,\u201cResilient, reliable, and stable infrastructure are key enablers in the digital economy, and PDG\u2019s latest expansion in Nongsa will enhance its capability to meet the growing needs of digital companies seeking to expand in the region,\u201d said Herman Loh, Vice-President & Head, Regional Partnerships, Singapore Economic Development Board. Muhammad Rudi, Chairman of Badan Pengusahaan Batam (BP Batam), Batam Indonesia Free Zone Authority said the firm is happy to work with PDG as they build their 96 MW hyperscale project to provide seamless and stable data center capacity to their customers. \u201cPDG\u2019s investment in Nongsa Digital Park further strengthens the SEZ\u2019s position as a data center hub in the region, \u201cWe look forward to working closely with PDG as the company continues to scale as a Pan-Asia leader in digital infrastructure,\u201d he added. Headquartered in Singapore, PDG is a leader in the Asian hyperscaler market. The company launched its 48 MW data center in Mumbai in December 2022 and is expanding rapidly in Asia with a total capacity of 600 MW across a portfolio of 20 data centers in five key markets. Its 100 MW data center in Saitama, Tokyo, is scheduled for completion in 2024. Singapore Management University signs MOU with Kajima to jointly develop the built environment sector and shape future cities"}, {"url": "https://technode.global/2023/02/20/malaysia-almost-doubles-its-drone-readiness-within-one-year/", "page": 40, "title": "Malaysia almost doubles its drone readiness within one year", "contents": "Malaysia\u2019s drone industry is flying high after ranking 21st in the Drone Readiness Index (DRI), up from 30th spot last year. Malaysian Research Accelerator for Technology and Innovation (MRANTI)The country\u2019s core readiness for drones improved by 29 percentage points in the DRI, as it hit 60 percent \u2013 up from 31 percent the previous year \u2013 a clear indicator of the country\u2019s commitment to fast track its potential in drone technology. This puts the drone industry in Malaysia on a clear growth trajectory with the potential to contribute MYR50.71 billion ($11.45 billion) to the country\u2019s gross domestic product (GDP) and create 100,000 job opportunities by 2030. \u201cOur achievement in the DRI is an early outcome of the Malaysia Drone Technology Action Plan 2022 \u2013 2030 (MDTAP30) and other initiatives which involve strong collaboration by multiple agencies and stakeholders,\u201d said MRANTI Chief Executive Officer Dzuleira Abu Bakar. Dzuleira said the MDTAP30 key missions focuses on the development of a national Unmanned Traffic Management (UTM) system, a digital drone registration portal, special drone use-case adoption in key sectors and talent development such as the accreditation of Remote Pilot Training Organizations (RPTO). The yearly DRI updates which are part of Drone Industry Insights (DII)\u2019s annual Drone Regulation Report, rates participating countries on six parameters: applicability, operational scope, human resources, administrative infrastructure, certification, and airspace integration. The report indicated that countries with the strongest increase in drone readiness are the United Kingdom, Brazil, Switzerland, Taiwan, Japan, South Korea, Malaysia and China. Malaysia achieved a 100 percent rating in applicability, human resources and certification, with areas to improve in operational scope (50 percent readiness), airspace integration (40 percent readiness) and administrative infrastructure (25 percent readiness). MRANTI, which is the coordinating agency and secretariat for MDTAP30, had in 2021 also launched Area57, a centre of excellence to boost the drone industry in Malaysia. When completed, the 6-acre Area57 will have facilities for design and simulation, prototype development and manufacturing, services and maintenance workshops, training, as well as testing and certification equipment. In accelerating the growth of Malaysia\u2019s drone industry, the Ministry of Science, Technology and Innovation (MOSTI) has also created the National Technology and Innovation Sandbox (NTIS). The NTIS focuses on the development and testing of technologies in live environments. Through the NTIS, companies can receive support for financing for commercialization, regulatory assistance and market development. In these regards, 25 drone technology applications have been approved for testing in various Sandbox initiatives. Of these, NTIS has provided about MYR10 million ($2.26 million) in funding to 19 Malaysian drone companies from 2020 to 2022. These drone companies offer solutions for a variety of sectors, with the majority being in agriculture, and medical delivery, infrastructure, security surveillance, and others. In these Sandboxes, drones are being tested for a range of applications, including spraying, mapping, plant analysis, and warehousing, among others. The NTIS receives strong support from 50 Innovation Accelerator Network (IAN) partners, including technology giants, conglomerates, and multinationals, to boost the development of Malaysia\u2019s drone industry. In the Drone Services Providers Ranking 2022, also by DII, Malaysia\u2019s Aerodyne Group and Meraque are ranked in the world\u2019s top 20. Aerodyne , ranked number one, has more than 1,000 employees and has collected over $60 million in funding rounds. MRANTI is the one-stop research commercialisation agency with the resources to accelerate the commercialisation of innovative ideas that will drive impact. As a connector, collaborator and catalyst, MRANTI will connect problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. New MRANTI Park Master Plan will assist Malaysia in facing Industrial Revolution 4.0, says PM"}, {"url": "https://technode.global/2023/02/20/malaysian-government-drafting-strategic-framework-to-develop-ev-charging-infrastructure-report/", "page": 40, "title": "Malaysian Government drafting strategic framework to develop EV charging infrastructure \u2013 report", "contents": "Malaysian Green Technology and Climate Change Corporation (MGTC) is currently developing a strategic framework for the development and planning of Electric Vehicle (EV) infrastructure across Malaysia, said Deputy International Trade and Industry Minister Liew Chin Tong. He said the government is also examining the existing procedures for approving the EV charging system to reduce the time in processing the installation approval, national news agency\u201cMalaysia Automotive, Robotics and IoT Institute (MARii) and the Department of Standards Malaysia are also cooperating in ensuring that the EV technology adopted and developed in the country is uniform, safe and is of quality. \u201cIn efforts to encourage the use of EV and the addition of charging points nationwide, several policy decisions have been determined or implemented including offering tax incentive as announced in Budget 2022,\u201d he said during an oral question-and-answer session in the House of Representatives. He was replying to a question from Jimmy Puah Wee Tse, a member of Parliament, on the policies taken by the International Trade and Industry Ministry (MITI) to encourage the use of EVs as well as the addition of charging points for EVs across Malaysia. It was reported last year that the Malaysia government\u2019s target to install up to 10,000 public charging stations for electric vehicles (EVs) in the country by 2025 under the Low Carbon Mobility Blueprint 2021-2030 is on track, with around 700 charging stations nationwide having been set up so far, according to the MITI. The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to build EV charging infrastructure and governments are implementing policies to promote EV industry in a bid to reduce carbon footprint. Liew also added that under Budget 2022, the government\u2019s incentive covers full exemption on import duty, excise duty and road tax for locally assembled EVs or imported as completely built-up, as well as full exemption for sales tax for EVs assembled locally and tax relief for individuals for subscription of facilities or installation of EV charging systems. \u201cAdditional incentives were also proposed under Budget 2023 and, at the same time, there are proposals to increase the number of EVs including hybrid as official vehicles for departments and positions is being fine-tuned by the Finance Ministry (MoF). Besides that, the land public transport vehicles are also encouraged to change to vehicles that use electric,\u201d he added. Liew said that up to end-2022, there were 902 charging units nationwide, while existing EVs in the country including hybrid amounted to 21,659 units. \u201cThe effects from these initiatives can be seen in the significant increase the demand for EVs. The demand for EV (full battery category) jumped to over 3,400 units last year compared with an average of 300 units annually in the previous years,\u201d he said. Liew stressed that the implementation of these initiatives and new initiatives in the future is expected to further increase the usage of and demand for EVs as well as attract investors to expand the charging points across Malaysia to realise the nation\u2019s target of achieving carbon-neutral status by 2050 as outlined under the 12th Malaysia Plan. Installation of 10,000 EV charging points in Malaysia on track, 700 ready, according to ministry"}, {"url": "https://technode.global/2023/02/17/wellous-dhl-establish-a-sustainability-partnership-to-combat-climate-change/", "page": 40, "title": "Wellous, DHL establish a sustainability partnership to combat climate change", "contents": "Wellous Group LimitedWellous said in a statement that this partnership supports Wellous\u2019 sustainability goal to reduce the carbon emissions of its international shipments by 10 percent year-on-year. \u201cSustainability is the foundation of everything we do today to improve the well-being of our people, our communities and the environment in which we operate. \u201d said Wee Kuan (Andy) Tan, Co-Founder and Chief Executive Officer of Wellous. \u201cInvesting in sustainable solutions is a  priority for us as we constantly seek greener alternatives. Through this strategic partnership, we are addressing our carbon footprint at source and making a positive impact on our value chain, \u201cWe ensure that all our operating businesses continue to strengthen their sustainable practices while integrating ESG principles into their operating procedures,\u201d he added. DHL Express Malaysia and Brunei Managing Director Julian Neo said :\u201dIn recognising the increasing importance that air freight plays in modern logistics, we must also be cognisant of its adverse effects on climate change. \u201d \u201cWe are honoured that Wellous has selected DHL to collaborate on their decarbonisation journey, \u201cTogether, we can be a driving force for sustainable transformation in our respective industries as we develop our processes to be more environmentally responsible than ever,\u201d he added. Wellous\u2019 use of GoGreen Plus applies across its overseas trade lanes, encompassing markets in Asia, North America, Middle East and Oceania. The partnership between Wellous and DHL includes a framework to explore cooperation in other climate neutral initiatives, communications, knowledge-sharing, and community engagement. It comes as part of Wellous\u2019 measures to meet their eco-conscious ambitions. Newly introduced in 2023 by DHL Express, GoGreen Plus enables businesses to efficiently mitigate the environmental impact of their air freight supply chains. This is achieved through carbon insetting, where the release of CO2 and other greenhouse gases is decreased by blending the amount of conventional jet fuel needed with sustainable aviation fuel. In contrast to offsetting, which helps to balance carbon emissions through climate protection projects worldwide, GoGreen Plus provides the option to actively prevent emissions from being generated in the first place during parcel transport. The volume of sustainable aviation fuel committed represents Wellous\u2019 accelerated transition to more clean operations. Sustainable aviation fuel is produced from sustainably-sourced renewable waste and residue raw materials, such as used cooking oil and animal fat. In neat form and over the lifecycle, it significantly cuts emissions by up to 80 percent compared to conventional jet fuel. An independent third-party agency, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale de Surveillance, verifies the reductions, which can be counted towards Scope 3 and Science Based Targets (SBTi). GoGreen Plus is part of Deutsche Post DHL Group\u2019s mid-term sustainability roadmap for 2030 and contributes to the interim of having at least 30 percent of fuel requirements covered by sustainable fuels. In 2022, the group announced two of the largest ever sustainable aviation fuel deals with bp and Neste amounting to more than 800 million litres. It is expected that the strategic partnerships will save approximately two million tons of carbon dioxide emissions over the aviation fuel lifecycle\u2014equivalent to the annual greenhouse gas emissions of 400,000 passenger cars. Wellous is a health food and nutrition company that develops, manufactures, markets and distributes trusted and beneficial health and wellness products. Based in Malaysia, Wellous\u2019 products and services are distributed through its tech-enabled distribution channels. The company has a strong footprint in the Asia-Pacific markets and growing presence in other markets across the world. DHL, a part of Deutsche Post DHL Group, is the leading global brand in the logistics industry. Its DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. Singapore-based Ezyhaul & DHL invest $20M in UK logistics tech startup DigiHaul"}, {"url": "https://technode.global/2023/02/17/malaysias-sunview-partners-huawei-for-renewable-energy/", "page": 40, "title": "Malaysia\u2019s Sunview partners Huawei for renewable energy", "contents": "Sunview Group BerhadSunview said in a statement that its wholly owned subsidiary, Fabulous Sunview Sdn. Bhd. has inked a Memorandum of Understanding (MoU) for a period of 12 months with Huawei Malaysia. The objective of the MoU is to collaborate in the field of renewable energy such as introduction of electric vehicle (EV) charging, microgrid, telecommunications site modernization and energy storage solutions on a non-exclusive basis. Upon entering into a contractual arrangement, Huawei Malaysia will basically act as a technology provider while Sunview would be a strategic fulfilment partner. \u201cSunview is honoured to collaborate with Huawei on the strategic partnership for new development in the renewable energy,\u201cWith the increasing adoption of renewable energy worldwide, the strategic partnership with Huawei comes at an opportune time where Sunview will be able to create more value with the technology from Huawei in assisting more Malaysian companies in the transition to renewable energy usage,\u201d said Sunview Group Berhad Chief Operating Officer and Executive Director Charlie Chow Kian Hung. Huawei Malaysia Vice President of Digital Power Business Group Chong Chern Peng said power production needs to be low carbonised to drive energy revolution for a better and greener future. According to him, the group\u2019s vision is to digitalise traditional energy and this is done by integrating digital technologies and power electronics technologies. \u201cLeveraging our expertise in digital technologies and power electronics, Huawei Digital Power has created all-scenario low-carbon energy solutions, covering the whole energy flow from green power generation to efficient power consumption, \u201cThis includes our FusionSolar Smart PV solution for green power generation, Data Centre Facilities and Site Power facilities for green ICT infrastructure, as well as FusionCharge for green mobility,\u201d he added. Sunview is an investment holding company. Through its subsidiaries, the firm is principally involved in the provision of engineering, procurement, and commissioning of solar photovoltaic (PV) facilities for industrial, commercial, and residential buildings, solar PV and installation services, solar power generation and supply as well as associated products and services to complement the group\u2019s core services. Sunview is registered under Sustainable Energy Development Authority Malaysia as a solar service provider and solar PV investor, certified contractor of Tenaga Nasional Berhad, electrical contractor and Energy Service Company under Suruhanjaya Tenaga and a G7 contractor of the Industry Development Board. Solarvest Borneo inks MOU with CENTEXS and Huawei Malaysia to develop green energy lab"}, {"url": "https://technode.global/2023/02/15/malaysias-solarvest-launches-start-up-program-to-encourage-innovations-in-greentech-fintech-and-renewable-energy/", "page": 40, "title": "Malaysia\u2019s Solarvest launches start-up program to encourage innovations in greentech, FinTech and renewable energy", "contents": "Malaysian clean energy expert Solarvest said in a statement that the programme is a continuance and revitalization to the start-up programme that the group initiated back in October 2021 (SIL 2021). Solarvest Innovation Lab was founded to spur innovation and entrepreneurship developments in Malaysia with a key focus on greentech, fintech, and renewable energy. It aims to attract budding entrepreneurs with revolutionary ideas and to provide the right mentorship coaching, business network and financial support to accelerate the commercialization of these businesses. Under SIL 2023, Solarvest is collaborating with a larger group of strategic partners to further enhance the effectiveness and success factors of start-ups. Joining the notable names of SIL 2021\u2019s partners such as Malaysia Digital Economy Corporation (MDEC), Telekom Malaysia Berhad, and OCBC Bank (Malaysia) Berhad, the new corporate partners under SIL 2023 include Microsoft Malaysia Sdn Bhd as a strategic technology partner; Pitch Platforms Sdn Bhd (pitchIN), an equity crowdfunding platform; Alta Group Malaysia, a digital marketplace for alternative investments and Common Ground Works Sdn Bhd, a provider of coworking spaces in key locations nationwide. \u201cThe new corporate partners under SIL 2023 are market leaders in their respective fields and this will enhance the overall attractiveness, flexibility and diversity of the programme,\u201cTogether, we aim to create an ecosystem that supports start-ups at every growth stage,\u201d said Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong. According to him, SIL 2023 will have a broader and more impactful reach among start-ups, providing a holistic approach to their technical and business needs, capital requirements, and networking opportunities in unlocking the commercial potential of their innovative concepts. \u201d\u201cAs an industry leader in the clean energy space, we aim to unearth revolutionary ideas in these key industries of greentech, fintech and renewable energy which play a crucial role in the clean energy ecosystem, \u201cHence, further pushing the innovation frontier and bridging the gap between new business concepts and marketable solutions,\u201d he added. The start-up programme is composed of two rounds of funding. The seed funding round offers selected candidates RM10,000 to prove a business concept within a six-month time frame. Subsequently, candidates with viable business ideas may participate in the accelerator funding round to potentially receive a capital of RM100,000 to execute their ideas within twelve months. Under Solarvest\u2019s SIL 2021, six candidates were selected under the seed funding round to be offered a grant of MYR10,000 ($2277) each. Meanwhile, the accelerator funding round garnered a positive response of over 50 submissions, of which nine were shortlisted to pitch their ideas to a panel of judges which comprised of representatives from Solarvest and other corporate partners. \u201cIn addition, as we are venturing into a vertical expansion across the clean energy ecosystem, Solarvest may integrate viable business ideas in the development of better solutions that will help increase energy yield and overall efficiencies,\u201d Davis said. Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific. The Malaysia-based company started as a one-stop solar photovoltaic system solutionToday, Solarvest also owns renewable energy generation plants with a cumulative capacity of over 50MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Solarvest Borneo inks MOU with CENTEXS and Huawei Malaysia to develop green energy lab"}, {"url": "https://technode.global/2023/02/14/zetrix-partners-um-and-caict-for-cross-border-blockchain-implementation-research/", "page": 40, "title": "Zetrix partners UM and CAICT for cross-border blockchain implementation research", "contents": "Malaysia\u2019s Blockchain Infrastructure UM and CAICT\u2019s project entitled \u201cResearch on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications\u201d was selected as part of the intergovernmental collaboration between Malaysia and the People\u2019s Republic of China in the field of Science, Technology and Innovation, Zetrix said in a statement on Wednesday. The Chinese government announced the government-to-government (G2G) program, a collaboration between the Chinese government and overseas governments. Initiated by the Ministry of Science and Technology (MOST) of China, Malaysia is one of the 14 countries that are participating in the programme. The China-Malaysia G2G cooperation covers four sectors, including public health (such as vaccine research and development (R&D), artificial intelligence (AI), information and communications technology (ICT) (blockchain, big data, etc. ), as well as space remote sensing technology.    CAICT has chosen UM as a research partner, highlighting it as the tertiary education institution with the best research resources in Malaysia. Additionally, this collaboration can further increase technical expertise and provide both countries with mutual benefits.  The research is proposing a system that could prevent fraud in supply chain processes using Blockchain technology for cross-border trade. The system comprises smart contracts collaboration supported across the multiple parties involved in China trade including the Belt and Road Initiative (BRI) countries. The system should enable all stakeholders to collaborate in cross oganisational information exchanges, all backed by a secure, unalterable audit trail. Wong Thean Soon, the Co-Founder of Zetrix, is confident that the commercialisation blockchain through Zetrix will bring many benefits to Malaysia. \u201cThis strategic cooperation will further strengthen Malaysiaof China trade and investment relations, including through the Regional Comprehensive Economic Partnership (RCEP), which is the main driving force in integrating the regional economy with the use of 4th Industrial Revolution (4IR) technology blockchain, artificial intelligence (AI), internet of things (IoT), as well as cloud computing technology and big data analysis (Big Data). With that, Malaysia will be one of the leading countries in blockchain development,\u201d he said. This project will spur talent exchanges between China and Malaysia, such as sharing knowledge and expertise via study visits and other intellectual exchanges. For human talent development, this project is expected to produce several PhD students from the Malaysian side in multidisciplinary areas. The team members in both countries will jointly hold international conferences to promote the innovative technologies of intelligent healthcare. The successful implementation of the crossborder supply chain traceability blockchain platform will be promoted to countries along the \u201cBelt and Road\u201d, which has important economic benefits. Dr. Saaidal Razalli Azzuhri (Faculty o f Computer Science & IT), the research leader for UM, stated that this project will promote the innovation of science and technology by disseminating it through peer reviewed publications in top rank international conferences. \u201cThis makes the project possible with the synergy of experts and interdisciplinary across faculties (computer sciences, laws, economics, and Institute of China Studies),\u201d he said. Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Its cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a globa based economy. Developed by M Y E. G. Services Bhd, the cross border and cross chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and  Verifiable Credentials (VC). China\u2019s Xinghuo BIF and Malaysia\u2019s Zetrix jointly introduce Web3 Services"}, {"url": "https://technode.global/2023/02/08/malaysias-capital-a-introduces-new-ai-powered-ask-bo-chatbot/", "page": 40, "title": "Malaysia\u2019s Capital A introduces new AI-powered \u2018Ask Bo\u2019 chatbot", "contents": "Capital A BerhadThe company said in a statement that it has bidded farewell to AirAsia Virtual Allstar AVA, who has been the first port of call for guests\u2019 queries and complaints since her onboarding in 2019, and to welcome \u2018Ask Bo\u2019 which has enhanced artificial intelligence (AI) and machine learning (ML) capabilities. \u201cOur guests have spoken, and we are listening and learning. We felt their frustration towards our first AI chatbot \u2013 AVA which was always a work in progress. We recognise she fell short of people\u2019s expectations and we want to do better, \u201cWe thank AVA for her achievements in handling more than 113 million guests since 2019, and handling over 43 million queries in 2020 at the peak of Covid,\u201d said Tony Fernandes, Chief Executive Officer of Capital A. Given the size of the airline that AirAsia is, with thousands of refunds and flight change requests, he recognized that humans alone cannot cope, and the firm has to also use technology. \u201cWe learned through AVA how to use artificial intelligence to answer complex and sizable queries better and faster. Over the last eight months, the customer experience team have zeroed in on what our guests need and want, what their top complaints are, and today we are happy to introduce Ask Bo, named after our airline Group Chief Executive Officern Bo Lingam, \u201cHe has been at my side for the past 21 years and is the go-to person with all answers to our Group\u2019s airline questions,\u201d he added. Meanwhile, AirAsia Aviation Group Chief Executive Officer Bo Lingam said :\u201cI am happy to put my name and my face for this new and enhanced version of our customer concierge service, that promises to be more proactive and attentive. \u201d \u201cLower fares doesn\u2019t mean lower service quality and it is very important to us that our guests feel cared for when they choose to fly with us, for the best fares and the best customer experience, \u201cThe buck stops with me. Ask Bo will make the customer journey easier, simpler, and more informative,\u201d he added. AirAsia Aviation Group Chief Airport and Customer Experience Officer Kesavan Sivanandam said :\u201cMany new exciting features are being added to Ask Bo \u2013 he will be able to provide LIVE updates on flight status (delays, departures) and/or changes and boarding information, in more languages including English, Chinese, Bahasa (BM, Indonesian), Thai, Japanese, Korean and Vietnamese. \u201d\u201cHe will send push notifications on any last minute changes on the day of operations, and give baggage information (tracking, arrival belt, mishandled baggage reports) and report real-time automatic updates of departure timings into the electronic Boarding Pass for our guests\u2019 peace of mind,\u201cOur guests will have more autonomy\u2013 they will be able to change flights, request refunds, choose Service recovery options. By March, our guests will also be able to talk live to our human agents, during the Ask Bo interaction. We will continue to innovate to ensure the highest standards of customer care in all that we do to best meet our guests requirements,\u201d he added. In a bid to be more open and transparent, Capital A will reveal live information on On-time Performance, as well as baggage handling information on its website and its Super App. It has also vowed to continue to review guests\u2019 feedback from various perspectives across the Group, support cross departmental collaboration and adoption of customer experience programmes into different business entities, while ensuring that leaders lend their full support in the successful implementation of CX enhancement initiatives. Capital A launches airasia gifts with South Korea\u2019s COOP Marketing Groupon for airasia super app"}, {"url": "https://technode.global/2023/02/03/grab-appoints-adelene-foo-as-managing-director-of-grab-malaysia/", "page": 40, "title": "Grab appoints Adelene Foo as Managing Director of Grab Malaysia", "contents": "GrabGrab said in a statement that in her role, Foo will oversee the business strategy and operations of Grab\u2019s businesses in Malaysia. A ten-year veteran at Grab, she was previously the Country Head in Malaysia between 2012-2014 before moving on to regional roles, most recently the Regional Head of Merchants & Regional Head of GrabExpress as well as newly appointed Chief Executive Officer of Jaya Grocer. She succeeds Sean Goh, who assumes the position of Regional Head of Deliveries and Mobility. With her deep experience in setting up the local team and meeting daily needs of people in Malaysia, Foo will help to continue to grow the Mobility, Deliveries, on-demand groceries as well as accelerate the growth of the GrabFin to continue to become the stronger service player in Malaysia. \u201cGrab has evolved tremendously over the past 10 years as we have introduced new services and features in our superapp. We are now more focused than ever on building amazing products and services for our customers, using tech for the good of the Malaysian community to help them earn, ride, eat, shop and access financial services,\u201cAdelene\u2019s proven credentials and entrepreneurial spirit in scaling and growing Grab across Southeast Asia fits perfectly for this next phase of growth for Grab in Malaysia and I\u2019m so excited to welcome her back to the country leadership team,\u201d said Russell Cohen, Group Managing Director of Operations at Grab. Foo brings to Grab Malaysia a track record of launching and scaling various Grab business regionally that contributes to positive and long term impact on local communities. This comes with a keen understanding of local conditions that leads to hyperlocal Grab services that truly address users\u2019 needs. Foo will continue to lead Jaya Grocer, as Chief Executive Officer, realising synergies across Jaya Grocer and the Grab ecosystem for a seamless experience for Jaya customers and bring the convenience of on-demand grocery delivery to more consumers in Malaysia. Prior to joining Grab, Foo was a consultant with Accenture Management Consulting, as part of the CRM (Customer Relationship Management) practice. \u201cI am excited and honoured to be tasked once again to lead Malaysia. The team has made impressive strides over the years; we are a leading superapp that addresses the daily needs of Malaysians,\u201d said Adelene Foo, the new Managing Director of Grab Malaysia. \u201cGrab is committed to the long-term development of Malaysia. I look forward to working with the team to focus on introducing more affordable access to the best of our platform, create more earning opportunities for our partners, help more micro-entrepreneurs digitise and grow, and train more talent to support Malaysia\u2019s growth in the digital economy,\u201d she added. Grab appoints Philipp Kandal as Chief Product Officer"}, {"url": "https://technode.global/2023/02/03/southeast-asias-used-motorcycle-platform-imotorbike-targets-20m-revenue-in-2023/", "page": 41, "title": "Southeast Asia\u2019s used motorcycle platform iMotorbike targets $20M revenue in 2023", "contents": "Southeast Asia\u2019s used motorcycle platform \u201cWe clocked $2.5 million (MYR10.5 million) revenue \u2013 in 2022. We are gross profitable at every single motorbike sold,\u201d its Chief Executive Officer and Co-Founder Gil Carmo told According to him, iMotorbike has seen a 20 percent increase in quarterly sales in the pre-loved motorcycle market this year. \u201cOur site has over 150,000 monthly visitors and 5,000 registered dealers from across Southeast Asia where we operate,\u201d he added. iMotorbike is Southeast Asia\u2019s pioneering e-commerce platform for buying and selling motorbikes. iMotorbike said it offers a fast, secure, and hassle-free online experience with 170 inspection checkpoints, a 100 percent money-back guarantee return policy, warranty, nationwide delivery and a bundle of finance, road tax and insurance. Headquartered in Singapore and have a growing presence in Malaysia and Vietnam, it said its mission is to address four pain points associated with buying and selling pre-loved motorbikes: reliability, transparency, market fragmentation, and time consumption. Today, iMotorbike is in six locations across Malaysia and Vietnam. The company plans to move into more tier-2 markets in Malaysia with its inspection centers and into other countries. \u201cIn 2023, we aim to have 30 inspection centres spread out into more towns and cities across the country. This includes showrooms which will bring us closer to the consumer, helping them buy and sell their bikes to iMotorbike. More hubs means better reach, as we transport the bikes flexibility and it decreases the cost for the customers,\u201d Carmo said. iMotorbike, which plans to raise its Series A funding round, has raised a total of $1.6 million in funding over seven rounds, according to data platform Crunchbase. Their latest funding was raised on Sep 3, 2021 from a Seed round. \u201cWe have been part of accelerator programs from US and China. When we were in the classifieds, we raised some money and then again once we pivoted to this current business model, and now we\u2019re going for our Series A,\u201d Carmo said. \u201cWe had the angel seed round first, preseed, and then we had a continuation of that for this new business model and right now we\u2019re doing our series A. Up till today, we raised close to $1.6/1.7 million. So we\u2019re doing a $3 million to $5 million round and we\u2019re also doing equity and debt finance,\u201d he added. iMotorbike counts SOSV, The Hive Southeast Asia, 500 Global, Alto Partners Multi-Family Office among its investors, according to Crunchbase. In the interview, Carmo also shared iMotorbike\u2019s plans in 2023, and the outlook of the motorbike market, among others. Below are the edited excerpts:Our site has over 150,000 monthly visitors and 5,000 registered dealers from across Southeast Asia where we operate. iMotorbike has seen a 20 percent increase in quarterly sales in the pre-loved motorcycle market this year. Our site has over 150,000 monthly visitors and 5,000 registered dealers from across Southeast Asia where we operate. We\u2019ve learnt since we started this business that the more bikes we purchase, the more bikes we sell and it\u2019s really really fast and there\u2019s no greater magic to it. Two-wheelers remain a viable, low-maintenance option for many commuters, e-commerce riders and micro tourism operators, amongst others. According to the Federation of Asian Motorcycle Industries, new motorcycle purchases in Malaysia to-date have hit 501,587 units, already surpassing last year\u2019s total of 499,175 motorcycles. There are an estimated 16 million registered motorbikes in Malaysia currently. We recognise that owning new motorcycles may be financially steep for some, and as such, iMotorbike offers affordable pre-loved motorbikes (with the same benefits of a new bike) \u2013 including in the B2 category \u2013 with guaranteed quality as all bikes have undergone and passed a minimum 170-point inspection. Motorbikes purchased through iMotorbike also include a 6-day return policy and 6 months warranty \u2013 which gives peace of mind to buyers. The process is also fast, secure and simple as we also offer insurance & roadtax service. The more motorbikes we buy, the more we can sell. We offer buyers and sellers a process that is hassle free, convenient, professional, trustworthy and credible. Sellers get cash on the spot upon inspection which takes 20 \u2013 30 mins max. iMotorbike appeals to the masses \u2013 everyone can own a bike, everyone who owns a bike \u2013 small, big, new, old, young, etc \u2013 can connect with us. We trade any type of motorbike.1) TechnologyB \u2013 Inventory management enhancementC \u2013 Expanded website functionality 2) GeographyIn 2023, we aim to have 30 inspection centers spread out into more towns and cities across the country. This includes showrooms which will bring us closer to the consumer, helping them buy and sell their bikes to iMotorbike. More hubs means better reach, as we transport the bikes flexibility and it decreases the cost for the customers. \u25cf More and more sellers are seeing the value of the clear process, easy experience of selling their motorcycles to us, we have even experienced customers coming all the way from Johor or Terengganu just to get their bikes inspected and sold to us. On top of this, we provide a super experience in buying from us as buyers have peace of mind that our post purchase policies provide. Buying via iMotorbike becomes a no brainer. \u25cf Most popular bike models traded are still the \u201ccapchai\u201d from Yamaha and Honda. (RS150 & Y15) \u2013 Scooters are popular too\u25cf Largest age group of sellers / buyers: ranges from 18 to 45 years old1)It\u2019s financially efficient. Motorbikes present an affordable alternative \u2013 for the same level / distance in commute, you would be spending MYR16 vs car MYR300 to fuel up. Insurance is 10 to 20X cheaper. This is especially attractive for first time vehicle owners \u2013 who want to have their first asset \u2013 affordably2) It\u2019s energy efficient.3) It\u2019s time and space efficient.4) It\u2019s a great avenue for added incomeWe hope the government will review a subsidy to allow more people to mobilise for such work quickly and affordably to generate side income. More than 47,000 new Class B2 licences are expected to be obtained each year and enabling a segment of the market to hop into this new sector will help alleviate financial burdens. As a startup, how are you gearing up for 2023?We have been managing cash to the point that we were told that we are \u201ctoo cash efficient\u201d, we care about every single dollar spend and harvest more than growth at all costs. What are the interesting differences \u2014 buyers/sellers habits, supply/demand, procedures/protocols \u2014 you\u2019ve seen between the Malaysian market and the Vietnamese market?a) Roads & Regulations:Vietnam also has traffic regulation systems that enforce on the rider a much more cautious commuting approach. That single factor makes motorcycle riders in Vietnam move at low speed and thus the motorcycles are less mechanically exerted compared to the ones in Malaysia. b) Ownership:c) Average kilometres made per year by an average motorcycle user:d) Vehicle ownership transfers:e) Perception:The market we are addressing is huge, and today we are the only player in Southeast Asia addressing it, although similar successful models exist in other parts of the world ie Mundimoto, Ozon, Credr, Beepkart. I believe there\u2019s room for several players to grow in this ecosystem and take it to the next level, while expanding and the market and making it exciting businesses. Based on today\u2019s data, there\u2019s no single company in the line of automotive that also does motorcycles as trade, as there is huge competition in that space and with so much to do, it is unlikely that they would venture into this space. That said, they would be in a better position to address the question than we are. While in theory it seems like a similar business but in reality, it has a different target audience, and requires different operational capabilities and skills in marketing and sales \u2013 and stepping in to this space may mean spreading themselves thin and possibly compromising their core focus altogether. We have been part of accelerator programs from US and China. When we were in the classifieds, we raised some money and then again once we pivoted to this current business model, and now we\u2019re going for our Series A. We had the angel seed round first, preseed, and then we had a continuation of that for this new business model and right now we\u2019re doing our series A. Carsome expands Malaysia-based regional headquarters"}, {"url": "https://technode.global/2023/02/02/gobi-partners-onboards-malaysian-startups-durioo-lapasar-paywatch-and-pitchin-to-the-gobi-superseed-ii-fund/", "page": 41, "title": "Gobi Partners onboards Malaysian startups Durioo+, Lapasar, Paywatch and pitchIN to the Gobi Superseed II Fund", "contents": "Gobi PartnersGobi said in a statement that the four firms being onboarded are Islamic-themed streaming service Durioo+, e-commerce marketplace Lapasar, earned wage access provider Paywatch and online investing platform pitchIN. All four companies have been identified as leaders in their respective fields and have the capability to scale up and bring sizeable returns to the Malaysian economy. Gobi Managing Partner (Malaysia) Jamaludin Bujang is excited to welcome the new portfolios to the Gobi family and to also help guide them through the expected economic headwinds this year. \u201cWe are continuing our efforts to help spur the growth of entrepreneurs, especially startups and small and medium enterprises (SMEs), in the local ecosystem during a challenging time for the Malaysian economy, as evidenced by our latest investment into these four companies under the Gobi SSII Fund,\u201d he said. \u201cThe tough situations faced by startups do in a way, act as a natural filter for us to choose the best companies. Because of this, we were able to identify and then invest in Durioo+, Lapasar, Paywatch and pitchIN who have not only successfully adjusted themselves to remain relevant to their markets but have also thrived and strengthened their respective positions,\u201d he added. Durioo+Islamic-themed streaming service Durioo+, which is subscription-based and accessible on smart devices and appliances, was launched in February 2022 to showcase high-quality Islamic and kid-friendly content. The streaming platform showcases Durioo+ Originals, high-quality Islamic cartoons and kid-friendly content from around the world. In ten months, the platform has gained over 20,000 subscribed users and is airing more than 1,600 episodes of content thus far. Harnessing more than a decade\u2019s worth of experience leading Digital Durian, the publisher of Didi & Friends and Omar & Hana, Durioo+ Founder, Sinan Ismail wants to build a platform that produces content for Muslim children and educational mobile games that teach Islamic values. \u201cThere are over 400 million Muslim children around the world, but there are too few high-quality Islamic animations and games, that children love to watch and play. What we want to do is instil good values and virtues through the lens of a Muslim,\u201d he said. In the next five years, the company plan is to enter the global market \u2013 specifically the United States, the United Kingdom, Middle East and North Africa (MENA), Indonesia, Europe and South Asia countries. Durioo+ aims to collaborate with other local and foreign animation studios, production houses and game companies to produce more content and games. LapasarLaunched in 2018, the business-to-business e-commerce marketplace Lapasar focuses on the distribution of fast-moving consumer goods (FMCG) for general trade. It has served over 10,000 small and medium-sized enterprises (SMEs) throughout the country through its own warehousing, distribution and financial services capabilities. Although Lapasar transformed into a wholesale procurement platform for small retailers only in June 2020, it grew 172 percent year-on-year in 2021 and above 100 times since its first funding round. The aim, Lapasar Founder and Chief Executive Officer (CEO) Thinesh Kumar said is to become the largest wholesale platform in Malaysia by 2026. \u201cWe aim to be the go-to mobile app for retailers to source and buy their FMCG goods at consistently low prices, delivered within 48 hours for free, \u201cLapasar is also beginning to explore lines of credits with partners for the shops which has shown early promise and will continue to expand on that as well,\u201d he said. PaywatchWith the growing demand for earned wage access (EWA) in Asia, Paywatch has established itself as the leading earned wage access (EWA) solution that helps employees bridge cash flow gaps between paychecks. As the only EWA solution that is partnered with top-tier banks, Paywatch also fosters financial inclusion by helping unbanked and underbanked Malaysian workers gain access to the banking system. Paywatch is the only EWA solution of its kind in Asia and has been recognised by the UN Capital Development Fund, Bank Negara Malaysia, and Malaysia Digital Economy Corporation (MDEC) for its financial inclusion efforts. Moreover, Paywatch is the only EWA solution that has been licensed and is recognised by regulators in its operating markets. Its EWA service is being trusted and widely adopted by notable companies in Malaysia such as Lotus\u2019s, KFC, Pizza Hut, QSR Brands, Wilmar and Kenny Hills Bakers. \u201cPaywatch aims to promote financial inclusion by helping workers achieve financial security and gain access to major banks. Employees that feel financially empowered and safeguarded by their employers have also shown a higher retention rate, contributing to better service and lower turnover rates in organisations,\u201cWe are proud of what we have achieved since our launch in 2020, and are looking forward to expanding our services and adding more benefits to the platform in order to provide more holistic financial solutions to an underserved segment,\u201d said Paywatch Co-Founder and Chief Technology Officer Patrick Hew. To date, Paywatch continues to grow its product offerings and strengthen its presence in existing markets Malaysia, South Korea and Hong Kong, while also accelerating expansion efforts into new Southeast Asian markets, including Indonesia and the Philippines. pitchINOnline investing platform pitchIN has, since its inception in 2016, raised in excess of $65 million (RM280 million) on its equity crowdfunding (ECF) platform from over 7,600 individual investments made by retail and sophisticated investors to help fund 154 of Malaysia\u2019s fast- growing companies. PitchIN will launch its Secondary Market and Initial Exchange Offering (IEO) platforms this year following approval from the Securities Commission Malaysia (SC) in 2022. It also received approval from SC to list Shariah-compliant campaigns on the ECF platform. PitchIN Chief Executive Officer Sam Shafie said that the company had been preparing to grow into a digital investments fintech hub with multiple offerings\u201cWe believe that IEO and the pitchIN Secondary Market will enable pitchIN to offer more fundraising options as well as add liquidity options for investors,\u201cThat said, the upcoming Secondary Market and IEO are just the first on our roadmap. We look forward to launching even more services soon, not just in Malaysia but also regionally in countries such as Indonesia, the Philippines and Vietnam,\u201d he added. The Gobi SSII Fund targets early-stage (Seed, Series Pre-A and Series A) technology-enabled local startups operating in segments such as artificial intelligence, big data, cloud, e-commerce, FinTech, Internet of Things and Halal economy. Aside from the new additions, the fund has since its launch in late 2020 invested in four other Malaysian startups namely Sunway Innovation Labs, TechNode, Speedhome and PolicyStreet. Ethis Group and Gobi Partners to debut Shariah-compliant $20M seed fund"}, {"url": "https://technode.global/2023/02/01/malaysias-wellous-appoints-lee-koon-tan-as-group-president/", "page": 41, "title": "Malaysia\u2019s Wellous appoints Lee Koon Tan as group president", "contents": "Wellous Group LimitedWellous said in a statement that it has appointed Lee Koon Tan as the group\u2019s president. According to the statement, Tan brings decades of experience as a corporate leader. In this role, Tan will oversee and drive the company\u2019s transformational initiatives and expansion plans. He is responsible for corporate development activities, including strategic partnerships and investment opportunities. Previously, Tan held leadership roles across various companies in the Hong Leong Group, a leading Southeast Asia conglomerate with portfolio companies in financial services, manufacturing, real estate and consumer goods. He is also a CFA Charterholder. Wellous also announced the appointment of Jorrine Ang as chief financial officer, effective from December 2022. Ang has over 10 years of experience in senior management roles of public companies listed on the Bursa Malaysia Stock Exchange, where she was responsible for the formulation and implementation of corporate strategies as well as overseeing corporate finance, fund raising, and investment management. Prior to joining Wellous, Ang founded and ran her own advisory practice, providing pre-initial public offering (IPO) advisory, capital fund raising, mergers and acquisitions and corporate restructuring services for corporate clients. She completed an ACCA (the Association of Chartered Certified Accountants) and holds a Master\u2019s Degree in Business Administration from the University of Portsmouth, United Kingdom. \u201cLee Koon and Jorrine are both highly accomplished, seasoned professionals and exceptional leaders,\u201d said Wee Kuan (Andy) Tan, Co-Founder and Chief Executive Officer of Wellous. \u201cI am confident they will help to drive Wellous forward at this important time as we transition to a public company. Their considerable experience and demonstrated excellence make them the right choice for Wellous,\u201d he added. Meanwhile, Wellous Co-Founder and Chairman Henry Chin said :\u201cWe look forward to working closely with Lee Koon and Jorrine to better develop the markets we serve and deliver more value for our customers, partners, employees and shareholders. \u201d \u201cWith these key leadership changes, we believe this better positions Wellous to realize our full potential,\u201d he added. On December 13, Wellous announced that it had entered into a definitive business combination agreement with Kairous Acquisition Corp. Limited, a special purpose acquisition company (Kairous), that, if and when approved by the shareholders of Kairous, will result in Wellous becoming a publicly listed company on Nasdaq upon the closing of the proposed transaction. Founded in 2016, Wellous is a health food and nutrition company that develops, manufactures, markets and distributes trusted and beneficial health and wellness products. With a strong and growing presence across the Asia Pacific region, the company offers only the best of nature, the most precious ingredients from a wide sourcing network. The firm\u2019s products and services are distributed through its tech-enabled distribution channels. It has a strong footprint in the Asia-Pacific markets and growing presence in other markets across the world. Having introduced over a dozen product series to the market using premium raw materials, the upcoming listing will be a key milestone in the company\u2019s further expansion across the world. Malaysia HealthTech startup BookDoc partners with Childhope Philippines Foundation for CSR collaboration"}, {"url": "https://technode.global/2023/01/30/shopees-parent-firm-sea-to-increase-investment-in-malaysia/", "page": 41, "title": "Shopee\u2019s parent firm Sea to increase investment in Malaysia", "contents": "Sea LtdThe Ministry of International Trade and Industry (MITI) of Malaysia said in a statement that Sea\u2019s proposed expansion plans in Malaysia involving the setting up of cloudservices, data hosting and processing, as well as new logistics e-commerce warehouse.   The cloud computing project will be located in a three-storey green facility in Kulai, Johor, with 24 data hall suites, M&E rooms, office space, as well as storage and parking facilities, targeted to be completed by the first quarter of 2024. Additionally, its Shopeee-commerce platform will also expand its footprint in Malaysia through a newly-constructed mega warehouse located at Bukit Raja, Klang. The two-storey,1.4-million square-foot warehouse is an integrated hi-tech logistics park equipped with cloud infrastructure. The warehouse will be among the biggest logistics warehouses in Malaysia. Both projects are expected to create more than 2,000 direct job opportunities. Sea operates three core business across digital entertainment, e-commerce, as well as digital payments and financial services known as Garena, Shopee, and SeaMonday.  Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. The investment decision for SEA was shared with the Minister of International Trade and Industry Zafrul Abdul Aziz, during his visit to Sea, where Shopee\u2019s headquarters is also located. The Minister\u2019s three-day investment mission is in conjunction with Malaysian Prime Minister Anwar Ibrahim\u2019s first official visit to Singapore on January 30. As one of Malaysia\u2019s top foreign direct investment sources,the Prime Minister and Minister\u2019s working visits to Singapore are of paramount importance to Malaysia\u2019s continuous efforts to attract high quality foreign direct investments(FDIs)into the country, a portfolio led by the MITI and its agency the Malaysian Investment Development Authority (MIDA). \u201cSEA Limited\u2019s decision to expand its investment footprint in Malaysia clearly reflects its confidence in the prospects, as well as the operational and policy stability of Malaysia\u2019s business landscape,\u201d said Zafrul.  According to him, Sea planned FDI in cloud computing and hi-tech warehousing are set to create 2,000 new jobs for Malaysians which will also help the country upskill its human capital, while enhancing national productivity and competitiveness in the long run. \u201cWe are also expecting positive spillover effects for our small and medium-szied enterprises (SMEs), corporates and the surrounding local communities. This includes local sourcing, vendor development and the strengthening of local industrial ecosystem particularly in the digital space,\u201cMITI and its related agencies will continue to enhance the nation\u2019s business ecosystem toward ensuring that Malaysia will always be perceived as pro-business, pro-investment and pro-trade,\u201d he added. Meanwhile, Sea Co-Founder and Group Chief Operating Officer YeGang said this is a significant development not just for Sea but for the local digital ecosystem.  \u201cOur aim is to enable and support the growth of the overall ecosystem, empowering more players to benefit from the opportunities that this [investment] will create,\u201cWe are also committed to supporting the creation of more employment opportunities that will drive Malaysia\u2019s economic growth,\u201d he added.  To date, Singapore is the second largest investor in the manufacturing sector in Malaysia with a total of 3,475 manufacturing projects in operation with investment amounting to MYR96.36 billion ($25.4 billion). Sea Ltd\u2019s top management to forgo salaries as firm cuts cost \u2013 report"}, {"url": "https://technode.global/2023/01/26/whyq-secures-1-08m-in-extended-series-a2-funding-round-led-by-kairos-capital/", "page": 41, "title": "WhyQ secures $1.08M in extended Series A2 funding round led by Kairos Capital", "contents": "WhyQThe extended round was led by the Kairos FoodTech Fund of Kairos Capital Group, WhyQ said in a statement. The initial Series A2 round of MYR11.8 million ($2.78 million) closed in 2021 and included Delivery Hero, Chope, Angel Central, and RB Investments. With this additional funding from the extended Series A2 Round, WhyQ plans to continue expanding its digitalization platform and supporting the growth of small businesses in Singapore and Malaysia. WhyQ will focus on improving their existing products and developing new ones to help small businesses better compete in the digital economy. As part of its planned project trajectory in 2023, WhyQ plans to add more features to the eBiz app, such as customisable templates for online storefronts and integrations with popular e-commerce platforms like Shopee and Lazada. The firm also plans to partner with more logistics providers and payment gateways to give small businesses even more options for fulfilling orders and accepting payments. Additionally, it plans to enhance their digital bookkeeping app with new features such as automatic sales and expense categorizations, inventory management, and bill payments. The firm will also continue to expand its network of lending partners to provide more options for small businesses seeking low-interest and quick loans. It will also strengthen the digital payment infrastructure for MSMEs by offering a wide range of payment solutions that solve the needs of merchants as they go digital. Overall, WhyQ\u2019s goal is to provide small businesses with the tools and support they need to thrive in the digital world. \u201cCollaborating closely with hawkers in Singapore for the past five years has allowed us to understand the challenges that small business owners face when it comes to digitalization,\u201d said Varun Saraf, Chief Executive Officer and Co-Founder of WhyQ. \u201cLeveraging on our experience partnering with small-scale food and beverage (F&B) owner-operators like hawkers, we would like to extend our expertise to now help small business owners in Malaysia to digitalise properly, with simple and free products, \u201cWith key backers and partners such as Kairos, Delivery Hero, Ant Group, Chope, we are in a strong position to lead in the region,\u201d he added. WhyQ started as a hawker food delivery service in 2017, and grew to become the largest MSME-focused food delivery platform in Singapore. The firm has since added products to build a digital infrastructure for MSMEs \u2013 enabling them to sell and grow their business online, and helping them with digital bookkeeping and microfinancing. WhyQ currently powers over 20,000 small businesses in Singapore and Malaysia by providing them with the tools they need to succeed in the digital world. The firm offers two free products: an eBiz app (WhyQ EBiz) and a digital bookkeeping app (WhyQ Kira Kira). The eBiz app enables micro, small and medium-sized enterprises (MSMEs) to create their own online storefronts, connect with popular marketplaces like Foodpanda, accept online payments, and connect with logistics services like Lalamove \u2013 all within 60 seconds. This makes it easy for micro, small and medium-sized enterprises (MSMEs) to set up a digital presence quickly and easily and start selling online. The digital bookkeeping app, Kira Kira, on the other hand, allows small businesses to track their daily transactions, manage their accounts, and apply for low-interest loans from partners such as Funding Societies. This makes it easy for businesses to stay on top of their finances and access the funding they need to grow. \u201cSmall and medium-sized enterprises (SMEs) are the economic backbone of Southeast Asia, accounting for more than 90 percent of all companies and are the primary drivers of social mobility. The pandemic has increased demand for more adoption and integration of digital technology among SMEs, \u201cHowever, many SMEs face numerous barriers to adopting technology at a critical time of need. WhyQ is well positioned to help SMEs with their digitalisation challenges, by providing the digital infrastructure and tools to close the digital divide for merchants in SEA,\u201d said Eric Cheong, Co-Founder and Managing Partner of Kairos Capital Group. \u201cKairos Capital is excited to work closely with the WhyQ team in driving the digital transformation agenda for SMEs in SEA forward, creating an economic wave to uplift the livelihoods and resilience of small business owners and merchants in an increasingly competitive online commerce environment,\u201d he added. Rishabh Singhvi, Chief Operating Officer and Co-Founder of WhyQ, said :\u201dIn Malaysia, small businesses play a crucial role in both the economy and culture. However, they often struggle to find products that cater to their specific needs. This problem has intensified since the pandemic, making it more important than ever for small businesses to adapt to the online world of commerce. \u201d\u201cWhyQ is dedicated to helping merchants do just that, and we are already one of the market leaders in Malaysia. We are closing the digital gap for tens of thousands of merchants and paving the way for a more comprehensive and accessible digital infrastructure,\u201d he added. SEA food delivery platforms total GMV grows 5% y-o-y to $16.3B in 2022"}, {"url": "https://technode.global/2023/01/20/mystartup-dnb-announce-winners-for-mystartup-hackathon-2022/", "page": 41, "title": "MYStartup, DNB announce winners for MYStartup Hackathon 2022", "contents": "MYStartup, a Malaysian government initiative powered by Cradle Fund Sdn Bhd. (Cradle), in partnership with Digital Nasional Berhad (DNB), has on Wednesday announced the winners for the recently concluded MYStartup Hackathon 2022. This year\u2019s Hackathon saw DNB issuing three problem statements which participants were then tasked to create solutions for, MYStartup said in a statement. The winning teams are each receiving an MYR10,000 ($2329) cash prize from MYStartup and a chance to present their solutions in more detail to DNB. Cradle Senior Vice President of Ecosystem Development Ahmad Kashfi Alwi said MYStartup registered an encouraging 111 applicants for the Hackathon with diverse expertise and backgrounds. \u201cWe have the privilege of hearing from some of the brightest minds in the field, who have been working hard to develop cutting-edge solutions using 5G technology to tackle the problem statements of this hackathon,\u201d he said. The programme which commenced on January 6 came to a close on January 14 after a series of intensive masterclasses, one-on-one mentoring sessions, and boot camp as preparation for finale. Three winners were selected based on relevant judging criteria and viability of ideas that\u201cThe winners ingenuity and out-of-the-box thinking was crucial in solving the three problem statementsMYStartup Hackathon X DNB is a programme under the MYStartup initiatives in partnership with DNB. MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) and powered by Cradle. It consists of several programmes which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. The programmes aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and opportunity to highlight their company profile to attract foreign investors. The MYStartup Programme is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. This effort is also in tandem with MOSTI\u2019s target of creating 5,000 start-ups and producing five unicorn status companies by 2025. MYStartup partners DNB to solve corporate problems through MYStartup Hackathon 2022"}, {"url": "https://technode.global/2023/01/18/touch-n-go-partners-visa-to-launch-touch-n-go-visa-prepaid-card-in-malaysia/", "page": 41, "title": "Touch \u2018n Go partners Visa to launch Touch \u2018n Go Visa prepaid card in Malaysia", "contents": "Touch \u2018n Go GroupTouch \u2018n Go said in a statement on Wednesday that the Touch \u2018n Go eWallet\u2019s CSR-linked Visa card is the first numberless card in Malaysia, providing stronger privacy with enhanced card security controls. With this card acting as a complementary payment channel to the eWallet, users will be able to make payments even at merchants who do not have a Duitnow QR code. The card also permits users to withdraw cash at automated teller machines (ATMs) and perform online and offline payments internationally. Users can also opt for flexible payment settings via the Touch \u2018n Go eWallet app. It is noted that the design of the new Visa card incorporates the artwork by Damien Wong, a talented artist from United Voice who was diagnosed with autism at a young age. The painting, consisting mainly of splashes of colours in blue, green, and yellow, depicts Damien\u2019s view of the world \u2013 \u201cIn my eyes, this is how the world looks like to me, a splash of colours\u201d. The proceeds from the group\u2019s purchase of this painting go directly to Damien. According to Touch \u2018n Go, for every card applied, MYR2 ($0.46) will be donated to United Voice. The proceeds will be used by United Voice to run projects to drive new employment opportunities by upskilling, training, and educating people with learning disabilities. This initiative is a further extension of the group\u2019s long-term collaboration with United Voice, which started in September 2022 with the purchase of ten paintings from United Voice artists. The paintings were incorporated on specially designed enhanced Touch \u2018n Go cards, with the aim of profiling the talented artists while raising funds for United Voice. \u201cWe are pleased to continue our collaboration with United Voice, with the purpose of creating awareness for their cause and empowering those with learning disabilities to develop the necessary skills which will help them live independently,\u201d said Alan Ni, Chief Executive Officer of TNG Digital Sdn Bhd. According to him, this initiative is also aligned with the group\u2019s commitment towards championing inclusivity in line with its sustainability pillar of Treating People Fairly. \u201cTogether with Visa, we have integrated innovation and advanced technology to deliver enterprise grade security and features for this Visa card. At the same time, it is also the first-of-its-kind CSR-linked Visa card in Malaysia, \u201cWith all the features incorporated in this card, Touch \u2018n Go eWallet is now able to offer all the services equivalent to an alternative bank to all eWallet users for free. We expect strong demand for the card as this will expand our eWallet customers\u2019 payment horizon internationally,\u201d he added. Ng Kong Boon, Visa Country Manager for Malaysia, said this prepaid product that is tied to the Touch \u2018n Go eWallet will enable cardholders to pay at Visa\u2019s wide network of over 80 million merchants worldwide. \u201cWe are also heartened that cardholders who apply for this product will be able to contribute to United Voice\u2019s upskilling initiative and do their part for charity, while benefitting from making seamless and convenient card payments,\u201d he added. United Voice, set up in 2005, is Malaysia\u2019s first non-governmental organisation (NGO) to be run by persons with learning disabilities. The firm promotes self-advocacy to reduce the isolation of people with learning disabilities such as Down syndrome, autism, attention deficit hyperactivity disorder (ADHD), and cerebral palsy, providing them with the tools, training, platforms, and experience to take control of their lives. Touch \u2018n Go Group\u2019s sustainability framework is aligned with United Nation\u2019s Sustainable Development Goals (SDGs) and centred around 4 pillars \u2013 Tech 4 Good, Treating People Fairly, Digital Inclusion, and Our Planet. At the core of the group\u2019s sustainability efforts is the ethos that the group strives to achieve net positive in all its activities. The group\u2019s collaboration with United Voice is in line with the longer-term strategic focus under its Treating People Fairly pillar which encompasses empowering the differently-abled; fostering the inclusion of underbanked communities; and promoting responsible consumption. Touch \u2018n Go eWallet partners Fave to offer cashback to eWallet users in Malaysia"}, {"url": "https://technode.global/2023/01/13/thailand-e-wallet-provider-truemoney-enters-malaysia/", "page": 41, "title": "Thailand e-wallet provider TrueMoney enters Malaysia", "contents": "TrueMoneyWith a focus on providing a seamless payment solution in the digital age, TrueMoney is now the official payment provider for all of Lotus\u2019s locations across the country, TrueMoney said in a statement. With TrueMoney\u2019s hassle-free e-wallet and contactless QR Code payments, Lotus\u2019s customers can now make prepaid and game credit top-ups, as well as pay utility (eg. electricity, water) and phone bills in addition to their day-to-day expenses with simplicity. Furthermore, customers will be able to make peer-to-peer transactions through the True Money app and trace every transaction they conduct because every action is recorded in real-time. \u201cWe, TrueMoney, have now expanded into the Malaysian market, marking the company\u2019s 7th Southeast Asian country of operation. Through our eWallet, we offer seamless payment and convenience to all users, with a wallet size of MYR10,000 ($2306) and the utmost assurance of safe and secure payment,\u201d said Jessie Chong, Ascend Group\u2019s Country Managing Director. \u201cWe aim to leverage our international presence to create a holistic and dynamic approach to creating a payment ecosystem within Southeast Asia that benefits individuals and small and medium-sized enterprises (SMEs); which includes cross-border payments in the pipeline, \u201cWe might be the new kid on the block, but we bring with us a strong tech infrastructure & pre-existing businesses to connect with users in Malaysia,\u201d she added. The TrueMoney e-wallet is currently available in Malaysia via both the Apple App store and Google Play store. Users of the TrueMoney e-wallet will also be able to receive instant benefits upon activation, apart from enjoying Lotus\u2019s cashback and points, along with a RM10 TrueQuest reward. To make its mark in the country, TrueMoney has decided to make everyone\u2019s grocery shopping experience more convenient for Malaysian consumers. By partnering with Lotus\u2019s Malaysia, TrueMoney provides consumers with the convenience they need to effortlessly transact and manage their expenses for their essentials with its app. \u201cGiven today\u2019s climate, consumers are more technologically sophisticated, they seek seamless, easy, and convenient shopping experiences all the time. As part of Lotus\u2019s ongoing digital transformation, we are delighted to welcome TrueMoney to Malaysia and to our customers,\u201d said Vivian Yap, Executive Director, Customer of Lotus\u2019s Malaysia. \u201cBy incorporating TrueMoney into our e-wallet service portfolio, our customers have more cashless options at all of our 65 stores, \u201cNot only will customers have an easy cashless option with TrueMoney, but it will also be very rewarding as TrueMoney Malaysia will reward our customers with My Lotus\u2019s loyalty points. My Lotus\u2019s loyalty points can then be used to pay for purchases, giving them further savings on their shopping,\u201d she added. As of 2022, more than 50 million people across the Southeast Asian (SEA) region have used TrueMoney\u2019s e-wallet app. TrueMoney Malaysia hopes to form more local partnerships with well-known merchants in the future and build up the whole ecosystem of financial services. Founded in 2003, TrueMoney is a regional fintech company in Southeast Asia, under Ascend Money, a joint venture between The Charoen Pokphand Group (CP Group) and Ant Financial (Alibaba). TrueMoney operates in six countries and has the largest agent network with over 88,000 agents to seamlessly send money both domestically and internationally, as well as an e-wallet that offers a wide range of new financial solutions, such as cashless payments, mobile top-ups, bill payments, international remittances, and many more. Lotus\u2019s Malaysia is a member of the Charoen Pokphand Group Co Ltd (C. P. Group) since December 2020. The C. P. Group is a multinational conglomerate, operating across various industries ranging from agricultural, and industrial to service sectors. C. P. Group currently has investments in 21 countries and economies. Having acquired Tesco Malaysia\u2019s business in December 2020, Lotus\u2019s Malaysia has assumed the operations of all existing Tesco stores, employing 9,000 employees across one head office, two distribution centres and 65 stores throughout Peninsular Malaysia. Lotus\u2019s also has Malaysia\u2019s most extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan and Ipoh. GHL partners Alipay+ to enable travelers to use mobile e-wallets"}, {"url": "https://technode.global/2023/01/12/malaysias-carsome-strengthens-cooperation-with-indonesia/", "page": 41, "title": "Malaysia\u2019s Carsome bolsters Indonesian operations via Electrum partnership and Nusantara expansion", "contents": "Malaysia-based integrated car e-commerce platform Carsome said in a statement on Tuesday that it is joining forces with Indonesia-based Electrum to further accelerate two-wheeler electric vehicle (EV) adoption in response to growing local demand for sustainable and economical transportation. The partnership aims to contribute to the future of Indonesian mobility by encouraging the adoption of sustainable mobility solutions as the nation ramps up towards meeting its energy transition goals. Electrum is a joint venture established in 2021 between TBS and Gojek with a mission to develop and transform the two-wheeled electric vehicle (EV) ecosystem in Indonesia. \u201cOur partnership with Electrum will be game-changing. Together, we are exploring options to encourage two-wheeler EV adoption as demand grows for more economical and sustainable mobility solutions to power the nation\u2019s economic growth,\u201d said Carsome\u2019s Co-Founder and Group Chief Executive Officer Eric Cheng. As the leading car e-commerce platform with significant operations in Indonesia and the South East Asia region, he said the Carsome will be able to complement Electrum\u2019s growth aspirations to drive EV adoption in Indonesia. \u201cThis partnership also signals a new era in Carsome\u2019s journey to mature our plans and support the anticipated growth in EV adoption across the region,\u201d he added. Carsome, which participated Malaysian Prime Minister Anwar Ibrahim\u2019s working visit to Jakarta, also submitted a letter of intent (LOI) citing the company\u2019s interest to set up operations in Nusantara and to invest in digitalizing its automotive industry. \u201cCarsome thanks the Malaysian Government for the opportunity to be amongst front-runners to invest in the growth of Indonesia\u2019s future capital city Nusantara,\u201cWe\u2019re well-placed to contribute towards strengthening Nusantara\u2019s automotive ecosystem through digitalisation and to drive talent development and job creation with the establishment of new centers in the capital,\u201d said Cheng. He noted the firm has been present in Indonesia since 2017 and it is committed to taking meaningful actions that support and contribute towards the nation\u2019s socio-economic development needs. At present, Carsome operates 42 retail centers in Jabodetabek, West Java, and East Java. It launched Indonesia\u2019s first Carsome Certified Lab in August 2022 which is the largest across its four markets of operation. In June 2022, Carsome Academy, Carsome\u2019s automotive technical institute, was launched in Jakarta to further increase skilled workforce in the automotive industry. Other strategic alliances in Indonesia include acquisitions of iCar Asia, Southeast Asia\u2019s largest online auto classified platform which operates Mobil123 in Indonesia; equity share acquisition of PT Universal Collection, Jakarta-based car and motorcycle auction service company with subsidiaries across Indonesia. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, the firm aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with subsidiary brands iCar Asia, WapCar and CarTimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, ownership transfer to financing and other ancillary services. Carsome currently has more than 4,000 employees across all its offices in Asia. Carsome Mobility Lab unveils five up-and-rising stars"}, {"url": "https://technode.global/2023/01/12/mystartup-partners-dnb-to-solve-corporate-problems-through-mystartup-hackathon-2022/", "page": 41, "title": "MYStartup partners DNB to solve corporate problems through MYStartup Hackathon 2022", "contents": "MYStartupThe joint hackathon is envisioned to bring technological advancements within the problem-solving space of corporates and commercial industries to encourage ideation activities between corporations, emerging startups, and public tech teams, MYStartup said in a statement on Thursday. Paving the way for future collaborative opportunities between startups and established corporations, MYStartup will provide a platform for startups to develop creative technological solutions for corporations in tackling their key challenges. This strategic collaboration strives to accelerate innovation within corporate by working closely with startups. While the 5G rollout is still a work in progress, it is crucial to encourage activities that allow innovative solutions to be built on top of the 5G\u2019s infrastructure. The MYStartup Hackathon 2022 will enable DNB to gain valuable insights using the startups\u2019 ideation process on effectively incorporating 5G services that are accessible to all. The central theme around the hackathon is to objectively solve DNB\u2019s areas of concern, which have been detailed in the following problem statements:\u201cWe hope that this programme will act as a catalyst for even more strategic collaborations between startups and players from the corporate sectors in Malaysia and across the region as well\u201d, saidAhmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle. Starting on January 6, the hackathon consisted of three days of hackathon, masterclasses and one-on-one mentoring sessions. Shortlisted participants will undergo a boot camp to prepare them for the final pitching session on 14 January. Winners will receiveMYR10,000 ($2294)for solving each problem statement and a partnership with DNB to help implement the winning solutions in its ecosystem. Eligible startups and entrepreneurs are invited to participate in this event to explore the endless possibilities of technological advancements that can assist corporate solutions in an increasingly digital age. MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) in Malaysia. It consists of several programmes which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. Cradle is Malaysia\u2019s early-stage startup influencer, incorporated in 2003 with a mandate to fund potential and high-calibre tech startups through its Cradle Investment Programme (CIP). The firm is presently administered by MOSTI. Cradle has helped fund over 1000 Malaysian tech startups and holds the highest commercialization rate amongst government grants in the country. Currently allocated under the 12-Malaysia Plan, two new grants are made available to the startup ecosystem \u2013 CIP SPARK and CIP SPRINT. MYStartup Accelerator Program Cohort 2 offer funding and opportunities for tech startups\n"}, {"url": "https://technode.global/2023/01/11/solarvest-borneo-inks-mou-with-centexs-and-huawei-malaysia-to-develop-green-energy-lab/", "page": 42, "title": "Solarvest Borneo inks MOU with CENTEXS and Huawei Malaysia to develop green energy lab", "contents": "Solarvest Borneo Sdn Bhd, a subsidiary of Malaysian clean energy firm The lab will provide green energy-related learning programme involving solar, green mobility, battery storage systems, as well as green hydrogen, Solarvest said in a statement. According to the statement, the learning and talent partnership is intended to spur research and development collaboration and intellectual property creation in clean energy solutions. \u201cAs envisioned by the Sarawak government to transform the state into a regional renewable energy powerhouse, this programme is timely in nurturing the talents needed for the industry to attain the vision,\u201d said Director of Solarvest Borneo Leon Liew Chee Ing. \u201cBeing born and raised in Sarawak, as a Sarawakian, I am grateful to be able to contribute to the local community with CENTEXS, \u201cTogether with the partnership with Huawei Malaysia, we believe human capital development is a vital step in building a resilient and progressive society,\u201d he added. CENTEXS Chief Executive Officer Syeed Mohd Hussien Wan Abdul Rahman said the firm is cognisant of the importance of equipping our local talents with relevant hands-on trainings to enable seamless integration into the industry workforce. \u201cGreen Energy Lab has developed three programme, namely Solar, Green Mobility and Storage and Green Hydrogen. Hence, we are pleased to offer our facilities as testbeds for these programme, \u201cThis is a small step, but a meaningful one as we help Sarawak meet its aspiration for green power generation as outlined in the Post Covid-19 Development Strategy 2030,\u201d he added. Huawei Malaysia Digital Power Business Unit Vice President Chong Chern Peng said the firm is committed to providing the best green technology and in continuously skiling local talents in this area as it heads towards fulfilling the government\u2019s carbon neutrality goals. \u201cWe believe the development of local talents in Sarawak will help us capture and fulfill the ever-growing green industry market needs and demands. We hope the programme offered under this collaboration are able to attract and enhance their employability, \u201cThis will help the industry to progress towards creating a self-generating energy environment where the goal of carbon neutrality can be realised,\u201d he added. Solarvest is a clean energy firm with a multi-national presence across Asia-Pacific. The Malaysia-based company started as a one-stop solar photovoltaic system solution provider for residential, commercial and industrial, and utility-scale solar farms. Today, the firm owns renewable energy generation plants with a cumulative capacity of over 50MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificatesThis collaboration is a part of Solarvest\u2019s 5-Year strategic roadmap to transform into a regenerative clean energy expert. As the group expands vertically in the clean energy ecosystem, it has launched several green initiatives, including the green mobility arm, \u201cPowerBee\u201d in November 2022. CENTEXS was established by Sarawak state government to train more people on technical skills that the state needs to industrialize the economy. The firm was given the responsibility to train and upskill the young generation and organization workforce to meet the technical needs and requirements of the state industries focusing on the industry of oil and gas, electrical, construction, textile and heritage, hospitality and tourism, digital and agriculture. Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The firm has more than 195,000 employees, and it operates in more than 170 countries and regions, serving more than three billion people around the world. Malaysia\u2019s Exabytes partners with China\u2019s Huawei Cloud to provide cloud-first smart solutions"}, {"url": "https://technode.global/2023/01/11/touch-n-go-ewallet-partners-fave-to-offer-cashback-to-ewallet-users-in-malaysia/", "page": 42, "title": "Touch \u2018n Go eWallet partners Fave to offer cashback to eWallet users in Malaysia", "contents": "FaveThrough the partnership with Fave, Touch \u2018n Go eWallet users can now scan any Fave DuitNow QR, and earn up to 15 percent cashback across 17,000 food and beverage (F&B) outlets and retailers, both parties said in a statement. Participating outlets include Subway, Auntie Anne\u2019s, San Francisco Coffee, Puma, Clarks and more. The new service will create an easy, quick and rewarding digital payment experience on one platform. More than 18 million Touch \u2018n Go eWallet users will be able to earn cashback every time they pay for purchases by scanning the Fave-issued DuitNow QR code with a Touch \u2018n Go eWallet scanner and deduct it from the payable amount upon the next purchase. Users will also be able to link their Fave account and import all cashback, view and use the cashback for their purchases to create a unified experience and maximise their savings. The partnership reinforces how Fave\u2019s vision aligns with Touch \u2018n Go eWallet\u2019s in providing a seamless and convenient mode of payment while rewarding a new generation of smart consumers in their day-to-day transactions. Merchants will now have access to more than 18 million Touch \u2018n Go eWallet users nationwide via the Fave DuitNow QR and extend their loyalty cashback to more customers, reconciling them under one FaveBiz platform. \u201cWe are excited to be partnering with Touch \u2018n Go eWallet which manifests our continuous effort to create an integrated payment ecosystem that enhances user experience and creates more value with every digital transaction for all Malaysians,\u201d said Joel Neoh, Chief Executive Officer of Fave. \u201cThis partnership integrates both fintech capabilities on one single platform, enabling a smoother, faster, and simpler payment flow, \u201cAs for our merchants, this partnership helps them capture new businesses while retaining customers as we brave through the uncertainties of the retail landscape together,\u201d he added. Meanwhile, TNG DIgital Chief Executive Officer Alan Ni said rewards programmes are a proven strategy for growing and sustaining market share. \u201cBesides tapping into Fave\u2019s Loyalty Programme, this new partnership grants access to Fave\u2019s capabilities of offering rewards and savings options which will encourage consumers to shop digitally, \u201cWe are pleased to team up with Fave to continue providing our seasoned and new customers with more value-added services coupled with the flexibility to pay and transact,\u201d he added. Fave is one of Southeast Asia\u2019s fintech platforms providing a smart payment app for the smart generation of consumers to pay and save. The firm empowers offline businesses to grow and digitally connect with their customers in a whole new way. The firm currently operates in over 35 cities across Malaysia, Singapore, Indonesia and India. Fave is part of Pine Labs Group of Companies \u2013 a merchant platform company that provides financing and last-mile retail transaction technology. TNG Digital was founded by Touch \u2018n Go Sdn Bhd and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. Established in 2017, TNG Digital is the owner and operator of Touch \u2018n Go eWallet with more than 18 million registered users and over 1.2 million merchant touch points including DuitNow QR. Combining Touch \u2018n Go\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, Touch \u2018n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Touch \u2018n Go eWallet expands cross-border payment to China in collaboration with Alipay"}, {"url": "https://technode.global/2023/01/10/malaysias-bintai-kinden-ventures-into-digital-assets/", "page": 42, "title": "Malaysia\u2019s Bintai Kinden ventures into digital assets", "contents": "Bintai Kinden Corporation BerhadBintai Kinden said in a statement that the venture through its wholly-owned subsidiary Bintai Trading Sdn Bhd (BTSB) is part of the company\u2019s treasury management while taking into consideration longer-term needs in business expansion. As part of this initiative and to take into consideration the longer-term needs, BTSB has an account with a digital currency exchange licensed by the Securities Commission Malaysia. \u201cThis is an opportune time to venture into digital assets as values across the board has fallen, especially among the main ones such as bitcoin and ethereum,\u201cWe will devote a portion of our free cashflow for digital assets and will take a dollar-cost averaging approach when buying into them,\u201d said Azri Azerai, Executive Director of Bintai Kinden. According to him, this is also part of the company\u2019s treasury management as it needs to ensure cashflow to manage its daily operations while taking into consideration its longer term needs and strategies involving the M&E business. \u201cWe will continue to seek opportunities in Malaysia and neighbouring countries to expand,\u201d he added. Cited Coinbase Global Inc. \u2019s 2023 Crypto Market Outlook published in December 2022, Bintai Kinden said a flight to quality among institutional investors; creative destruction that will eventually lead to new opportunities and; foundational reforms that usher in the next cycle, are the key themes for the year. It said the Coinbase report noted that the coefficients that led to the high, positive correlation between bitcoin and ethereum versus United States stocks have trended lower since May 2022 and expects investors to select higher-quality cryptocurrencies based on factors such as sustainable tokenomics, maturity of ecosystems and relative market liquidity. It also said a survey sponsored by Coinbase, the \u201c2022 Institutional Investor Digital Assets Survey\u201d, conducted between September 21 and October 27, 2022 among 140 institutional participants, revealed that 53.6 percent expect cryptocurrency prices to remain range-bound over the next 12 months versus 29.3 percent who expect prices to trend lower while 7.9 percent expect prices to trend higher and 9.3 percent expressed no opinion on where prices will move. Bintai Kinden is a multidisciplinary building and industrial service engineering outfit founded in 1973. The company has designed, installed and commissioned systems that include the full range of engineering services for commercial buildings to industrial complexes. Headquartered in Malaysia, the firm has worked on projects in Southeast Asia, China and the Gulf region of the Middle East. Malaysia\u2019s K-One to conduct cloud computing business in Vietnam"}, {"url": "https://technode.global/2023/01/10/malaysias-incite-foodtech-acquires-eatcosys-to-create-aseans-retail-tech-ecosystem/", "page": 42, "title": "Malaysia\u2019s Incite Foodtech acquires Eatcosys to create ASEAN\u2019S retail tech ecosystem", "contents": "Incite Foodtech Sdn Bhd\u201cThe acquisition will enable us to advance our ambition of building a comprehensive, unified retail tech ecosystem in ASEAN region, which comprises consumer tech, retail marketing solutions, retail tech solutions and fintech services,\u201d Incite Foodtech Chief Executive Officer Karen S Puah said in a statement on Tuesday. The move witnesses both parties combining expertise and capabilities and diversifying their offerings to create a unified retail ecosystem that benefits both the business to business (B2B) and business to consumer (B2C) segments. This development also will be a fitting response to the latest government demand for industry players to develop more innovative products and market development strategies by leveraging the digital economy to revolutionise the retail industry. According to the statement, the ecosystem\u2019s business model comprises of four divisions including the consumer sector, which focuses on food and beverage brands and future expansion will include groceries, convenience stores, pharmacies, and electrical appliances chain stores. It also includes retail marketing solutions that offer redemption programmes, licensed-character promotions, merchant partnerships, and user activation; retail tech solutions, which focuses on point-of-sales, customer relationship management, data analytics, and payment gateway; and fintech services comprise digital lending, equity crowdfunding and venture capital. The live transactional data from the consumer sector, retail marketing solutions and retail tech solutions is harvested as guiding benchmarks for fintech services. All offerings related to finance are licenced by the Ministry of Local Government Development Malaysia and Bank Negara Malaysia, and regulated by the Securities Commission Malaysia. \u201cBoth parties aim to revolutionise the retail tech market in Malaysia, embedded with fintech. It couldn not have come at a better time for us to join forces and build a comprehensive ecosystem, with an initial public offering (IP)O as the ultimate goal,\u201d said Tham Lih Chung, Co-Founder and Chairman of Eatcosys. Tham, who will be listed as the Group Chief Executive Officer, stated they aim to hit MYR100 million ($23,000) in revenue within 12 months and are looking at expanding their business operations in the ASEAN region. Incite Foodtech Sdn Bhd is a food tech venture headquartered in Kuala Lumpur. The venture creates and acquires quick-serving-beverage-and-food (QSBF) brands that satisfy customer needs and sentiment by leveraging on big data. With its unique and \u201cplug-in and scale\u201d business model, Incite Foodtech supercharges QSBF brands development in a variety of formats, including physical outlets, shared space, kiosks, and cloud kitchens. As of the third quarter of 2022, Incite Foodtech operates in more than 25 locations with eight brands under its QSBF brands portfolio (Union Artisan Coffee, Hope Coffee, Eggdicted, Lada Merah, Wondermama, Halley, Goodbooch and K-Pop Grille). Eatcosys is a one-stop retail technology solutions provider fronted by a group of specialists with a steadfast commitment: to support the underserved and unserved businesses with a broad suite of retail and digital services. Its all-round solutions include a cloud-based POS system, CRM software, loyalty management, a transit advertising platform, e-commerce platforms, data insights, and financial services to address the business hurdles for micro, small and medium enterprises (MSMEs) and small and medium-sized enterprises (SMEs). Eatcosys goal is to build a network that empowers enterprises and start- ups to grow, thrive, and sustain long-term prospects. Malaysia\u2019s Penjana Kapital, AC Ventures, Indies Capital Partners ink deal for cross-border investments and technology transfer"}, {"url": "https://technode.global/2023/01/09/malaysias-penjana-kapital-partners-ac-ventures-indies-capital-partners-for-cross-border-investments-and-technology-transfer/", "page": 42, "title": "Malaysia\u2019s Penjana Kapital, AC Ventures, Indies Capital Partners ink deal for cross-border investments and technology transfer", "contents": "Malaysia\u2019s In a statement, the trio said the memorandum establishes a framework for Penjana Kapital, Indies Capital Partners, and AC Ventures to explore co-investment opportunities in Malaysia-Indonesia growth companies through existing and soon-to-launch funds. It also solidifies a commitment to facilitating cross-border investments and technology transfer in key sectors such as data centers, education, hospitality, mobility, and waste management involving Indonesian and Malaysian startups. According to the statement, Malaysia and Indonesia have shown immense commitment to fostering sustainable economic development and promoting the growth of the green economy. Cited data from the Malaysia External Trade Development Corporation, it said the total trade value between Malaysia and Indonesia rose 43.5 percent to MYR95.1 billion ($21.6 billion) in 2021 compared to 2020. Total Malaysian exports to Indonesia were up 32.5 percent to MYR39.22 billion ($6.9 billion) while total imports saw a 52.3 percent improvement to MYR55.88 billion ($12.7 billion) in the same period. The partnership will help Penjana Kapital find new and impactful investment opportunities from emerging sectors in Indonesia\u2019s fast-growing economy. Further, Indies Capital Partners and AC Ventures, with the help of Penjana Kapital, will help Indonesian and Malaysian companies pursue scalable business opportunities, exchange key knowledge, and share technology for industry development and trade networking. \u201cPenjana Kapital, Indies Capital Partners, and AC Ventures are all major players in the investment landscapes of Indonesia and Malaysia,\u201cThrough cross-border cooperation and investment, our firms have the opportunity to tap into new markets, access new sources of capital and expertise, and drive innovation and growth in both markets,\u201d said Pandu Sjahrir, Founding Partner at ACV and Managing Partner at Indies. \u201cBy working together, we can also deepen economic ties between Indonesia and Malaysia, and promote a more interconnected and prosperous ASEAN region,\u201cThe key to realizing this potential is in fostering a spirit of collaboration and prioritizing the interests of both nations,\u201d he added. Malaysian Prime Minister Anwar Ibrahim and Minister of International Trade and Industry Senator Zafrul Tengku Abdul Aziz witnessed the signing ceremony during the Prime Minister\u2019s two-day working visit to Jakarta. Penjana Kapital incorporated in 2020 as part of the Malaysian government\u2019s initiative to catalyze the development of innovative startup companies. Its main role is to stimulate the Malaysia\u2019s economy by futureproofing Malaysia businesses through innovation from start-ups, funded by private capital from strategic international and private domestic investors, matched by the government and in turn creating a vibrant and sustainable venture capital industry in Malaysia. Penjana Kapital administers and facilitates the deployment of the Dana Penjana Nasional, a matching fund-of-funds program where the Government of Malaysia will match, on a 1:1 basis, funds raised by the venture capital fund managers from foreign and private local investors. Indies Capital Partners is one of the earliest established private credit-focused managers in Southeast Asia. Since its inception, the firm has evolved into a top-quartile, award-winning alternative asset manager in the region, with strategies spanning private credit, private equity, and more, with more than $800 million in assets under management. ACV is a leading Southeast Asian venture capital firm investing in early-stage technology startups focused on Indonesia and ASEAN. The firm partners with and empowers entrepreneurs with more than capital by combining operational experience, industry knowledge, deep local networks, and resources to create value for the companies it backs. With more than $500 million in assets under management, ACV is a generational partner to founders driving positive societal change and economic impact in Indonesia and beyond. Malaysia\u2019s Penjana Kapital partners Indonesia\u2019s AC Ventures to pave way for Malaysian start-ups to access $1T Indonesian market"}, {"url": "https://technode.global/2023/01/09/ushering-into-an-uncertain-2023-heres-what-vcs-experts-think/", "page": 42, "title": "Ushering into an uncertain 2023: here\u2019s what VCs & experts think", "contents": "Many are expecting a tough year in 2023, as the three major engines of global growth \u2013 the United States, Europe and China \u2013 are all experiencing weakening activity. The new year is going to be \u201ctougher than the year we leave behind,\u201d IMF Managing Director Kristalina Georgieva said recently on the CBS Sunday morning news program \u201cFace the Nation. \u201d\u201cBecause the three big economies \u2013 the US, EU and China \u2013 are all slowing down simultaneously,\u201d she said. \u201cFor the first time in 40 years, China\u2019s growth in 2022 is likely to be at or below global growth. \u201dThe IMF Global GDP growth in 2023 is expected to slow to 2.7 percent, compared, down from its July forecast of 2.9 percent, the IMF said then. Zooming into Southeast Asia, the Asean region will remain one of the fastest-growing regions of the world in 2023 but economic growth will likely fall marginally from 2022, largely due to worsening global economic conditions and tightening monetary policy, according to a note on The Asean region, however, will remain attractive to foreign direct investment, with trends in commercial and state investment likely to remain consistent throughout the year, despite a more challenging macroeconomic environment, the consulting firm noted. \u201cThere are many reasons to expect that the world economy will face a rough ride next year; inflation, recession, the strong dollar and not mention wars, trade issues, job cuts, falling market indices, the spectacular meltdown of big tech companies and many others,\u201d regional VC firm \u201cA lot of these have a direct impact on startups, including those in Southeast Asia. For startups, raising funds is getting harder. For fund managers, while there is still plenty of dry powder, they taking a more cautious stance until leading indicators turn more positive,\u201d he said. Tech sector is expected to remain a \u2018wait-and-see\u2019 approach going into 2023, considering the current developments in this industry of late, Marissa Salim, Vice-President, Hedge Fund Research of Preqin told But still, there are reasons to be optimistic, according to VC firms. \u201cSoutheast Asia is a large producer and consumer market and is still relatively sheltered from political problems faced by the Western world,\u201d Gobi\u2019s Jamaludin shared. \u201cWe think this zone will maintain its strong growth and will be politically stable to ensure long term prosperity, supported by demands from the West and China. \u201d\u201cThe tough situations faced by startups currently in a way act as a natural filter for us to choose the best companies, those which have successfully adjusted themselves to remain relevant to their markets,\u201d he added. As for Indonesia, the largest economy in the region, 2023 could be seen as a good year to invest in technology, according to Indonesia-focused VC firm \u201cFrom a US perspective, we expect inflation to peak early next year and rate hikes ending. This should support the US avoid a recession with minimal growth. The re-opening of China, and reduction of high inventories should further support this as well. This bodes well for Indonesia as commodities demand will remain strong and enable slower domestic rate increases to support the economy,\u201d Indonesia-focused VC firm AC Ventures Founder and Managing Partner Adrian Li told Indonesia\u2019s central bank expects gross GDP to grow by 4.5 percent to 5.2 percent this year and the country will become a $1.3 trillion economy, he noted. Technology companies will benefit from continued digital adoption and increased engagement by consumers as well as reduced labor costs as the supply of talent increases in the ecosystem, Li said. \u201cCompanies with strong balance sheets and health unit economics stand to benefit the most, in particular those who were fastest to recognize the challenges of 2022 and implemented swift and appropriate cost-cutting measures. \u201dAccording to Li, many funds continue to have large amounts of capital to deploy in the best companies and those businesses which can demonstrate sustainable growth with quality metrics will be able to fundraise. \u201c2023 will be one of the best years in the past decade to invest in technology as digital penetration is at its highest ever and capital efficiency is paramount,\u201d he shared. According to Li, there are pillars in the Indonesian economy that are mainstays as value drivers for the industry as they solve fundamental problems that exist in its market with technology. \u201cThat is why historically, and in the future, we invest in Fintech, MSME, e-commerce and consumer verticals,\u201d he said. \u201cRecently, however, we have also seen some interesting developments in some emerging sectors including ESG and upstream B2B platforms. \u201d\u201cESG is the hot theme now and rightfully so, given the climate, inclusivity, sustainability and governance issues the world is facing now. We think technologies addressing these complex issues will drive the industry further into the future. We are actively looking out for suitable companies in Malaysia and in this region now,\u201d Gobi\u2019s Jamaludin said. Gary Khoeng, Partner at Singapore-headquartered VC firm These include cost-effective consumer solutions, new wave of products and services empowering the Creator Economy, digital finance deepening their services for the underbanked, digital health alleviating strain on public healthcare systems and enabling care at home, agriculture, climate and sustainability and mobility beyond electric vehicles. Commenting on the firm\u2019s plan, he said the VC firm focuses on \u201cbuilding and enriching local startup communities across Southeast Asia and India, expanding our physical footprint to more locations within Southeast Asia to invest in top in class opportunities by quality founders. \u201dGobi\u2019s Jamaludin opined that investors who seize the opportunities now rather than taking the wait-and-see approach will be in a better position. \u201cUnlike previously, this is currently the investor\u2019s market. This may not hold for a long time given the high dry powder in the market now but we think investors that are willing to take the risk and take the opportunity to invest now rather than wait for the market to turn, will be in a better position,\u201d he said. Fundraising activity in Southeast Asia over the past year (2022) has been quite different when compared to previous years, according to Preqin\u2019s Marissa. \u201cFrom what we are seeing, the average size of a fund raised in 2022 for managers based in Southeast Asia is larger compared to even five years ago, partly due to a couple of private capital funds which closed this year on bigger ticket,\u201d she added. Following the G20 event in Indonesia last year, AC Ventures\u2019 Li noted that many geopolitical tensions are expected to be improved as the global economy is trying to pick itself back up. \u201cAdditionally, many new government regulations promoting a wide range of sectors from healthcare to industry and the environment will serve as a tailwind for digitization moving forward,\u201d he said. As large listed incumbents such as Sea Ltd, GoTo and Grab focus on profitability, large non-core verticals have been deprioritised or stopped altogether. This reduces competition and opens up new opportunities for startups to grow sustainably and focus on their quality metrics. \u201cWe also believe the strongest entrepreneurs and businesses are likely to emerge in times like these which creates a highly compelling time to be investing in technology,\u201d he shared. The best startups and teams will find that they have plentiful sources of capital and that many firms have invested heavily in providing highly value-adding support services to their portfolio. The past two years have also seen venture firms raise the bar on how they invest and work with their founders, according to AC Ventures\u2019 Li. \u201cLater-stage investors will find great opportunities in Indonesia at better valuations than have been seen in the past three years. Coupled with a fast-emerging exit market the next few years could be the best vintages of technology investment the market has seen,\u201d he said. Both AC Ventures and Gobi Partners also gave their suggestions on how the startup ecosystem can further improve. Li hopes that there will be more collaboration between the government and the startup ecosystem in Indonesia. \u201cWe hope that there will be more collaboration and dialogues between the government and the startup ecosystem in Indonesia as we can reach mutual goals in 2023 and beyond. This includes agile processes amongst investors, startups and the government,\u201d Li said. For governments, there is a need to continue providing a conducive and supportive environment for startups to thrive such as making it easier to hire foreign experts, Gobi\u2019s Jamaludin said. \u201cFor startups, take this opportunity to learn to be nimble and start paying more attention to managing cash flow and their resources effectively. \u201dTechNode Global\u2019s Top 10 feature articles in 2022"}, {"url": "https://technode.global/2023/01/06/malaysias-worqapp-raises-1m-seed-funds-to-launch-super-app-for-effective-execution/", "page": 42, "title": "Malaysia\u2019s WorqApp raises $1M seed funds to launch super app for effective execution", "contents": "WorqApp\u201cIn less than one month since the soft launch, we have already customers from Malaysia, Middle East and Europe. WorqApp is a very customer-centric product and we have a goal to help more than 1000 organisations with Effective Execution within the next 3 years,\u201d WorqApp Co-Founder and Chief Executive Officer Hassan Mehmood said in a statement. Despite the challenging COVID pandemic period, the company has made constant progress since its establishment. Sharing his experience from building the platform over 3 years, Mehmood said one of the key success factors for WorqApp is the \u2018all-in-one\u2019 approach. \u201cYou can think of super app like Grab or Wechat for social matters or aspects related to lifestyle but there is none for Effective Execution at the workplace,\u201cWorqApp\u2019s approach reduces the cost for our customers and makes it possible for leaders to use one digital platform for effective execution,\u201d he added. Jonas Lind, Managing Director of Megadeals Invest and Chairman of WorqApp said interacting in today\u2019s world is easier than ever yet the gap between strategy and execution is widening. \u201cThis gap is especially prevalent in large companies and in fast-growing startups. Companies that manage to close this gap will see a tremendous impact on financial performance,\u201d he added. WorqApp is owned and developed by Nib Technologies Sdn. Bhd (NibTech) \u2014 a Malaysian-born startup on a mission to make Enterprise Execution effective. Established in 2018 by co-founders Teh Chee Hoe, Jonas Lind and Hassan Mehmood, the firm is the platform for teams and businesses to implement enterprise execution effectively. The core method of WorqApp involves the behavioral design and nudge theory to support its mission. The app involves tools to communicate, collaborate and boost engagement making it easier to manage teams of all kinds, run high-impact initiatives that enable a business to see and achieve their long-term goals, develop talent among individuals for fast-moving career growth, and to help with everyone\u2019s productivity using its smart tools. UK\u2019s activpayroll acquires Malaysia-based payroll outsourcing and employee mobility specialist Propay Partners"}, {"url": "https://technode.global/2023/01/05/mystartup-accelerator-programme-cohort-2-offer-funding-and-opportunities-for-tech-startups/", "page": 42, "title": "MYStartup Accelerator Program Cohort 2 offer funding and opportunities for tech startups", "contents": "MYStartupIn a statement, MYStartup said the Accelerator Program was initiated by the Ministry of Science, Technology and Innovation (MOSTI) of Malaysia to create and nurture successful global Malaysian startups, and is part of Cradle Fund Sdn. Bhd. (Cradle)\u2019s mission to become a world-class startup ecosystem regionally and globally. Cohort 2 of the MYStartup Accelerator Program is now open for registration to startups who are (i) an incorporated company in Malaysia; (ii) a tech startup with a scalable nature; (iii) in the stage of MVP or revenue-generating, and (iv) looking to expand regionally and globally. Successful candidates will be selected to undergo a six-month intensive enrichment program that will provide their startups with access to experienced mentors, interactive workshops, and masterclasses by world-leading industry experts to help them scale their businesses. Some of the added advantages that come with the program include a once-in-a-lifetime chance to be selected to participate in an Overseas Immersion Programme, where the startups will have the chance to connect with other players in the industry, and at the same time gain real-life insights into expanding their business regionally and even globally by experiencing how other startups work. All successful candidates will be provided full support and guidance via workshops and seminars to ensure that they are well-prepared to enter any market for further business expansion. Registration for the MYStartup Accelerator Programme for Cohort 2 is still open and will be closed on  January 9th, 2023. MYStartup Strategy consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. With a mandate to fund potential and high-caliber tech startups through its Cradle Investment Programme (CIP). Cradle is presently administered by MOSTI. Cradle has helped fund over 1000 Malaysian tech startups and holds the highest commercialization rate amongst government grants in the country. Currently allocated under the 12-Malaysia Plan, two new grants are made available to the startup ecosystem \u2013 CIP SPARK and CIP SPRINT. MYStartup partners airasia academy to enable startup community to learn and upskill"}, {"url": "https://technode.global/2022/12/28/technode-globals-top-10-feature-articles-in-2022/", "page": 42, "title": "TechNode Global\u2019s Top 10 feature articles in 2022", "contents": "It\u2019s the time of the year again as we take a look back at what had happened in 2022 in the tech and startup scene, before ushering into 2023. The year 2022 has generally looked less rosy as compared to 2021 as the tech industry is clouded with layoffs and a slowdown in fundraising activities. We have written some analysis and feature articles in 2022, covering various sectors, including FinTech, DroneTech, Web3, and electric vehicles, among others. Here are the most popular ones: 1. Fintech continues to be a hot sector in Southeast Asia after a booming 2021FinTech continues to be a hot sector in Southeast Asia after a booming 20212. Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]\nMalaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]3. Women in tech: How these VCs are helping to close gender gap in Southeast AsiaWomen in tech: How these VCs are helping to close gender gap in Southeast Asia4. Vietnam\u2019s homegrown carmaker VinFast\u2019s in high gear to win US & European EV marketsVietnam\u2019s homegrown carmaker VinFast\u2019s in high gear to win US & European EV markets5. Finding a niche in the Philippines\u2019 Iron TriangleFinding a niche in the Philippines\u2019 Iron Triangle6. Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licensesConsortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses7. Malaysia\u2019s Carsome banks on digital banking to complement existing car businessMalaysia\u2019s Carsome banks on digital banking to complement existing car business8. The rise of Web3: Asia Pacific expected to grow at fastest rateThe rise of Web3: Asia Pacific expected to grow at fastest rate9. Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 2]\nMalaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 2]10. KPMG-HSBC report spots 10 potential unicorns in Malaysia: here\u2019s a closer lookKPMG-HSBC report spots 10 potential unicorns in Malaysia: here\u2019s a closer lookTechNode Global\u2019s Top 10 most-read news articles in 2022"}, {"url": "https://technode.global/2022/12/22/bursa-malaysia-and-ram-collaborate-on-a-new-debt-fundraising-platform/", "page": 42, "title": "Bursa Malaysia and RAM collaborate on a new debt fundraising platform", "contents": "Malaysian stock exchange The platform will facilitate listed and unlisted small to mid-sized companies tapping into a new pool of capital outside of traditional wholesale markets, offering a new avenue and greater flexibility to these companies looking to raise funds, both parties said in a statement. According to the statement, the platform provides for a \u2018bond-like\u2019 experience allowing investors to invest in investment notes with credit and environmental, social, and governance (ESG) ratings as easily as they would invest in shares in a transparent and regulated market, facilitating informed investment decisions. Under the agreement, the joint venture will be carried out through a new company whereby Bursa Malaysia will hold a 51 percent equity interest and RAM will hold the remaining 49 percent. \u201cThis agreement marks a significant milestone in our journey to become a multi-asset exchange,\u201d said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. According to him, the collaboration with RAM will broaden fund raising avenues for both public limited companies (PLCs) and unlisted entities \u2013 specifically enabling better access to both conventional and Shariah investment notes. \u201cAt the same time, we would also be able to provide new fixed income investment opportunities to both retail and sophisticated investors,\u201cThis will further create an alternative fund-raising avenue for businesses which are currently underserved in this challenging environment and that are not yet ready to list on the exchange,\u201d he added. RAM Group Chief Executive Officer and Executive Director Chris Lee said to enhance transparency in the ecosystem of debt-based financing and investments, RAM will contribute its expertise in credit ratings, ESG ratings and fixed income pricing. Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005, and has grown to be one of the largest bourses in ASEAN today. The firm operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities, and is committed to creating opportunities, growing value. RAM is a provider of independent credit ratings, research, training, risk analysis, ESG analytics and bond pricing. Formerly known as Rating Agency Malaysia Berhad, RAM was established in November 1990 as a catalyst for the domestic debt capital market and as the nation\u2019s first credit rating agency. In 2007, its rating operations were novated to a newly formed subsidiary, RAM Rating Services Berhad. Apart from credit ratings, the RAM Group also offers myriad solutions ranging from economic and debt market research, data & analytics and sustainability services. In 2016, RAM Sustainability commenced offering Sustainability Ratings, a tool and framework that measure companies\u2019 environmental, social and governance (ESG) performance. Bond Pricing Agency Malaysia Sdn Bhd (BPAM) became a wholly owned subsidiary of RAM on June 30, 2021. The company is the sole provider of bond-pricing and valuation data on the Malaysian bond market and is regulated by the Securities Commission Malaysia. Temasek, DBS jointly launch $500M debt financing platform for Asia\u2019s growth stage tech firms"}, {"url": "https://technode.global/2022/12/22/berjaya-corp-partners-mnc-group-to-explore-e-money-business-in-malaysia/", "page": 43, "title": "Berjaya Corp partners MNC Group to explore E-Money business in Malaysia", "contents": "Malaysia-listed conglomerate Both parties said in a statement on Wednesday that the strategic partnership aims to leverage both BCorp\u2019s and BCAP\u2019s strengths to develop and expand the e-money-related services specifically between Indonesia and Malaysia. \u201cI am excited with the strategic partnership with the MNC Group. We see the tremendous value that MNC Group will bring as our strategic partner in enhancing the group\u2019s ability to meet the needs of our customers, \u201cI look forward to the possibility of expanding the scope of our collaboration with the MNC Group moving forward as we work to further strengthen our position as the leading global consumer group,\u201d said Vincent Tan Chee Yioun, Founder and Chairman of BCorp. Meanwhile, MNC Group Executive Chairman Hary Tanoesoedibjo said the partnership between MNC Group and BCorp is expected to create synergy in providing convenience to the Indonesian people in Malaysia. \u201cI hope this partnership will also lead to more collaboration between Indonesian and Malaysian companies to benefit both countries and their people par\u019fcularly in trade, investments and businesses, \u201cI am confident that our expertise in digital financial services will be a gamechanger and bring significant value to this partnership,\u201d he added. BCAP is established by MNC Group, one of the largest national business groups in Indonesia. Under the leadership of Hary Tanoesoedibjo, MNC Group has become the leader in four strategic investments: media and entertainment, financial services, entertainment hospitality, and energy. BCorp is a company listed on the main market of Bursa Malaysia Securities Berhad and is a global consumer group with interests in four core business segments \u2013 retail (food and non-food), hospitality, property and services. BCorp\u2019s interests under these business segments include amongst others, food and beverages, consumer marketing, property development and investment, financial services, hotels and resorts, recreation clubs, air charter services, gaming, environmental services, motor trading and distribution, telecommunications, digital solutions and others. Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global"}, {"url": "https://technode.global/2022/12/21/malaysias-sersol-ventures-into-electric-scooters-business/", "page": 43, "title": "Malaysia\u2019s Sersol ventures into electric scooters business", "contents": "Malaysia-listed coatings business firm Sersol said in a bourse filing on Wednesday that the joint venture companies of Sersol Energy Sdn Bhd, a wholly owned subsidiary of the company, namely Sersol Takuni (M) Sdn. Bhd. , Sersol Takuni (Thailand) Co. Ltd. , and PT Sersol Takuni (collectively referred as ST) have entered into a Memorandum of Understanding (MOU) with Chongqing Beidou Jiean Neo-Energy Technology Ltd. (Beidou). Under the MOU, the parties will sell, distribute, assemble and produce electric scooters and related accessories and infrastructures which will include the charging of the electrics scooters throughout Malaysia, Thailand, and Indonesia. Beidou is a China-based technological company specialized in providing total solution for new energy technology and its application for various industries. The MOU is to pave way for ST and Beidou to collaborate with each other exclusively in Malaysia, Thailand and Indonesia. ST will assist and facilitate Beidou in conducting and to accomplish all business activities in Malaysia, Thailand and Indonesia including show rooms, product on-road certification and essential stocks. Beidou will provide the products of Beidou, including technology transfer and patent licensing when parties want to set up the manufacturing base in either Malaysia or Thailand. This MOU will be effective from the signing date of the MOU and remain in force for a period of three months. Sersol Bhd, which was listed on Bursa Malaysia on 2004 is an entity involved in the coating industry. The company\u2019s main plants are located in Johor, while its business reach stretches from Malaysia all the way to Thailand. Ni Hsin partners with SIRIM to set up lithium-ion battery recycling plant"}, {"url": "https://technode.global/2022/12/21/uks-activpayroll-acquires-malaysia-based-payroll-outsourcing-and-employee-mobility-specialist-propay-partners/", "page": 43, "title": "UK\u2019s activpayroll acquires Malaysia-based payroll outsourcing and employee mobility specialist Propay Partners", "contents": "United Kingdom-based human resources tech firm Activpayroll said in a statement on Monday that the firm has delivered significant year-on-year growth, growing revenues over the last year by an impressive 27 percent, with the Asia Pacific business proving to be a significant part of that success. It said the acquisition of Propay Partners will accelerate this growth and provides the ideal opportunity to support existing customers while building on activpayroll\u2019s success in the region. \u201cAt activpayroll, we are targeting long-term sustainable growth, building an ambitious approach to acquiring new business while continuing to provide excellent service to our existing customers, \u201cAcquiring Propay Partners and the associated growth in the Asia Pacific region is key to us achieving this objective,\u201d said Jason Allen, activpayroll Chief Executive Officer. According to him, Propay Partners and activpayroll have a long-standing partnership spanning over ten years and have fostered a strong collaborative working relationship which places people at the heart of their success. \u201cWhen we decided to make the strategic move and strengthen our presence in Asia Pacific, we knew that Propay Partners was the perfect fit,\u201cThe coming together of our two companies will ensure our continued high service delivery to our growing customer base, and I\u2019m confident that together we will meet our strategic objective of being best-in-class in the Asia Pacific market,\u201d he said. He also said that the Propay Partners team\u2019s brilliant service delivery to both colleagues and customers are perfectly aligned with activpayroll\u2019s own values. \u201cWe will build on Propay\u2019s two decades of knowledge in the market, and together, we will meet our ambitious growth objectives,\u201d he added. According to the statement, Propay Partners has built a strong reputation for high customer service during its 21-year history by consistently delivering excellence. It has a strong track record in streamlining payroll outsourcing solutions and employee mobility and has ensured its clients stay ahead of the curve when it comes to offering innovative payroll and mobility technology solutions. Activpayroll said the firm has big plans for growth in Asia Pacific and sees the Propay Partners business at the centre of that expansion. It said Malaysia is perfectly placed geographically to service the largest customers in Asia, and access to a highly skilled talent pool will help further enhance the service offering. It also said key to meeting this objective is the continuation of the strong partnership that already exists between the two businesses. \u201cWe\u2019ve spent the past 21 years building and growing our business and now feels like the right time to integrate with activpayroll, \u201cWe are confident that they will help support the team on the next stage of their journey,\u201d said Manish Mehta, Co-Founder and Business Director of Propay Partners. \u201cThe values and commitment that activpayroll has to its people and customers will help ensure a seamless transition for our team members, clients and partners, \u201cThe Propay Partners team is excited to be joining activpayroll and helping to drive future growth and success in the region,\u201d he added.  Manish is bringing his considerable experience to activpayroll as he joins the team as the new Regional Director for Asia Pacific. Malaysian EWA startup Paywatch raises $9M funding led by Third Prime"}, {"url": "https://technode.global/2022/12/20/malaysias-aerodyne-acquires-controlling-stake-in-brazils-drone-inspection-company-grupo-dr1/", "page": 43, "title": "Malaysia\u2019s Aerodyne acquires controlling stake in Brazil\u2019s drone inspection company Grupo DR1", "contents": "Aerodyne GroupThis strategic investment marks Aerodyne\u2019s entry into Brazil, the largest market in LATAM, Aerodyne said in a statement. The deal also provides Aerodyne with the opportunity to tap into the largest oil and gas drone services market in the said region, which is expected to grow at a compound annual growth rate (CAGR) of more than 70% in the next few years. The strategic investment also serves as a regional platform to launch Aerodyne\u2019s new technology and solutions in precision agriculture, advanced air mobility, and remote and autonomous drone-based solutions space, among others. This partnership capitalizes on the strengths of both parties creating a synergy towards the advancement of the industry in the region. Headquartered in Rio de Janeiro, Grupo DR1 has established a strong track record servicing major clients in multiple sectors including oil and gas, and mining. The firm\u2019s existing management team, led by the Chief Executive Officer Mateus Santos and Chief Operating Officer Ricardo Santos, will continue to lead the company and remain as co-shareholders. According to the statement, this partnership will solidify Grupo DR1\u2019s position in LATAM beyond the oil and gas sector by complementing its existing solutions with Aerodyne\u2019s turnkey DT3 solutions. Leveraging Aerodyne\u2019s proven track record in various sectors such as powerline and telecommunications, the strategic investment allows for Grupo DR1\u2019s synergistic expansion into such verticals. Through Aerodyne\u2019s global support, Grupo DR1 is now able to expand its presence beyond the borders of Brazil, providing scalability and opportunities for diversification. \u201cThis investment is a platform for Aerodyne to expand our footprint into Brazil and to export our technology solutions and other value-added services to Grupo DR1\u2019s existing clientele and beyond,\u201cWe are proud to be the world\u2019s leader in the use of artificial intelligence (AI) as an enabling technology for large-scale data operations, analytics and process optimisation,\u201d said Aerodyne\u2019s Chief Strategy Officer Amir Zakwan Anuar. According to him, this is the first of a new wave of investments in the Aerodyne Group pipeline in the company\u2019s strategy to consolidate the drone technology market. \u201cWe look forward to fuelling the next phase of growth in LATAM and contribute to the development of the region,\u201cGrupo DR1 already has a strong foundation which is perfectly aligned to our vision and has the expertise to further realise the immense potential,\u201d he added. Grupo DR1 Chief Executive Officer Mateus Santos  also expressed excitement on being Aerodyne\u2019s strategic partner, leveraging on the global footprint and expertise in data technology and digital transformation. \u201cWe are pleased to welcome this investment and in being a strategic partner of Aerodyne Group,\u201cThis partnership will allow us to offer the most innovative and differentiated value proposition for our clients, enabling Grupo DR1 to expand its wings not only in new verticals but also increase depth of technology solutions with existing clients,\u201d he added. Aerodyne Group is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enabling technology for large-scale data operations, analytics, and process optimisation. The firm employs over 1,000 drone professionals who operate on an unprecedented level in the UAS services sector, having managed more than 560,000 infrastructure assets with 458,058 flight operations and surveyed over 380,000 km of power infrastructure more than 30 countries globally. Grupo DR1 is one of the leaders of drone-based enterprise solutions in Brazil. The company is focused on the asset management and topographic survey for multiple sectors through technological innovations focused on drones and software. Under management, the firm has seven contracts and more than 35 active clients. Supported by a team of 32 people, with experienced trained operators and equipment suitable for the activities, the company holds over 90 percent of market share in offshore drone inspections. Until 2021, Grupo DR1 was responsible for delivering more than 1,000 projects for the largest companies in the oil and gas, mining, steel and cement sectors in Brazil. Malaysia\u2019s Aerodyne secures $30M strategic investment bridging round led by Petronas"}, {"url": "https://technode.global/2022/12/19/mystartup-partners-airasia-academy-to-enable-startup-community-to-learn-and-upskill/", "page": 43, "title": "MYStartup partners airasia academy to enable startup community to learn and upskill", "contents": "MYStartupIn a statement, MYStartup said as part of its efforts in building up and strengthening the Malaysian startup ecosystem, major corporations have been identified as strategic partners to ensure the ecosystem\u2019s holistic growth. This latest partnership with airasia academy reaffirms MYStartup\u2019s vision through a specific initiative of helping entrepreneurs and startups alike accelerate their upskilling efforts through accessible guided learning content. According to the statement, education and knowledge have always been at the forefront of any company culture that demands innovation and enhanced growth. Especially more so now, with today\u2019s rapid technological advancements in the world, learning has become even more crucial for startups to keep up with the latest knowledge and trends in their respective industries. MYStartup has recognised that by helping provide entrepreneurs and startups with a tool they can use to upskill themselves, they will be able to solidify their foundation, adapt through changing environments, solve current gaps, and constantly stay ahead of their competition. Airasia academy is a one-stop tech, leadership and innovation academy aimed at supercharging the digital economy within the ASEAN region. Airasia academy, along with MYStartup, prides itself in being the key player to bridge the gap between tertiary education and advanced industries for Malaysians in the startup scene, aiding those looking for additional courses and certifications that may not be offered in the public education system. MYStartup and airasia academy are working together to offer courses ranging from coding to digital marketing, cybersecurity, and software engineering, covering many essential skills and aspects of a startup journey. The one-stop learning hub for anyone to complete their startup needs will be curated and led by industry experts and top universities around the world and will not only allow the startup community, but also those who are exploring starting up their own company to equally benefit from this new course. Users will not only have access to a wide range of skills and courses, but upon completion of each course, they will be awarded an airasia academy certification that is supported by Google Cloud and recognized by HRD Corp, MOSTI and the Malaysian Academic Consortium. \u201cThrough the provision of these courses on airasia academy, we at MYStartup, hope to empower the local startup community as we strive to become one of the best startup ecosystems regionally and globally,\u201d said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle. \u201cIt is through our continuous efforts we hope to ensure that the startups within our network are fully equipped and have the added advantage to take on real-world challenges that might face them ahead, \u201cBe it to increase productivity, profitability, or to improve employee engagement and retention, they will be provided with the best learning platform to upskill and reskill in their journey to becoming leaders in their fields,\u201d he added. According to Kashfi, the startups will have access to new knowledge and the ability to reach new heights under the guidance of top experts in the industry. He hopes that through this initiative, Malaysia\u2019s local startups will be able to build a strong foundation for themselves as they take their businesses to the next level. Cradle is incorporated in 2003 with a mandate to fund potential and high-calibre tech startups through its Cradle Investment Programme (CIP). The firm is presently administered by MOSTI. \u201cIn our endeavour to facilitate the local startup community keep up with the digital age and help them grow our nation\u2019s economy, it is essential that we support the startups and the dynamism that they bring,\u201d said Airasia academy Strategy and Innovation Director Ram Gopal Raj. \u201cAirasia academy is proud to furnish the educational needs of the startups by forming part of the talent and knowledge hub that will help them and the Malaysian startup ecosystem in general, prosper,\u201cHowever, everybody can benefit from this wealth of knowledge and I welcome all users regardless of their backgrounds to check out airasia academy and the vast reskill/upskill courses that we offer,\u201d he added. Launched in October 2020, airasia academy is a one-stop tech, leadership and innovation academy aimed at supercharging the digital economy within the ASEAN region. MYStartup accelerator Program Cohort 2 opens for registration, offering funding to fuel tech startups in Malaysia"}, {"url": "https://technode.global/2022/12/19/malaysias-ficus-capital-announces-13-58m-fund-to-invest-in-malaysia-and-south-east-asia-growth-startups/", "page": 43, "title": "Malaysia\u2019s Ficus Capital announces $13.58M fund to invest in Malaysia and South East Asia growth startups", "contents": "Malaysian based venture capital firm With its flagship MYR 60 million ($13.58 million) fund, Ficus SEA, the world\u2019s first shariah compliant venture capitalist is looking for revolutionary, sustainable and purpose-driven startups that are bringing impact to the environment, social and governance (ESG) in a sustainable way, Ficus Capital said in a statement. According to the statement, Malaysia Venture Capital Management Berhad (Mavcap) is the fund\u2019s anchor investor. Ficus Capital was founded in 2018 by a group of accomplished professionals and entrepreneurs who have had accumulated years of experience in banking, investment and technology industry. The company has invested $450,000 in Eclimo, a Malaysian designed and owned electric vehicle company. It has also invested $400,000 in Assemblr, Indonesia\u2019s revolutionary augmented reality (AR) platform company that helps users to create AR contents via its web-based platform. \u201cEclimo and Assemblr are testimonials to our principles in investing in companies that are making future impact, now, \u201cWe are committed in supporting the growth of companies that are beneficial to the society and sustainable economically,\u201d said Abdullah Hidayat, co-Managing Partner, Ficus Capital. Being a shariah compliant venture capital, he believes ESG and sustainability are deeply rooted in Islamic economics and investment ethics within the parameters of people, planet, profit and principle. \u201cAll our investment portfolios will be based on that,\u201d he emphasized. Meanwhile, Ficus Capital Co-Managing Partner Rina Neoh said as a key enabler to the ecosystem, the firm is aware of the challenges faced by start-ups as it regularly engages with them. \u201cFicus is not just a financial investor, as we commit our energy to help the start-ups scale their growth and sustain their businesses, \u201cOur network and experiences are their value-adding resources to help them bridge the gaps in their strategic planning, market expansion and increasing their valuation,\u201d she added. Eclimo champions the nation\u2019s aspirations of sustainable energy through its electric vehicles. Initially embarking on green technology research and development, the firm then focused its efforts on productization, building its way towards manufacturing electric motorcycles (ES11 and EB25) and lithium-Ion battery packs (Eclimo Power) and modules. \u201cAt Eclimo, we believe in unleashing the power of collaboration and partnership. The investment from Ficus is a solid partnership that supports our plan to enter the regional market, \u201cFicus is a strategic and value-added investor who understands our vision and is a proponent of sustainable investment,\u201d said Eclimo\u2019s Founder Dennis Chuah. Assemblr is an AR online platform that creates, discovers, and shares AR experiences for businesses, personal users and students. The platform empowers its users, especially the youth to digitally build and visualise their own world and place it in real-life settings with only a few taps, dragging and dropping on their computing devices. Assemblr currently has more than two million projects created, globally. Assemblr is an alumnus of various renowned international accelerators including Techstars Hub 71, Facebook Accelerator and Plug And Play. It has also been featured as Apple App Store\u2019s App of the Day in more than 100 countries. \u201cWe have always been committed to make AR accessible for everyone. The partnership with Ficus Capital will help us to accelerate the adoption of Assemblr as we will reach more users across the region and subsequently the world, \u201cWe have put an extra emphasis on the design and usability of the platform\u2019s UI/UX to empower user to easily create their content and enliven their ideas,\u201d said Hasbi Asyadiq, Founder and Chief Executive Officer of Assemblr. Malaysia\u2019s MAVCAP launches two new tech-focused venture capital funds, targets total fund size of $35.83M"}, {"url": "https://technode.global/2022/12/16/ni-hsin-partners-with-sirim-to-set-up-lithium-ion-battery-recycling-plant/", "page": 43, "title": "Ni Hsin partners with SIRIM to set up lithium-ion battery recycling plant", "contents": "Malaysia-listedIn a statement, Ni Hsin said its wholly-owned subsidiary Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH) has inked the deal to set up the plant through public-private partnership (PPP) funding model. According to the statement, the SIRIM-Ni Hsin lithium-ion battery recycling pilot plant will be fully operational in 2023 with annual recycling capacity of 550 tonnes of lithium-ion batteries. For a start, the output will be sold to lithium-ion batteries manufacturers in the form of black mass. \u201cThe setting up of a lithium-ion battery recycling plant is the right step in furthering Ni Hsin\u2019s green mission in support of the government\u2019s commitment towards a more sustainable, resilient and inclusive development in line with the United Nations\u2019 2030 Sustainable Development Goal (SDG),\u201d said Khoo Chee Kong, Managing Director of NH EV TECH. He said the collaboration also aims to create an eco-system for a circular economy model in mitigating the impact on the environment and to spearhead the formation of a lithium-ion battery recycling policy working with the government of Malaysia. According to him, the current lithium-ion battery recycling market is estimated to be worth approximately $1.7 billion and is expected to increase significantly over the next ten years. \u201cIn the ASEAN region there is only one such recycling facility in Singapore with a recycling capacity of 14 tonnes of lithium-ion batteries per day. Being one of the first movers in this region makes Ni Hsin more attractive to investors who are beginning to consider sustainability factors in their investment decision-making process,\u201d he said. Meanwhile, SIRIM President and Group Chief Executive Officer Indera Dr Ahmad Sabirin Arshad said under the green technology master plan 2030 of Malaysia, several strategies were outlined to create a low-carbon and resource efficient economy, thus, in complementing this master plan, SIRIM will be embarking on various projects towards enhancing and promoting sustainability in line with the SDG. \u201cSIRIM is ever ready to work with any parties who are keen to explore any form of recycling business where we can contribute in terms of the latest technologies towards building our local recycling capabilities for e-waste,\u201d he said. According to him, under this collaboration, both companies will focus on the recovery of precious metals such as lithium and cobalt in 2024 and embark on lithium-ion battery manufacturing 2025, when the volume by processing more lithium-ion batteries from other nations. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of electric vehicles (EV) and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly mode. SIRIM is a wholly-owned company of the Malaysian Government under the Ministry of International Trade and Industry. The firm is an organization for technology and quality solutions specializing in industrial research, technology development and commercialization; certification, testing and inspection; measurement and calibration; training; standards research and development; technology-based entrepreneurship; and design advisory. Ni Hsin launches electric vehicle motorcycles in Malaysia"}, {"url": "https://technode.global/2022/12/16/ni-hsin-partners-vsd-automation-for-ev-motorcycles-distribution/", "page": 43, "title": "Ni Hsin partners VSD Automation for EV motorcycles distribution", "contents": "Ni Hsin EV Tech Sdn Bhd (NH EV TECH)Under the BPA, VSD shall act as the distributor for NH EV TECH in the local and international markets, Ni Hsin said in a statement. NH EV TECH shall also work exclusively with VSD in relation to enquiries or tenders from any government departments and government-linked companies on the TAILG EBIXON EV motorcycles initiated or referred by VSD. The rationale of the BPA is for Ni Hsin to leverage on VSD\u2019s established network of clientele in the energy and utility sectors, including government departments and government-link companies to promote and market TAILG EBIXON EV motorcycles. The BPA shall come into force for a term of two years, and may be extended for a further term of one year upon the terms and conditions mutually agreed by both parties. VSD is an established player in the energy sector with following credentials: certified bumiputra company with the Ministry of Finance (MoF) Malaysia; certified ESCO company specializing in solar photovoltaic (solar PV) and energy efficient systems and solutions; and registered PV Investor (RPVI) and registered PV Service Provider (RPVSP). Among the major customers of VSD are Tenaga Nasional Berhad, AEG, Prasarana, Petronas and Air Selangor. VSD provides end-to-end solution and services in monitoring, metering and protection of transmission and distribution infrastructure with leading technologies and strategic global partnership. The firm has secured the rights to develop and install charging system and infrastructure for electric vehicles (EV) for LADA in Langkawi, Malaysia. \u201cWe are delighted to have VSD as our partner to develop the distribution and market segmentation of the products in the local and international markets, \u201cWe are confident of their capability to market the products as they have the necessary experience, technical expertise and network to fulfill the tasks,\u201d said Khoo Chee Kong, Managing Director of NH EV Tech. According to him, VSD endeavors to sell 10,000 units of the products within the next three years. \u201cWe foresee a healthy demand for EV motorcycles over the next three to ten years, \u201cThis growth is supported by the region\u2019s e-commerce market, which is valued at $2.53 billion in 2022 and is expected to have a compound average growth rate of 20.6 percent over the five-year period to 2027 according to International Trade Administration data,\u201d he added. NH EV TECH is a wholly-owned subsidiary of Ni Hsin group , a public company listed on the main board of Bursa Malaysia Stock Exchange. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of EV and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Ni Hsin launches electric vehicle motorcycles in Malaysia"}, {"url": "https://technode.global/2022/12/14/teleport-raises-50m-to-extend-cross-border-delivery-services-in-southeast-asia/", "page": 43, "title": "Teleport raises $50M to extend cross-border delivery services in Southeast Asia", "contents": "TeleportIn a statement on Wednesday, Teleport said it will use the funds to induct additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and further invest in technology that allows anyone to \u2018Teleport It\u2019 in 24 hours across Southeast Asia. Since its inception in 2018, Teleport\u2019s core focus has been in serving business to business (B2B) customers of all sizes with fast, affordable air logistics solutions across Southeast Asia, supported by a unique mid-mile advantage through AirAsia Aviation\u2019s extensive network of passenger flights. \u201cOur mission from day one is to deliver consistently better than anybody else in Southeast Asia. We believe if we guarantee next-day speed at a cost anyone can afford, everyone will choose to \u2018Teleport It\u2019,\u201d said Pete Chareonwongsak, Chief Executive Officer of Teleport. \u201cToday we are profitable, larger, and growing faster than pre-COVID. We are battle-tested and believe a challenging environment is the perfect opportunity to build the leading cross-border logistics company in Southeast Asia,\u201d he said. According to him, key to Teleport\u2019s leadership in the next three years is the extension of its network coverage by air with the induction of A321F freighters starting in 1Q2023. He added that the firm aim to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market. Founded in 2018, Teleport is on a mission to enable everyone, from single merchants to the largest companies, to move things across Southeast Asia better than anybody else in 24 hours. Currently, the firm is present in Malaysia, Thailand, Indonesia, Philippines, India, Singapore and China. According to the statement, Teleport has quadrupled its intra-SEA market share in terms of cargo volume from 2 percent in 2021 to 9 percent as at the third quarter of 2022 and grew its e-commerce business six times year-on-year. The logistics venture of Capital A is also currently serving three of the largest marketplaces in Southeast Asia, namely Shopee, Lazada and Zalora. This was achieved by focusing to serve three key business segments across the Southeast Asian region \u2013 first, global freight forwarders looking for the widest regional network; second, e-commerce marketplaces seeking affordable mid-mile solutions by air, and most recently, consumers looking for affordable international next-day parcel delivery. AirAsia logistics arm Teleport invests in Indonesian trucking marketplace Kargo Technologies"}, {"url": "https://technode.global/2022/12/14/malaysias-wellous-to-list-on-nasdaq-in-merger-with-malaysia-based-spac-kairous-acquisition/", "page": 43, "title": "Malaysia\u2019s Wellous to list on NASDAQ in merger with Malaysia-based SPAC Kairous Acquisition", "contents": "Editor\u2019s note: Updated with additional information on Wellous\u2019 market value upon listing. Wellous Group LtdUpon closing, the combined company will be renamed \u201cWellous Group Holdings Ltd\u201d (the combined company) and expects to list its ordinary shares on NASDAQ. The combined company is set to have a market value of at least $304 million upon listing, depending on the outcome of the final redemption, Kairous Acquisition told According to the merger agreement, the merger consideration is $270 million, payable by newly-issued securities of the combined company valued at $10.10 per share. Additional earnout shares may be issuable to Wellous stockholders after closing, upon achievement of certain trading price-based and/or profitability targets. Cash proceeds raised will consist of Kairous\u2019s approximately $21 million in trust (assuming no redemptions by Kairous\u2019s existing public shareholders) which is anticipated to support the company\u2019s growth capital needs and to be used for general working capital purposes. After the closing, Wellous shareholders are expected to retain a majority of the outstanding shares of the combined company and Wellous will designate a majority of proposed directors for the combined company\u2019s board. The Wellous management team, led by its Co-Founders Andy Tan and Henry Chin, will continue to run the combined company after the closing of the proposed transaction. \u201cOver the past decade, I have evaluated over a thousand fast-growing companies in Asia, and I believe that Wellous is a hidden gem. The company understands the high-growth consumer wellness and nutrition industry in Asia, and successfully found the right brand story, products and marketing strategy to serve rising middle-income consumers,\u201d Joseph Lee, CEO of Kairous Acquisition said in a statement. \u201cBy innovatively leveraging on social techpreneurs and supporting them with its proprietary tech stacks, Wellous\u2019 business model is highly scalable across different markets. Wellous is a testament to the global investor community that Southeast Asia companies are capable of being profitable while maintaining high growth. With the proposed transaction, we strongly believe Wellous will grow stronger and increase its grand recognition internationally. \u201dFounded in 2016, Wellous is a health food and nutrition company that develops, manufactures, markets and distributes trusted and beneficial health and wellness products. The company said it offers only the best of nature, the most precious ingredients from a wide sourcing network. Based in Malaysia, Wellous\u2019s products and services are distributed through its tech-enabled distribution channels. \u201cWellous strives to bring its high quality, innovative and tailored health products across the world, and we are targeting future expansion opportunities in markets which go beyond Southeast Asia\u201d, Tan said. \u201cWe see a vast addressable market, totaling approximately $700 billion annually by 2027, as provided in a study by Grand View Research, due to increased demand for food and supplements that provide health benefits tailored to specific individual needs\u201d, Chin said. According to the statement, the boards of directors of both Wellous and Kairous have unanimously approved the proposed transaction, which is expected to be completed in mid\u20132023, subject to approval by Kairous\u2019 and Wellous\u2019 shareholders, regulatory approvals, among satisfaction of other conditions. Chardan is serving as M&A and Capital Markets advisor and Loeb & Loeb LLP is serving as legal advisor to Kairous. Robinson & Cole LLP is serving as legal advisor to Wellous. ICR is serving as Investor Relations and Public Relations for the proposed transaction. Kairous Acquisition Corp. Ltd is an Asia-focused special purpose acquisition company (SPAC) led by Joseph Lee, the founder and Managing Partner of Malaysia-based Kairous Capital. Kairous Capital is a regional venture firm focused on technology investments across China and Southeast Asia. Kairous Capital is an investor in Malaysia-based SPAC Kairous Acquisition starts trading on NASDAQ"}, {"url": "https://technode.global/2022/12/13/capital-a-launches-airasia-gifts-with-south-koreas-coop-marketing-groupon-for-airasia-super-app/", "page": 44, "title": "Capital A launches airasia gifts with South Korea\u2019s COOP Marketing Groupon for airasia super app", "contents": "Capital ACapital A said in a statement that it has unveiled its vision of a more community led experience on airasia super app, introducing features such as airasia chat, games and the newly launched airasia gifts \u2013 allowing the community of airasia members to connect, play and share. Capital A Chief Executive Officer Tony Fernandes said that it has been his vision to set up its own airasia community and engagement platform, especially a messenger service like airasia chat, even when the firm was just an airline. \u201cNow that we have evolved into a travel super app, it makes even more sense for us to push this through and introduce this to the world,\u201d it said. According to him, the firm has a database of 51 million travellers who are seeking for content, information, and entertainment \u2013 which are integral to the pre, actual and post-travel experience. \u201cEssentially, this community pillar, or what we would like to call airasia Republic, is the future of airasia super app and integral to the airlines, which will also include features to enhance customer engagement and experience,\u201d he said. He also said that the feature is a space where airasia brings the whole of Asean closer together, enabling the community to share information, engage and build meaningful connections, share creativity and learn from each other \u2013 thus creating a strong sense of community. \u201cAside from everything I\u2019ve mentioned, we will continue to enhance our ecosystem, creating a more self-sustaining engagement based user experience \u2013 making airasia Community truly an airasia way of life,\u201d he added. According to the statement, airasia super app users can now set up their own social profile in the community via the Profile section. The social profile is the heart of the community experience whereby users can engage in 1-to-1 chat, interact with other community members with similar passions and personalise the content they receive. Their social profile will enable them to interact with other travellers as well as those in their contact list via airasia chat as a messenger service. They can also engage with over 20 active communities ranging from foodies, travellers to adventure seekers and follow channels to get the latest news and promotions from the whole airasia ecosystem. Meanwhile, accessible only via airasia chat (a hub of the community), users are able to experience cross-border mobile gifting and select from gift categories which include:airasia products \u2013 flights, hotels, food; beauty, health and wellness (Watsons, BMS, Thai Paradise, Ogawa); entertainment (PlayStation Network, Razer); fashion (Zalora, Adidas, FootLocker); food and beverages (Starbucks, FamilyMart, Secret Recipe, Dominos); over 300 brands of mobile gift vouchers to choose from. Capital A Commercial President Colin Currie said the global mobile gifting or e-gifting industry is valued at $258 billion in 2020 and is projected to reach $1.1 trillion by year 2030. According to him, the airasia super app has set up the right infrastructure such as airasia chat, which can facilitate mobile gifting easily, especially cross-border gifting, which no other travel super app is able to offer. \u201cWe are happy to work with COOP Marketing to make it happen. And as we are in the season of giving, this is the right time for us to launch this in Malaysia, Singapore and Indonesia today, \u201cThe vision is to drive engagement and app stickiness on our platform, and in the future develop this into our own advertising platform,\u201d he added. Airasia super app completes Asean expansion with official launch of platform in Indonesia"}, {"url": "https://technode.global/2022/12/09/airasia-launches-new-low-cost-airline-in-cambodia/", "page": 44, "title": "AirAsia launches new low cost airline in Cambodia", "contents": "AirAsia Aviation Group Limited (AAAGL), the aviation arm of AirAsia said in a statement that the new airline will further cement AirAsia\u2019s brand in Cambodia and Indochina, providing AirAsia with greater access to its domestic market and most importantly connecting it to the international markets across Asean, North Asia and beyond. According to the statement, this new airline will allow AAAGL to operate to the various existing markets where it already has presence and operations to build scale, network connectivity and further reduce the cost of operations. It said AirAsia Cambodia aims to further stimulate the Cambodian aviation and tourism industries, launch exciting new destinations, create jobs and bring a true low cost operation to the country. Subject to obtaining the relevant regulatory approvals, the JV is expected to commence operations in late 2023. \u201cCapital A continues to focus on Asean where we know best and our brand is the strongest. Cambodia is the fifth Asean country where we are continuing our march of being the region\u2019s number one mover of people and cargo, and providing a linchpin of economic growth for Asean countries,\u201d said Tony Fernandes, Chief Executive Officer of Capital A. According to him, the value of AirAsia\u2019s network is an insurmountable asset, and it will be another flag of extensive connectivity in Cambodia and into the region, namely China, India and North Asia. \u201c2022 was about restarting our airline to pre-Covid levels. That machine is in place and will be completed by the second quarter of 2023. The second half of 2023 will be when we focus on our continued efforts in growth, \u201cWe are confident of profitability in the first year. As Cambodia is a market that is familiar to us and where we have deep infrastructure in place. That\u2019s why all our future airlines will be based in Asean. As this is an area we know well and can derive quick profitability and connect our very large network to the main points of Cambodia, namely Phnom Penh, Siem Reap and Sihanoukville,\u201d he said. He also said the company\u2019s mission remains the same \u2013 to democratise air travel and connect people and places, providing the best values, driving tourism and boosting economic growth in Asean. \u201cCapital A will continue to build on this growth and I am confident about the opportunities serving one of the most dynamic, fastest-growing economies in Asean both in the digital and aviation sectors,\u201d he added. Sivilai Asia Director Vissoth Nam said as one of the first countries to open up international travel with no quarantine in November 2021, Cambodia has led the way in Asean\u2019s air travel recovery journey post-COVID, with the rest of countries in the region following suit. \u201cAn increase in connectivity alongside best value fares, will certainly stimulate demand for air travel amongst the population due to increased airline and destination choices,\u201cThis will open the doors for students travelling abroad, supporting work-related travel, boosting trade ties, and providing a welcome boost for the growth of new small and medium enterprises,\u201d he said. AAAGL Group Chief Executive Officer Bo Lingam said setting up a majority controlled JV in Cambodia is a natural step for the group as AAAGL is the largest foreign airline and the second largest airline group overall operating into Cambodia in terms of capacity. According to him, pre-pandemic, AirAsia operated 90 weekly flights from Malaysia and Thailand and is currently flying about 49 weekly flights to Cambodia. \u201cSetting up a JV in Cambodia is in line with our Asean expansion strategy. We plan to operate mostly to our existing stations within the four hour radius from the Kingdom. AirAsia Cambodia will increase Cambodia\u2019s network offerings by launching new services to Asean, North Asia and beyond in the future,\u201d he said. \u201cThis is a true testament to a successful partnership between AAAGL and Sivilai Asia. We are excited about the prospect of delivering the best value low-cost air travel connectivity, experience and convenience to the seventh largest country in Asean,\u201d he added. AAAGL operates five routes to Cambodia from Kuala Lumpur to Siem Reap and Phnom Penh, from Penang to Phnom Penh (starting January 3, 2023) as well as from Bangkok (Don Mueang) to Siem Reap and Phnom Penh. Since entering the Cambodian market in 2005, AirAsia has carried over 10 million guests to and from Cambodia. Airasia super app completes Asean expansion with official launch of platform in Indonesia"}, {"url": "https://technode.global/2022/12/08/cloud-embedded-finance-and-no-code-low-code-expected-to-influence-financial-services-in-malaysia-in-2023/", "page": 44, "title": "Cloud, embedded finance, and no code/low code expected to influence financial services in Malaysia in 2023", "contents": "Cloud, embedded finance, and no code/low code expected to influence financial services in Malaysia in 2023, according to annual Partner Predictions report revealed by software as a service (SaaS) cloud banking platform The report noted that the impact of the pandemic will continue to be felt for many years to come and has been a key driver of the accelerated adoption of digital banking across Malaysia and the wider Asia Pacific region. The adoption of public cloud technology in financial services has also been accelerated by the pandemic, with the rapid growth of digital banking services across the region a direct result. Other trends and issues expected to have a significant impact on the Asia Pacific financial services industry include:\u25cf Low code / no code: This approach will drive faster speed to market for new digital banking products and services by empowering business teams to quickly protoype and launch without the need for complex development processes and specialised coding skill sets. \u25cf Big tech in banking: Already many big tech companies have moved into banking in Asia, with institutions like Grab, AEON, and the SEA Group all now part of conglomerates holding digital banking licences. This move by big tech will force banks to drive more effective digital transformation \u2013 customers now have higher expectations for their digital experiences, so traditional banks need to partner with technology providers to offer more competitive banking services. \u25cf ESG and ethical impact finance: We will see a shift towards ESG across Asia Pacific, which will not only drive traditional banks towards more inclusive composable financial products and services, but also keep sustainability in mind for the benefit of their customers. In Asia, Islamic banks will see growing interest from potential customers outside of the Muslim faith who have a keen interest in ethical finance. \u25cf The future of payments: Online, mobile, or digital payments have surged in Asia Pacific since the start of the pandemic, with Asia also having one of the biggest uptakes of e-wallets in the world. The year ahead will see a change in focus for banks around the payments theme, with greater emphasis placed on creating their own interfaces and making them more engaging, relevant, and interesting in order to increase brand loyalty, rather than integrating their products into external platforms. \u201c[In 2023], we expect more organisations to leverage cloud-based data and analytics to derive market insights and develop seamless, personalised customer experiences, \u201cIn Malaysia, we\u2019re helping Bank Islam build and deploy new services for customers that comply with Shariah/Islamic financial requirements. In Vietnam, we\u2019re working with TNEX to build application functions that promote healthy living, improve personal finance management, and drive financial inclusion,\u201d said Conor McNamara, Managing Director ASEAN at AWS. Meanwhile, Mambu Asia Pacific Regional Vice President William Dale said a number of the predictions made in last year\u2019s report have carried over into 2023, including a focus on embedded finance, digital payments and a switch from competition to collaboration. \u201cSo, we expect to see more of the same, but faster, bigger and more impactful. Within the Malaysian digital banking industry, we\u2019re seeing banks and fintechs starting to embed their services into merchant and super-app platforms, creating an ecosystem of services that work together seamlessly, \u201cThis has outstanding benefits for consumers, who can subsequently manage all their financial, personal, social and \u2018general life admin\u2019 tasks in one place. We expect to see more of this kind of approach in 2023 as we head towards the goal of making financial services ubiquitous,\u201d he added. Mambu Chief Technology and Product Officer Fernando Zandona, on the other hand, said the financial landscape has been extremely turbulent for some time. \u201cEconomic uncertainty, big tech companies redefining the financial services space, fintechs looking to be more nimble and efficient, banks looking to reinvent themselves, there is a lot going on,\u201cBut no matter what, it is going to be the end customers who decide which players win and continue in the market, and these customers will favour those who move fast and innovate. Embracing technology will be one of the top approaches that financial services will need to survive and thrive,\u201d he concluded. Malaysia cloud application platform Food Market Hub secures $8.5M in Series A round to boost Southeast Asia expansion"}, {"url": "https://technode.global/2022/12/07/mida-crest-team-up-with-dassault-systemes-to-enhance-cloud-based-collaboration-for-sme/", "page": 44, "title": "MIDA, CREST team up with Dassault Syst\u00e8mes to enhance cloud-based collaboration for SME", "contents": "Malaysian Investment Development Authority (MIDA) The partnership aims to create a steering committee to discuss the scope, requirements, roles and plans in supporting Malaysia\u2019s SMEs in their transformation journey to Industry 4.0, as well as enhancing cloud-based collaboration through adopting world-class Enterprise Resource Planning (ERP) solutions, Dassault Syst\u00e8mes said in a statement. \u201cThis timely initiative aims to elevate our local SMEs, and equip them with the latest technology to enhance their business efficiency through adopting world-class Enterprise Resource Planning (ERP) solutions,\u201d said Wira Arham Abdul Rahman, Chief Executive Officer of MIDA. \u201cWe take great pride in MIDA\u2019s involvement in this initiative to empower Malaysian firms and SMEs to fortify their technical capabilities and embrace modern technology, thus enabling them to progress and flourish, \u201cThis day marks the momentous occasion of the government\u2019s drive to propel industry players, especially domestic players and SMEs, to embrace the new technology and realise its potential by taking on the technological solutions of ERP,\u201d he added. According to the statement, the ERP solutions will leverage Dassault Syst\u00e8mes\u2019 virtual twin technologies via its 3DEXPERIENCE platform, specifically its computer-aided design software and Product Lifecycle Management (PLM) solutions, which are used in various industries including manufacturing, engineering and life sciences. \u201cThe MoU aims to provide a platform that allows Malaysian businesses to thrive in a competitive business environment, post-pandemic. We constantly seek opportunities to collaborate with the Malaysian Government, industry leaders and academia to advance scientific knowledge in the country, \u201cIn turn, we aim to strengthen homegrown innovation and research while we help local businesses navigate their challenges and opportunities in the new normal,\u201d said Jaffri Ibrahim, Chief Executive Officer of CREST. As the manufacturing sector is undergoing a significant transformation with a push to adopt and adapt value-added processes and digitalisation, this partnership will tap on the collective expertise of the parties to help local businesses via a three-pronged approach, namely enabling Industry 4.0 readiness, providing access to the global marketplace and adopting true cloud-based collaboration. The intent is to develop a programme to enhance the efficiency and operations of SMEs in Malaysia with the state-of-the-art Enterprise Resource Planning (ERP) solutions, aimed at integrating business processes and applications. \u201cAt Dassault Syst\u00e8mes, we have worked with many successful businesses across the globe to build connected ecosystems that allow them to tap on data to create actionable insights, and be competitive and efficient in the digital economy, \u201cWith enhanced connectivity, Malaysian SMEs can benefit from data-driven decision making, build closer relationships with customers and partners, and continuously improve their operations and processes as they compete in the global business arena,\u201d said Josephine Ong, Managing Director, Asia Pacific South, Dassault Syst\u00e8mes. Dassault Syst\u00e8mes, the 3DEXPERIENCE Company, is a catalyst for human progress. It provides business and people with collaborative 3D virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with its 3DEXPERIENCE platform and applications, its customers push the boundaries of innovation, learning and productionto achieve a more sustainable world for patients, citizens, and consumers.  Dassault Syst\u00e8mes brings value to more than 300,000 customers of all sizes, in all industries, in more than 140 countries. Malaysia\u2019s George Kent inks MOU with MDEC to promote growth of Malaysia\u2019s tech ecosystem"}, {"url": "https://technode.global/2022/12/06/malaysian-ewa-startup-paywatch-raises-9m-funding-led-by-third-prime/", "page": 44, "title": "Malaysian EWA startup Paywatch raises $9M funding led by Third Prime", "contents": "Malaysian earned wage access (EWA) service provider The round also saw participation from Hana Ventures (the venture arm of Hana Financial Group in Korea), Parkwood Corp. and notably, the endowments of Vanderbilt University and University of Illinois Foundation, Paywatch said in a statement. The firm, which currently provides its services in Malaysia and South Korea, plans to use the new funds to grow its product offerings, strengthen its presence in existing markets, and accelerate expansion efforts into new markets, including the Philippines and Hong Kong where it expects to launch in 2023. \u201cThough macroeconomic conditions are catching up to everyone globally, many low-income workers were already experiencing financial burdens. During our year in Malaysia, we have seen first-hand how much of a difference our service makes to employees\u2019 state of mind, \u201cFor companies, we have proven to increase recruitment and retention,\u201d said Richard Kim, Founder and Chief Executive Officer at Paywatch. Founded in 2020, Paywatch\u2019s earned wage solution has already reached a 50 percent engagement rate among its Malaysian users this year. Its flexible payroll system aims to promote financial inclusion by helping workers achieve financial security and gain financial access to major banks. The company has over 100 corporate clients, including multinational companies and global brands like Lotus\u2019s, KFC, Pizza Hut, Wilmar International, TGI Fridays, Outback Steakhouse, Metrojaya Department Stores and more. Its EWA solutions enable workers to access their already-earned wages early or mid-month for cash liquidity. What sets Paywatch apart is its partnership with major banks \u2013 the company is currently the only Central Bank-backed EWA solution in the region. Through these partnerships, not only are employees empowered to withdraw a percentage of their earned salary ahead of payday and proactively manage their finances with Paywatch\u2019s solution, but they are also bridged into the banking system, which opens more doors for future financial aid and opportunities and disrupts high interest payday lending practices and other predatory services. \u201cThe momentum Paywatch has generated in Malaysia this past year has been impressive, and it has served as a powerful proofpoint for how critical this product will be to improving financial opportunities and, ultimately, outcomes for workers, \u201cWe are excited to continue backing the company as it accelerates its growth and impact throughout Southeast Asia,\u201d says Michael Kim, Partner at Third Prime. The investments from Vanderbilt University and University of Illinois Foundation also underscore Paywatch\u2019s commitment to financial wellness. \u201cGiven Southeast Asia\u2019s large unbanked and underbanked population, there\u2019s an urgent need for EWA solutions in the market. Paywatch has emerged with a vision for financial empowerment, \u201cIts early success is addressing wage-related issues and is also uniquely positioned to scale product and market expansion in a way that drives broader financial inclusion,\u201d said Travis Shore, Chief Investment Officer of University of Illinois Foundation. In addition to growing its geographic reach in Southeast Asia, Paywatch is also focused on expanding the ways it can provide enhanced financial stability and broader financial inclusion at all levels of the workforce. Malaysia\u2019s Revenue Monster clinches $6.6M funding from SEA Capital"}, {"url": "https://technode.global/2022/12/06/rpg-commerce-founder-melvin-chee-on-supply-chain-innovations-origin-innovation-awards-qa/", "page": 44, "title": "RPG Commerce Founder Melvin Chee on supply chain innovations [ORIGIN Innovation Awards Q&A]", "contents": "In this \u201cOur vision is to build a new generation of consumer brands and be the world\u2019s most consumer-centric products company through internet & supply chain innovation. We want every single household in the world to know and love our brands and hence, we will continue building impactful, thoughtful products and brands. We know that the consumer cycle is going through an interesting cycle, tempered by caution in the face of economic turbulence, hence we want to be prudent and able to adapt in the environment we\u2019re in, blending newly gained digital fluidity with old-fashioned familiarity. \u201dI first started my career in Melbourne, Australia in a simple dropshipping experiment at the age of 18 where my first business was acquired and subsequently responsible for building three multimillion-dollar brands across different niches in e-commerce. I returned to Kuala Lumpur after establishing RPG Commerce, a house of brands that build, scale and manage a group of brands under its portfolio. I love building brands and we now serve 40 markets globally, including the US, Europe, UK and Australia. RPG Commerce is now a venture backed company, supported by SEA\u2019s leading VCs \u2013 Vertex Ventures (Temasek backed fund), East Ventures, UOB & RHL Ventures. Demand for quality and uniqueness in productsConsumer data. Changing trends in social mediaTrend toward sustainable products. We had a massive disruption with our supply chain, as everything was delayed and nothing was certain. We had to identify if risks of any kind exist in the network, assess the potential impact of these risks and put mitigation strategies into place. We worked very closely with our partners to stay resilient and adapt to major disruptions with better planning. Besides that, we were also not trained to be remote and had to reskill our workforces almost overnight. We switched from an offline model (office setting) to a 100 percent remote-working one and had to rethink our entire learning and development strategy. We reacted quickly to building more robust working processes and accelerated a trend in workplace dynamics. Thirdly, we also struggled to hire the right talent as we had to digitise our recruitment process quickly and needed talents who could work \u201conline\u201d when really it was something many of us did not have the experience in. However, we navigated the challenges with a different mindset and reframed challenges into opportunities \u2013 it required a lot of \u201cout of the box\u201d thinking and flexibility. During the lockdown, we also had a lot more eyeballs on the channels we\u2019re on, hence we were able to capitalise on the evolving needs of a consumer and this change was a huge opportunity for growth. As more consumers continue to favour online shopping, we automated as much as possible, whilst optimising the digital journey and prioritised digital investments in the pandemic. Yes for sure. Sustainability in business isn\u2019t just good for the environment and society but can also benefit the operations of a business. It may take an initial investment but I think overtime, we will save some cost by going green \u2014 for example going paperless, reusing existing materials or even upcycling our materials and products. Customers now more than ever are demanding for environmental responsibility from brands, hence its a critical element in business growth and success. There\u2019s never going to be a day where we\u2019re short of mediocre products, hence it\u2019s really important for us to build thoughtful and impactful products in society. This includes being sustainable so that there\u2019s longevity in our products with lesser wastage to the environment. With this in mind, it trains organisations to be in a more \u201cimpact-driven\u201d mentality when it comes to building products and running campaigns and marketing activities, so that we\u2019re not just doing it for a single period in time but rather focuses on a long term success. Besides that, we are constantly working towards impactful products for every household, and that is not just creating new products \u2013 we\u2019re also putting a lot of effort into upgrading existing ones. For us, a successful product launch involves preparing for its impact on our existing customers and our organisation. While it\u2019s exciting to also capture prospective customers, we really want to assess the impact of what new launches/features/product would mean to existing customers. For example, one of our brands, Cosmic Cookware. We started having only one SKU for the brand and that lasted almost a whole year. During the one year, we are focused on tweaking the same product over and over to be the best version it could be for our customers. We want to only roll our products that have an impact in our customers\u2019 lives and our product team does a good job in going on ground to speak to them in order to build the best possible solution. We\u2019ve always been an e-commerce and have a strong online presence, and we know that our customers are gravitating towards blended experiences and are wanting a physical touch and connection with our brands. For 2023, we\u2019re testing out our offline presence and rolling out an omnichannel plan where we could diversify beyond what we did not achieve before. We no longer want to focus on just being single channel brands, but rather wherever our customers are at, we want to be part of that journey for them. This ORIGIN Innovation Awards 2022 winners: Startup Leaders of the Year and Corporate Sustainability Champions"}, {"url": "https://technode.global/2022/12/02/securities-commission-malaysia-revises-venture-capital-and-private-equity-framework/", "page": 44, "title": "Securities Commission Malaysia revises venture capital and private equity framework", "contents": "The The enhanced VC/PE guidelines aimed to foster a more conducive environment and increase the vibrancy of private markets, notably in VC and PE asset classes, SC said in a statement on Tuesday. The SC Chairman Awang Adek Hussin said the enhancement is the latest measure taken by the SC to help provide a diverse range of funding options for micro, small and medium-sized enterprises (MSMEs), especially start-ups and high-growth enterprises. This, he added, is essential to foster innovation among the MSMEs and further strengthen Malaysia\u2019s economic growth. Among others, the revisions focused on widening the investor base and enabling more capital to be made available particularly for early-stage start-ups encompassing the following:-1. Expand the pool of eligible investors that can invest in VC and PE funds, with the introduction of a new minimum investment test of MYR250,000 ($56,863). This will enable more investors, particularly angel investors, to pool their money into VC and PE funds.2. Streamline and simplify the registration requirements for both VC and PE firms. This is to encourage the establishment of new firms in Malaysia, both local and foreign, and deepen the professional VC and PE talent pool.3. Make registration necessary only for firms that perform fund management activities with respect to VC and PE funds. As a result, entities which are strictly fund vehicles will no longer need to be registered under the VC/PE guidelines.4. Remove the 50-investor limit on VC and PE funds. This is to accommodate the evolving needs of the industry and the increasing use of other structures such as limited partnerships. According to SC, the enhanced framework complements the various incentives for VC investments that are currently available. These include tax exemptions for qualified VC funds as well as for VC or PE managers and deductions for qualified investments into start-ups made either directly or indirectly through funds. To qualify for these incentives, VC or PE managers must, amongst others, be registered with and seek certification by the SC, said SC. Securities Commission Malaysia registers two initial exchange offering operators"}, {"url": "https://technode.global/2022/12/02/87-percent-of-malaysia-consumers-want-a-better-online-experience-from-banking-services-providers-a-survey-shows/", "page": 44, "title": "87 percent of Malaysia consumers want a better online experience from banking services providers, a survey shows", "contents": "Confidence in digital banking is rising in Malaysia but consumers want a better online experience and more personalized offerings, according to the new Asia-Pacific focused Bank of the future survey revealed on Friday from Capco surveyed 999 consumers in Malaysia with a focus on Kuala Lumpur (46 percent of respondents) and selected urban areas to gauge their attitudes to banking services at a time of rapid change in the retail banking industry. The findings form part of a larger survey of nearly 5,000 consumers across five key markets in the Asia-Pacific region. Asked to identify areas where banks should focus to deliver a better online experience, Malaysia respondents selected mobile apps (61 percent), easy and clear navigation (60 percent) and money transfers (60 percent). Banking services that are more tailored to customers\u2019 individual needs also emerged as a key regional theme in the survey. Almost seven in 10 (68 percent) Malaysian respondents said they would at least consider sharing the personal data required to facilitate such enhanced personalization, including 28 percent who said they would \u2018definitely\u2019 share such data. Of those willing to share their data, respondents said they would allow access to location data (47 percent), life event data (46 percent), and health test data (41 percent). There was more reticence around wearables data (33 percent of respondents) and social media data (32 percent), and the least popular choice was data from other bank accounts (22 percent). Key themes to emerge from the Malaysia survey include:1. Malaysian respondents are concerned about sustainability \u2013 39 percent said the sustainability credentials of banking services such as their stance on climate action are \u2018extremely important\u2019, a markedly higher percentage than those responding to its Hong Kong survey (27 percent of respondents), for instance, though lower than in Thailand (52 percent).2. Rising confidence in digital banking over the last two years \u2013 78 percent of Malaysia respondents said their confidence in mobile and digital banking services has increased over the last two years, including 28 percent who said they were \u2018significantly more confident\u2019. Three-quarters (75 percent) of respondents now use mobile apps to access banking services, underlining the degree to which the future of banking services is digital. Other digital channels surveyed included desktop/laptop (59 percent) and wearables (9 percent); non-digital channels included branches (41 percent), phone (41 percent) and mail (15 percent).3. Consumers are open to the idea of banking services in the metaverse \u2013 30 percent of respondents were \u2018definitely\u2019 interested in buying banking services via the still emerging metaverse. The metaverse, which has the potential to be a significant banking channel over the next decade, is a more attractive option for the younger age groups surveyed, with the percentage of respondents stating a \u2018definite\u2019 interest increasing to 37 percent among 25 to 34 year olds. \u201cOur survey indicates that bank customers are looking for intuitive, transparent and frictionless digital experiences. Malaysian consumers are willing to consider sharing various kinds of data to unlock personalized products and services that align with their individual needs and values,\u201cBanks have an opportunity to reimagine their role in customers\u2019 daily lives, and in particular explore how hyper-personalization can more effectively align banking services within customers\u2019 lifestyles in order to address their ambitions and anxieties,\u201d said Paul Sommerin, Partner and Asia Pacific (APAC) Head of Digital and Technology at Capco. \u201cDigital-savvy, mobile-oriented consumers are playing a key role in reshaping banks\u2019 priorities and the wider banking ecosystem. New technologies are granting consumers unprecedented freedom to pick and choose how they engage with their bank(s), access more personalized services, and see a more complete single view of all their finances, \u201cAs incumbent banks and their competitors aim to support consumers\u2019 personal and lifestyle ambitions,our survey findings throw new light on the priorities that will define the bank of the future,\u201d he added. The survey was conducted online during September and October 2022 and collected responses from a total of 4,889 respondents in five Asia-Pacific markets. Individual samples sizes \u2013 Hong Kong: 707; Greater Bay Area (ex-Hong Kong): 1293; Singapore: 1,000; Thailand: 890; Malaysia: 999. Survey respondents were drawn from six age groups \u2013 18 to 24, 25 to 34, 35 to 44, 45 to 54, 55 to 64, and 65+ \u2013 and sample sizes were representative of age-related demographics in each market. Nine in ten companies in ASEAN face challenges in recruiting, nurturing and retaining tech talent, a survey shows\n"}, {"url": "https://technode.global/2022/12/02/al-rajhi-bank-malaysia-launches-digital-bank/", "page": 44, "title": "Al Rajhi Bank Malaysia launches digital bank", "contents": "Al Rajhi Bank Malaysia (ARBM)In a statement on Thursday, ARBM said Rize is built with state-of-the-art technology to provide a reimagined, end-to-end digital banking experience for its customers. \u201cA year ago, we shared ARBM\u2019s vision to build a customer-focused digital bank and our aspiration to become the #1 Islamic innovation bank in Malaysia. Today, we are pleased to announce the launch of Al Rajhi Bank Malaysia\u2019s digital bank\u2014Rize,\u201d said Arsalaan (Oz) Ahmed, Chief Executive Officer, Al Rajhi Bank Malaysia. \u201cRize was conceived by our love for innovation for our customers. At its core, Rize is a digital bank seeking to inspire and empower our customers\u2014whom we call Rizers\u2014to achieve their hopes and dreams and encourage friends and family to help them realise their goals, \u201cWhen Malaysians become Rizers, they get access to a reimagined banking experience powered by best-in-class technology. All a Rizers\u2019 banking needs will be made available on their smartphone without the need to go to a physical branch,\u201d he added. A wide range of Rize services are available from Thursday. The firm has an extensive product pipeline and more will be rolled out progressively. These include deposits, withdrawals, and transfers; account management and personal finance management; debit card application, purchase, and maintenance; ATM services and eStatements; personal financingRize offers personal financing options that its customers can afford and can be personalized for every one of their life goals. Personal Financing-i by Rize is a paper-less, hassle-free digital financing product that requires minimal documentation and no processing fee. The service takes only four steps and 15 minutes to having money in their account. With tailor-made personal financing plans, Rize enables Rizers to achieve their more, whether it\u2019s a newly renovated home, higher education, or a dream holiday. Rize has also introduced an exclusive feature in Malaysia that no other financial institution or fintech player offers. Rize Savings Pot is Malaysia\u2019s only savings pot with a profit rate, allowing Rizers to earn while saving for their goals. The more the users save, the more they will earn. In line with its mission to empower Rizers to achieve more, Rize Savings Pot allows multiple contributions, which means a Rizer can invite family and friends to chip into the pot to achieve common goals faster. \u201cFrom the get-go, we will offer a wide range of financial services as you download the app today. In time, we will have a robust marketplace powered by a market-leading embedded finance ecosystem, \u201cIt is our hope that, with Rize, people will be able to discover\u2014 and achieve\u2014their more. We are ready to serve all our new Rizers from today,\u201d OZ added. ARBM is a wholly owned subsidiary of the world\u2019s largest Islamic Bank, Al Rajhi Bank Kingdom of Saudi Arabia (KSA), and was locally incorporated in October 2006. Following its official launch in 2007, ARBM became the first Arab bank to start operating in Southeast Asia. The bank operates through a distribution network of 13 branches in Malaysia. The bank is part of a Shariah-compliant banking group that is instrumental in bridging the gap between modern financial demands and intrinsic values whilst spearheading numerous industry standards and development. GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2022/12/01/fitch-solutions-sees-passenger-ev-sales-in-malaysia-to-expand-rapidly-in-2023/", "page": 44, "title": "Fitch Solutions sees passenger EV sales in Malaysia to expand rapidly in 2023", "contents": "Fitch SolutionsThe research house said in a note that it forecasts passenger EV sales in Malaysia to increase by 45.6 percent in 2023 to reach an annual sales volume of around 4,449 units. It also expects plug- in hybrid electric vehicles (PHEVs) to lose market share in 2023 as the introduction of more battery electric vehicles (BEVs) offer consumers additional models to choose from. \u201cWe forecast that total EV sales as a percentage of total sales to breach the 1 percent mark by 2024 as an expected strong performance in both PHEVs and BEVs accelerates EV adoption,\u201d it said. According to Fitch Solutions, Malaysia has unveiled measures to promote and stimulate electric vehicle EV adoption through incentives. For instance, a road tax exemption for EVs has now been implemented along with a subsidy of MYR2,500 ($600) for EV charging infrastructure purchases by consumers. Furthermore, a 100 percent reduction in import duties on completely built-up EVs lasting up to December 31 2023 has been introduced. Besides, completely knocked down (CKD) EVs will be eligible for the suspension of duties until December 31, 2025 along with sales tax and excise duty exemptions which will further improve the affordability for consumers due to the inherently high taxes on importing vehicles in the country. it said Malaysia is well positioned to increase the assembly of battery packs as existing players in the country take advantage of potentially higher demand for batteries due to automakers ramping up their EV offerings. For example, Ni Hsin EV Tech Sdn Bhd officially unveiled its two TAILG electric motorcycle models in the personal Tailg Ebixon Bold and commercial Tailg Ebixon Torq categories on November 22, 2022, both of which are locally assembled at its facilities in Seri Kembangan, Selangor. Meanwhile, the BYD Atto 3 and e6 EVs will go on sale in December 2022, with deliveries beginning in the first quarter of 2023. The two EVs are expected to cost between MYR150,000 ($33,500) and MYR170,000 ($38,000). Following the opening of order books and more than 100 bookings on the opening weekend, the Great Wall Motors (GWM) Ora Good Cat electric hatchback has also officially launched in Malaysia. The Ora Good Cat is available in Malaysia in two trim levels: 400 Pro and 500 Ultra, with prices starting at MYR139,800 ($31,440) for the 400 Pro and MYR169,800 ($38,200) for the 500 Ultra. It is also noted that Volvo Car Malaysia (VCM) wants EVs to account for 75 percent of total sales by 2025. The XC40 Recharge Pure Electric is the first EV to join VCM\u2019s local lineup, with the company promising to launch a new EV in Malaysia annually for the next five years. VCM will continue to prioritize local production, and the XC40 Recharge Pure Electric is billed as Malaysia\u2019s first locally produced EV model. Kuala Lumpur City Hall (DBKL) has also ordered 60 electric buses from SKSBus Group, which will be delivered in stages beginning in 2022. MAN Truck & Bus (M) Sdn Bhd (MAN Malaysia) and Gemilang International Ltd (GML), a Hong Kong-listed bus and bus body manufacturer based in Malaysia, also showcased the MAN eBus chassis. Beginning in 2023, MAN Malaysia will offer zero-emission, all-electric bus chassis as well as conventional bus chassis powered by low-emission Euro V engines as the company continues to drive change in Malaysia\u2019s public transportation sector toward sustainable mobility. Swift Haulage Bhd and Volvo Malaysia also in August signed an memorandum of understanding (MOU) to introduce electric trucks to Malaysia. Petronas Dagangan Berhad (PDB) has also signed three MoUs with Gentari Green Mobility (Gentari), EP Blueshark, Blueshark Holding, and Handal Indah for the deployment of battery swap stations for two-wheeled electric vehicles and the establishment of charging infrastructure for electric buses. Tenaga Nasional (TNB), on the other hand, has partnered with Gamuda Land to construct two electric vehicle charging stations at Gamuda Land\u2019s Selangor property development projects. Both companies have signed an MoU to collaborate on the development of EV stations, or charging hubs, to be branded as Electron. Gentari also officially unveiled their EV charging station, which includes a 350kW supercharger, two DC fast chargers, and five AC chargers, in collaboration with EV Connection Sdn Bhd (EVC). The EV charging station is the first one in Malaysia to receive a license from the Energy Commission, and it is situated at X Park Sunway Serene in the Sungai Way Free Trade Industrial Zone in Selangor (EC). Installation of 10,000 EV charging points in Malaysia on track, 700 ready, according to ministry"}, {"url": "https://technode.global/2022/12/01/hong-kongs-fwd-partners-malaysias-artem-ventures-to-launch-10-22m-fund/", "page": 45, "title": "Hong Kong\u2019s FWD partners Malaysia\u2019s Artem Ventures to launch $10.22M fund", "contents": "FWD Group Holdings Limited (FWD Group)\u201cBy launching TIM Ventures, we hope to support early-stage entrepreneurs in Malaysia by not just providing them with financing, but also helping to connect them with the networks and expertise they need to succeed,\u201d FWD Managing Director and Group Chief Operating Officer Sim Preston said in a statement. \u201cWe hope to invest in businesses that share our vision as we work together on changing the way people feel about takaful,\u201d he added. The fund has already invested into four start-ups, including winners from the FWD Start-Up Studio, a pre-accelerator programme launched in 2021, with the aim of becoming a leading innovation hub in Malaysia. The companies are Senang, an on-demand subscription-based insurance company; Pewarisan, an online platform providing digital solutions for Islamic inheritance planning; Du-It: a Malaysia-based fintech company; and Blueduck: a zero-deposit insurance agency. \u201cThe launch of this fund, together with our pre-accelerator programme, FWD Start-Up Studio, signifies our continued commitment to the Malaysian market and the role we want to play in closing the takaful protection gap,\u201cThis initiative allows us to partner with exciting emerging talent and develop innovative new technologies to achieve a brighter, digital future,\u201d said Binayak Dutta, FWD Managing Director, Emerging Markets and Group Chief Distribution Officer. Ts. Mahadhir Aziz, Chief Executive Officer of Malaysia Digital Economy Corporation, said the agency welcome the establishment of this venture capital fund to support the growth of Malaysia\u2019s small and medium-sized enterprises (SMEs) operating in these sectors. \u201cWe will strive to ensure further effective collaborations are formed, to support this growing technology ecosystem in line with our new national strategic initiative, Malaysia Digital (MD), \u201cWe are particularly focused on the innovative Islamic fintech segment, where Malaysia has been a global leader for eight consecutive years,\u201d he added. FWD Group is a pan-Asian life insurance business with approximately 10 million customers across ten markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Hong Kong\u2019s Pickupp expands Malaysian footprint with first regional hub in Penang"}, {"url": "https://technode.global/2022/12/01/carsome-mobility-lab-unveils-five-up-and-rising-stars/", "page": 45, "title": "Carsome Mobility Lab unveils five up-and-rising stars", "contents": "Five mobility startups have presented their innovative pilot projects on Wednesday during the In a statement, Carsome said the five companies are Asia Mobiliti Tech (smart mobility solutions), Carmen Automotive (SG) (vehicle data analytics solutions), Moovby (peer to peer car-sharing marketplace), MyBump Media (leading crowd advertising platform) and SparexHub Genuine (car spare parts marketplace). Established in partnership between Carsome and Sunway Innovation Labs (iLabs), the four-month CARSOME Mobility Lab Accelerator Program is the first auto ecosystem-focused accelerator in Malaysia and ASEAN, that aims to support up and rising startups in their innovation, funding and scaling journey. \u201cWe look forward to continuously supporting these startups alongside Carsome, who have been a very engaging partner in strengthening the talent pool and accelerating innovation in our ecosystem. \u201d said Matt van Leeuwen, Chief Innovation Officer of Sunway Group and Director of Sunway iLabs. In addition to potential commercialisation of successful pilots, startups at the end of their respective pilot projects stand to receive an investment of up to $25,000 from the Carsome Mobility Lab, to further extend their impact and complement Carsome and Sunway in the wider automotive ecosystem. \u201cWe are honoured to play an integral part of the accelerator program and provide guidance to up-and-rising startups, \u201cThrough this program, we hope to find a partner capable of delivering cutting-edge innovation to strengthen our ecosystem and offering as we continue to deliver an elevated car ownership experience to our customers,\u201d said Carsome Co-founder and Group Chief Executive Officer Eric Cheng. Under the mentorship from Carsome and Sunway iLabs, these five startups brought forward unique propositions and presented their progress to Carsome and Sunway;s management team, prominent venture capitals, angel investors and industry leaders. Throughout the program, these five and other shortlisted startups were given access to a range of assistance and expertise including:\u25cf Mentorship and hands-on workshops organised by entrepreneurs and industry experts in collaboration with relevant Carsome and Sunway business unitsCarsome said the firm is committed to continue innovating the mobility ecosystem and collaborate with synergistic startups to drive business growth, create new products and services, and optimize productivity through project integrations within Carsome\u2019s ecosystem. It said these partnerships complement Carsome\u2019s ongoing efforts to eliminate industry pain points, instill greater trust and transparency in the ecosystem, and ultimately bring about a delightful customer experience. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, Carsome aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with subsidiary brands iCar Asia, WapCar and CarTimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, ownership transfer to financing and other ancillary services. Carsome currently has more than 4,000 employees across all its offices in Asia. Malaysia\u2019s Carsome banks on digital banking to complement existing car business"}, {"url": "https://technode.global/2022/12/01/uss-equinix-enters-malaysia-with-40m-data-center-investment/", "page": 45, "title": "US digital infrastructure firm Equinix enters Malaysia with $40M data center investment", "contents": "EquinixWith an initial investment of approximately $40 million, JH1 is scheduled to begin operations in the first quarter of 2024, providing 500 cabinets and 1,960 square meters of colocation space, Equinix said in a statement. According to the statement, the IBX data center will support Malaysian companies and multinationals doing business in Malaysia with access to Platform Equinix to bring together and interconnect the foundational digital infrastructure that powers their success. Equinix said Malaysia\u2019s digital economy is forecast to reach $34 billion in gross merchandise value by 2025, with the country on course to achieve a digital economy contribution to gross domestic product of at least 25.5 percent the same year. Thus, it opined that Equinix\u2019s expansion in Malaysia will unlock opportunities for Malaysian businesses expanding internationally and for multinational corporations pursuing growth and innovation in the Malaysian market. It also said Malaysian companies will benefit from the ability to accelerate their evolution from traditional to digital businesses by rapidly scaling their infrastructure, easily adopting hybrid multicloud architectures and interconnecting with strategic business partners within the Platform Equinix ecosystem of more than 10,000 customers. Equinix\u2019s expansion in Malaysia is also in line with the MyDIGITAL initiative launched by the Malaysian Government, which aims to provide a blueprint for the country to accelerate growth of digital products and services. \u201cWhile the digital economy represents a catalyst for the Malaysian economy, data centers are integral in supporting digital ecosystems and their sustained growth,\u201d said Onn Hafiz Ghazi, Chief Minister of Johor,\u201cWe welcome this investment by Equinix, along with the global expertise they bring to Johor, as well as the rich digital experiences and outcomes that will benefit this state and the country,\u201cWe are looking forward to working together, in transforming Malaysia into a digitally driven, high-income nation at the forefront of this region\u2019s digital economy,\u201d he added. This expansion marks Equinix\u2019s second foray into the Association of Southeast Asian Nations (ASEAN) following the recently announced plans to expand into Indonesia, allowing the company to address digital infrastructure demand critical to the region\u2019s digital growth. \u201cEstablishing a presence in Johor strengthens Equinix\u2019s leadership position in Asia-Pacific within a strategic market such as Malaysia, one of the most requested markets in Asia-Pacific by our global customers,\u201d said JeremyDeutsch, President, Asia-Pacific,Equinix. \u201cWe look forward to deepening our collaboration through future expansion, maximizing local businesses' digital growth potential with rich digital experiences and outcomes,\u201d he added. JH1, a two-story facility, will be located at Nusajaya Tech Park (NTP) in Iskandar, Johor. It is 15 kilometers from Singapore, allowing the data center to address excess demand from organizations in the city-state in addition to Malaysian domestic demand. Meanwhile, Equinix has the option of acquiring additional land in NTP to build a second facility, supporting Malaysia\u2019s digital growth aspirations. With the expansion, companies and multinationals doing business in Malaysia will be able to access Platform Equinix to store and distribute large volumes of latency-sensitive data and applications closer to end users and local markets. The Johor data center will also provide organizations with access to vibrant ecosystems made up of more than 2,100 networks and over 3,000 cloud, information technology (IT) and system integrator services that Equinix works with globally. When opened, the new IBX data center in Johor will increase Equinix\u2019s total global footprint of more than 245 data centers across 71 metros and 32 countries, providing Equinix\u2019s 10,000+ customers more ways to securely deploy, directly connect and effectively scale their digital infrastructure in a rapidly growing economy. It is expected to also present opportunities for further expansion into new metros and market segments in Malaysia. In Asia-Pacific, Equinix currently has 51 data centers across 13 metros across Australia, China, Hong Kong, India, Japan, Korea and Singapore. In addition, Equinix also announced expansions into Chennai in India, and Jakarta in Indonesia in 2022, strengthening its market leadership in the region. Malaysia\u2019s NCT Group partners Microsoft to accelerate digital collaboration for NCT Smart Industrial Park"}, {"url": "https://technode.global/2022/11/29/policystreet-partners-foodpanda-malaysia-to-digitise-delivery-partners-insurance/", "page": 45, "title": "PolicyStreet partners foodpanda Malaysia to digitise delivery partners\u2019 insurance", "contents": "Malaysia-based insurance technology firm Both parties said in a statement on Tuesday that all of foodpanda Malaysia\u2019s delivery partners classified as gig workers nationwide will be enjoying simplified insurance processes as part of PolicyStreet\u2019s commitment to close the insurance protection gap among gig workers. The benefit set to affect the tens of thousands of delivery partners is an extension of PolicyStreet and foodpanda Malaysia\u2019s efforts to insure and protect delivery partners social and financial welfare, which began in 2020. Through PolicyStreet\u2019s latest digital solution\u2013 the Gig Workers\u2019 Claims Portal, delivery partners can monitor their insurance coverage status, submit, and monitor their claims\u2019 progress while on the go. Developed to ease the insurance operations and processes, the proprietary technology can be rolled out to p-hailing companies nationwide in Malaysia and neighbouring countries such as Singapore and Australia. \u201cWhile the growth of the digital economy has made life infinitely easier for consumers, the delivery partners who power the industry bear the brunt of the risk of financial insecurity due to the industry\u2019s protection gap,\u201d said Lee Yen Ming, Chief Executive Officer of PolicyStreet. By developing innovative digital solutions, and with the launch of this new solution, he hopes to work towards ensuring the digital economy will remain sustainable for the long term by protecting the social and financial welfare of gig workers. \u201cWe understand that delivery partners are fluid in the p-hailing service provider they serve, oftentimes having to serve more than one p-hailing service provider to make ends meet,\u201cWe are working to onboard more p-hailing service providers onto the platform so gig workers can monitor their various insurance policies from their coverages across different various employers, all from one portal,\u201d he added. Leading the way as a responsible employer within the gig economy space, foodpanda Malaysia is among the first p- hailing companies to adopt the technology. Delivery partners from foodpanda Malaysia can rest assured knowing that in addition to being insured while on the job, the processes to monitor and claim have been made simple for them and their next of kin. \u201cFoodpanda Malaysia is proud to collaborate with PolicyStreet in protecting our delivery partners as they carry out the arduous and sometimes dangerous task of delivering food, groceries, and other conveniences to our customers,\u201d said Kelvin Chan, Director ofAccording to him, the partnership with PolicyStreet is a longstanding one, and the existence of the Gig Workers\u2019 Claims Portal was borne out of constant collaboration and feedback from both ends. \u201cThe parallel and symbiotic growth of PolicyStreet and foodpanda Malaysia is a paragon of the Malaysian tech ecosystem, and without them, we would not have been able to progress so far ahead in insuring our delivery partners,\u201d he added. PolicyStreet is an insurance technology group of companies providing cutting-edge digital insurance solutions to businesses and consumers in Southeast Asia and Australia. The firm works directly with over 40 life, general, and takaful providers globally to offer a comprehensive range of products and services. Foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. It is a leading delivery platform in Asia Pacific dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, as well as pandamart cloud stores to provide more on-demand options beyond the millions of food delivery options. The firm operates in more than 300 cities across 11 markets in Asia Pacific \u2013 Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia, and Myanmar. Deliveroo, Foodpanda and Grab jointly launch digital platforms industry association in Singapore"}, {"url": "https://technode.global/2022/11/25/mystartup-accelerator-programme-cohort-2-opens-for-registration-offering-funding-to-fuel-tech-startups-in-malaysia/", "page": 45, "title": "MYStartup accelerator Program Cohort 2 opens for registration, offering funding to fuel tech startups in Malaysia", "contents": "MYStartupMYStartup said in a statement, Cohort 1 graduated with an intimate Demo Day event held on November 4, where the top ten startups pitched their products and services to a panel of investors to secure investment opportunities. The Demo Day concluded with two impressive announcements \u2013 six startups that received a total of MYR1.57 million ($35,000) in investments from 17 angel investors and top five best startups that were selected to participate in the exclusive MYStartup Accelerator Immersion Programme. The Accelerator Program for Cohort 2 will commence with registration from November 14, 2022 to January 9, 2023. To meet the criteria for the Accelerator Program, the startup must be (i) an incorporated company in Malaysia; (ii) a tech startup with a scalable nature; (iii) in the stage of MVP or revenue-generating and; (iv) looking to expand regionally and globally. Following which, successful candidates will be selected to undergo MYStartup Accelerator\u2019s six-month intensive enrichment program that will support and bring value to early-stage startups by giving them access to experienced mentors, interactive workshops, and masterclasses by industry experts to help them scale their businesses. Executed by Cradle Fund Sdn Bhd (Cradle), the MYStartup Accelerator program is part of the larger MYStartup strategy initiated by the Ministry of Science, Technology and Innovation (MOSTI) in Malaysia where it aims to create global successful Malaysian startups throughout their market expansion and scaling-up journey. As one of the ecosystem drivers in the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030, the program plays a significant role in empowering economic growth by enriching the startup network to encourage high-impact collaborations and partnerships at the ecosystem level. \u201cThe success of Cohort 1 has validated our impact on the Malaysian startup ecosystem. As we strive to become one of the best ecosystems regionally and globally, we endeavour to continue providing local startups with world-class mentorship, guidance, funding opportunities and access to resources worth up to MYR2 million ($45,000) through the MYStartup Accelerator Program\u201d, said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle. According to the statement, the top five best startups of Cohort 1 that were selected to participate in the exclusive immersion programme include:1. Cult Creative \u2013 network platform that matches creatives with employers through data technology. \u201cAside from investment and funding opportunities, it is with the mentorship and real-world experience brought in by the Accelerator Program that provided us with the chance to be where we are today,\u201d said Shermaine Wong, Founder of Cult Creative. The startups that are selected for the immersion program will have the chance to connect with other players in the industry and ecosystem, and at the same time gain real-life insights into expanding their business regionally or globally by experiencing how other startups work. This immersion program is designed to ensure that these startups are well-prepared to enter any market for further business expansion. \u201cWe\u2019re excited to be one of the very few selected for the Overseas Immersion Program, where we will be engaging with a range of potential partners from across the globe\u201d, added Shermaine. The program\u2019s Cohort 2 will commence on November 14, 2022, targeting a more comprehensive range of technology verticals. MYStartup Pre-Accelerator Cohort 2 Program launched with 38 startups"}, {"url": "https://technode.global/2022/11/25/uk-based-fintech-giant-wise-sees-cross-border-payments-in-malaysia-still-lag-behind-aims-to-close-gap-country-manager-says-qa/", "page": 45, "title": "UK FinTech giant Wise sees cross-border payments in Malaysia still lag behind, aims to close gap [Q&A]", "contents": "London Stock Exchange-listed FinTech giant \u201cThe domestic payments system in Malaysia has grown by leaps and bounds in the last decade, thanks to innovations in real-time payments infrastructure like \u2018DuitNow\u2019 and the emergence of digital-first payment methods like e-wallets,\u201d Wise Malaysia Country Manager Lim Paik Wan told Although Wise did not apply for the digital banking licenses in Malaysia and in Singapore, the FinTech firm is looking to expand its businesses in these two countries and regionally. On WednesdayEarlier this month, Wise announced that it has received a capital markets services license in neighboring Singapore, from the Monetary Authority of Singapore (MAS), which will enable the firm to bring its new investment product, Assets, to Singapore in the coming quarters. Currently available in the UK, Assets gives Wise business and personal customers more choices about how their money is held, and potentially earn a return on their money in over 50 currencies. Last month, Wise also said it is bolstering its Asia ambitions, with the company on track to hit over 400 employees in Singapore by the end of 2022, doubling its team here since the start of the year. Co-founded by Taavet Hinrikus and Kristo K\u00e4\u00e4rmann, Wise launched in 2011 under its original name TransferWise. It said it is one of the world\u2019s fastest growing, profitable tech companies. Currently, 13 million people and businesses use Wise, which processes over \u00a39 billion ($10.72 billion) in cross-border transactions every month, saving customers over \u00a31 billion ($1.19 billion) a year. Wise, one of British largest and best-known FinTech unicorns, came into the limelight last year when the money transfer firm opted to list in London through a direct listing, a rare method of going public pioneered by music streaming firm Spotify in the US in 2018. Rather than raising money in an IPO, Wise\u2019s private backers are selling their existing shares to the public, Wise\u2019s early investors include Peter Thiel\u2019s Valar Ventures and Andreessen Horowitz, among others. Wise, which makes money through cross-border transaction fees, has been profitable since 2017, according to earlier reports. In its 2021 fiscal year, the company doubled profits to \u00a330.9 million ($42.7 million) while revenues climbed 39 percent to \u00a3421 million. Trading at \u00a3616.6 per share, Wise has a market capitalization of \u00a36.32 billion at the time of writing. Meanwhile, in the interview with \nBelow are the edited excerpts:Wise is a global technology company, building the best way to move money around the world. Co-founded by Kristo K\u00e4\u00e4rmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise when our founders realized how much money it costs to transfer money between the UK and Estonia. It was here that Wise\u2019s mission; money without borders \u2013 instant, convenient, transparent and eventually free, was born. The Wise account is the most universal account allowing people to send, spend and receive money like a local anywhere they go, making it easier than ever to live a global lifestyle. It offers instant, affordable money transfers at the mid-market rate to 80 countries, the ability to hold more than 50 currencies in a multi-currency account and an accompanying debit card to spend in more than 150 countries. Another feature of the Wise account is the ability to get bank details for the UK, Eurozone, New Zealand, Singapore, The US, Canada and more. With just a few clicks, and without needing a local address in any of those countries, Malaysians can start receiving payments like a local from others in those countries. The main benefit of having a Wise account over a traditional bank account is being able to transact without foreign transaction fees or unfair exchange rates. With Wise, users always get the real, mid-market exchange rate and low fees across all our features. The Wise account is game-changing because when you look at the current offerings in Malaysia, it\u2019s often costly, difficult, slow, and non-transparent whenever you need to transact in another currency. This is where Wise stands out as an account that works easily for anyone that needs to transact in multiple currencies. So, whether you work or have family abroad, pay for overseas mortgages, shop online at international stores, a traveler, an international student \u2014 Wise lets you manage your life between countries and currencies with financial ease in a low-cost, convenient manner. People are often unaware of the hidden charges associated with foreign currency transactions. Consumers think they\u2019re getting a better deal than they actually are, or they don\u2019t realize how much costs they pay for exchange rate mark-ups. With foreign currency transactions, there are typically two costs:a. The upfront fee (the advertised cost). b. The exchange rate (the hidden cost)Banks and other service providers are not obligated to use the mid-market exchange rate to convert your money \u2014 in fact, many usually don\u2019t. Often, you will find that an undisclosed markup has been added to the exchange rate. The difference between the rates result in a hidden fee, costing people extra unknowingly when they send money. Up to \u00a3150 billion ($177 billion) is lost globally in hidden fees on foreign currency transfers yearly, which is an enormous problem and this is primarily due to the low awareness about costs associated with foreign currency transactions (transaction fee and marked up exchange rate). An independent report from Edgar, Dunn and Company, with research undertaken in January 2021, shows that over \u00a3150 billion is paid in fees to traditional banks each year. These fees are either extracted through an exchange rate mark-up or a rate mark-up plus additional fee. The same research shows that only 4 percent of surveyed bank customers understand what they are being charged in these transactions. In Malaysia, our study revealed that Malaysians had spent MYR10.5 billion ($2.29 billion) in total card fees (card ownership and miscellaneous fees, transaction fees and exchange rate margin fees) when shopping overseas from 2015 to 2020 and MYR1.5 billion ($327.8 million) was paid in transaction fees and hidden exchange rate markups yearly when shopping overseas, based on yearly average calculated from the total amount on card transaction fees and exchange rate margin fees only on overseas card spend from 2015 to 2020. Wise doesn\u2019t markup the exchange rate. We use the mid-market rate which anyone can look up on Google and Reuters, always show our fees upfront and only charge customers a low, upfront fee. Wise customers are anyone who needs to spend, send, receive and manage money in multiple currencies. For example, we would see expats who live in Malaysia needing to send money back home. We would also have locals who may have lived overseas previously, or have family living abroad, and have a need to send or receive money in multiple currencies quickly and cheaply. There are also people who often shop from international sites using Wise, as well as avid travellers who need a low cost, transparent way to make purchases while abroad. The domestic payments system in Malaysia has grown by leaps and bounds in the last decade, thanks to innovations in real-time payments infrastructure like \u2018DuitNow\u2019 and the emergence of digital-first payment methods like e-wallets. Domestic digital payments today are convenient and fast, but cross-border payments, however, still lag behind in terms of cost, speed, convenience and transparency. Our focus is on solving the cross-border payments problem as we see a gap in the market for a low-cost, fast, easy and transparent way for people in Malaysia to manage their international transactions. One of the biggest challenges is hidden fees awareness. Because foreign exchange markup is rarely stated, we call this the hidden fees problem and even have a price comparison tool on our website for customers to know what it should really cost. Our teams also work hard to understand customer behaviour and develop campaigns and content that bring awareness to this problem so people can make informed choices on what\u2019s right for them. Secondly, continuing with the theme of understanding customer\u2019s needs is making sure our product is relevant for local needs. Our users expect the best experience with sending, spending or receiving foreign currencies, but the way they use us can differ slightly based on their location. This is especially crucial in Southeast Asia, a region that is incredibly diverse in language, culture and technology adoption. For example, can we make prices even cheaper? Can we make the customer journey even more seamless? How should we make payments move faster? We\u2019re always trying to improve our product and the customer journey that\u2019s relevant to the local context. To achieve this, we need to have a good understanding of the local user\u2019s needs as well as the local market knowledge. When you\u2019re committed to a market, it\u2019s important to have boots on the ground which enables us to work smoothly with local partners and regulators to unlock ways we can develop relevant solutions that make a real impact on customers\u2019 lives. So for example, one way we\u2019ve done this is to build partnerships to integrate with \u2018DuitNow\u2019 to make it easier and faster for people in Malaysia to receive money from abroad. Wise\u2019s mission is to build money without borders \u2014 instant, convenient, transparent and eventually free. The problem of high fees, hidden exchange rate markups, delays and fine print on cross-currency transactions is universal, and our focus is on solving this problem for everyone, everywhere. Within Asia, people from Malaysia, Singapore, HongWe think of expansion across two dimensions:Wise Business and Wise Platform are products we continue to build on, in addition to bringing them to even more places around the world, including Malaysia (where it\u2019s not yet available). For the most part, I\u2019d say that the global banking network we\u2019ve built to move money across the world cheaply, quickly and conveniently is what sets us apart. This has allowed us to make a significant impact on the speed, price, convenience and transparency of moving money around the world. In addition to serving consumers and businesses, our payment rails also powers the infrastructure of banks and financial institutions. For example, Monzo in the UK, Shinhan Bank in South Korea, and Aspire in Singapore use Wise Platform (our infrastructure offering for banks and non-banks) to offer their customers cheaper, faster, and more transparent cross-border payments. Competition and variety in financial services are always good things, so it\u2019s great to see both incumbents and new players innovate to respond to customer needs and make their services better. Within the cross-border payments industry, it\u2019s a massive space expected to hit $156 trillion this year according to Ernst & Young, and we\u2019re still only scratching the surface with much more to solve for the benefit of consumers. United Kingdom\u2019s Wise gets licence from MAS for investment product launch"}, {"url": "https://technode.global/2022/11/25/malaysian-central-bank-aims-to-issue-up-to-five-dito-licences/", "page": 45, "title": "Malaysian Central Bank aims to issue up to five DITO licences", "contents": "Malaysian Central BankBank Negara Malaysia (BNM) said in a statement it aims to finalise the policy document and invite the applications for licence in 2023. It also said up to five licences may be issued to applicants that meet all requirements. The exposure draft outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realise the following outcomes: inclusion \u2013 enhanced financial resilience of consumers whose protection needs are currently not served or not adequately served; competition \u2013 innovative products to cater to diverse protection needs; and efficiency \u2013 convenient and seamless consumer experience with greater cost savings. DITOs are envisaged to carry on insurance or takaful business wholly (or almost wholly) through digital or electronic means. This in turn is expected to drive new types of business and operating models to meet diverse consumer needs through wider product choices and more efficient service quality. In advancing these innovations, BNM continues to preserve a strong focus on sound risk management and consumer protection. The exposure draft specifies licensing and application procedures, as well as specific requirements on the eligible business models and distribution channels of DITOs. This is intended to promote sustainable business operations, while delivering value to policyholders. DITOs will have to comply with the existing requirements under the Financial Services Act 2013 (FSA) or Islamic Financial Services Act 2013 (IFSA). This includes standards on prudential aspects, business conduct and anti-money laundering and terrorism financing measures. As part of the licensing application process, BNM will require an applicant to submit acomprehensive five-year business plan, which includes, among others, planned measures to effectively manage technology and cyber risks in delivering its products and services. In line with the requirements applied to other financial institutions under the risk management in technology policy document, the applicant will also be expected to demonstrate its ability to protect consumer data and authenticate online transactions to mitigate fraud/cyber risks. Similar to digital banks, a foundational phase will be observed for licensed DITOs. During this period, lower minimum paid-up capital requirements and proportionate regulatory flexibilities will be applied to DITOs, commensurate with their early stage of operations. The foundational phase is applicable for a maximum period of five years, but no less than three years. At the end of the foundational phase, DITOs that are not able to demonstrate credible prospects for long-term viability or meet higher prudential standards consistent with that applied to all existing licensed insurers and takaful operators will be required to implement an exit plan according to the conditions set out in the exposure draft. Bank Negara Malaysia working with \u2018relevant authorities\u2019 to address concerns over BNPL"}, {"url": "https://technode.global/2022/11/25/ey-and-microsoft-expand-alliance-to-help-businesses-achieve-net-zero-goals/", "page": 45, "title": "EY and Microsoft expand alliance to help businesses achieve net-zero goals", "contents": "The EY said in a statement that through this commitment, EY and Microsoft will address a host of sustainability needs through technology, including improving carbon tracking and reporting, facilitating value chain traceability of carbon, and developing enterprise carbon management solutions that support carbon capture businesses. \u201cClimate change is no longer a risk event on the horizon, it is happening here and now. Many organizations set ambitious targets to get to net-zero by 2050, or earlier, but face significant challenges to get there, \u201cThis strategic EY-Microsoft Alliance expansion will accelerate the pace of innovation needed for clients to meet ESG requirements,\u201d said Matt Bell, EY Global Climate Change and Sustainability Services Leader. According to him, the expansion is underpinned by the 20-year proven sustainability and ESG service history of the EY Climate Change and Sustainability Services (CCaSS) EY teams. Leveraging leading-edge digital technology platforms (including Cloud for Sustainability) and the engineering prowess of Microsoft, he opined that this deepened relationship is well- positioned to assist some of the world\u2019s largest companies in tackling their biggest sustainability hurdles. To address the growing set of challenges that organizations face, EY and Microsoft continue to strengthen their platforms and solutions on which they collaborate. The expansive portfolio of offerings provides enterprise-ready services and solutions across the sustainability life cycle, designed to help clients address planning and roll-out of decarbonization and end-to-end ESG strategies that build trust and drive change. With a focus on decarbonization through solutions such as the EY Decarbonization Management Platform, clients can more clearly understand their current state and manage, monitor and report against it. They gain full visibility of carbon footprints to make sound future decisions and prioritize and monitor the right intervention pathways and investments for their business. Meanwhile, the suite of offerings facilitates emissions and offsets data capture, accounting, scenario modeling, risk assessment and external disclosures across asset portfolios and investments. This results in a lower risk transition that will accelerate clients\u2019 sustainability journey, helping them to model ESG strategies and support planning, management and roll-out of end-to-end decarbonization. Recognizing the complexity and variety of ESG data, EY and Microsoft are building a robust set of solutions unifying data intelligently, leveraging the Structured Data Manager and integrating with Microsoft Sustainability Manager. These solutions support better, more informed decision-making, financial analysis and external reporting for carbon and other critical ESG areas. Understating how the industry views ESG and sustainability performance requires a set of data intelligence, which is easily delivered with EY ESG IQ. This unique accelerator standardizes and enriches company rating data, calculates score gaps at the most granular level and makes rating improvements faster and easier. This is critical for end-to- end monitoring of supply chains. \u201cThe inherent flexibility of the Microsoft Cloud combined with deep EY sustainability experience and development of business applications will allow clients to rapidly adapt and implement solutions that help them to meet their sustainability goals,\u201d said Elisabeth Brinton, Corporate Vice President, Sustainability at Microsoft. \u201cThis modular solution approach provides a highly scalable platform that utilizes artificial intelligence, machine learning and predictive analysis, \u201cThis will help clients to meet ESG requirements as they evolve and address them through a life cycle of services for end-to-end decarbonization, transforming their operations to not only reduce their environmental impact and address regulatory requirements but also seize opportunities along the way,\u201d she added. By leveraging the knowledge and implementation capabilities of cross-functional EY teams and the power of the Microsoft Cloud, clients will be able to better assess and drive enterprise readiness for carbon tracking and traceability opportunities; obtain a clear understanding of both the technology landscape and data emission sources; identify digital opportunities to streamline data processing; evaluate industry standards; and identify opportunities to influence and lead. Malaysia\u2019s NCT Group partners Microsoft to accelerate digital collaboration for NCT Smart Industrial Park"}, {"url": "https://technode.global/2022/11/22/jt-launches-fresh-delivery-service-in-malaysia/", "page": 45, "title": "J&T launches fresh delivery service in Malaysia", "contents": "J&T Express MalaysiaIn a statement, the firm said the J&T Fresh Delivery service is an end-to-end delivery of fresh produce from Cameron Highlands to Klang Valley, ensuring that the produce reaches its destination in the shortest time possible. Through the fresh delivery service, J&T Express Malaysia seeks to expand its existing offering through the fulfillment of orders between local farmers and customers. The campaign, which offers delivery times as short as 24 hours, will run from November 22, 2022 to January 20, 2023. \u201cCameron Highlands has long been known for its fresh produce. I am pleased that the partnership between the local farmers and J&T Express Malaysia offers logistical solutions for the residents of Klang Valley to enjoy fresh products from Cameron Highlands,\u201cThe additional channel also expands the reach of the local farmers, allowing their fresh products to reach households in further areas,\u201d said Roy Zeng, Chief Executive Officer of J&T Express Malaysia. Meanwhile, J&T Express Malaysia Sales and Marketing Director  Yuan Kai Jin said the launch of the fresh delivery service demonstrates J&T Express\u2019 commitment to its mission of being \u201ccustomer-oriented and efficiency-based\u201d. \u201cTo that end, a dedicated team has been formed to continuously enhance the fresh delivery service through the reduction in delivery times,\u201d he said. Launched in August 2018, J&T Express Malaysia continuously seeks to adapt its offering to cater to the needs of the local markets. From the provision of standard delivery service, the company has since expanded to now include services such as J&T VIP, J&T International Shipping, J&T Next Day Delivery, J&T Express Document and J&T Fresh Delivery. J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express\u2019 network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the United Arab Emirates (UAE), Mexico, Brazil and Egypt. Adhering to its \u201ccustomer-oriented and efficiency-based\u201d mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all. Tencent-backed J&T Express raises $2.5B ahead of Hong Kong listing \u2013 report"}, {"url": "https://technode.global/2022/11/22/ni-hsin-launches-electric-vehicle-motorcycles-in-malaysia/", "page": 45, "title": "Ni Hsin launches electric vehicle motorcycles in Malaysia", "contents": "Ni Hsin EV Tech Sdn Bhd, a wholly-owned subsidiary of Malaysia-listed In a statement, Ni Hsin said the firm has unveiled two models of its TAILG EV motorcycles in the personal and commercial categories: the TAILG EBIXON BOLD and TAILG EBIXON TORQ. According to the statement, these TAILG EV motorcycles are imported and assembled at the company\u2019s manufacturing facilities in Seri Kembangan, Selangor Darul Ehsan, Malaysia. \u201cWe cannot emphasise the importance of our collaboration and cooperation with Dongguan Tailing Motor Vehicle Co. , Ltd, which has been instrumental in realising such a breakthrough,\u201d said Khoo Chee Kong, Managing Director of Ni Hsin EV Tech. \u201cWe envisage a  significant surge in demand for EV motorcycles in Malaysia and the ASEAN region in the near term. Our target is to sell 15,000 units of TAILG EBIXON EV Motorcycles a year over the next three years,\u201d he added. According to him, the firm has signed a memorandum of agreements with several esteemed organisations to assist us in the marketing, promoting and distribution of TALG EV motorcycles. Meanwhile, Malaysian Investment Development Authority (MIDA) Chief Executive Officer Wira Arham Abdul Rahman said the production or assembly activities of Ni Hsin reflects the competitiveness of our local company at presenting themselves as one of the innovative leaders of electric vehicles. According to him, this is also in line with the government\u2019s commitment in developing the EV technology ecosystem as outlined in the National Automotive Policy (NAP) 2020. \u201cDespite thriving to positioning Malaysia as a regional hub for the production of EV, the country is also heading towards the aspiration of reducing the carbon emission from vehicles,\u201d he said.  He also said as highlighted in the Low Carbon Mobility Blueprint (LCMB) 2021-2023, the government is promoting the use of EVs and other low-carbon transportation choices to lower greenhouse gases (GHG) emissions in the country and aiming to be a significant participant in the regional electric mobility market from 2030 onwards. According to the statement, Malaysia is a strategic and ideal sustainable investment destination for investors of EV related industries to enter the Southeast Asia market. To encourage the use of EVs, the government is providing incentives in the form of direct and indirect tax relief for the assembly or manufacturing of electric vehicles, parts and the development of EV ecosystems such as charging facilities. Leading by example, the government is also expected to adopt EVs in government and government-linked company (GLC) fleets. In light of global warming, Ni Hsin opined that EV motorcycle makes perfect sense. It said the pandemic has brought about a spike in e-commerce and hence the demand for delivery services. It also said EV motorcycles are more energy efficient as they convert 77 percent of electrical energy from the grid. According to Ni Hsin, the running cost and maintenance of EV motorcycles are 70 percent cheaper than internal combustion engine (ICE) motorcycles. Environmentally beneficial businesses could expect to reap huge dividends. While the carbon markets turn CO2 emissions into a commodity by giving it a price, it said these emissions fall into one of two categories: carbon credits or carbon offsets, and they can be bought and sold on a carbon market. In the case of the manufacture and sale of EV motorcycles, it said an organisation generates a carbon offset which can be sold to other companies to reduce their carbon footprint. It also said Malaysian stock exchange marketplace, Bursa Malaysia, will open a voluntary carbon market (VCM) exchange by the end of 2022 and these will help boost transparency and allow entities to buy carbon credits to offset their emissions. It said the new Bursa Malaysia VCM exchange will boost investments in high-quality offsetting projects such as planting trees or shifting to cleaner fuels. According to the statement, from 2020 to June 2022, MIDA approved 25 projects worth MYR10.69 billion ($2.34 million) to expand EV and its related ecosystems. The investments are channelled into EV parts and components manufacturing and assembly. Ni Hsin EV Tech is in the business of manufacturing, assembling, promoting and marketing of all kinds of EV and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of the company is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Installation of 10,000 EV charging points in Malaysia on track, 700 ready, according to ministry"}, {"url": "https://technode.global/2022/11/21/chinas-xinghuo-bif-appoints-malaysias-myeg-to-own-and-operate-xinghuo-international-supernode/", "page": 46, "title": "China\u2019s Xinghuo BIF appoints Malaysia\u2019s MyEG to own and operate Xinghuo International Supernode", "contents": "China\u2019s national blockchain Xinghuo Blockchain Infrastructure and Facility (XInghuo BIF) has inked an agreement with Malaysian listed digital services firm The agreement also entails the cross-border adoption and utilisation of the latest decentralised identifier standard (BID) to gradually create the Web3 of China and beyond, MyEG said in a statement. Xinghuo BIF is a global blockchain infrastructure devoted to a trustworthy digital foundation for the world. Up till now, 7 Xinghuo BIF supernodes cover main areas in China and 29 backbone nodes provide services to a broader range of industries and cities. Xiamen and Liuzhou Supernodes, Jiaozhou (Shandong) and Hengqin (Guangzhou) backbone nodes empower cross-border trade and provide international service overseas. International enterprises including SAP and Siemens partnered with Xinghuo to promote global blockchain innovative applications. Presently, Xinghup BIF resolves approximately 100 million blockchain identifiers daily, placing it as the most actively used blockchain platform globally. The international supernode will connect to MYEG\u2019s layer-1 permissioned public blockchain, Zetrix, which is fully compatible with Xinghuo. This enables Zetrix network\u2019s on-chain assets and transactions to cross seamlessly into Xinghuo, connecting governments, businesses and their people to a global blockchain-based economy. \u201cWe should cooperate more in building node network, seize the opportunity presented in the next generation of internet and empower industries with blockchain and other technologies, thus providing solid infrastructure and advancing innovative development,\u201d said Xiaohui Yu, President of China Academy of Information and Communications Technology (CAICT). The agreement marks a milestone achievement in Xinghuo BIF\u2019s global expansion since the memorandum of understanding that was signed on October 12th, 2021. The international supernode will connect to MYEG and develop blockchain infrastructure applications, which will increase the interconnectivity of infrastructure in countries, and enhance the capability of cross-chain operation. With its technologies and public service capabilities, Xinghuo BIF will provide blockchain services to Malaysia and other ASEAN countries and assist in cross-border commodity-tracing, identity verification and supply-chain finance. \u201dXinghuo BIF is already the most advanced and heavily utilised chain for industrial and trade applications, \u201cNow with the commencement of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web 3 evolution that will promote the establishment of international communities and facilitate global trade and finance,\u201d said Wong Thean Soon, Group Managing Director of MYEG and Co-Founder of Zetrix. Xinghuo BIF and MyEG\u2019s layer-1 public blockchain, Zetrix, had previously announced the introduction of cross chain blockchain identifiers (BID), Verifiable Credentials (VC), and on Chain Agreement signing. BIDs and VCs are critical building blocks of more interconnected Web 3, as they are the foundational tools that decentralised apps can call upon to deliver a myriad of new services. The agreement between the parties was befittingly signed on-chain using Zetrix\u2019s blockchain digital signing service. MYEG is Malaysia\u2019s premier digital services company. Having commenced operations in 2000 as the flagship e-government services provider, the firm continues to play a leading role in driving technological change in Malaysia and elsewhere in the region, bringing a diverse and complete range of innovations spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive, healthcare and financial services, among others. Committed to staying firmly at the forefront of the region\u2019s digital revolution, the firm has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across its main markets. Beyond Malaysia, the firm has operations in other key regional markets such as the Philippines and Indonesia. Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Its cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Owned by MyEG, the cross-border and cross-chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as BID and VC. Xinghuo BIF is a national blockchain infrastructure supported by Ministry of Industry and Information Technology and led by CAICT. The firm provides services mainly to industrial Internet, makes breakthroughs in Internet identifier, increases the application of blockchain and drives the economy. With open construction strategies and governance model, Xinghuo BIF positions as a national blockchain infrastructure that provides service to the world and its construction was started in Aug 2020. On Aug 3, 2021, CAICT released BIF-Core, which marks the start of its primary chain operation and global service. Malaysia-listed MYEG\u2019s Zetrix blockchain to launch mainnet"}, {"url": "https://technode.global/2022/11/16/visa-launches-google-wallet-for-visa-cardholders-in-malaysia/", "page": 46, "title": "Visa launches Google wallet for Visa cardholders in Malaysia", "contents": "VisaVisa said in a statement that its cardholders from Hong Leong Bank (credit) and Public Bank (credit and debit cards) can now make fast and secure purchases in stores, online, and in apps, and store their Visa cards within Google Wallet. Cardholders of HSBC (credit) and HSBC Amanah (credit) will also be able to add their cards to Google Wallet in the coming months. According to the Visa 2021 Consumer Payment Attitudes report, usage of mobile contactless payment solutions has increased for more than half (60 percent) of Malaysian consumers, citing safety (58 percent) and convenience (53 percent) as the top drivers for usage in comparison to carrying cash, because of the pandemic. In 2021, Visa found that 70 percent of all transactions were contactless, highlighting the rising interest and awareness among Malaysians. Ng Kong Boon (KB), Country Manager for Visa Malaysia said the impact COVID-19 had on the mobile payment landscape saw shifts in preference for digital payments, with more Malaysians opting for safer and more convenient payment solutions and having an overall positive attitude towards new payment trends. \u201cMobile devices are a key part of consumers\u2019 day-to-day lives, and the launch of Google Wallet in Malaysia will enable more Visa cardholders to make mobile payments in a country where contactless payments are extremely well-received,\u201d he said. According to him, in Malaysia today, more than seven in 10 Visa transactions are contactless payments and the firm is also rolling out new contactless acceptance in the country. \u201cThe introduction of Google Wallet will enable more Visa cardholders to make seamless and secure payments both online and face-to-face, propelling the country into becoming a cashless society,\u201d he added. Cited the e-Conomy SEA 2022 report, Google Malaysia Managing Director Marc Woo said  digital payments are gaining popularity and are expected to hit almost $200 billion in gross transaction value in Malaysia by 2025. \u201cWith millions of Malaysians now using their phones everyday to make payment, Google is excited to bring Google Wallet to Malaysia,\u201d he said. With Google Wallet, he said Malaysians can tap to pay in stores or checkout seamlessly online. \u201cThey can also easily access their boarding passes when they jet off for their year end holidays. Google Wallet helps keep everything protected in one place, no matter where you go,\u201d he added. Designed to create safe and secure payment experiences, Google Wallet works in tandem to make the consumer payment process safer, with multiple layers of security that is private by design and puts consumers in control of their data. Google Wallet uses tokens, a temporary alias for actual account numbers that keeps cardholder account information safe and is created when a card is added to Google Pay or the respective banking app. Consumer data is kept private as the tokenised account number is shared with merchants, instead of the actual account number. Visa cardholders will also be able to conduct transactions on WearOS devices and all Android devices running Android 5.2 or later and download the Google Wallet app in the Play Store. Singapore\u2019s ADVANCE. AI partners Visa to strengthen credit decisioning for unbanked and underbanked in Southeast Asia"}, {"url": "https://technode.global/2022/11/14/funding-societies-partners-with-proton-to-provide-dealer-financing-for-used-car-dealers/", "page": 46, "title": "Funding Societies partners with Proton to provide dealer financing for used car dealers", "contents": "Funding Societies\u201cDemand for personal vehicles saw an increase since the second half of 2020. Underlying this growth are concerns over shared transportation (Covid-19 health crisis) and accommodative government policies during the pandemic, \u201cWith Funding Societies\u2019 revolving credit facility, PROTON\u2019s dealers can tap into that growth by increasing their inventory for sale across by increasing their floor stocking inventory of used cars,\u201d Funding Societies Malaysia Country Head Chai Kien Poon said in a statement. In line with Funding Societies\u2019 mission to provide financing facilities to underserved, creditworthy SMEs, he said this revolving credit facility provides PROTON\u2019s dealers with a more seamless experience. \u201cThey may utilise the facility any time and anywhere upon its activation. Additionally, dealers will have access to our online supply chain financing system to manage their financing facility with us,\u201d he added. Funding Societies was founded in 2015 to empower SMEs in Southeast Asia by solving key pain points for small businesses in accessing financing which include the requirement for collateral, complicated and physical paperwork submission, as well as lengthy application process. As SMEs are the backbone of the nation\u2019s economy, Funding Societies are committed to solving the huge SME financing gap in Malaysia and the region. \u201cWith PROTON\u2019s sales volume increase over the past few years, we have seen an increase of trade-in or trade-up transactions,\u201cThrough the dealer financing service provided by Funding Societies, our dealers can finance the purchase of floor stocks to enable the trade-in transaction,\u201d said Wan Ahmad Fadzli Wan Mustafa, General Manager, Proton Edar. Since its inception in 2019, Proton\u2019s used car management (UCM) unit has introduced operating procedures and provided training for used car inspectors to manage transactions at each outlet and ensure services provided are in line with the expectations set by the brand. Currently, the company has 35 outlets retailing Proton certified pre-owned (PCPO) vehicles in the country. \u201cDealers who wish to apply for financing may do so via Funding Societies\u2019 online platform. They will be able to provide financing for up to 85 percent of the transaction value with repayment periods of up to 90 days, \u201cWith this financial facility, our dealers can grow their business by raising short-term capital to manage their cash flow and even use it for new car purchases from Proton Edar as well,\u201d concluded Wan Ahmad Fadzli. Vehicles sold under the PCPO programme undergo a thorough 201-point inspection and are assured to be free of any flood or major accident damage. Customers also enjoy one-year extended warranty which covers the engine and transmission as well as a one-time free basic service after six months from date of registration. With the increasing shift to online platforms, UCM has also set up a dedicated Proton used car website to attract tech-savvy buyers. Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. The firm is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. In seven years, it has helped finance over 5.1 million business deals close to MYR11 billion ($2.39 billion) in funding. Singapore\u2019s Funding Societies signs $50M credit facility with HSBC to drive SME growth in Southeast Asia"}, {"url": "https://technode.global/2022/11/09/installation-of-10000-ev-charging-points-in-malaysia-on-track-700-ready-according-to-ministry/", "page": 46, "title": "Installation of 10,000 EV charging points in Malaysia on track, 700 ready, according to ministry", "contents": "The Malaysia government\u2019s target to install up to 10,000 public charging stations for electric vehicles (EVs) in the country by 2025 under the Low Carbon Mobility Blueprint 2021-2030 is on track, with around 700 charging stations nationwide having been set up so far, according to the Ministry of International Trade and Industry (MITI). Muhammad Zulhilmi Ahmad, the industrial development director at MITI, said installation is being successfully made through collaboration with the private sector, national news agency reported on Wednesday. \u201cThere are certain companies, mainly government-linked companies, willing to champion [this green effort]. We hope the target can be achieved to support the development of the local EV industry,\u201d he was quoted as saying at Series 2 of Invest Malaysia titled \u201cThe Road to EV\u201d. The government has provided companies which are interested to build EV infrastructure in the country with tax incentives, such as pioneer status, as well as financial assistance. The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to build EV charging infrastructure and governments are implementing policies to promote EV industry in a bid to reduce carbon footprint.  Last monthUtility company Tenaga Nasional Bhd (TNB) expects the EV market to have grown to 18,000 charging points for 524,409 battery EVs on the road by 2030, with an annual electricity revenue of MYR1.25 billion ($265 million). This equates to potential reduction of 4.4 million tonnes of CO2 emissions by taking an equivalent number of internal combustion engines off the road. Stock exchange Bursa Malaysia chairman Abdul Wahid Omar said the EV industry is an exciting growth area for Malaysia, offering great potential to create economic, social and environmental gains. He noted that the Voluntary Carbon Market (VCM), to be launched by year end by way of auction, would play a key role in supporting the industries that could generate economic progress and environmental change. \u201cI strongly urge corporates to be among the auction\u2019s early participants to demonstrate their leadership in climate action,\u201d he said in his welcoming remarks at the event. The VCM would facilitate price discovery for new products by serving as a reference price for carbon credit trading, and generating tangible price signals for potential issuers to embark on domestic carbon credit projects, he said. TechNode Global shares research insights on Indonesia EV landscape"}, {"url": "https://technode.global/2022/11/07/touch-n-go-ewallet-expands-cross-border-payment-to-china-in-collaboration-with-alipay/", "page": 46, "title": "Touch \u2018n Go eWallet expands cross-border payment to China in collaboration with Alipay", "contents": "Touch \u2018n Go Group\u201cWe are pleased to continue our partnership with Alipay+ on cross-border payment solutions and expand our service territory beyond Singapore, Japan and South Korea,\u201d TNG Digital Sdn Bhd Chief Executive Officer Alan Ni said in a statement. \u201cTouch \u2018n Go eWallet is the first Malaysian eWallet which can be used for payments in China. This augurs well for all our users travelling there as they will enjoy the ease of making cashless payments, and in Ringgit Malaysia as well,\u201cWe expect our users to experience the same seamless convenience of using Touch \u2018n Go eWallet in Mainland China as how they would in Malaysia, and with the assurance that their transactions are safe and secure. We will continue to grow our acceptance to more markets in time to come,\u201d he added. Ant Group International Business President Angel Zhao said as businesses recover from the pandemic, Alipay+ is playing an important role in connecting global brands \u2013 both online and offline, big and small \u2013 with mobile-savvy consumers worldwide. \u201cThrough simple adaption, more than 2.5 million merchants around the world are able to access and better serve the growing user population of various leading digital payments providers, as digital transformation takes hold around the world,\u201d she said. According to the statement, over the past six months, Alipay+ has been gaining ground in markets including Southeast Asia, South Korea and Japan, connecting local and regional merchants with various digital payment methods. China has become the latest destination for users of Malaysia\u2019s Touch\u2019n Go eWallet in a drive to enhance a seamless and convenient payment experience for international visitors ahead of the Hangzhou Asian Games. The global merchant coverage of Alipay+ by sector includes over 1,000 online platforms, more than 10 major airports, over 90,000 convenience stores, over 360,000 restaurants, nearly 200,000 taxis and major hotel brands, department stores, duty-free shops and tourist facilities in Asia and Europe. Apart from China, all Touch \u2018n Go eWallet users can also make cross border payments wherever the Alipay+ QR code is displayed in Japan, South Korea, Singapore, United Kingdom, Italy, France, and Germany. The Touch \u2018n Go Group is Malaysia\u2019s leading consumer facing financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd (TNG), a wholly owned subsidiary of CIMB Group and TNG Digital Sdn Bhd (TNGD), a joint venture between TNG and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. The TNG Group of companies serve Malaysians who use its card, RFID and eWallet offerings to fulfil a host of daily transactions. TNG Digital was founded by Touch \u2018n Go Sdn Bhd and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. Established in 2017, TNG Digital is the owner and operator of Touch\u2018n Go eWallet, Malaysia\u2019s number one eWallet company, with more than 18 million registered users and over 1.2 million merchant touch points including DuitNow QR. Combining Touch \u2018n Go\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, the Touch \u2018n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Ant-backed e-wallet Touch \u2018n Go launches digital personal loan facility"}, {"url": "https://technode.global/2022/11/07/techmurah-partner-asia-pacific-university-of-technology-innovation-to-nurture-green-tech-youth-entrepreneurs/", "page": 46, "title": "Techmurah partners Asia Pacific University of Technology & Innovation to nurture green tech youth entrepreneurs", "contents": "TechmurahTechmurah and APU said in a statement they have signed a memorandum of understanding (MoU) to formalise the collaboration. They said through training programmes, university students will learn about the information technology (IT) gadgets refurbished market and sales-related knowledge. The programmes aim to nurture more young green tech entrepreneurs with sustainable income and help the lower income community. Techmurah and ARP Electronic Services Sdn Bhd Founder Danny Ng said the signing of the MoU will create a win-win situation for all as students, the university, Malaysia, people and Mother Earth will benefit from the collaboration. According to him, providing training to students, nurturing the next generation of green entrepreneurs would allow them to earn sustainable income. He opined that through this programme, the university will benefit as it helps to create a net-zero carbon emissions environment. \u201cFor every refurbished laptop sold, it will help to reduce carbon footprint by 350kg. For every refurbished computer monitor sold, this will reduce 233kg carbon footprint,\u201d he said. He said that using refurbished electronic devices is also in line with the United Nations Sustainable Development Goals (UN Sustainable Development Goals). \u201cPurchasing refurbished computers have reduced the cost of owning a computer for the lower income households, \u201cWhen there are more people using refurbished computers, this will helps to reduce electronic wastes and minimize the impact of electronic wastes to our environment. Therefore, Mother Earth is the ultimate winner,\u201d he added. He also noted that this training programme will benefit university students and nurture more future green entrepreneurs. Besides allowing them to earn sustainable and stable income, this will help to create a greener society, he said. Techmurah is a electronic devices e-commerce platform wholly-owned by ARP Electronic Services Sdn Bhd. Established in 2020, ARP Electronic Services is a green technology factory that specialises in refurbished, repair and remarketing of used IT gadgets. The firm is now one of the largest electronic devices reconditioned and recommerce platforms in the country. Through repair, recycle and refurbishment of used computers and laptops, the company makes it more affordable for Malaysians, especially the lower income families, to own a computer and at the same time creating a sustainable, greener environment. Malaysia\u2019s e-commerce platform Shoppymore eyes 10 times more sellers & regional expansion"}, {"url": "https://technode.global/2022/11/07/ghl-partners-alipay-to-connect-retailers-in-malaysia-with-mobile-first-asian-travelers/", "page": 46, "title": "GHL partners Alipay+ to enable travelers to use mobile e-wallets", "contents": " GHL Systems Berhad (GHL)An offering of Ant Group, Alipay+ is designed to enable global businesses, especially small and medium-sized businesses, to accept a wide range of mobile payment methods from various countries and regions, and better serve global consumers through simple technical adaption, GHL said in a statement on Monday GHL Malaysia\u2019s Chief Executive Officer Kevin Lee said built on GHL\u2019s long-term partnership with Ant Group, the latest collaboration with Alipay+ will further strengthen the firms shared goal of enhancing customers\u2019 experience by providing convenience in their payment journey, as well as helping their merchants especially small and medium-sized enterprises (SMEs), increase business opportunities as Malaysia reopens its borders. \u201cWe look forward to working closely with Alipay+ to continue expanding and offering the most comprehensive payments methods to all of our merchants across the region,\u201d he added. With increasing foot traffic and economic activities back on stream following the reopening of borders and removal of travel restrictions, a frictionless payment experience is crucial to improve customer experience. Coming on board as a launch partner, GHL merchant and top regional lifestyle tea brand Tealive is enabling 800 outlets in Malaysia to immediately accept payments by e-wallet partners of Alipay+. The Alipay+ integration will further support Tealive\u2019s efforts in improving customer convenience as well as strengthening its digital strategy. Ng Yau Chuan, Chief Marketing and Digital Officer of Loob Holding Sdn Bhd, which owns the Tealive brand, said Tealive is among the earliest adopters of the convenient e-wallet payment well before the pandemic. \u201cIntegration with Alipay+ is another key effort for Tealive to \u2018breakthrough\u2019 and deliver greater convenience to our customers. We are very excited and look forward to having stronger relationships with them,\u201d he added. Commenting on the partnership, Cherry Huang, General Manager for Global Merchant Partnership, South and Southeast Asia, Ant Group said the pandemic has accelerated the adoption and preference towards digital payments among consumers, more apparently so in developing Southeast Asian countries which were cash-dominant in the past. \u201cThrough working with local partners like GHL, we are committed to helping local merchants to further digitalize their payment functions and to achieve better operational efficiency and customer engagement with digital solutions like Alipay+, at the same time, creating a more seamless payment experience for the emerging mobile-first consumers,\u201d he added. As of October 2022, GHL has integrated Alipay+ solutions to over 40,000 merchant touchpoints in Malaysia. Users of Alipay+\u2019s partnering mobile wallets can look out for the Alipay+ signage at all GHL merchants including Billion, Econsave, Eraman, Family Mart, Lotus\u2019s, Mr DIY, MyNews, Village Grocer, Orange Convenient Store, Tealive and TF Value, and scan to pay with their home mobile wallets. GHL is an ASEAN\u2019s payment solutions provider reach spans across six countries; Malaysia, Philippines, Thailand, Indonesia, Singapore and Australia \u2013 stretching over a vast footprint of over 402,400 payment touchpoints across the region. The firm is the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing over MYR1.5 billion ($320 million) payment transactions per month. Apart from being Malaysia\u2019s largest prepaid credit top up and bill collection network, GHL aspires to catalyse sustainable livelihood of the micro small medium entrepreneurs (MSMEs) through financial and non-financial value-added services. The firm is a listed company with a market capitalization of over MYR1.1 billion ($230 million) as of November 5. The firm has been listed on Bursa Malaysia since 2003. Alipay+ offers unified global mobile payment and marketing solutions that connect merchants with multiple e-wallets and payment methods from different countries and regions by collaborating with global partners. The platform is developed by Ant Group, the owner and operator of Alipay, one of the world\u2019s leading digital open platforms. Alipay+ partners ComfortDelGro for foreign mobile payments in Singapore"}, {"url": "https://technode.global/2022/11/03/bigpay-launches-into-the-cryptocurrency-space-in-partnership-with-triplea/", "page": 46, "title": "BigPay launches into the cryptocurrency space in partnership with TripleA", "contents": "BigPayBigPay said in a statement on Thursday its users can seamlessly convert their crypto assets into cash to spend using their BigPay debit cards, without having to go through the typically tedious verification process. According to the statement, the cryptocurrencies currently accepted for top up are Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT), with plans to expand the accepted currencies in the near future. The latest feature comes as an addition to BigPay\u2019s existing two top-up methods \u2013 credit and debit cards. BigPay\u2019s launch of the new feature will be a transparent conversion process that does not entail hidden fees for the user as is seen in many crypto to fiat transactions. \u201cWe believe in a regulated financial system which takes the best of both crypto and traditional finance \u2013 to increase efficiency and value to the end-user \u201d said Salim Dhanani, Chief Executive Officer and Co-Founder of BigPay. \u201cWe want to enable users to interact with digital assets in a safe and secure way, and facilitate overall interoperability,\u201d he said. Most recently, BigPay added 3 new services to its Major Payment Institution (MPI) License issued by the Monetary Authority of Singapore (MAS) for account issuance service, domestic money transfer, and e-money issuance service in Singapore. Since its inception in 2017, driving financial wellbeing and access has been a core vision and mission of BigPay. In addition to helping over 3 million users improve their financial health, the company seeks to expand its services and introduce more financial products throughout the Southeast Asian region. \u201cWith over 300+ million crypto owners worldwide, TripleA is happy to work with BigPay to meet the demand for crypto top-ups,\u201d said Eric Barbier, Chief Executive Officer of TripleA. \u201cWith the addition of this new payment method, we are also pleased to continue enabling accessible and transparent digital financial services for BigPay\u2019s customers,\u201d he added. BigPay is a Southeast Asian fintech company founded in 2017. The company is committed to democratizing financial literacy, accessibility, and wellbeing in the region by providing accessible, transparent, simple, and secure digital financial services. From payments to international transfers, credit, micro-insurance, personal loans, and smart budgeting, the goal is to drive sustainable change for consumers and businesses across Southeast Asia.  TripleA is a licensed crypto payment gateway that helps businesses increase their revenue by enabling crypto payments and payouts, giving them access to the spending power of the fast-growing 300m+ cryptocurrency users. The firm\u2019s white label crypto payments solutions allow businesses from all industries to leverage the benefits of the growing crypto market without being exposed to volatility risk or having to handle or convert digital currencies. Their solutions are compatible with all wallets, easy to integrate and offer instant confirmation, locked-in exchange rates and chargeback protection. Licensed by the Monetary Authority of Singapore (MAS) and trusted by over 15,000 businesses, TripleA makes accepting crypto payments simple for businesses across the globe. Bigpay launches cash pickup services in Indonesia and the Philippines to drive convenient remittances"}, {"url": "https://technode.global/2022/11/01/datasonic-partners-meta-doers-world-to-explore-opportunities-in-metaverse-related-projects/", "page": 46, "title": "Datasonic partners Meta Doers World to explore opportunities in metaverse-related projects", "contents": "Datasonic Group BerhadDatasonic executive chairman Haji Abu Hanifah bin Noordin said in a statement that the collaboration between Datasonic and Meta Doers marks Datasonic\u2019s foray into the metaverse world focusing on education sector and healthcare industry. \u201cToday, we are part of the digitally connected world. With online learning becoming more and more popular especially after the pandemic, the education sector is exploring into integrating immersive technologies to transform the learning environment to be more interactive, creative and entertaining,\u201d he said. \u201cAt the initial stage, our targeted markets are primary school, secondary school, higher education and training agencies in Malaysia and ASEAN countries,\u201cDatasonic has excellent track record in many mission critical national projects. Datasonic has been producing one of the best of the best international passports in the world,\u201d he added. Meta Doers is part of the Doers Education Group, a specialist in online and offline education, metaverse project consultancy as well as advisory services, focusing on six core business sector \u2013 education, health, food, entertainment,energy and shelter industry. Doers Education Group is one of the pioneers in the education and training industry with more than 24 years of excellent track record in China, Hong Kong, Macau, Taiwan, Malaysia, Singapore, Thailand, Brunei, Indonesia, Philippines and Canada. \u201cAccording to a report by McKinsey & Company, investment in metaverse globally has increase from $57 billion in 2021 to $120 billion as of June 2022 and this number is expected to grow. We see great potential in metaverse application platform in many industries especially in education and healthcare industries in Malaysia and ASEAN countries,\u201d said Abu Hanifah. \u201cThrough the setting up of a 60:40 joint venture company, we will leverage on the expertise and competitive strengths of both parties to develop world class 3D virtual classroom where students can virtually meet and interact with classmates and teachers to achieve optimum learning outcomes,\u201d he said. \u201cThe new management of Datasonic is looking forward in the strategic partnership with Meta Doers to diversify into metaverse application platform in the education and healthcare industries in Malaysia and ASEAN countries and committed to generate higher revenue and profit to the group,\u201d he added. Datasonic is a security-related integrated solutions provider listed on the Main Market of Bursa Malaysia Securities Berhad since 2012. The firm specializes in multipurpose national ID, International Civil Aviation Organization (ICAO) compliant ePassport, auto gates with multimodal biometrics and facial recognition system, financial smart cards, integrated CCTV and surveillance system with video analytics and healthcare related ICT solutions. Datasonic has been the provider for Malaysia National ID (MyKad) project since 2012 and the vendor providing integrated ICAO compliant e-passport solutions to the Malaysian government since 2016. Datasonic is also ATM/Debit Card and Europay, Mastercard and Visa (EMV) credit and debit card personalisation system and solutions provider. Islamic finance sector sees growth opportunities in crypto and metaverse, says IslamicMarkets. com"}, {"url": "https://technode.global/2022/10/25/scaleup-malaysia-partners-profiiceo-to-launch-100-soonicorns/", "page": 46, "title": "ScaleUp Malaysia partners Profiiceo to launch 100 Soonicorns", "contents": "ScaleUp Accelerator Sdn Bhd (ScaleUp Malaysia)In partnership with Penjana Kapital Sdn Bhd (Penjana Kapital) and Malaysia Digital Economy Corporation Sdn Bhd (MDEC), 100 Soonicorns aims to be an impetus to drive Malaysia towards achieving its aspirations to create 5 Unicorns by 2025, ScaleUp Malaysia said in a statement on Tuesday. The programme is an ecosystem-driven catalyst that will prime local startups as they navigate their challenge-riddled journey to becoming Unicorns. Coined from the phrase \u201csoon-to-be unicorns\u201d, Soonicorns are startups with a growth potential to become Unicorns. Soonicorns are typically technology-based startups that display exponential scaling prospects and have received funding from an angel investor or venture capitalist. To participate, invited startups need to have raised at least $1 million from a Venture Capital firm or institutional investor; or have generated $2 million in revenue over the last 12 months. \u201cWith more than 2,500 active startups, the Malaysian entrepreneurship landscape is vibrant and has enormous potential to build disruptive businesses that are resilient, sustainable, and poised to be the nation\u2019s Unicorns of tomorrow, \u201cThis joint programme will enable us to take budding Soonicorns on our radar and mould them into Unicorns through a structured, pragmatic and targeted program,\u201d said Andre Sequerah, Managing Partner at ScaleUp Malaysia. \u201cThe higher you climb, the more obstacles you face and the lonelier the journey. The margin between success and failure is slim and without both guidance and peer support, startups either become stagnant or deteriorate over time, \u201cThe 100 Soonicorns program will help bolster these startups, providing them with the necessary support from resources as well as peers to steer them as they make their way to the top,\u201d he added. Proficeo Chief Evangelist Sivapalan Vivekarajah said 100 Soonicorns will act as a catalyst of growth for our startup ecosystem and a springboard of success for these high-potential startups that will uncover new economic opportunities for the nation. \u201cThe programme will also highlight these startups as Malaysia\u2019s most promising companies, placing them in the spotlight of global investors, \u201cWith the stakes high for these late-stage startups, the tailored guidance offered through 100 Soonicorn will provide our local startups with every opportunity for success,\u201d he added. 100 Soonicorns will be executed in three phases. The first phase will see the team identifying the top one hundred (100) startups in Malaysia with the propensity to become Unicorns. The startups will then be nurtured via a founders-supporting-founders syllabus which includes structured problem-solving, capacity development sessions, networking and like-minded peer-to-peer support, in the second phase. Finally, twenty (20) startups out of the 100 will be selected to go on to receive tailored learning, mentoring, regulatory assistance and funding from investors, government agencies and other ecosystem players. \u201cWe have always believed that developing an ecosystem requires more than just financial capital,\u201c100 Soonicorns is an initiative that provides the right stimulus to help up-and-coming entrepreneurs maximise their potential through a very exclusive programme designed to meet their needs,\u201d said Taufiq Iskandar, Chief Executive Officer of Penjana Kapital. Meanwhile, MDEC Chief Executive Officer Ts. Mahadhir Aziz said MDEC is committed to the national goal of creating five Unicorns by 2025 and the recent roll-out of the Malaysia Digital (MD) national strategic initiative will further catalyse this effort. \u201cMD seeks to increase overall ecosystem value, providing targeted assistance and resources that Soonicorns need, in their final push towards Unicorn status. Private-public effective collaborations such as this will be key,\u201d he added. Two cohorts of the 100 Soonicorns program will kick off in the first quarter of 2023 with 16 startup chief executive officers in each cohort. By the end of 2023, 100 Soonicoorns will be running six cohorts and supporting 100 chief executive officers. ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia \u2013 helping them position their business for exponential growth. The accelerator is founded by a team of experienced entrepreneurs, professionals and seasoned investors. Championing the concept of building \u201cPegasus\u201d companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a programme that includes in-class training, one-to-one coaching and equity investment for selected companies. Since 2019, the accelerator has built a proven track record in helping growth-stage companies secure funding from leading investors. Thus far, over 30 startups have graduated out of the accelerator, collectively raising more than $14 million in capital and one exit. ScaleUp Malaysia seeks to invest $1 million in ten startups"}, {"url": "https://technode.global/2022/10/25/whatsapp-down-worldwide-report/", "page": 47, "title": "Whatsapp down worldwide \u2013 report", "contents": "WhatsApp, a popular messaging platform owned by Meta, is facing a disruption globally with users facing problems in sending and receiving messages. According to several media reports, there is a sharp spike in users reporting the outage on Downdetector, a website that tracks online outages worldwide. Users from around the world reported the issue. More than 1.5 billion people across 180+ countries use WhatsApp to stay in touch with friends and family, anytime and anywhere, Whatsapp said on its Linkedin Page. WhatsApp has yet to update or make any announcements on its official website or social media platforms including its Facebook and Linkedin pages. At around 0750 GMT, Downdetector showed over 68,000 users had reported problems in the United Kingdom, In Malaysia, Whatsapp is trending on social media platform twitter. com. More than 886,000 tweets related to the keyword. Internet users complained about the incidents on Facebook around 3.50pm. The messaging service in the country is back at around 4.27pm local time. Whatsapp is not only free but also available on multiple mobile devices and in low connectivity areas \u2014 making it accessible and reliable wherever you are. It\u2019s a simple and secure way to share your favorite moments, send important information or catch up with a friend. WhatsApp helps people connect and share no matter where they are in the world, according to its Linkedin Page. \u201cFor many people in the world WhatsApp is a lifeline. We\u2019re looking for engineers, designers, researchers, product managers, technical program managers, customer ops, consumer marketing, and more. Come join our teams and make impact at scale,\u201d the company added. Elon Musk to acquire & privatize Twitter for $44B"}, {"url": "https://technode.global/2022/10/20/malaysias-k-one-to-conduct-cloud-computing-business-in-vietnam/", "page": 47, "title": "Malaysia\u2019s K-One to conduct cloud computing business in Vietnam", "contents": "Malaysian technology solutions provider The firm said in a statement that its wholly-owned subsidiary G-AsiaPacific Sdn Bhd (GAP) had entered into a term sheet with Vietnet Distribution Joint Stock Company (Vietnet) for the joint venture. The proposed joint venture shall operate through a joint venture company under the proposed name of G-AsiaPacific (Vietnam) Limited Liability Company. The joint venture firm will be 51 percent owned by GAP while the balance of 49 percent will be owned by Vietnet. The initial capital contribution of the joint venture company will be $300,000. GAP will make a cash contribution of $153,000 for its 51 percent shareholding, while Vietnet will make a cash contribution of $147,000 for its 49 percent shareholding. The proposed joint venture is in line with the K-One Group\u2019s ongoing cloud business expansion in ASEAN and Oceania. According to the group, the cloud market in Vietnam is one of the fastest growing in ASEAN, driven by its accelerating digital transformation. In addition, the multinational Cloud partners of GAP; namely Amazon Web Services (AWS), Google and Microsoft have big footprints in Vietnam for good reasons. \u201cIn this regard, the KOne Group should ride with these cloud giants to take its share of the fast rising Vietnamese cloud market,\u201d it said. With each party holding meaningful and about equal stakes in the joint venture company, it said both parties would be equally incentivized to charter the growth of the joint venture company with each party leveraging on its respective expertise to the best of its ability. According to K-One Group, Vietnet will focus in developing the business through their wide network while GAP will provide the technical support to secure the business. Time to market is of the essence and the proposed joint venture route is an effective way to quickly seize business opportunities and market share in a high growth and rapidly advancing technology business such as the cloud, it said. The firm also said the proposed joint venture will have immaterial impact on the net assets and gearing of K-One Tech for the financial year ending December 31, 2022 but is expected to contribute positively to the earnings of the K-One group for the financial year ending December 31, 2023. The parties shall execute the definitive agreements \u2013 joint Venture and shareholders\u2019 agreements on or before November 30, 2022. K-One Tech or the K-One Group is anchored by two main businesses: electronic manufacturing services (EMs) which primarily focuses on healthcare/medical devices, consumer electronic gadgets, internet of thing (IoT) products and industrial equipment and cloud computing. The EMS business is promoted under the K-One flagship while the cloud business is spearheaded by the GAP flagship. The current sales contribution ratio for EMS:cloud is approximately 60 percent: 40 percent. GAP is principally involved in the business of advanced Cloud technology which encompasses infrastructure as a service (IAAS), platform as a service (PAAS), software development, information technology (IT) consultancy and other professional services such as cybersecurity in relation to cloud solutions. GAP is a market leader and is one of the pioneers in cloud in Malaysia. It works closely with AWS, Google, Microsoft and Alibaba as its vital partners. VietNet was established in 2011 in Ho Chi Minh City as a value-added distributor (VAD) of cybersecurity solutions. Its offices are in Ho Chi Minh City and Hanoi in Vietnam, Cambodia, and Singapore. Keeping abreast with an evolving IT cybersecurity landscape, Vietnet has established itself as the leader in the cybersecurity industry in Vietnam. It partners with the leading cybersecurity vendors and value-add their offerings with pre- and post-sales services and professional cybersecurity advisory services to its resellers, partners and customers. Malaysia cloud application platform Food Market Hub secures $8.5M in Series A round to boost Southeast Asia expansion "}, {"url": "https://technode.global/2022/10/20/funding-societies-malaysia-appoints-chai-kien-poon-as-malaysia-country-head/", "page": 47, "title": "Funding Societies Malaysia appoints Chai Kien Poon as Malaysia Country Head", "contents": "Funding Societies MalaysiaIn his new role, he will be responsible for managing day-to-day operations of Funding Societies in Malaysia, as well asMeanwhile, Wong Kah Meng, Funding Societies Malaysia Co-Founder now assumes a regional role as Group Chief Operating Officer, Funding Societies | Modalku, where he now oversees the group\u2019s business across Malaysia, Singapore, and Thailand. According to the statement, Chai has been with the FinTech platform for almost four years. His past portfolios included leading the strategic investors division before heading the strategic projects and operations division. Prior to Funding Societies Malaysia, the Chartered Financial Analyst (CFA) and London School of Economics and Political Science (LSE) alumnus was attached to the Securities Commission Malaysia (SC), where he has experience across multiple capital market segments and led industry wide thematic reviews. \u201cI am honored by the trust and confidence of Kah Meng and the Group\u2019s management with this new role, and I look to continue the excellent work we have done so far,\u201d said Chai. \u201cWe have built ourselves a strong foundation since our inception in Malaysia in 2017, and I am excited to forge the future with the team as we continue to expand our products and services and extend our reach in the SME fintech landscape,\u201d he added. Funding Societies | Modalku Group Chief Operating Officer Wong Kah Meng said it has been a privilege to co-found and lead Funding Societies Malaysia over the last six years. \u201cI am humbled by the talent and commitment of our team, and their passion for pioneering digital SME financing in Malaysia. Kien Poon\u2019s broad experience and strong track record complement the amazing team we have in Malaysia and his appointment will no doubt help us to accelerate our mission to further serve the underserved, creditworthy SMEs in the\u201cI would like to take this opportunity to congratulate Kien Poon and I look forward to continuing working closely with him to scale Funding Societies Malaysia to new heights,\u201d he added. Under Wong\u2019s leadership, Funding Societies Malaysia, launched in 2017, is now the largest SME digital financing platform in the country, disbursing over MYR1.4 billion ($300 million), representing more than a 50 percent market share. This is spread across more than 17,000 financing deals, directly benefiting thousands of underserved Malaysian micro, small and medium enterprises (MSMEs). Simultaneously, the platform maintains a current default rate of 2.3 percent. In Malaysia, Funding Societies currently offers short-term financing products encompassing invoice financing, micro-financing, business term financing, dealer financing, micro-credit line, Islamic trade financing, as well as the recently launched BizFund. Funding Societies Malaysia is one of the entities under the Funding Societies | Modalku group. Collectively, the group has distributed MYR11 billion ($2.33 billion) through over 5 million transactions since 2015. Besides Malaysia, it also operates in Singapore, Indonesia, Thailand, and Vietnam. Earlier this year, Funding Societies raised $294 million through its Series C+ fundraising. It also announced a co-investment in Indonesia\u2019s Bank Index as well as the acquisition of regional payments solution, CardUp. Singapore\u2019s Funding Societies signs $50M credit facility with HSBC to drive SME growth in Southeast Asia"}, {"url": "https://technode.global/2022/10/18/indonesias-unicorn-kenangan-coffee-debuts-in-malaysia-report/", "page": 47, "title": "Indonesia\u2019s unicorn Kopi Kenangan debuts in Malaysia \u2013 report", "contents": "Indonesian unicorn The coffee chain Co-Founder and Chief Executive Officer Edward Tirtanata said the company\u2019s expansion beyond the Indonesian market started with Malaysia and it would be operating under brand name \u201cKenangan Coffee\u201d for its international outlet, national news agency Malaysia was chosen as the first country for its expansion plan due to the steady growth in its coffee culture, especially the grab-and-go concept, with many similarities shared between Malaysians and Indonesians in terms of taste profile, he said. \u201cThe food and beverage (F&B) sector\u2019s future also appears promising as Malaysia is transforming into a high-income digital economy with a key focus on digitalization, in line with our business operation. \u201cWe also started Kenangan Coffee with the aim of making quality coffee affordable and accessible for everyone and we are thrilled to be sharing our Indonesian coffee flavors with Malaysians,\u201d he was quoted as saying at the launch of the outlet on Monday. The company plans to open up to 10 outlets in Malaysia by the end of the first quarter of 2023 with four locations already in the pipeline and set to open by the end of this year. Edward also said the other four locations soon to be launched are the MyTown Cheras, Pavilion Kuala Lumpur, NU Sentral KL, and Sunway Pyramid in Petaling Jaya. \u201cPrior to entering new markets, especially within this region, we envisioned opening up to 100 outlets in the country and that is subject to the expansion rate for each country. For the Malaysian market, we do plan to enter the country in a big way,\u201d he added. Founded in 2017, Kopi Kenangan expanded to more than 850 outlets in 64 cities in Indonesia and officially became the first Southeast Asia company to achieve \u2018unicorn\u2019 status in the F&B category in December last year. The Indonesia-based coffee chain announced then that it has raised $96 million in the first closing of a Series C funding, giving the company a valuation of more than $1 billion. The company counts Tybourne Capital Management, Hong Kong tycoon Li Ka-shing\u2019s Horizons Ventures, Kunlun, B Capital, Falcon Edge Capital among its backers. Indonesia\u2019s Kopi Kenangan hits unicorn status with $96M Series C fundraise"}, {"url": "https://technode.global/2022/10/14/mdec-launches-malaysia-digital-climate-action-pledge-for-digital-economy/", "page": 47, "title": "MDEC launches Malaysia Digital Climate Action Pledge for digital economy", "contents": "Malaysia\u2019s lead digital economy agency the MDCAP is jointly developed by the MDEC in partnership with UN Global Compact Network Malaysia & Brunei (UNGCMYB), MDEC said in a statement on Thursday.  The first cohort of MDCAP signatories consist of 28 businesses from the digital economy sector. These signatories will have access to resources including a climate action playbook and carbon toolkit (including a calculator, online scoresheet and reporting tool), to help them take affirmative climate action plan. Communications and Multimedia Malaysia Minister Annuar Musa said Malaysia\u2019s digital economy reached 22.6 percent of gross domestic product (GDP) last year and is expected to grow beyond the initial target of 25.5 percent by 2025. \u201cThis makes the digital economy a key catalyst for the nation\u2019s shift to more sustainable economic practices,\u201d he said. He also said the role of the private sector in championing sustainable practices is crucial in achieving the nation\u2019s carbon neutrality aspirations. \u201cHowever, we recognise that some companies may find it difficult to relate sustainability to their own operations. Businesses, through MDCAP, will have access to a range of resources and best practices to help them act,\u201d he added. According to the statement, the pledge is aligned Malaysian government\u2019s commitment to be a carbon-neutral nationAs outlined in Twelfth Malaysia Plan (12MP), the government is aiming for a 45 percent reduction in greenhouse gas emissions intensity of GDP by 2030, compared to a 2005 baseline, and to achieve a 31 percent renewable energy mix byMDEC Chief Executive Officer Mahadhir Aziz said to leverage the vast opportunities of the green economy, businesses must adapt strategies, structures and processes to strengthen their ability to face emerging risks such as climate change. \u201cMDCAP is a very important step in supporting the acceleration the growth of the digital economy sustainably,\u201d he said. Signatories of MDCAP are required to undertake a minimum of two out of the following six commitments:\u201cPositive actions begin with strong intentions, and this is what we hope to enable with MDCAP,\u201cSustainability need not be overwhelming, it starts with the desire to be a better, responsible business, and the digital economy actors especially are pivotal change agents in enabling the fulfillment of national and global goals on the climate agenda,\u201d said UNGCMYB Executive Director Faroze Nadar. According to him, the resources and best practices provided have been tailored to be as relatable as possible across all spectrums of sustainability implementation maturity levels. \u201cWe hope this programme will be the catalyst for digital economy companies, to unlock the value of sustainability to increase their resilience and competitiveness and tap the growing sustainable trade demand,\u201d he said. Malaysia\u2019s MDEC to partner with Asean Fintech Group to facilitate funding opportunities to Malaysian tech companies"}, {"url": "https://technode.global/2022/10/13/mystartup-pre-accelerator-cohort-2-program-launched-with-38-startups/", "page": 47, "title": "MYStartup Pre-Accelerator Cohort 2 Program launched with 38 startups", "contents": "Cradle Fund Sdn Bhd (Cradle)This new batch received a total of 126 applications, and the top 40 early-stage startups selected will undergo a 6-month program training. The MYStartup Pre-Accelerator program is exclusively designed for early-stage startups seeking to validate their ideas and business models. Selected startups will have direct access to local and international mentors, resources, and market exposure with extended post-program and funding opportunities. The inaugural cohort which was launched on May 12, 37 startups were selected for the 6-month training. Each startup in the program received support and assistance to develop their knowledge and skills in building and growing their businesses through extensive masterclasses and mentorship sessions. From the initial pool of 37 startups, 15 startups were selected to pitch their business ideas to a panel of judges during a Demo Day held on Sept 27. \u201cThe MYStartup Pre-Accelerator Program is partof the larger MYStartup Strategy initiated by MOSTI where it aims to elevate the local startup ecosystem to the next level by providing them with seed funding, resources, and coaching,\u201d  Cradle Senior Vice President, Ecosystem Development, Ahmad Kashfi Alwi said. \u201cThroughout Cradle\u2019s nineteen-year journey in enriching and strengthening startups, we have often seen in the ecosystem, early-stage startups lack the expertise and proper guidance in their journey of scaling their businesses. \u201d\u201cCradle hopes that through initiatives such as the MYStartup Pre-Accelerator Program, we would be able to enhance and empower them with business acumen and financial expertise while linking them with the much-needed network and resources\u201d, he added. Listed as one of the 16 interventions under the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030, the MYStartup Program plays a significant role in MOSTI\u2019s aim of creating 5000 startups and five (5) unicorns by end of 2025 to empower economic growth through science, technology, and innovation. For more information regarding Malaysia startup\u2019s ecosystem, please visitMYStartup Strategy is a national initiative by MOSTI and powered by Cradle. It consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia. Among them are MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship, and MYStartup Mentorship. The program aims to support the long-term sustainable development and expansion of startups throughcontent that focuseson capacity building andhuman capital. It will ensure startups are thoroughly guided starting from the ideation stage, trained, supported, and opportunity to highlight their company profile to attract foreign investors. The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. This effort is also in tandem with MOSTI\u2019s target of creating 5,000 startups and producing five (5) unicorn status companies by 2025. Malaysia\u2019s BEYOND4 aims to build more profitable startups with its accelerator programs"}, {"url": "https://technode.global/2022/10/10/500-global-backed-storehub-to-focus-on-existing-markets-as-it-aims-to-reach-profitability-within-2-years/", "page": 47, "title": "500 Global-backed StoreHub to focus on existing markets as it aims to reach profitability within two years", "contents": "StoreHub\u201cIn terms of markets, we are currently focused on localizing our strategies and fortifying our position in the countries we are already in \u2013 Malaysia, Philippines, and Thailand \u2013 so that we can empower more SMEs to automate and grow successfully,\u201d StoreHub Chief Executive Officer and Co-Founder Wai Hong Fong told According to him, since its inception, StoreHub has reached close to net profitability \u201ca few times\u201d. \u201cEvery time we raised a round of funding, we would build a financial plan that is geared towards reaching net profitability within 18 to 24 months. In practice, we usually end up raising a new round before we get to the end of those cycles due to investor confidence in our unit economics as well as our clear drive to keep growing. We expect the next round to be similar,\u201d he shared. StoreHub announced last month it has raised $13.5 million in a pre-Series B fundraising round led by \u201cThe fresh funds will be used to continue scaling the number of stores that use our platform but in a sustainable and healthy way. Positive unit economics has always been a key focus of our scaling engine and we want to continue to grow sustainably in this manner,\u201d Fong said, when asked about the firm\u2019s immediate plans after raising the latest funding round. \u201cWe\u2019ve always been very stringent on making sure that any expansion we do is based on solid unit economics, a practice that has allowed us to build a financially healthy company. We\u2019ve learned that expansion into any market would require the right balance of capital, partners, and people that would allow us to keep growing healthily,\u201d he said, adding that StoreHub will also invest further into technology innovation that will address the challenges of retailers and restaurants in the new normal. Headquartered in Malaysia and co-founded in 2013 by Fong and Congyu Li, StoreHub started as an early pioneer of cloud-based SaaS Point of Sales (POS) systems in the region. The platform currently serves over 15,000 paying retail and restaurant outlets in Malaysia and across Southeast Asia, and has expanded its offering to include QR-based table ordering, loyalty, automated customer engagement, among others. In the last 12 months, StoreHub said it has processed over 128 Million transactions worth over MYR7.2 billion ($1.58 billion) in gross transaction volume (GTV), a 40 percent increase over the previous year. In the interview, Fong also shared some of his opinions on issues related to digitization within the F&B industry post-pandemic. Below is the edited excerpt:The pandemic has accelerated digital adoption, especially in Southeast Asia. Inevitably, it has transformed how businesses operate as well as how consumers consume. Since COVID-19 pandemic hit, a lot of innovation has happened in the digital space to the extent that we see digitization reaching new heights in being able to solve many core challenges businesses face \u2013 including F&B businesses. For example, there are now tools that let restaurant owners automate SMS marketing at a more affordable rate than engaging a real-life digital marketing expert. To address manpower shortages, there are also solutions that let restaurants automate the whole ordering and payment process \u2013 eliminating the need for staff at these touchpoints. Seeing how readily accessible tech solutions have become and how easily they can help solve many pain points restaurants are facing, F&B owners should automate as much as they can so that they can grow successfully and sustainably in an increasingly competitive landscape. As a region, Southeast Asia has always faced more barriers to digitization compared to the West. Cookie-cutter solutions that work in the West may not work here because of how culturally and socially diverse each country is. For example, what works for the Pad Thai stall down an alley in Bangkok may not work for the Mamak restaurants in Malaysia. Weaker currencies against the West also discouraged many from digitizing their eateries before the pandemic. This sheds light on the massive gap between where eateries are today in the region, and the heights they can reach with automation \u2013 to meet the demands of more digitally-savvy customers and at the same time, to remain competitive. The fresh funds will be used to continue scaling the number of stores that use our platform but in a sustainable and healthy way. Positive unit economics has always been a key focus of our scaling engine and we want to continue to grow sustainably in this manner. In terms of markets, we are currently focused on localizing our strategies and fortifying our position in the countries we are already in \u2013 Malaysia, Philippines, and Thailand \u2013 so that we can empower more SMEs to automate and grow successfully. Nevertheless, we\u2019re always open to opportunities and conversations on market expansion. With this funding, we will also be investing further into technology innovation that will address the challenges of retailers and restaurants in the new normal. We\u2019ve seen how painful the market and operational changes are that SMEs need to work through, and we want to ensure that we can empower and support them in an even bigger way. While the competition we face in each of the markets we operate in is unique, our edge lies in the innovation of the StoreHub platform, specifically in how it gives power back to SME owners to grow their businesses successfully and sustainably. Beyond this, we are driven to make life-changing digital solutions like ours accessible to the little guys \u2013 in other words, SMEs who are also the backbone of many SEA economies. While you may find cheaper products out there, there are few which deliver as much value as our ecosystem of solutions. Since our inception, StoreHub has reached close to net profitability a few times. Every time we raised a round of funding, we would build a financial plan that is geared towards reaching net profitability within 18-24 months. In practice, we usually end up raising a new round before we get to the end of those cycles due to investor confidence in our unit economics as well as our clear drive to keep growing. We expect the next round to be similar. Malaysia\u2019s StoreHub raises $13.5M pre-Series B round led by 500 Global"}, {"url": "https://technode.global/2022/10/07/new-mranti-park-master-plan-will-assist-malaysia-in-facing-industrial-revolution-4-0-says-pm/", "page": 47, "title": "New MRANTI Park Master Plan will assist Malaysia in facing Industrial Revolution 4.0, says PM", "contents": "The new MRANTI (Malaysian Research Accelerator for Technology & Innovation) Park Master Plan will spur Malaysia\u2019s capability to face the fourth Industrial Revolution (IR 4.0), according to the country\u2019s Prime Minister Ismail Sabri Yaakob. The master plan focuses on the latest technology, ranging from Internet of Things (IOT), Internet Protocol (IP) services and laboratories to contract manufacturing facilities with advanced technology, he said on Thursday. \u201cMRANTI Park will be equipped with modern infrastructure, including high-speed broadband and 5G technology, as well as incentives and funding opportunities. It is also designed to attract young professionals and create a stable pathway for highly skilled talents,\u201d he said when launching the MRANTI Park Master Plan at MRANTI Park in Bukit Jalil, Kuala Lumpur. \u201cIt is expected to create over 8,000 new job opportunities, and this is good news for the entire Keluarga Malaysia (Malaysian Family),\u201d he was quoted as saying. The prime minister said MRANTI Park plays a role in coordinating research and development (R&D) output to the market through an integrated ecosystem, which centralizes all technological and innovation activities locally, national news agency Bernama reported. Ismail Sabri said MRANTI Park saw cooperation with five economic corridors, namely the Northern Corridor Economic Region (NCER), East Coast Economic Region (ECER), Sabah Development Corridor (SDC), Iskandar Malaysia and the Sarawak Corridor of Renewable Energy (SCORE), in promoting and adopting R&D technology output, as well as commercialization. He said the park also attracted the interest of many technology companies, including Intervenn Biosciences, Dedikasi Aba Biosciences, BoomGrow, Spygene Laboratories, Vivantis Technologies and Reszon, among others. Five technology clusters \u2014 drone technology, agriculture, health, bioscience and IR4.0 enablers \u2014 are currently being developed in MRANTI Park, with an estimated gross development value (GDV) of MYR20 billion ($4.3 billion). The prime minister said these technology clusters are expected to bring a return of MYR2.8 billion ($602 million) through land leases by MRANTI to investors. \u201cThis effort will be driven by MIMOS Bhd, which plays a vital role in helping the country generate high added value from technology development and commercialization activities, particularly in the electrical & electronics (E&E) sector. \u201cThe E&E sector is the largest contributor to the country\u2019s exports, with a value of MYR455.7 billion last year, and has great potential to continue generating economic growth,\u201d he said. MRANTI is the one-stop research commercialisation agency with the resources to accelerate the commercialization of innovative ideas that will drive impact. As a connector, collaborator and catalyst, it connects problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. Malaysia\u2019s MRANTI to open new learning and development centre to ramp up technology-savvy talent pool and innovation portfolio"}, {"url": "https://technode.global/2022/10/06/malaysias-carsome-banks-on-digital-banking-to-complement-existing-car-business/", "page": 47, "title": "Malaysia\u2019s Carsome banks on digital banking to complement existing car business", "contents": "It came as a surprise when Southeast Asian used car platform While Carsome stayed low-key about its participation in bidding for a digital banking license prior to the central bank\u2019s announcement of winners, financing services have always been on its radar as the Malaysia-headquartered unicorn aims to enhance the used car ecosystem and car ownership experience for its customers. \u201cProviding financial inclusion through the digital bank complements Carsome\u2019s current efforts to digitalize and strengthen the used car ecosystem and car ownership experience,\u201d Carsome Chief of Staff Aaron Kee told Even before winning the digital banking license, Carsome has already collaborated with And now with the digital banking license, Carsome will be able to expand its offerings, according to Kee. \u201cCurrently, we have Carsome Capital, functioned to offer loan financing, dealer financing among other financial services. Along with this digital banking license, it enables us to expand our offering and serve a wider group of customers,\u201d he added. \u201cThrough digital banking, we hope to further advance the business on all fronts and provide a greater value proposition in the auto-financing space to further elevate the car-buying experience Malaysians have with Carsome,\u201d Kee said. Bank Negara Malaysia announcedMalaysia\u2019s move to issue digital bank licenses comes at a time when regulators across Asia including Singapore, Hong Kong, the Philippines, Thailand and Indonesia, are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. The demand for online banking services and digital payments has also increased significantly, thanks to the Covid-19 pandemic. Carsome, together with FinTech firm Jirnexu and digital remittance platform MoneyMatch, forms part of the consortium led by KAF Investment Bank which will be licensed under the IFSA.\nIn the interview, Kee also shared the opportunities Carsome sees in building a digital bank in Malaysia and the competitive edge it has against others. He, however, declined to comment on the launching date of the digital bank. Below is the edited excerpt:The digital bank, led by KAF Investment Bank, will play a role in supporting the segment where financial access is not available, in driving greater financial inclusion, especially for the unserved and underserved markets in Malaysia. Through this, we aim to democratize financial access and make it accessible for all. Carsome seeks to collectively work together with all parties under the KAF consortium in innovating and elevating the FinTech ecosystem in Malaysia. The target customer segments for the digital bank are those which are unserved and underserved segments that can be catered better through the effective use of technologies and \u201chigh value\u201d segments that are served reasonably well but can be served better through innovative solutions. Besides leveraging digital technologies such as cloud computing to provide seamless online banking services without the need for a physical branch, digital banking also capitalizes on human-centric and personalized touchpoints enabling hyper-localization to provide better services that are optimized for customers. Carsome leverages technology, data, and an extensive network to provide a great user experience for our customers across our business. Providing financial inclusion through the digital bank complements Carsome\u2019s current efforts to digitalize and strengthen the used car ecosystem and car ownership experience. Powered by data and technology, we have grown to become Southeast Asia\u2019s largest integrated car e-commerce platform today. Through digital banking, we hope to further advance the business on all fronts and provide a greater value proposition in the auto-financing space to further elevate the car-buying experience Malaysians have with Carsome. Carsome offers various financial services through Carsome Capital, from dealer and retail vehicle financing to know-your-customer (KYC) and down payment. Carsome Capital complements the existing ecosystem we\u2019ve created as it doesn\u2019t limit to retail customers (Carsome Certified buyers) \u2013 it also ensures our network of dealers and partners have sufficient capital to accelerate their business with our financial solution. Carsome in its mission to innovate the used car ecosystem wants to provide an end-to-end solution for the consumers. We are working with various banking partners to provide financing as an ancillary service that has not always been available especially for customers wanting to purchase pre-owned cars. The response has been encouraging, we\u2019re able to deliver a differentiated experience for ourThere are many differences between traditional and digital banks, such as the range of services and rates. Convenience, accessibility (to credit), competitive costs, and rate of loan approval would be among the main advantages a digital bank can provide. Digital banks also enable us to utilize alternative data points for credit scoring. This has, in turn, broadened the target segments who can benefit from almost-instant access credit without being bound by conventional restrictions. With our unique value proposition as Southeast Asia\u2019s largest integrated car e-commerce platform and data and tech capabilities, we will act as an acquisition partner to drive Islamic auto financing within the digital bank. Our end goal has always been promoting financial inclusivity from the perspective of vehicle ownership. Providing access to financial services is a major part of Carsome\u2019s vision to create the most trusted vehicle ownership ecosystem powered by technology and data. Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses"}, {"url": "https://technode.global/2022/09/29/malaysias-carsome-announces-group-wide-accelerated-profitability-plan-including-job-cuts/", "page": 47, "title": "Malaysia\u2019s Carsome announces \u2018group-wide accelerated profitability plan\u2019 including job cuts", "contents": "Malaysia-headquartered used car platform Carsome has announced a group-wide accelerated profitability plan to achieve its target of positive earnings before interest, taxes, depreciation, and amortization (EBITDA) within the next few quarters. This plan includes accelerating its integration with the newly-acquired iCar and WapCar ecosystem of companies, as well as \u201cemployee base optimization\u201d, and automation of processes to further increase group efficiency, Carsome said in a statement on Thursday. In light of macroeconomic challenges, this is crucial to continuously enable Carsome to adapt to customers\u2019 changing needs, the Malaysia-based unicorn said. As part of the \u201cemployee base optimization\u201d, Carsome said it will focus on improving productivity across the business, aligning resources with contributions to the bottom line, and enforcing stricter performance management. \u201cThis strategy will impact a certain number of employees, who will receive their full severance package and extended health benefits until the end of the year, together with support on their job search,\u201d Carsome added. In addition, the executive team is forgoing their salaries for the remainder of 2022 to help contribute to an ex gratia payment for departing team members, the company said. \u201cThe company remains highly appreciative of its past and present employees and will navigate the macroeconomic headwinds with them,\u201d it added. It is understood that less than 10 percent of the workforce will be affected. With operations across Malaysia, Indonesia, Thailand and Singapore, Carsome said it aims to digitize the region\u2019s used car industry by reshaping and elevating the car transaction and ownership experience. Together with Subsidiary Brands iCar Asia, WapCar and Cartimes, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, ownership transfer to financing and other ancillary services, promising to bring trust, transparency, and choice to our customers. Carsome currently has more than 4,000 employees across all its offices in Asia. Malaysia\u2019s Carsome appoints football legend & icon Eric Cantona as brand ambassador"}, {"url": "https://technode.global/2022/09/28/malaysias-beyond4-aims-to-build-more-profitable-startups-with-its-accelerator-programs/", "page": 48, "title": "Malaysia\u2019s BEYOND4 aims to build more profitable startups with its accelerator programs", "contents": "BEYOND4\u201cWe are here today to help you to achieve the dreams of being a successful startup funded by Cradle [Fund], supported by the ecosystem and in three years\u2019 time to create probably not a unicorn\u2026Unicorn is a very hyped-up word now, [but] profitable startup in the next few years,\u201d BEYOND4 Chief Executive Officer S. T Rubaneswaran said at the MYStartup Pre-Accelerator Cohort 1 Demo Day. Rubaneswaran also explained how the startup accelerator programs at BEYOND4 would help tech startups which include three phases \u2013 identify, build and scale. \u201cOnce you identify startups, the next thing you do is to build them. You\u2019re going to do a lot of things. your business strategies, partnerships, go to market, shared services, operations, finance, legal getting talents. . and fundraising,\u201d he said, adding that most startups do not get to the second part, which is the \u201cbuild\u201d stage. \u201cWe put up a plan and a list of companies, resources and services to help the top five that make it into this program to come to the next stage and to eventually raise between half a million to 10 million [ringgit] in fundraising, which we will do it together with them,\u201d Rubaneswaran explained during his opening speech. On Tuesday, 15 startups across nine verticals including manufacturing, SAAS, HealthTech, logistics, AgriTech, FoodTech, FinTech, EdTech and PropTech were chosen to pitch on the demo day. The 15 startups were selected based on seven key criteria which include problem, market, solution, growth potential, founders team, business model and \u201cinvestability\u201d. The selected startups include Iremya, Aimii Wellness, IIOTSME, HeyProp!, Luwjistik, Insureku, Loop Foods, Metaversity Lifelong Learning, UniVRse, Trustpal, Materials in Work, Sayur Kita School, Bytespace, Halo Delivery and Jazro. These startups were selected from a total of 167 applications for Cohort 1, according to him. There were also more than 40 mentors from all over the world mentoring the startups. The top five startups will be chosen to claim the immersion program opportunity from Cradle Fund. These startups will also join the startup acceleration phase 2 and receive venture building assistance which will prepare them to become investment-ready startups. The MYStartup Pre-Accelerator program is an initiative by the Ministry of Science, Technology and Innovation, powered by Malaysia government-owned early stage start-up influencer Cradle Fund, in partnership with BEYOND4. The BEYOND4 integrated digital ecosystem strives to make Southeast Asia as a global powerhouse for innovation. Its ecosystem consists of five digitally integrated multi-tier accelerators, designed for all talent, from university all the way to nurturing and investing in startup founders."}, {"url": "https://technode.global/2022/09/27/malaysias-aerodyne-secures-30m-strategic-investment-bridging-round-led-by-petronas/", "page": 48, "title": "Malaysia\u2019s Aerodyne secures $30M strategic investment bridging round led by Petronas", "contents": "Malaysia-based drone service provider The firm said in a statement its long-time client Petronas, via its corporate venture capital arm Petronas Ventures, has led the funding round. The round also included a follow-on investment by Kumpulan Wang Persaraan Diperbadankan (KWAP), who initially invested in the group back in 2020. According to the statement, the funds will be used to support Aerodyne\u2019s further expansion into European, African, Latin American and South Asian territories. It will also be utilized as a strategic investment into technology acquisition to further deepen Aerodyne\u2019s technology edge and launch Aerodyne\u2019s entry into the advanced air mobility space. Aerodyne\u2019s flagship precision agriculture solution powered by in-house developed AI capabilities, with more than 300,000 secured effective hectarage for major industry players in Malaysia. Part of the funds will also be utilised to support Aerodyne\u2019s agriculture scaling up efforts and bringing this solution into Indonesia and India. \u201cWe\u2019re happy to have raised $30 million through this bridging round, which will allow us to scale even further globally, especially supported by our new technology developments,\u201d said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. \u201cWe also have plans to raise further capital in near future, amounting to $100 million to $200 million to bring Aerodyne Group to the next stage of its growth, which we are very excited about,\u201d he added. Founded in 2014, Aerodyne is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence (AI) as an enabling technology for large-scale data operations, analytics and process optimisation with a presence in 35 countries. According to the statement, a large scale commercialisation plan for Aerodyne\u2019s advanced air mobility solution is also already underway. This solution includes the use of heavy lifter drones, which can replace the more costly traditional methods and is well-suited for oil and gas operations such as shore-to-platform and platform-to-platform deliveries. This also accelerates large logistic operations such as delivery of medical supplies in rural areas, and potentially in urban air mobility where fast and cost-effective mode of transportation can be provided in near future. A Memorandum of Collaboration (MoC) was signed on April 21 between Aerodyne Oil and Gas, a subsidiary of Aerodyne and Petronas\u2019 technology commercialisation arm, Petronas Technology Ventures (PTVSB) to explore opportunities for deployment and commercialisation of drone-based solutions, as well as enabling remote and autonomous operations through the expansion of robotics and digitalisation. \u201cAerodyne\u2019s technology and solutions are aligned with Petronas Ventures\u2019 investment focus in the space of Future of Facilities \u2013 and we strongly believe that this equity investment will strengthen our partnership further and unlock significant value for both Petronas and Aerodyne,\u201d said Arni Laily Anwarrudin, Head of Petronas Ventures. KWAP Chief Investment Officer Hazman Hilmi Sallahuddin said since KWAP first invested in Aerodyne back in 2020, the company has seen rapid progress, expanding its business from a primarily local operation to becoming the top drone services company in the world. \u201cThis follow-on investment forms part of our mandate to provide growth capital for local companies to scale up globally. In addition, our aim to support Malaysia\u2019s high-skill and high-value economic activities with positive spill over effects to the local economy are in line with Aerodyne\u2019s objectives,\u201d he added. Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]"}, {"url": "https://technode.global/2022/09/26/malaysias-instapay-technologies-raises-4-75m-series-a-funding-led-by-daiwa-securities-backed-fund/", "page": 48, "title": "Malaysia\u2019s Instapay Technologies raises $4.75M Series A funding led by Daiwa Securities-backed fund", "contents": "Malaysia-based payments fintech firm Instapay Technologies said in a statement the funding was led by Daiwa ACA APAC Growth I, a growth capital fund managed by ACA Investments, an investment management firm backed by Daiwa Securities Group, that focuses on companies in the growth stage in Southeast Asia, with participation from Spiral Ventures Asia Fund I, an early stage and digital tech focus venture capital fund managed by Spiral Ventures Pte. Ltd. ,and existing investors of Instapay. TOP2, a Singapore based corporate finance advisory firm advised Instapay on this fundraise. \u201cWe are delighted and honoured with the trust placed in us by our new and existing shareholders. We founded Instapay to better serve unbanked migrant workers and the companies that employ them, and we are glad that in our new investors we have found a common match of this mission, \u201cThe new funding will enable us to further enhance our technology platforms and introduce innovative product features that we believe will be very useful for our customers. It will also enable us to geographically expand into new markets in South East Asia and the Middle East,\u201d said Rajnish Kumar, Co-Founder and Chief Executive Officer of Instapay Technologies. Instapay Technologies, started its market operations in Malaysia about two years ago as a banking alternative for low-income workers, providing e-wallet and Mastercard to unbanked migrant workers as a payroll solution. Founded with a vision to provide financial inclusion to the underserved customer segments, Instapay has grown rapidly and today services hundreds of corporates for payroll accounts for their migrant workers as well as a large base of retail customers. It enables corporates to pay salary digitally to their workers\u2019 Instapay e-wallet. Instapay has seen rapid customer adoption in its target segment and continues to be amongst the highest rated e-wallet apps in Malaysia. Its e-wallet enables workers to do digital cross border remittance, bill payments, mobile top- ups etc. Its Mastercard is accepted globally at millions of Mastercard merchants and can be used for purchases as well as for ATM cash withdrawals. \u201cOur investment in Instapay reflects our view that digital financial inclusion will grow exponentially over the next decade, especially in markets that have large unbanked foreign workers. We see corporates wanting to stop cash salary payments and move to digit salary payments that are transparent and compliant with local regulations, \u201cWe believe that Instapay has the right technology platform, business model and the leadership team to emerge as a global market leader in this space,\u201d said Hajime Adachi, Associate Partner of ACA Investments. ACA Investments is headquartered in Singapore and has profound investment experience in the region. Through Daiwa ACA APAC Growth funds that are backed by Daiwa Securities Group, ACA is expanding its investment in promising companies in Southeast Asia, the region experiencing rapid growth. \u201cWe invest in startups in their early growth stage, who through their technology innovations are bringing a social change. \u201cWe believe in the vision of Instapay to create a financially inclusive society where all workers have access to digital financial solutions,\u201d said Ryusuke Hirota from Spiral Ventures. Spiral Ventures is headquartered in Singapore and has been investing in the early stage digital tech startups across Southeast Asia and India since 2013, with a strong belief and commitment to make people`s life better through investments in the companies which address various social and economic issues in the emerging markets. Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global"}, {"url": "https://technode.global/2022/09/23/malaysias-revenue-monster-clinches-6-6m-funding-from-sea-capital/", "page": 48, "title": "Malaysia\u2019s Revenue Monster clinches $6.6M funding from SEA Capital", "contents": "Revenue Monster GroupThe firm said in a statement that after securing MYR30 million ($6.56 million) in funding from private equity firm The SEA Capital, it has partnered with The SEA Capital and local financial technology solutions provider Fullrich Malaysia (and their local licensed e-wallet brand TaPay) and software developer Allied Protocol to build a more advanced B2B and B2G2C FinTech ecosystem which comprises end-to-end payment solutions from Point-of-Sale (PoS) to an eWallet license. Revenue Monster Group Chief Executive OFficer Lim Kar Aik said with the recent restructuring and the second round of funding from private equity investor The SEA Capital, the group has integrated greater strengths in the financial technology industry to provide customized digitalisation solutions according to the scale and needs of businesses such as aggregating merchant services and mobile payments, enabling Online-to-Offline (O2O) commerce, background data analysis and marketing optimisation. \u201cOur group has also been actively working with traditional industries to achieve digital transformation. Recently, we are building a Smart Community with a renowned real estate developer where we develop smart homes and provide residents with a better living experience,\u201cEverything just made easier with a mobile application, not to forget the reduction in management costs and greatly improved service efficiency. Our vision is also aligned with the development initiative of the Ministry of Housing and Local Government, leading and cultivating the growth of smart cities,\u201d he added. The MoU is set to act as a solid pillar in Revenue Monster\u2019s ongoing plans to build a true super-app within the fintech space which accommodates and caters to the full spectrum of services and solutions within the industry. \u201cThrough our white-label digital wallet solutions, government units, corporate groups, franchise merchants, school campuses and many more can create their own e-wallet brands, holistically manage all scenarios, realise interconnection, and make all activity information and payment traceable, \u201cThis can help create a valuable closed-loop big data ecosystem, empowering more businesses to achieve digital transformation effortlessly,\u201d said Sun Jian Wei, Founder of Fullrich Malaysia. The SEA Capital said that the post-epidemic era highlighted changes in the social and economic situation, that have rewritten the rules of the business. The organisation believes that now strategic projects with sustainable development are more in line with the maximum benefit of the overall environment. The SEA Capital believes that the Revenue Monster Group embodies these qualities prioritising both the growth of economic prosperity and human well-being. TaPay was launched by Fullrich Malaysia in 2017. The mobile e-wallet service is licensed by Bank Negara Malaysia (BNM), providing users with a secure payment system and has received tremendous support from many large merchant outlets and government units over the past few years. Allied Protocol has more than 20 years of IT development experience, providing software and hardware solutions for merchants in various fields, including PoS terminal systems and enterprise resource planning to help new and mature enterprise customers improve business management efficiency. The new solutions integrations through the MoU are set to complement existing Revenue Monster offerings including the froup\u2019s online super store solution, \u00e0 la carte that caters to the B2C market in the F&B category and WeTix, the cinema and movie aggregator alongside Revenue Monster\u2019s B2B solutions within its merchant portal. Revenue Monster Group is set to reveal more strategic plans locally and abroad in the coming months, as it looks to accelerate the group to a leading position within the industry and assist more local businesses to transform and upgrade. Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global"}, {"url": "https://technode.global/2022/09/22/ppro-makes-moves-in-malaysia-with-integration-of-grabpay-and-touch-n-go/", "page": 48, "title": "PPRO makes moves in Malaysia with integration of Grabpay and Touch \u2018N Go", "contents": "PPROPPRO said in a statement it now offers all of Malaysia\u2019s most popular, independent e-wallets \u2013 Boost, Touch \u2018n Go and GrabPay \u2013 to its partners which include enterprises with payments platforms, payment service providers, fintechs and banks. Through PPRO\u2019s integration, these partners can supercharge their revenue by gaining direct access to Malaysian consumers who spend an estimated $3.8 Billion a year when shopping cross-border. Cited the research by Statista, PPRO said e-wallets GrabPay and Touch \u2018n Go are both expected to see their user number double from 2020 to 2025. For enterprises with payments platforms looking to tap into or grow their presence in the Malaysian market, it said enabling consumers to conveniently transact using their e-wallets via their mobile devices is a smart move, which will grant them access to the 83 percent of Malaysia\u2019s population that have access to a smartphone. \u201cDigital payments are second nature to Malaysia\u2019s highly, mobile-enabled population and for enterprises with payments platforms looking to break into new market segments and grow new cross-border revenue, the Malaysian market must not be overlooked, \u201cIn order to  increase customer conversion from Malaysia, enterprises need to understand their customers\u2019 preferences at checkout. PPRO has built an extensive Malaysian payments offering on its infrastructure and is well-primed to enable payment service providers, fintechs and banks to drive cross-border transactions in this fast-growing market,\u201d said An Lu, PPRO Asia Pacific (APAC) Head of Market Development. According to the statement, super app Grab\u2019s e-wallet, GrabPay, has an ecosystem of over 25 million transacting users, which means that enterprises which are able to offer GrabPay at the checkout can access a large pool of Malaysia\u2019s population. Consumers use the GrabPay app for a variety of purchases both in-store and online, from fund transfers, to food delivery and ride hailing services. Alongside GrabPay, Touch \u2018n Go has been prevalent in leading Malaysia\u2019s digital transformation, as it has shifted from being a road toll payment method, to now having a user base of 16 million consumers who use it daily for a variety of online purchases. According to the statement, the rapid acceleration of the use of e-wallets in Malaysia comes at a time when the government has placed significant focus on digitising the country\u2019s economy through the launch of the e-Pemula initiative to drive the cultivation of cashless transactions, of which both GrabPay and Touch \u2018n Go are involved, and MyDIGITAL under the Malaysian Digital Economy Blueprint. PPRO is a fintech company that globalises payment platforms for businesses, allowing them to offer more choice at the checkout and boostPayment service providers, enterprises, and banks that run on PPRO\u2019s infrastructure are able to launch payment methods faster, optimise checkout conversions, and reduce the complexities of managing multiple fund flows. Citi, PayPal, and Stripe are some of the names that depend on PPRO to expand their platforms beyond borders and with a growing global team of over 600 people. Last year, PPRO announced that it had achieved unicorn status after raising $180 million from Eurazeo Growth, Sprints Capital and Wellington Management. Earlier this year, PPRO announced the acquisition of Alpha Fintech, a next-gen payments technology company, in a deal that will expand PPRO\u2019s offering, and strengthen its presence and networks in the Asia Pacific region. Coca-Cola and Grab join hands to drive growth and digitalisation in Southeast Asia"}, {"url": "https://technode.global/2022/09/21/malaysias-storehub-raises-13-5m-pre-series-b-round-led-by-500-global/", "page": 48, "title": "Malaysia\u2019s StoreHub raises $13.5M pre-Series B round led by 500 Global", "contents": "StoreHubThe round also saw participation from existing investors Vertex Ventures Southeast Asia & India, OSK and others, StoreHub said in a statement. According to the statement, the latest funding round will be used to continue meeting demand while maintaining positive unit economics, and investing in technology innovation to deepen the value for each customer. \u201cWith \u2018revenge travel\u2019 and \u2018revenge dining\u2019 continuing to drive consumer behaviour in Malaysia and across the region, retail and food and beverage (F&B) business owners are looking for ways to improve operational efficiency and maximise their revenue per customer, \u201cOur platform automates ordering, payments, and customer engagement. It\u2019s like having 10 extra staff members that work 24/7 for you with zero error. Business owners make more money and get more time for their families, or to expand even more,\u201d said Wai Hong Fong, Chief Executive Officer and Co-Founder of StoreHub. \u201cHere in Malaysia, we have seen businesses transform themselves to adapt to the new normal. Labour shortages and more demanding and digitally-savvy consumers have increasingly impacted the industry with restaurants and Mamak eateries especially being hit hard in recent times, \u201cWith this, it has become even more critical for businesses to integrate technology into their operations,\u201d he added. Headquartered in Malaysia and co-founded in 2013 by Wai Hong Fong and Congyu Li, StoreHub started as an early pioneer of cloud-based SaaS Point of Sales (POS) systems in the region. Today, the platform powers over 15,000 paying retail and restaurant outlets in Malaysia and across Southeast Asia, and has expanded its offering to include QR-based table ordering, loyalty, automated customer engagement, and more. In the last 12 months, StoreHub has processed over 128 Million transactions worth over MYR7.2 billion ($1.58 billion) in gross transaction volume (GTV), a 40 percent increase over the previous year and a sign of the resurgent times. New paying stores coming onto the platform have also seen a 5 times growth from the year before. Most of all, acquisition costs for new customers have improved to near break even within the first month. To match the surging demand, StoreHub has been expanding its team accordingly, bringing in over 100 new hires in the last six months. In 2021, StoreHub reached close to net profitability by growing average customer revenue throughout the pandemic. \u201cWe joined their first round in 2016, with a small $150,000 check. Fast forward to today, we have invested more than $10 million cumulatively on top of that,\u201d said Khailee Ng, Managing Partner, 500 Global. \u201cConsidering similar companies like Toast are valued at $10.5 billion (9 Sept 2022), StoreHub already has approximately a quarter of Toast\u2019s customer size with another estimated 2 million more potential businesses in Thailand, Malaysia, and Philippines to onboard, \u201cThis in turn creates the playbook for \u201crest of world\u201d. We believe StoreHub is incredibly valuable because it creates incredible value for so many more small and medium-sized enterprises (SMEs),\u201d Ng added. Since its launch, StoreHub has served a wide range of SME merchants in Malaysia alone, ranging from locally-grown multistore cafes like VCR and Nasken Coffee to restaurants like Grub by Ahong & Friends and WoodFire. Malaysia\u2019s respond. io raises $7M funding led by Headline Asia"}, {"url": "https://technode.global/2022/09/21/islamic-finance-sector-sees-growth-opportunities-in-crypto-and-metaverse-says-islamicmarkets-com/", "page": 48, "title": "Islamic finance sector sees growth opportunities in crypto and metaverse, says IslamicMarkets.com", "contents": "New research with leading Islamic finance professionals shows growing acceptance of crypto and digital assets and rising interest in the metaverse. IslamicMarkets. com who conducted the research said in a statement that its study found that nearly two out of three (63 percent) of Islamic finance professionals predict the level of adoption of crypto and digital assets in Islamic finance will increase over the next five years with 16 percent expecting a dramatic increase. That rises to 70 percent who say adoption of the metaverse in the Islamic finance sector will increase over the next three years, with 20 percent forecasting a dramatic rise in the next evolution of the digital customer experience in Islamic finance. Traditionally, many in the Islamic finance sector have been sceptical about crypto and digital assets, but the research found dramatic improvements in regulation have convinced professionals to look at them more closely. The fact that leading Muslim-majority countriessuch as the United Arab Emirates (UAE) and Saudi Arabia will increasingly become key players in the crypto and digital asset sector is also helping to overcome scepticism, said the research.  The study also found that a reason for adoption of crypto and digital assets in Islamic finance was that there are elements of cryptocurrencies such as not paying interest in the case of bitcoin that appeal to conservative Muslims. Growing acceptance by more mainstream institutional investors has also convinced some sceptics as well as improvements in custodial services in the digital and crypto sector, according to the research. \u201cMany in the Islamic finance sector have steered clear of cryptocurrencies which, given the recent volatility, has proved a wise move but that may be about to change with growing interest in digital assets and the metaverse, \u201cThe role of countries such as the UAE and Saudi Arabia in the crypto and digital asset sector highlights the interest in cryptocurrencies in the Muslim world,\u201d said Arsalaan Ahmed, chairman of Global Islamic Finance Forum 2022 (GIFF2022). The research was conducted to support the forum. Malaysian businesses harness technology to increase efficiency, says CPA Australia"}, {"url": "https://technode.global/2022/09/20/uob-malaysia-partners-sjpp-to-provide-219m-in-green-financing-to-smes/", "page": 48, "title": "UOB Malaysia partners SJPP to provide $219M in green financing to SMEs", "contents": "UOB MalaysiaThe bank has allocated MYR1 billion ($219.63 million) for this program, and SJPP will be guaranteeing up to 80 percent of the loans through its PEMULIH Government Guarantee Scheme (PGGS), according to a statement. UOB Malaysia is the first bank to tie up with SJPP on a green financing program. U-Green Financing is available to eligible SMEs and mid-sized companies from all industries looking to contribute to smart sustainable cities. Companies will also be eligible if they want to develop or construct green buildings, facilitate green trade, or contribute to a circular economy. Open to both existing UOB Malaysia customers as well as those new to the bank, the facilities are available in the form of term loans, overdraft facilities and trade financing. In addition to providing financing, UOB Malaysia will also be collaborating with the Through the workshops, SMEs will benefit from a syllabus that is co-developed by MRANTI and its approved training providers. \u201cWhile the MRANTI workshop will assist SMEs in acquiring the necessary knowledge to embrace ESG, our partnership with SJPP will provide the financing support to help them kick-start their sustainability journey,\u201dUOB Malaysia Chief Executive Officer Ng Wei Wei said. \u201cBy making green financing more accessible, we hope to encourage SMEs to adopt sustainable business practices. This will boost their ESG profile, especially if they are keen to participate and compete in the global value chain. \u201dSJPP Principal Officer Chen Yin Heng said that the proposed collaboration is in line with the national goal to achieve net-zero emissions by 2050. \u201cSJPP, via its guarantee schemes, is committed to supporting the government\u2019s effort to boost economic growth, especially within the SME sector. Many strategic initiatives and policies have been put in place with the aim to spur and develop business opportunities for this sector. Malaysia Science Ministry to identify needs of R&D, C&I industry players, says minister"}, {"url": "https://technode.global/2022/09/20/allianz-malaysia-joins-gobi-partners-malaysia-focused-superseed-ii-fund/", "page": 48, "title": "Allianz Malaysia joins Gobi Partners\u2019 Malaysia-focused SuperSeed II Fund", "contents": "Pan-Asian venture capital (VC) firm Other LPs backing the Gobi SSII Fund are institutional investors Malaysia Venture Capital Management Bhd (MAVCAP) and Sunway Group, Gobi Partners said in a statement. The Gobi SSII Fund targets early-stage (Seed, Series Pre-A and Series A) technology-enabled local startups operating within artificial intelligence, big data, cloud, e-commerce, fintech, internet of things, and halal-economy-focused segments, which have the capability to scale up and bring sizeable returns to the Malaysian economy. \u201cAllianz Malaysia is one of the very few corporates that has been at the forefront in driving digital innovation in Malaysia, and as one of the earliest regional VCs to set up shop in Malaysia, Gobi is very proud to have them on board as one of our key LPs,\u201d said Gobi Co-Founder and Chairman Thomas G. Tsao. \u201cWe believe that both the fund and the portfolio companies will benefit substantially from Allianz\u2019s ecosystem locally here in Malaysia as well as globally,\u201d he added. Allianz Malaysia Berhad Chief Executive Officer Sean Wang said Allianz Malaysia\u2019s appetite for digital change has allowed the firm to capitalise on tremendous new opportunities and explore innovation-led collaborations for the last couple of years. \u201cOur general insurance arm, Allianz General Insurance Company (Malaysia) Berhad, was an early partner of insurance technology firm PolicyStreet and online property rental platform SPEEDHOME (both established in 2017), which are two of Gobi\u2019s portfolio companies,\u201cSo, we are delighted to join Gobi Partners as one of their LPs. This is our first investment in a VC, and we look forward to the milestones we can accomplish together,\u201d he added. Since its launch in late 2020, the Gobi SSII Fund has already invested in four Malaysian startups namely the innovation arm of Sunway Group and Sunway University, Sunway Innovation Labs; technology news platform, TechNode; SPEEDHOME; and PolicyStreet. Given the early-stage nature of the fund, the Gobi SSII Fund can invest in up to 25 portfolio companies. Gobi Partners is the most interconnected Pan-Asian venture capital firm with $1.5 billion in assets under management (AUM) across North Asia, South Asia, and ASEAN. Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 15 funds to date, invested in over 320 startups and nurtured 9 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Beijing, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, Shenzhen, Singapore and Surabaya. As a participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labour, environment and anti-corruption to ensure long-term value creation and sustainability across our portfolio. The firm launched its inaugural Sustainability Report in June 2022. Allianz Malaysia Berhad, on the other hand, is a subsidiary of Allianz SE. The firm has two insurance subsidiaries \u2013 Allianz General Insurance Company (Malaysia) Berhad (Allianz General) and Allianz Life Insurance Malaysia Berhad (Allianz Life). Allianz General is one of the leading general insurers in Malaysia and has a broad spectrum of services in personal lines, small to medium enterprise business and large industrial risks. The gross written premium (GWP) for general insurance business for financial year 2021 reached a mark of MYR2.43 billion ($530 million). Allianz Life offers a comprehensive range of life and health insurance and investment-linked products. For the financial year 2021, it recorded a GWP of MYR3.26 billion ($720 million) and it is one of the fastest growing life insurers in Malaysia. Allianz Malaysia has 32 branches nationwide. Gobi Partners appoints Gui Ee Leen as Human Resources Partner"}, {"url": "https://technode.global/2022/09/19/singapores-nutrition-technologies-closes-20m-equity-round-led-by-ptt-ventures/", "page": 48, "title": "Singapore\u2019s Nutrition Technologies closes $20M equity round led by PTT Ventures", "contents": "Singapore-based agri-biotech company The round was supported by Sumitomo Corporation, ING Sustainable Investments, Mandala Capital, Nutrition Technologies said in a statement. It also saw continued participation from existing investors Openspace Ventures, SEEDs Capital and Hera Capital. The round was advised by ING Corporate Finance. The proceeds will be used to fund an expansion into new markets; launch new products; accelerate research and development (R&D); and create new strategic partnerships. \u201cWe are increasing production to meet market demand and providing essential ingredients to the domestic agricultural sector as well as boosting exports through shipping our products to Korea, Japan, Indonesia, Thailand, Vietnam, Philippines and Chile, \u201cWe will also commence shipments to the United Kingdom and European Union very soon,\u201d said Nick Piggott, Co- Chief Executive Officer and Co-Founder of Nutrition Technologies. Nutrition Technologies will use these funds to further expand production capacity both at its current operating plant in Malaysia as well as through a new joint-venture project in a soon-to-be-announced second country in Southeast Asia. The company also intends to expand its R&D capabilities in Singapore; commence commercial activities in the United Kingdom and European Union; and add several new patents to its existing IP portfolio. \u201cWe have had some incredibly exciting breakthroughs over the past two years. Following successful additions to our patent portfolio, we will launch two newNutrition Technologies is a biotech company headquartered in Singapore and operating in Malaysia on a mission to address global food security. Founded in 2015 by two British entrepreneurs, Nick Piggott and Tom Berry, the company manufactures sustainable animal feed ingredients and biofertilisers, using a unique combination of biotechnology and black soldier fly larvae to recycle nutrients from agricultural and food processing by- products. In 2021 the company scaled-up to industrial production with the launch of its two-hectare factory in Johor, Malaysia. It is now a step further on its path towards developing a sustainable circular economy within the agricultural sector. Since 2015, Nutrition Technologies, has been creating a commercial replica of the natural decomposition process, using their proprietary growth inoculants and black soldier flies (Hermetia illucens) to turn low-grade crop and food waste into highly sought after animal feed ingredients and biofertilisers. Their two hectare production facility in Johor, Malaysia, bioconverts several hundreds of tonnes of organic waste every week. The facility produces functional proteins and oils, which have bioactive compounds that efficiently improve animal growth performance and health outcomes. Over the past few years, Nutrition Technologies has conducted multiple trials of their products on fish, shrimp, poultry, piglets and pets, with significant results. Their novel biofertiliser products improve soil health while naturally increasing plant resistance to disease, reducing the need for chemical pesticides. The 165-strong team has been scaling up their operations and selling their products into both domestic and regional markets. Nutrition Technologies\u2019 production facilities are a result of over seven years of R&D and their strategic location in the tropics helps to optimise productivity and lower costs. Their proprietary technologies and vertical insect production system are designed to capitalise on the low-energy benefits and suitability of a tropical climate. Their team developed the entire production system, which uses some bespoke automated equipment to ensure strict biosafety, zero-waste and strong unit economics. Through avoided emissions, their products have great potential to help meet global climate change targets. Nutrition Technologies has been doubling down on its success in commercialising insect-microbe systems and their approach to protecting that intellectual property has been lauded by IP experts and publications. \u201cWe believe our technological developments can help address some of the world\u2019s most critical problems and are highly motivated to accelerate expansion as quickly as possible, \u201cOur novel microbiology solution to insect production allows us to use a wide pool of raw materials which negates the most significant barrier to scaling. \u201d said Charlie Carter, Chief Operating Officer of Nutrition Technologies. Nutrition Technologies Chief Financial Officer Richard Hayler said insects represent a virtually unlimited and untapped pool of biological assets, with huge opportunities for value creation. \u201cTackling food security is only the tip of the iceberg and with our strengthened balance sheet, great partners and best in class IP, we are strategically positioned to lead the next agricultural revolution,\u201d he added. PTT Public Company Limited Innovation and New Ventures Senior Executive Vice President Dr. Buranin Rattanasombat said commercial insect protein production is one of the most important innovations of the past few years, with the potential to disrupt the animal feed and fertiliser sectors and solve multiple issues the world is currently facing. \u201cFurthermore, we expect this partnership will provide customers with innovative solutions to revolutionise the agriculture sector as well as improve people\u2019s quality of life,\u201d he added. Amgen and NSG Biolabs announce golden ticket to boost Singapore\u2019s Biotech Ecosystem"}, {"url": "https://technode.global/2022/09/14/tokenize-malaysia-gets-approval-to-trade-solana-uniswap-and-bitcoin-cash/", "page": 49, "title": "Tokenize Malaysia gets approval to trade Solana, UNISWAP and Bitcoin Cash", "contents": "Tokenize MalaysiaTokenize Malaysia said in a statement that the firm becomes the first exchange to offer investors Solana legally in the country. According to the statement, this is a continuous effort of Tokenize Malaysia to expand the variety of digital assets to meet the market\u2019s demand and stay competitive. Being a local regulated exchange, Tokenize conducts thorough research and analysis on the suitability and sustainability of a token when submitting the application to the Securities Commission (SC) for approval according to the guidelines and requirements. This helps ensure only the coins from trustworthy projects are listed to help investors mitigate risks. Solana is a high-performance blockchain supporting builders around the world creating crypto apps that scale today. It is best known as a competitor to ethereum, the second largest blockchain project by market capitalisation. Solana is a blockchain protocol out on a mission to push the DeFi ecosystem into mainstream use. At the time of writing, SOL is currently valued at MYR150.70 ($33.29) a unit (minimum purchase approximately MYR1.60 [$0.35]). Uniswap is a cryptocurrency exchange that works on a decentralised network protocol based on ethereum. Its protocol facilitates automated transactions between crypto tokens on the ethereum blockchain using smart contracts. At the time of writing, one UNI unit is currently valued at MYR27.45 ($6.06) (minimum purchase less than MYR1 [$0.22]). Meanwhile, Bitcoin cash and Bitcoin share many similarities albeit with one fundamental difference: Bitcoin Cash is a proof of work blockchain that is faster and cheaper to use than bitcoin. The idea of Bitcoin Cash came to be in 2017 as a solution to bitcoin\u2019s transaction speed issues. The technical difference between the two comes down to the size of blocks in the blockchain. At the time of writing, BCH is currently valued at MYR544.37 ($120.25) a unit (minimum purchase approximately MYR5.44 [$1.2]). Tokenize Malaysia said it aims to spearhead the promotion of education and awareness on the understanding of cryptocurrencies among local investors. According to the statement, Tokenize Malaysia users can buy, sell and store the three coins on its mobile app and website starting September 14, alongside its existing cryptocurrency offerings. Generally, there is a positive outlook for more tokens as digital asset investment gains popularity, as well as the curiosity and gradual adoption of the public in the non fungible token (NFT), DeFi and GameFi fields. The expansion of digital asset offerings also allows customers to better spread their investment risks and build better investment portfolios. The addition of more coins on Tokenize Malaysia\u2019s exchange will help benefit investors and support the development of the local digital assets market in Malaysia. Luno adds Cardano and Solana to its cryptocurrency platform"}, {"url": "https://technode.global/2022/09/14/luno-adds-cardano-and-solana-to-its-cryptocurrency-platform/", "page": 49, "title": "Luno adds Cardano and Solana to its cryptocurrency platform", "contents": "LunoIn a statement, Luno said that from September 21, users can buy, sell, and store ADA on the Luno app and website, alongside its existing cryptocurrency offering. Luno will also be adding SOL to its platform from October 6. With continuing interest in the wider applications of bitcoin, ADA and SOL are the latest cryptocurrencies that Luno is adding to its portfolio, following the addition of Chainlink (LINK) and Uniswap (UNI) earlier this year. This brings the total number of coin offerings for Malaysians to nine, as Luno continues ensuring that Malaysian investors gain access to wider investment opportunities. \u201cAs big advocates of building for the long term, we believe it\u2019s important to give customers access to newer crypto applications that have a promising future,\u201d Luno Country Manager Aaron Tang said. \u201cIn a constantly evolving crypto landscape, we want to empower financial literacy amongst Malaysians by promoting a stronger understanding of digital assets and investment, \u201cMore importantly, we want our investors to be able to progress in their crypto journey with Luno with the peace of mind that comes with the rigorous security that customers rely on from Luno,\u201d he said. \u201cWe want to break down the complications around cryptocurrencies, and provide a platform that makes it easy for people to invest and learn about them,\u201cInvestors don\u2019t need to make one large investment to get started but can build and grow their investment over-time through smaller amounts \u2013 the minimum amount to get started investing on Luno is only MYR1 ($0.22),\u201d he added. Cardano is often described as a \u2018next gen evolution\u2019 of ethereum. It aims to be the most scalable and sustainable platform for running decentralised applications (dApps) by taking a methodical, research-driven approach to its development. Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning decentralised finance (DeFi), non-fungible tokens (NFTs), Web3 and more. According to Tang, while ADA and SOL meet Luno standards for safety, being listed on Luno is not an endorsement of its future potential as an investment. \u201cLuno assesses prospective assets based on factors like security, compliance, and utility, but will always suggest that anyone looking to invest in crypto do the necessary research and exercise good judgement before investing, \u201cLuno only offers the most compelling investment options, viewed through a long-term lens. Over the coming months, customers will be able to explore and invest in more opportunities to tap into a new global financial system and participate equally,\u201d he added. Luno was founded in 2013 with a mission to put the power of crypto in everyone\u2019s hands. The firm has become a leader in responsible crypto education and investment, introducing over 10 million people to crypto in more than 40 countries across the US, Europe, Africa, Asia and Australia. Luno is part of the Digital Currency Group, the world\u2019s largest blockchain investor, with over $40 billion in crypto under management. It offers products and services that make it safe and easy to buy, store and learn about cryptocurrencies like bitcoin and ethereum. The business undergoes independent proof of reserves audits each quarter to provide customers with the assurance that their crypto is safe. In Malaysia, Luno is the first regulated and leading digital assets exchange, under the Securities Commission Malaysia, offering Malaysians a safe and secured platform to start investing in cryptocurrencies. Global retail cryptocurrency app Luno partners payment provider FIS to introduce its newest payment option"}, {"url": "https://technode.global/2022/09/08/pos-malaysia-launches-malaysias-first-nft-stamp/", "page": 49, "title": "Pos Malaysia launches Malaysia\u2019s first NFT stamp", "contents": "Pos Malaysia BerhadIn a statement, Pos Malaysia said it is the second postal service provider in Southeast Asia to produce NFT stamps after Thailand and joins the global postal fraternity of other countries with similar initiatives such as Austria, Switzerland, United Arab Emirates and the Netherlands. According to Pos Malaysia, its limited edition NFT stamp is redeemable complimentary with every purchase of the #Empatbelas Setem Ku special edition stamp folder set. Produced through a collaboration between Pos Malaysia and local retail brand APOM, each stamp folder contains one physical stamp sheet of 14 stamps. Each one is designed by an artist representing each state in Malaysia, showcasing the uniqueness, culture and pride of the states. The complete set also comes with three envelopes, three postcards, a specially designed folder and a user guide for redeeming the free NFT stamp. A limited number of 3,000 folder sets will be available for purchase, each set allowing collectors up till 31 October to redeem one out of the 14 NFT stamp designs. \u201cPos Malaysia is excited to work together with APOM on this NFT stamps project, along with 14 highly talented artists representing each state in Malaysia,\u201cTogether with APOM, we are proud to offer the opportunity to local artists to showcase their talents not only in Malaysia but globally, as NFTs can be shared or traded internationally,\u201d said Pos Malaysia\u2019s Group Chief Executive Officer Charles Brewer. According to him, penetrating the NFT market is a significant milestone for Pos Malaysia, as the firm complements its traditional postal offerings with various digitised services and products, enhancing efficiency and improving the way it connects with customers in the rapidly evolving and digitally advanced world. \u201cWhile Pos Malaysia has been around as a postal service operator for over 200 years, our aspiration is to remain relevant with times and be future-ready to exist another 200 years,\u201d he added. APOM\u2019s Co-Founder Chantelle Teoh said #Empatbelas is Apom\u2019s yearly Merdeka-Malaysia Day collaboration project to celebrate the 14 states of Malaysia. \u201cThis year with the support from Pos Malaysia, the 14 selected artists got a chance to re-imagine their state pride on NFT stamps that transcends globally beyond the philatelic community, as well as on the humble physical stamp that has connected Malaysians throughout the years, \u201cThis is a great opportunity for the local talents to showcase their work,\u201d he said. Malaysia\u2019s MYEG launches global NFT marketplace known as NFT Pangolin"}, {"url": "https://technode.global/2022/09/08/iglobsys-technology-acquires-malaysias-mason-games-for-1m/", "page": 49, "title": "Iglobsys Technology acquires Malaysia\u2019s Mason Games for $1M", "contents": "Mason Games Sdn. Bhd. The acquisition, which took place one year after the establishment of Mason Games in July 2021, is to bolster the studio\u2019s growth in various areas including embarking on their maiden blockchain game project, Mason Games said in a statement. In addition, the studio plans to set up a game development office in Ho Chi Minh City, Vietnam in the fourth quarter of 2022. \u201cIt is exciting to start our journey with Iglobsys, a strategic partner that will help accelerate the growth of our young team, \u201cIglobsys has vast experience in technologies and wide business networks throughout Asia which are beneficial as we try to carve out larger market footprints in mobile gaming, especially within Southeast Asia. We are grateful for the trust they have put in us,\u201d said Daryl Lau, Chief Executive Officer and Founder of Mason Games. \u201cWe hope to one day be able to help other gaming studios to pursue building more complex games that provide an engaging and fun gaming experience for everyone,\u201d he added. Moving forward, Mason Games will embark on more ambitious gaming projects, in particular casual and strategy games for both Android and iOS. This new focus requires further investment in talents to bolster the technical capabilities of the team as the new complex game genres require extensive development time and testing before they are ready for release. Founded in 2021, Mason Games is a developer of casual and strategy mobile games. The studio is on a mission to develop mobile games with Asian influence, a unique approach to letting people around the world enjoy them. \u201cIglobsys is pleased to have Mason Games onboard as a valued partner. We are confident that Mason Games is an excellent opportunity for us to enter the front-facing consumer business, especially with their potential to amass an extensive database of users over a short time with their immersive games,\u201d said Jackie Chong, Director at Iglobsys Technology. Iglobsys Technology was established in 2018 with the aim of bringing Digital Transformation (DX) technologies to clients across various industries in Southeast Asia. The firm aims to be a key leader in big data analytics and blockchain technology. The firm grows with its clients by helping them accelerate their growth using the right technology platform. It provides services and innovation to its clients for better productivity, competitive advantages, efficiency, and cost-effectiveness. The firm has spread its wings to Singapore, Vietnam, and Indonesia. Singapore\u2019s eSports firm ESPL partners Philippine\u2019s Yield Guild Games for crypto NFT gaming"}, {"url": "https://technode.global/2022/09/06/malaysias-capital-a-progressing-with-airasia-aviation-airasia-super-app-new-york-listing-plan-report/", "page": 49, "title": "Malaysia\u2019s Capital A \u2018progressing\u2019 with AirAsia Aviation, airasia Super App New York listing plan \u2013 report", "contents": "Capital A BhdAccording to him, the company would probably make the announcement next year, Malaysia\u2019s national news agency \u201cWe\u2019re planning the listing of AirAsia Aviation, which is private now, and Super App, that\u2019s progressing but we\u2019ll make announcements in due course,\u201d he told reporters at an event at Danau Toba, Indonesia. AirAsia Aviation comprises AirAsia Malaysia, AirAsia Philippines, AirAsia Thailand and AirAsia Indonesia. According to earlier reports in June, Fernandes said the group is evaluating all fundraising options, including private placement, direct listing or listing via a merger with a Special Purpose Acquisition Company (SPAC). The listing in the US market would be attractive given the liquidity and the diverse investor reach that it can provide, he said then. Previously known as AirAsia Group, Capital A has been aggressively building its digital businesses and super app over the last two years as most of its planes were grounded due to travel restrictions to contain the COVID-19 pandemic. The group has hoped to build its super app, modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offer a variety of services including ride-hailing, food delivery, and payment services. Malaysia\u2019s Capital A mulls US listing"}, {"url": "https://technode.global/2022/08/29/yinson-partners-aeon-to-develop-malaysias-largest-retail-ev-charging-network/", "page": 49, "title": "Yinson partners AEON to develop Malaysia\u2019s largest retail EV charging network", "contents": "Malaysia-listed energy infrastructure and technology firm In a joint statement, Yinson said its green technologies division Yinson GreenTech (YGT) has through its wholly owned subsidiary Yinson Green Technologies (M) Sdn Bhd signed aUnder the agreement, YGT aims to deploy its chargEV chargers complete with value-added services such as customer care and loyalty programmes. YGT also aims to deploy a charging hub for AEON\u2019s and AEON BiG\u2019s future logistic fleet of electric vehicles (EVs), which YGT shall introduce and manage under its comprehensive EV leasing solutions programme. These services are introduced as part of the AEON Sustainability Charter and are expected to enhance the overall efficiency of AEON and AEON BiG malls while benefiting their retail customers with EV charging services. The collaboration leverages on YGT\u2019s position as a green technology solutions provider, delivering a clean, integrated and technology-enhanced mobility ecosystem, as well as AEON\u2019s and AEON BiG\u2019s position as one of Malaysia\u2019s largest mall operators and the country\u2019s biggest retailer, respectively \u2013 both looking at incorporating sustainable practices into their own business operations. Yinson Executive Vice President of Technology and New Ventures Eirik Barclay said Yinson\u2019s goal is to help businesses accelerate the transition to a net zero environment. \u201cToday, we mark another milestone in our efforts to mitigate the effects of climate change as we partner with one of Malaysia\u2019s leading shopping malls, AEON, who has developed a robust sustainability roadmap for its business. Together, we aim to implement green technologies that will bring Malaysia a step closer to realising its goals for a cleaner future,\u201d he said. Meanwhile, Yinson Senior Vice President Electromobility Ruslin Tamsir said YGT looks forward to collaborating with likeminded partners such as AEON, who want to offer a differentiating experience through green initiatives. AEON Chief Ventures and Sustainability Officer Azli Mohamed said the partnership with YGT is one of the examples that AEON is operationalising sustainability by enabling sustainable commuting. \u201cWith 28 AEON Malls, 34 AEON Stores and 21 AEON BiG outlets, AEON has the largest retail footprint in Malaysia and we want to be part of the first and largest retail EV charging network ecosystem in Malaysia. AEON aims to lead the retail sector by enabling the ecosystem for sustainable commuting by future-proofing our malls to meet the needs of the surrounding community, enriching their retail experience while maintaining AEON's responsibility towards the environment,\u201d he said. AEON BIG Managing Director Sheikh Farouk Sheikh Mohamed also said this partnership with YGT will enhance the value proposition of AEON BiG to its customers by integrating a sustainable mobility ecosystem in their shopping experience. \u201cTogether with AEON, we believe such cooperation with YGT will deliver a sustainable impact within the communities we operate,\u201d he said. YGT invests in novel green businesses, research and development and strategic partnerships to develop integrated smart green assets and infrastructure, ultimately aiming to create a proprietary digital marketplace that provides affordable and accessible tech-based low carbon products and services to help businesses and communities achieve their own net zero ambitions. Its strategic investments currently include advanced hydrofoil system for electric vessels, e-bike and swappable batteries, autonomous and robotic technology, autonomous systems for electric vehicles, marine energy storage solutions and electric vehicle charging solutions. Yinson signs MOU with GoCar to provide charge EV solutions and services to GoCar users"}, {"url": "https://technode.global/2022/08/26/malaysia-science-ministry-to-identify-needs-of-rd-ci-industry-players-says-minister/", "page": 49, "title": "Malaysia Science Ministry to identify needs of R&D, C&I industry players, says minister", "contents": "Malaysia\u2019s Dr Adham Baba said MOSTI would also identify measures that need to be taken to speed up the development of intellectual property and technology so as to accelerate commercialization. \u201cMOSTI is committed to providing appropriate support and assistance through agencies under it to commercialize research so that it doesn\u2019t stop at just institutions of higher learning (IPT),\u201d he was quoted as saying by the national news agency \u201cBut to realise this, researchers need to translate research into experimental development and proof of concept for community use so as to create a bigger impact,\u201d he said at the closing ceremony of the Supercharger Series: Supercharging Your Commercialisation Potential. Dr Adham said that through the Supercharger Series, The four problems currently faced by researchers include funding, talent, regulations and policies that need to be coordinated and penetration for the commercialization of the respective products, he noted, adding that there is room for improvement. Dr Adham also announced the collaboration of MRANTI with five IPTs for the Supercharger Series to bring the best 50 intellectual properties of spin-off companies to the path of commercialization. The five IPTs are Universiti Malaya, Universiti Sains Malaysia, Universiti Putra Malaysia, Universiti Teknologi Malaysia and Universiti Kebangsaan Malaysia. Through this collaboration, he said MOSTI hoped that the innovators and researchers could achieve the best study and research results. Malaysia to focus on creating smart cities, says Science Minister"}, {"url": "https://technode.global/2022/08/25/malaysias-kenanga-partners-chinas-ant-to-develop-wealth-super-app/", "page": 49, "title": "Malaysia\u2019s Kenanga partners China\u2019s Ant to develop wealth super app", "contents": "Malaysia-based Kenanga said in a statement on Wednesday that both parties have signed a Memorandum of Understanding (MOU) on the partnership, and under the MOU, Kenanga will leverage mPaaS, a mobile development platform from Ant Group\u2019s digital technology unit, to launch the super app. According to the statement, the super app is geared to revolutionise how Malaysians approach wealth generation and management, by integrating a suite of financial solutions, such as stock trading, digital investment management, e-wallet, crypto trading and foreign currency exchange, onto a single platform and ecosystem.  \u201cHaving spent the year conceptualising and designing the super app, we are thrilled to partner with Ant Group, a globally recognised and experienced infrastructure and platform provider, to develop this platform and bring it to life,\u201d said Chay Wai Leong, Group Managing Director, Kenanga Investment Bank. \u201cWe look forward to not only unifying a broad spectrum of financial offerings under one roof, but more importantly, to make wealth creation more accessible by democratising financial services for the millions of Malaysians around the country who want better, swifter and cheaper access to financial products and solutions,\u201d he said. With almost 50 years of retail experience serving over half a million customers, he believes the Kenanga wealth super app will leapfrog the group\u2019s growth to the next level. \u201cWe started our digital journey five years ago, and have a robust digital product pipeline that is set to reshape our relationship with our customers and harness opportunities in the marketplace,\u201d he added. Established for more than 45 years, Kenanga is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing with strong foundations in regulatory compliance and risk management. \u201cWe have been committed to supporting our customers to deliver faster, more reliable, and more convenient services to their end users,\u201d said Geoff Jiang, President of Ant Group\u2019s Digital Technology Business Group. \u201cAdopted by many businesses to build new apps and optimise the performance of existing apps, our financial-grade mPaaS mobile development platform isAnt Group\u2019s digital technology unit develops a full range of digital solutions in the fields of blockchain, privacy computing, security technologies, and distributed database. The company is committed to enabling and reinforcing trust for participants in the digital economy, including consumers, businesses, and partners. It also aims to build the infrastructure and platforms to support the digital transformation of the service industry. The development of this super app extends the portfolio of digital products that Kenanga has successfully rolled out, from Rakuten Trade, Malaysia\u2019s fastest growing online stock trading platform, to Kenanga Digital Investing, a robo-advisor that has amassed over MYR250 million ($55.78 million) in asset under management in six months. Ant Group to become major shareholder of Singapore payment firm 2C2P"}, {"url": "https://technode.global/2022/08/24/malaysias-medtech-startup-bookdocs-founder-ceo-chevy-beh-dies/", "page": 49, "title": "Malaysia\u2019s BookDoc Founder & CEO Chevy Beh dies", "contents": "Chevy Beh, the Founder and Chief Executive Officer of Malaysia-based MedTech firm \u201cIt is with great sadness that we inform you of the passing of Datuk Chevy Beh \u2013 BookDoc\u2019s Founder and CEO. He was a respected entrepreneur who was loved by many. Our thoughts and prayers go to his family especially during this difficult time,\u201d BookDoc wrote in a Facebook post. The eldest son of Malaysia-based BP Healthcare Group Founder and Chairman Beh Chun Chuan, Chevy passed away on Tuesday, the group said in a separate Facebook post. He was described as \u201can esteemed polo player of BP Polo Club, a passionate entrepreneur and an articulate leader who is widely known for his trend-changing contributions to the healthcare industry\u201d. Founded in August 2015, BookDoc has expanded to five countries \u2013 Malaysia, Singapore, Indonesia, Hong Kong and Thailand \u2013 and 20 cities. The digital health technology solution provider offers end-to-end solutions across the healthcare continuum connecting patients to healthcare professionals anytime and anywhere while incentivizing people to stay active, according to its website. The startup counts Brunei Prince, family member of the late Macau tycoon Stanley Ho among its investors. BookDoc has raised a seed round of financing which includes a $2 million investment from Prince Abdul Qawi, a member of The House of Bolkiah, the ruling family of Brunei, Beh was also an early investor of NASDAQ-listed genetic and diagnostic health testing firm Photo credit: BookDocVCs scout opportunities in MedTech despite higher valuation fueled by pandemic"}, {"url": "https://technode.global/2022/08/19/malaysian-islamic-app-thenoor-seeks-to-raise-1m-through-islamic-ecf-platform-ethis/", "page": 49, "title": "Malaysian Islamic app TheNoor seeks to raise $1M through Islamic ECF platform Ethis", "contents": "Malaysia\u2019s Islamic lifestyle app The potential deal will raise the firm\u2019s pre-money valuation to $10.74 million. TheNoor Co-Founder and Chief Technology Officer Mohd Izzairi Yamin said in a statement that the investment will be channeled to capitalize on a fast-growing market, increase research and development push, enhance advertising and promotion efforts as well as grow the team. \u201cThe crowdfunding will help us refine our application so that we continue to create offerings that will nurture and enrich the lifestyles of Muslims around the globe. The halal industry is swiftly becoming a competitive and fast-moving sector globally and we want to tap this through tech,\u201cTech enables more Muslims to achieve their spiritual commitment by transforming how we engage with Islam. We are continuously working on a variety of new features to create added value for our users and will see the rollout of more interactive content, educational offerings for kids, Shariah Counters Projections, an e-wallet and more,\u201d he said. TheNoor (which means light in Arabic) is a shariah-guided company with an aim to bring Muslims closer to Islam through continuous learning and exposure to the teachings of Islam via fresh, accessible, interactive and individualized methods. Since launched in January 2021, the firm has already gained nearly 6 million downloads on the Google Play Store and the Apple App Store, empowering over 2.8 million registered users. Aside from helping users achieve their spiritual commitment, the app brings them closer to their religion through continuous learning and exposure to the teachings of Islam through a more fresh, accessible, interactive and individualized method. The app aims to help more Muslims live a holistic lifestyle through its variety of in-app features, which include real-time location detection to discover close-by mosques and Qiblah, prayer time schedules, seamless Zakat payment tracking, built-in Faraid algorithm to calculate and allocate estates and weather updates. The current core application provides a modern and comprehensive on-the-go Al-Quran player that comes with high-resolution audio voice translation options in five languages, with more languages soon to be added. It also features Al-Quran reading assistance for beginners. The app is compatible with active gears allowing users to track their Solah patterns and monitor their calorie burn rate during Solah. The in-app marketplace, NoorCommerce, has been revamped, enabling users to browse, purchase and sell halal products in multi currencies. \u201cTheNoor was designed for Muslims like you and me who juggles between the demand of modern lives whether at home, work or when we travel. It is a go-to resource for Muslims everywhere to form meaningful relationships with the religion through guided teachings and offerings that are rooted in Islamic principles and ideals. Not only can technology help us be more productive and connected, but it can also help us become better Muslims,\u201d said Noor Neelofa Mohd Noor, TheNoor Co-Founder and Chief Executive Officer. This year, in collaboration with Tabung Haji Travel & Services Sdn Bhd (THTS), TheNoor plans to introduce in-app umrah packages, enabling users to conduct everything umrah related- from registrations and bookings right up to the completion of the Islamic pilgrimage. It also includes a mutawif tracker, detailed travel itinerary, travel insurance, currency exchange services and an umrah course for users to get a refresher on rituals. \u201cAs the first shariah-compliant ECF platform in Malaysia, there is a natural synergy between us and TheNoor in terms of our core values, propositions and fundamental beliefs to support the rapid growth of the Islamic economy together,\u201cAt ETHIS, we are honoured to be able to support TheNoor\u2019s crowdfunding campaign as part of their continued growth journey and ambition to impact Muslims around the world. We see that as an ongoing effort to circulate good not just amongst Muslims but also involving the general society. This crowdfunding campaign serves as an opportunity for all to support one of the fastest growing Malaysian Islamic-based tech startup by way of investing in them,\u201d said Ethis Malaysia Chief Executive Officer Wan Mohd Dazriq Wan Zulkiflee. TheNoor existing partners include Bank Islam, Fasspay, Fipper, Furada, Google Cloud, King Fahd Glorious Quran Printing, PPZ Kuala Lumpur, Max Money, Split, Tabung Haji Travel, ZeptoExpress and Zurich General Takaful. Malaysia\u2019s Islamic crowdfunding platform Ethis Group raises $1.7M in pre-Series A round"}, {"url": "https://technode.global/2022/08/19/malaysias-proton-finalizes-deal-to-sell-smart-electric-vehicles/", "page": 50, "title": "Proton finalizes deal to sell Smart Automobile Co\u2019s electric vehicles in Malaysia & Thailand", "contents": "Malaysian automaker The first smart model to be sold by Proton during the first phase of the collaboration will be launched in early the fourth quarter of 2023, Proton said in a statement. While Proton\u2019s collaboration with smart is primarily a retail operation, Proton said there are big picture developments to pave the way for its entry into the new energy vehicle market. For instance, the company announced its intention to invest in a charging network by collaborating with a local charging provider as well as to provide and install domestic units for customers who intend to charge their vehicles at home. Proton also announced its intention to model retail operations for smart on what the company does in other markets. Therefore, there will be a heavy emphasis on an integrated digital lifestyle and other elements that will marry customer preferences with a connected digital solution encompassing journey planning, charging availability and even purchase considerations. Another facet the company is exploring is to use its entry into the market segment to attract young talents. With the rapid shift in job preference for new workers, Proton will use its long-term plans for sustainability and energy efficiency as well as increasing its environment, social and governance (ESG) scores to appeal to the next generation of automotive industry workers. \u201cToday marks a big step for Proton\u2019s entry into the new energy vehicle market. The first phase of business with smart is focused on retailing but it provides us with valuable knowledge and experience on not only how to service and charge EVs but also how to transform the way we interact with our customers, \u201cThe move into this market segment will also help drive PROTON\u2019s move towards being more environmentally friendly in all facets of our operations as we work to help Malaysia achieve its carbon neutrality target by 2050,\u201d said Li Chunrong, Chief Executive Officer of Proton. In January last yearThe global headquarters of the new joint venture has been set in Hangzhou Bay, Ningbo with operational sales functions based in China and Germany. The new generation of smart vehicles will be designed by the worldwide Mercedes-Benz Design network and developed by the Geely global engineering network. Future production will be located in China, smart said in a statement then. Vietnam\u2019s VinFast to focus on US, European EV markets before expanding in Southeast Asia"}, {"url": "https://technode.global/2022/08/18/malaysian-businesses-harness-technology-to-increase-efficiency-says-cpa-australia/", "page": 50, "title": "Malaysian businesses harness technology to increase efficiency, says CPA Australia", "contents": "Most Malaysian businesses are planning to accelerate their use of technology over the next year, to drive efficiency and tap into bigger profit opportunities, according to The firm said in a statement on Wednesday the vast majority of the 108 Malaysian respondents (94 percent) expect their business to increase technology use over the next 12 months, as its findings show a positive link between technology use and higher profit margins. CPA Australia\u2019s Malaysian Digital Transformation Committee Chairman Bryan Chung FCPA said it is apparent that most Malaysian businesses are taking action to improve technology adoption. \u201cOver the next 12 months, a higher percentage of Malaysian businesses compared to the survey average are planning to improve technology adoption by increasing technology training for employees, increasing investment or upgrading technology and implementing a digital transformation strategy. \u201cOne key finding from this year\u2019s survey is that big data has become a focus point when making business decisions. Not only are businesses hiring staff with this expertise, they are also investing in software that will help them in the area of data analytics for the future,\u201d he said. According to Chung, operational efficiency is a leading reason for the take-up of new technology among respondents (62 percent). This corresponds with findings of an expected increase in use of data analytics and visualisation software, robotic process automation (RPA) and artificial intelligence. \u201cThe uptake of RPA in Malaysia is particularly exciting. Thirty-nine per cent of Malaysian respondents said their business plans to increase use of this technology to drive operational efficiency in the next 12 months. This is 15 percentage points higher than the survey average,\u201d he said. The findings from this survey coincide with the findings of the CPA Australia\u2019s Asia-Pacific Small Business Survey 2021-2022, which found business owners are motivated to pursue technological innovations for long-term growth as opposed to short-term survival. Chung said it is important that businesses develop and implement a long-term digital transformation strategy to ensure business longevity. \u201cThere are quite a few national initiatives that empower businesses with an injection of capital to increase technology adoption and digitalisation. This aligns with the national aspiration of achieving a \u2018high technology nation\u2019 status by 2030. \u201cProfessionals can also look at upskilling themselves to be more data proficient to meet the changing focus of the business sector. There are many incentives or programs available to facilitate this change. Respondents also are investing in human capital, which is promising,\u201d he said. The Business Technology Survey 2022 was conducted from May 28 to July 12. The findings came from 820 accounting and finance professionals working in Australia, China, Hong Kong, Malaysia, New Zealand, Singapore and Vietnam. In Malaysia, the 108 respondents came from a wide variety of industries, with consulting (15 percent), education and training (13 percent) and public practice/CPA firm (11 percent) having the largest representation. Forty-seven percent of the Malaysian respondents (51 people) worked in a company with 500 or more employees and 53 percent (57 people) worked in a company with fewer than 500 employees.  Malaysia\u2019s MRANTI to open new learning and development centre to ramp up technology-savvy talent pool and innovation portfolio"}, {"url": "https://technode.global/2022/08/16/the-flexi-group-merges-common-ground-the-hive-and-the-cluster-to-create-largest-flexible-workplaces-operator-in-asia-pacific/", "page": 50, "title": "The Flexi Group merges Common Ground, the Hive and The Cluster to create largest flexible workplaces in Asia-Pacific", "contents": "The Flexi GroupThe Flexi Group said in a statement that with this merger, The Flexi Group will boast a portfolio of 45 locations across 12 cities and nine countries \u2013 including Malaysia, Hong Kong, Singapore, Australia, Thailand, Taiwan, Vietnam, Philippines, and Japan \u2013 as well as offer holistic membership solutions for businesses of all sizes, ranging from typical coworking memberships to full-service enterprise and white labeled management solutions. This first merger, in a series of planned consolidation activities, is supported by investment from Malaysia-based Emissary Capital and Singapore-based Catcha Group. It is also a step in the direction of an initial public offering (IPO) that will enable The Flexi Group to consolidate the region\u2019s flexible workspace industry through merger and acquisition and to lead the future of work in Asia Pacific- and beyond. \u201cWe are delighted to launch The Flexi Group as the leading provider of flexible workspaces in the Asia-Pacific region. The pandemic has changed the way the world works, with businesses of all sizes shiftingThe Flexi Group said that unlike other flexible workspace companies, the firm has an asset-light approach to its real estate ventures, partnering with landlords on joint ventures instead of taking on large and unwieldy rental agreements. Its landlord partners in Asia include Petronas in Malaysia, Central Group in Thailand, Chinachem Group in Hong Kong, Ortigas in the Philippines and Hirsch and Faigen in Australia \u2013 with more to come in the next few months. \u201cWe work with some of the leading landlords in the region who see flexible workspaces as a natural evolution of their business. They work with us to help engage the tenants in their buildings, offering them access to best-in-class events, flexible work solutions and bookable meeting and event spaces, \u201cAsset owners can also unlock revenue potential as our partners see increased returns of up to 30 percent versus a traditional lease structure,\u201d said Edwards. Along with their landlord partners, The Flexi Group said it will continue to expand its three unique brands the Hive, Common Ground and The Cluster across the region with multiple new locations set to open in Malaysia, Australia, Thailand, Philippines and Singapore over the next 12 months. \u201cOur multi brand for a multi-demographic approach is unique in the region. This strategy gives us the opportunity to partner with landlords across a variety of asset classes across Asia and Australia, \u201cWith our multiple brands targeting a different market segment across a variety of industries, we will see exponential growth and are forecasting to grow by up to 100 locations in the next three years,\u201d said Edwards. The Flexi Group is expected to be headquartered in Kuala Lumpur, Malaysia. Singapore co-working firm Deskimo raises $3M Seed Round and expands to Jakarta"}, {"url": "https://technode.global/2022/08/16/malaysias-mavcap-announces-new-coo-and-cio/", "page": 50, "title": "Malaysia\u2019s MAVCAP announces new COO and CIO", "contents": "Malaysia Venture Capital Management Berhad (MAVCAP)\u201cAs the largest venture capital (VC) firm in Malaysia, it is our mandate by the Government of Malaysia to continuously advance the tech industry by onboarding highly capable professionals from abroad and locally with global familiarity,\u201cWe are fortunate to have individuals of Noor\u2019s and Paramjit\u2019s calibre and expertise to spearhead MAVCAP\u2019s impact investment based on sustainability measurement and digital transformation under the leadership of our Chief Executive Officer, Shahril Anas Hassan Aziz,\u201d MAVCAP chairman Tunku Alizakri Alias said in a statement. Noor Amy Ismail, MAVCAP COO, brings close to 24 years of corporate and small and medium enterprises (SMEs) experience across diverse industries in Malaysia and internationally. She has held leadership roles with firms such as Deloitte Touche, Media Prima Berhad, the Prime Minister\u2019s Office of Malaysia, MediaCorp of Temasek Holdings (Singapore), InvestKL and FGV Holdings Berhad, amongst others, and co-founded a logistic and self-storage SME since 2006. Having spent years in London, she has contributed to the United Kingdom\u2019s (UK) Department of Business, Energy, Industrial and Strategy in the development of a MYR3 billion ($670 million) anchor collaboration initiative supporting over 30,000 SMEs in the UK to level-up their digital strategy and execution and co-founded two food and beverage outlets in Bayswater, London. She is a Sloan Fellow from the London Business School and currently a Doctoral (PhD) candidate at Brunel University, London, specialising in Malaysia\u2019s SMEs inter-collaboration framework for digital adoption. She is also a council member of a global social impact NGO supported by Social Value International. MAVCAP CIO, Paramjit Singh Gill, has extensive experience spanning over 13 years in regional corporate investment banking, structured finance and private equity. He began his career at Maybank Investment Bank Berhad and subsequently joined OCBC Bank Berhad as Director and Country Head of Malaysia for Mezzanine Capital Unit with assets under management of over MYR3 billion ($670 million). During his tenure, he led various regional corporate transactions across the bank\u2019s core markets covering various sectors and industries. \u201cBoth talents have in-depth experience and proven outstanding track records, and we are confident that they will continue to further drive MAVCAP forward in championing a vibrant VC ecosystem for Malaysia and spurring local and regional opportunities for tech start-ups and entrepreneurs,\u201d said Shahril Anas Hassan Aziz, MAVCAP Chief Executive Officer. MAVCAP is Malaysia\u2019s largest VC company in the technology space. Established in 2001, it has a portfolio value of almost MYR5 billion ($1.12 billion) in the funds that the firm and its private sector partners manage. As a government-backed VC under the purview of the Ministry of Finance and Ministry of Science Technology and Innovation, the firm has been championing the government\u2019s mandate by developing local VC talent, creating local VC companies and attracting foreign VCs and funding into Malaysia. Malaysia\u2019s MAVCAP launches two new tech-focused venture capital funds, targets total fund size of $38.26M"}, {"url": "https://technode.global/2022/08/15/funding-societies-launches-enhanced-sme-focused-term-financing-bizfund/", "page": 50, "title": "Funding Societies launches enhanced SME-focused term financing BizFund", "contents": "Funding SocietiesFunding Societies said in a statement that its zero-collateral BizFund provides Malaysian SMEs with financing up to RM300,000 ($67,355) with repayment up to 18 months. The simple, hassle-free submission process is fast and initiated through Funding Societies\u2019 online platform. The product is offered for SMEs that have been in operation for at least 12 months, with a minimum of 30 percent local shareholding by Malaysians. \u201cBizFund caters to SMEs with annual revenue from RM1 million ($224,517) who are looking to grow their business by quickly raising sufficient capital to manage cash flow. They can leverage on BizFund\u2019s zero collateral, hassle-free submission process with disbursement within seven days to enhance their capital fueling business operations and time-sensitive expansion,\u201d said Chai Kien Poon, Country Head of Funding Societies Malaysia. According to Funding Societies, one major challenge faced by SMEs when seeking financing facilities is the potentially long financing disbursement process. The application process is often complicated involving various documents which must be certified and submitted manually. In addition to that, most SMEs find their application turned down because they lack the collateral needed. This places SMEs in a tight spot as without adequate financing, SMEs face insufficient cash flow to maintain operations or grow their business. \u201cBizFund is developed to address these challenges SMEs face when they seek financing to grow their business. By making this business financing facility zero-collateral with fast disbursement, SMEs can tap into the recovery market\u2019s potential which would otherwise be hampered by the lack of business capital, \u201cMalaysia\u2019s domestic economy is projected to grow between 5.3 percent to 6.3 percent; after a tough two years coupled with delayed payments as customers stretch their ringgit and supply chains are disrupted, access to funds is imperative for SMEs to benefit from that growth as well as contribute towards it, \u201cFunding Societies, staying true to our mission of enabling the growth of ASEAN SMEs through digital financial services, will continue to identify tailor-made opportunities meeting the needs of SMEs in each market we operate in,\u201d he added. Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia, and Thailand, registered in Malaysia, and operates in Vietnam. The firm is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. In seven years, it has helped finance over 5.1 million business deals close to RM11 billion ($2.47 billion) in funding. Funding Societies acquires CardUp to drive payments expansion"}, {"url": "https://technode.global/2022/08/10/google-cloud-to-bring-its-first-cloud-regions-to-malaysia-new-zealand-and-thailand/", "page": 50, "title": "Google Cloud to bring its first cloud regions to Malaysia, New Zealand, and Thailand", "contents": "Google CloudThe three regions will join six other previously announced Google Cloud regions, namely Berlin, Dammam, Doha, Mexico, Tel Aviv, and Turin, Google Cloud said in a statement. When they launch, these new regions will join Google Cloud 34 cloud regions currently in operation around the world \u2014 11 of which are located in Asia Pacific \u2014 delivering high-performance services running on the cleanest cloud in the industry. Enterprises across industries, startups, and public sector organizations across Asia Pacific will benefit from key controls that enable them to maintain low latency and the highest security, data residency, and compliance standards, including specific data storage requirements, according to Google Cloud. \u201cThe new Google Cloud regions will help to address organizations\u2019 increasing needs in the area of digital sovereignty and enable more opportunities for digital transformation and innovation in Asia Pacific. With this announcement, Google Cloud is providing customers with more choices in accessing capabilities from local cloud regions while aiding their journeys to hybrid and multi-cloud environments,\u201d said Daphne Chung, Research Director, Cloud Services and Software Research, IDC Asia/Pacific. According to the statement, the new Google Cloud regions in Malaysia, Thailand, and New Zealand will help its customers continue to enable growth and solve their most critical business problems. Google Cloud will also work with its customers to ensure the cloud region fits their evolving needs. These new cloud regions represent Google Cloud ongoing commitment to supporting digital transformation across Asia Pacific. Google Cloud will continue to invest in expanding connectivity throughout the region by working with partners in the telecommunications industry to establish subsea cables \u2014 including Apricot, Echo, JGA South, INDIGO, and Topaz \u2014 and points of presence in major cities. MAS and Google Cloud launch Point Carbon Zero Program to catalyse climate FinTech solutions"}, {"url": "https://technode.global/2022/08/10/malaysias-vynn-capital-vynn-capital-shares-research-insights-on-southeast-asia-cross-border-commerce-landscape/", "page": 50, "title": "Malaysia\u2019s Vynn Capital shares research insights on Southeast Asia cross-border commerce landscape", "contents": "Malaysia-headquartered early-stage venture capital firm Small-medium enterprises (SMEs) are now finding themselves in a position that requires greater support in the form of a more efficient supply chain, as the digitalization of economies and cross-border e-commerce activities increase, the VC firm said in a statement. Vynn Capital\u2019s research points out the importance of technology in addressing the supply chain gap to allow for further growth, as SMEs and companies are tapping into opportunities of cross-border trades. According to Vynn Capital, Southeast Asia, in general, sees more consumers purchasing cross-border goods as digital platforms become more mainstream. This trend has attracted more investment dollars into the supply chain industry, due to the integral role of technology in scaling logistics infrastructure to support growing consumer and SME demand. In the case of Malaysia and Indonesia, Vynn Capital highlighted that investment volume into retail e-commerce as a percentage of total investment volume has increased to 16 percent and 36 percent in 2021, from 6 percent and 31 percent respectively in 2020. Vynn Capital anticipates several key trends to play out in the supply chain and mobility space:(ii) Autonomous electric vehicles, trucking and \u201cinnovative\u201d ways of delivering goods will also be favored as technology becomes more efficient and productivity is prioritized, as cross-border e-commerce activity increases. (iii) Larger enterprises to participate in the innovation cycle of mobility and supply chains, through internally developed technologies, collaborations and investments in startups over the short to medium term, allowing expansion to adjacent industries e. g. financing and insurance. The research findings can be requested from the firm or downloaded from the Vynn Capital is a Southeast Asia focused early-stage VC firm investing in early stage tech startups. As a sector-focused investor, Vynn Capital is eyeing on the supply chain and mobility industries including but not limited to logistics, travel and fast-moving consumer goods. KPMG-HSBC report spots 10 potential unicorns in Malaysia: here\u2019s a closer look"}, {"url": "https://technode.global/2022/08/09/applepay-malaysias/", "page": 50, "title": "Apple Pay launches in Malaysia", "contents": "AppleStarting today, thousands of retailers in Malaysia will accept Apple Pay, with support from some of the country\u2019s most established banks across major credit and debit networks, Apple said in a statement. According to Apple, customers with Visa and Mastercard cards from banks including AmBank, Maybank, and Standard Chartered Bank can now use Apple Pay, with American Express cards to be available with Apple Pay later this year. Merchants such as KFC, Maxis, Machines, McDonald\u2019s, Mydin, Pizza Hut, Starbucks, U Mobile, Uniqlo, Village Grocer, and Watsons \u2014 and apps and websites including Shopee, Sephora, Atome, and Adidas \u2014 now offer customers the ability to pay with Apple Pay, it added. \u201cWe are delighted to bring Apple Pay to Malaysia, providing an easier, safer, and more secure way to pay with iPhone, Apple Watch, iPad, and Mac. We think users will love the convenience and security of using Apple Pay,\u201d said Jennifer Bailey, Apple\u2019s vice president of Apple Pay and Apple Wallet. \u201cOur customers in Malaysia will benefit from using Apple Pay with the support of the most popular banks, merchants, and our customers\u2019 favourite apps,\u201d she said. Today, Apple Pay is available in over 60 countries and regions, and works with more than 10,000 bank and network partners worldwide. In a separate statement, Maybank, Malaysia\u2019s largest bank, announced that its Maybank and Maybank Islamic Mastercard and Visa Credit, Debit and Prepaid Cards can now be used with Apple Pay service in Malaysia and Singapore effective 9 August while the Maybank American Express Cards will soon be included. Maybank card members will benefit from access to this safe, contactless and easy way to pay, as part of the bank\u2019s continued efforts to expand its retail digital offerings in tandem with customers\u2019 evolving lifestyle trends, said the bank. Maybank Group Chief Executive Officer, Community Financial Services, John Chong Eng Chuan said this showcases the bank\u2019s continued commitment to provide seamless digital payment methods for its customers. \u201cWith our growing presence in this business segment, supported by the combined card user base of 15 million across both markets, Maybank is well placed to leverage the ease, safety and privacy of Apple Pay that would benefit our customers in both countries,\u201cAs one of the leading financial institutions in the region, we are pleased to bring Apple Pay to our customers in Malaysia and Singapore. This revolutionary digital payment platform will enhance our customers\u2019 experience, while providing another avenue for them to transact online with increased mobility and in a secured manner,\u201d said Chong. In a separate statement, AmBank Group Chief Executive OFficer Sulaiman Mohd Tahir said the adoption of digital payments has accelerated over the past few years, benefiting both merchants and consumers. \u201cMost Malaysians are likely to have their mobile phones ready at hand, and in view of that, we are enhancing our mobile banking services by providing more convenient ways to make payments. We are thrilled to expand the possibilities with Apple Pay to bring easy, secure and private payments to our customers,\u201d he said. Ant-backed e-wallet Touch \u2018n Go launches digital personal loan facility"}, {"url": "https://technode.global/2022/08/08/yinson-signs-mou-with-gocar-to-provide-charge-ev-solutions-and-services-to-gocar-users/", "page": 50, "title": "Yinson signs MOU with GoCar to provide charge EV solutions and services to GoCar users", "contents": "Yinson GreenTech (YGT), the green technologies division of Yinson said in a statement on Monday that under the agreement, Green EV Charge will provide access to chargEV\u2019s charging infrastructure to GoCar\u2019s fleet of electric vehicles (EVs) through chargEV\u2019s mobile app, allowing GoCar users to conveniently locate and use more than 400 readily available chargEV chargers in Malaysia. According to the statement, users will also be able to charge their EV and monitor the charging status via the app, plus benefit from chargEV\u2019s comprehensive customer care services. In the longer term, both parties will work towards integrating respective technologies to deliver a seamless experience for GoCar users. Green EV Charge is a joint venture between Yinson Green Technologies (M) Sdn Bhd and GreenTech Malaysia Alliances Sdn Bhd, a wholly owned subsidiary under the Malaysian Green Technology and Climate Change Corporation, a government agency under the purview of the Ministry of Environment and  Water (KASA). The joint venture is tasked to roll out the commercialisation, operation and maintenance of charging infrastructure in Malaysia through the brand chargEV. Yinson Executive Vice President of Technology and New Ventures Eirik Barclay said this partnership encapsulates both parties\u2019 joint commitment to work together to expand our complementing solutions. \u201cIt marks another exciting step towards our shared goal of ultimately accelerating the electrification of the marine, mobility and energy ecosystem in Malaysia in line with the country\u2019s aim to become a carbon neutral nation by 2050,\u201d he said. Yinson GreenTech Senior Vice President Electromobility Ruslin Tamsir said as the leading EV charging infrastructure provider in Malaysia, chargEV is excited to partner with GoCar, which is one of the country\u2019s fastest growing on-demand vehicle sharing platforms. \u201cWe believe that chargEV\u2019s new back-end system and mobile app, together with our rapidly expanding charging infrastructure network will be able to support the growth of GoCar\u2019s network and user base. Working together, we believe we can position EVs as an attractive and sustainable transport option in Malaysia,\u201d he said. GoCar Malaysia Chief Executive Officer Wong Hoe Mun said he is excited about this partnership with Green EV Charge. \u201cEnhancing connectivity to chargEV will help improve the user experience of EV charging throughout Malaysia. We are proud to champion a smarter, greener way of commuting. GoEV has seen great success in making EVs affordable and accessible to the general public,\u201cThe integration with chargEV will offer even more accessibility. Through our GoCar mobile app, any EV user, not just GoCar members will be able to seamlessly connect to both networks for their EV charging needs,\u201d he added. Listed on the main market of Bursa Malaysia Securities Berhad, Yinson is a global energy infrastructure and technology company invests in four business divisions \u2013 offshore production, renewables, green technologies and offshore marine. Its geographical presence extends across the world, from West Africa, the Americas, Europe and Southeast Asia. The firm has diversified into renewables in 2019, and targets to become one of the leading clean energy independent power producers (IPPs) globally. GoCar Malaysia is an on-demand app-based platform that offers \u2018mobility-as-a-service\u2019 solutions in Malaysia from sharing \u2013 with hourly and daily access to a GoCar, to subscription that offers wide-range of models, with the flexibility to swap. The firm has a fleet of more than 1,000 cars and it is continuing to scale. It has actively diversified our offerings with EV charger solutions under GoEV Charger, insurance made easy with GoInsuran, a seamless and transparent car servicing solution via GoCar Garage and GoEV as the latest addition to the range of services available under GoCar. Since the launch of GoEV in December 2021, it has had more than 1,000 GoEV users clocking an excess of 500,000 km, with more than 90 percent of users being first-timers to EVs. The GoEV line-up now includes the Hyundai Kona on top of the Nissan LEAF and its goal is to expand to 100 EVs in the fleet by the end of 2022. Shell invests in Malaysia\u2019s smart mobility solution provider ParkEasy"}, {"url": "https://technode.global/2022/08/05/malaysias-grab-foodpanda-food-delivery-riders-on-24-hour-strike-call-for-better-fees-benefits-report/", "page": 50, "title": "Malaysia\u2019s Grab, Foodpanda food delivery riders on 24-hour strike, call for better fees & benefits \u2013 report", "contents": "A group of Dubbed \u201cFood Delivery Blackout\u201d, riders who attended a press conference said that the number of p-hailing and e-hailing drivers that went on strike on Friday is still unknown, but it is happening nationwide. At the press conference, several riders said they have to bear payment to Employees Provident Fund (EPF), Social Security Organisation (Socso), as well as issues with claiming insurance whenever an accident occurs. A delivery rider said at the press conference that he was unhappy about the rates they\u2019ve been given. \u201cPreviously, a few hours work from morning to afternoon could get me MYR100, now it\u2019s tough to even get MYR40 for an entire day\u2019s work,\u201d a delivery rider who only wanted to be known as Boo reportedly said. Other riders also claimed that they were not compensated fairly for deliveries, according to another report. On Thursday, Grab E-hailing service provider Grab Malaysia clarified that there was no reduction in base fares for their delivery services, local media Grab reportedly said the recent concern raised by a delivery partner in July was due to \u201ca glitch in Grab Malaysia\u2019s system\u201d, where the rider noted a discrepancy in his earnings. \u201cWe have since rectified the issue, and have transferred the shortfall to all affected partners, and clarified the matter via our official communication channel to our partners on July 21. We apologise for the inconvenience this may have caused for our partners and would like to encourage our partners to reach out to us via our Facebook, or visit us at Grab Driver Centre & Kiosks (GDC) should they have any further queries,\u201d the statement read, according to the media report. On Thursday, Capital A\u2019s airasia super app announced that they are offering its gig workers full-time employment with a minimum monthly wage of MYR3,000 as well as benefits that include EPF, Socso, and medical coverage. Grab and Foodpanda have yet to respond to Listed on NASDAQ last year, Singapore-headquartered Grab is one of Southeast Asia\u2019s leading superapps, offering everyday services to over 670 million people across Singapore, Indonesia, Malaysia, Thailand, Philippines, Vietnam, Cambodia, and Myanmar. These services consist of deliveries (food, groceries, packages), ride-hailing services, financial services (lending, insurance, cashless payments and wealth management), enterprise, among others. Foodpanda is an online food and grocery delivery platform owned by the German Delivery Hero. Foodpanda operates as the lead brand for Delivery Hero in Asia, with its headquarters in Singapore. It is currently the largest food and grocery delivery platform in Asia, outside of China, operating in 12 markets across Asia. Airasia Super App offers gig riders in Malaysia full-time employment"}, {"url": "https://technode.global/2022/08/05/airasia-super-app-offers-gig-riders-in-malaysia-full-time-employment/", "page": 51, "title": "Airasia Super App offers gig riders in Malaysia full-time employment", "contents": "AirasiaAll airasia food and airasia xpress riders will be employed as full-time employees, effective immediately, enjoying a full suite of Allstar benefits which include employees provident fund (EPF), SOCSO, medical coverage that covers their spouses and children as well, annual leaves, and travel benefits such as AirAsia Flights ID90 and e-coupon schemes, airasia said in a statement. This is on top of guaranteed income up to RM 3,000 monthly, exclusive airasia rider training as well as free personal accident coverage. Based on performance, riders can also earn extra incentives. \u201cWe are thrilled to be welcoming the riders into our family. As many people know, airasia has always been about people, and we believe that people are our greatest asset. This applies across all of Capital A\u2019s business units, including the airasia Super App. Just as our baggage handlers, cabin crew, and pilots are the backbones of our aviation business, these gig workers are the heroes of our delivery operations, \u201cWe don\u2019t believe in contract staff and will now move towards employing all riders as full-time employees, receiving the same benefits that every Allstar receives, on top of the excellent benefits from airasia food & airasia xpress respectively,\u201d Tony Fernandes, Chief Executive Officer of airasia parent firm Capital A. \u201cOver the years, airasia has created tens of thousands of job opportunities across the region. With our expansion as a super app platform, we have also depended on gig workers\u2019 crucial services for lifestyle services such as food & parcel deliveries. \u201cGiving full-time employment to our gig riders is more than just offering them Allstar benefits; it\u2019s about adding value to their lives and career paths, allowing them to dream and making those dreams come true. By being full-time employees, they are part of the larger Capital A ecosystem, where they will have opportunities to explore and develop their careers further. From a delivery rider, they can become a cabin crew, a pilot, a data analyst, a digital marketer, part of the corporate office \u2013 the possibilities are endless,\u201d he added. Airasia food is currently serving customers in Malaysia, Singapore, Thailand, and Indonesia and the delivery service by airasia xpress is currently available in Malaysia, Singapore, and Thailand.  Malaysia\u2019s AirAsia, UK\u2019s Skyports seal partnership to explore air taxi in Malaysia"}, {"url": "https://technode.global/2022/08/03/catcha-investment-corp-2-0-withdraws-250-million-ipo/", "page": 51, "title": "Catcha Investment Corp 2.0 withdraws $250M IPO", "contents": "Catcha Investment Corp 2.0, the second blank check company formed by Southeast Asian internet group Catcha Group, has withdrawn its plans for an initial public offering (IPO) in the United States. Catcha Investment Corp 2.0 is incorporated in the state of Cayman Islands. Catcha Investment Corp 2.0 is primarily in the business of blank checks, according to U. S. Securities and Exchange Commission. \u201cThe company is withdrawing the Registration Statement because it has determined not to pursue an initial public offering of its securities. Therefore, withdrawal of the Registration Statement is consistent with the public interest and the protection of investors, as contemplated by paragraph (a) of Rule 477 under the Securities Act,\u201d the special purpose acquisition company (SPAC) said The SPAC has filed in March 2021 to raise $250 million by offering 25 million units. Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant, its earlier prospectus showed.  The withdrawal request also came as SPAC activity started to lose its popularity this year. SPACs were the preferred way for tech companies to go public in the past two years. Singapore-headquartered super app Grab went public on NASDAQ last year after Altimeter Growth Corp\u2019s investors approved the merger between the two companies. Market uncertainties and the threat of tighter regulations towards SPAC deals have affected investors\u2019 and sponsors\u2019 appetite. Catcha Investment Corp 2.0 was set to be led byChairman and Chief Executive OffcerPatrick GroveandPresident and DirectorLuke Elliott, co-founders of Catcha Group. Grove is also the Chairman and CEO of Catcha Investment Corp (Catcha Investment 1), while Elliott is also the President and Director of Catcha Investment 1. Catcha Investment 1 completed its IPO in February 2021. Catcha Investment Corp 2.0 intends to focus its search on a target with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors, which it refers to as the \u201cnew economy sectors\u201d, across Asia Pacific, in particular Southeast Asia and Australia, according to its prospectus. Founded in 1999 and led by Grove and Elliott, Catcha Group said it is one of the earliest and most established internet-focused investment groups in Southeast Asia and Australia. Headquartered in Malaysia and Singapore and with over 20 years of operating experience, Catcha Group has a strong focus and deep local understanding of the region, according to its website. [Updated] Catcha Group\u2019s Patrick Grove considers SPAC-listing in Singapore"}, {"url": "https://technode.global/2022/08/02/kpmg-hsbc-report-spots-10-potential-unicorns-in-malaysia-heres-a-closer-look/", "page": 51, "title": "KPMG-HSBC report spots 10 potential unicorns in Malaysia: here\u2019s a closer look", "contents": "A recent report published by audit and advisory firm KPMG and banking group HSBC has featuredThe Emerging Giants in Asia PacificThese potential unicorns, dubbed \u201cEmerging Giants\u201d, include Boost Holdings, Exabytes, Jirnexu, among others. \u201cMalaysia has developed a good understanding of technology and how innovation works, as evidenced by the many home-grown companies listed in the top 10 leading Emerging Giants for Malaysia,\u201d said Guy Edwards, Head of Technology, Media and Telecommunications, KPMG in Malaysia, in a statement last Monday (July 25). \u201cThe list of Emerging Giants in Malaysia excites us because it is proof that our nation has all the right ingredients for start-ups to flourish and be leaders that shape their industry,\u201d said Karel Doshi, Head of Commercial Banking, HSBC Malaysia. According to Securities Commission Malaysia, funding is starting to reach a significant level \u2013 total committed venture capital (VC) funds hit $1.2 billion in 2021, up 20 percent on 2020, and nearly five times more than Malaysian start-ups raised in 2019. There has also been an increase in venture capital deals in the region, with record-breaking numbers in 2021. Although 2022 looks unlikely to repeat the highs of 2021, the first quarter (Q1) 2022 figures suggest that 2022 is on target to exceed both 2020 and 2019 funding levels for Asia Pacific as a whole. This is consistent with the investments in Malaysian startups. $319 million has been invested in Q1 2022 versus $121 million in 2019, $101 million in 2020 (totaling $222 million) and $532 million in 2021. While there is no specific formula to be an \u201cEmerging Giant\u201d, the companies identified were standout players in a wide variety of disciplines, including superior technology and/or technical knowledge, \u201chyper localized\u201d businesses, mastery of logistics channels and supply chain operations, successful adaptations of their business model(s) based on correct identification of market gaps and a winning culture that attracts and retains talent, HSBC and KPMG said in the joint statement on Monday (July 25). We take a closer look at these companies:\n1. Boost is the fintech arm of telco Axiata and a full spectrum FinTech player in Southeast Asia that unifies financial services spanning payments, micro-financing, micro-insurance, cross-border content services and merchant solutions. Boost formed a consortium with Malaysia\u2019s fourth largest banking group RHB Banking Group and won a digital banking license. In 2020, Singapore-headquartered insurance company Great Eastern, has made a strategic investment of $70 million Boost Holdings, a digital financial services unit of Axiata. Great Eastern, a subsidiary of OCBC Bank, will hold a 21.875 percent stake, while Axiata\u2019s unit will control the remaining stake.2. Headquartered in Penang, Exabytes has offices in Kuala Lumpur, Singapore and Indonesia. Founded in 2001, Exabytes said it has grown to be one of Southeast Asia\u2019s leading cloud, e-commerce and digital solutions provider.\n3.\n4. Previously known as 11 Street Malaysia, Presto Mall said it is Malaysia\u2019s largest homegrown online shopping platform, which is part of Presto \u2013 Malaysia\u2019s first homegrown multi-service lifestyle app that offers various lifestyle and convenient features as well as mobile payments. Malaysia\u2019s ACE Market-listed tech firm PUC Bhd acquired a 12.35 percent stake in 11 Street Malaysia in 2018 from SK Planet Global Holdings Pte Ltd and Axiata Digital Services for MYR40 million ($10.22 million). The deal implied a valuation of about MYR323.9 million ($84 million) for 11 Street Malaysia then. PUC later took over the management of the firm and rebranded the e-commerce platform as PrestoMall. PrestoMall has adopted the supply chain model and it is one of the top 10 e-commerce platforms in Malaysia, PUC group managing director and CEO Cheong Chia Chou said 11 Street\n5. Mindvalley\u2019s platforms (website and apps) offer self-development programs for the mind, body, soul, entrepreneurship, career, relationship, among others. Its brands include Lifebook, WILDFIT, Evercoach and Mindvalley Talks. Users can also subscribe to its membership and get access to its programs. Its founder Vishen Lakhiani was a computer engineer and senior leader at a Silicon Valley startup. But he faced extreme stress and was burnt out. He took up meditation as a solution and this changed his life. He quit the valley to study meditation, teach around the world and go into deep mastery of human development. Mindvalley was born as a result, according to its website. Lakhiani, the author of the bestseller The firm is said to be valued at $100 million, according to media reports. Lakhiani said Mindvalley is looking at doubling revenue in the next year. \u201cWe may or may not go for an Initial Public Listing. The goal is ultimately 1 million students enrolled in our online programs,\u201d he said in \n6. Neurogine Group aims to provide a common cross-border mobile banking, payment and investment platform in Southeast Asia. The group is headquartered in the satellite township of Petaling Jaya, Selangor, Malaysia since 2014 and operates three Licensed Entities (LEs) based in Labuan. These LEs are regulated by Labuan Financial Services Authority.\n7. Eatcosys said it is a multi-disciplinary company founded by a group of specialists working as integrated entities to reimagine businesses primed for the next generation. Eatcosys provides an integrated platform with a broad suite of retail and digital solutions to address and remedy any pain points presented in the retail business lifecycle. The integrated platform works across three fundamental verticals: platforms services, technology-enabled services and FinTech.\n8. SAYS or Says. com said it curates Malaysia\u2019s biggest stories, simplifying the latest news on politics, lifestyle, entertainment, fun, and more. It is a Social News Network in Southeast Asia. Its community of social media users curates and shares trending news, and provides pay-for-performance social media content distribution services to advertisers. Within the first 10 months of launching, SAYS. com has already worked with every top advertiser and media agency in Malaysia to engage the social media generation, information from SAYS. com has been acquired by \n9. Lapasar is a B2B wholesale platform aimed to digitizing and simplifying the procurement process. In 2018, Lapasar started out as a B2B platform in the corporate segment. Its clients such as telco Telekom Malaysia, national oil firm PETRONAS or energy firm Tenaga Nasional which buy items for their daily operational needs (laptops, office furniture, etc) from its platform. Last year, Lapasar has raised $1.82 million in funding from NEXEA\u2019s angel investors, family offices and corporate investors that include shopper360 Ltd, who led the funding round. The firm has raised a total of $2.5 million in funding over 5 rounds, according to Crunchbase.10. PolicyStreet is the brand name of Polisea Sdn. Bhd, an approved Financial Adviser and Islamic Financial Adviser in Malaysia. PolicyStreet aims to \u201cdemocratize\u201d insurance by making it simple, easy and affordable through its digital platform. Unicorns-in-the-making: The underrated, untapped, and unknown of Malaysia\u2019s tech ecosystem"}, {"url": "https://technode.global/2022/08/01/malaysias-bank-islam-chooses-aws-as-preferred-cloud-provider-to-power-digital-transformation/", "page": 51, "title": "Malaysia\u2019s Bank Islam chooses AWS as preferred cloud provider to power digital transformation", "contents": "Amazon Web Services (AWS)The bank is using the breadth and depth of AWS\u2019s cloud capabilities, including containers, networking, and content delivery, to build the Be U digital bank to help customers better manage their finances, AWS said in a statement.  According to the statement, Bank Islam is building Be U through its centre of digital experience (CDX), an independent division which is developing new banking services on AWS to transform customer experiences. Bank Islam has over five million customers who increasingly demand new and innovative digital banking services to better manage their finances, including quick response (QR) code payments, and automated supply-chain financing for small and midsize enterprises (SMEs). Before the establishment of CDX, the bank took more than a year to deploy a new financial service using its on-premises infrastructure. By turning to AWS, Bank Islam can develop new digital financial services, including an app, a debit card, and a financing facility, in just a few weeks, to better serve customers. Through CDX, Bank Islam can quickly develop and deliver a portfolio of digital financial services that comply with Islamic/Shariah financial requirements. By using AWS, CDX also gains the agility to innovate rapidly to become more customer- centric at a lower cost, while complying with the bank\u2019s stringent security and compliance control requirements. CDX has also selected cloud-native AWS advanced technology partner Mambu to help further accelerate the bank\u2019s digital transformation journey. Mambu provisioned its cloud-native core banking solution on AWS to power CDX\u2019s development environment in just one day, enabling the bank to build the Be U prototype in three months. This agility helped CDX validate its digital banking technology stack quickly, before beginning production of Be U. On top of this platform, CDX is building new digital banking products using Amazon Elastic Kubernetes Service (Amazon EKS), which gives Bank Islam the flexibility to start, run, and scale Kubernetes container applications in the cloud. With Amazon EKS, CDX can securely create applications that automatically scale and run in a highly available configuration to achieve increased fault tolerance and resilience. With Amazon CloudFront, a content-delivery network service, CDX can deliver content, like educational videos and interactive forecasting tools, via Be U to help customers monitor their spending, control budgeting, and oversee all aspects of their banking experience, including authorizing international credit card spending. AWS\u2019s capabilities will allow Bank Islam\u2019s strategic partners, including financial technology firms and digital marketplaces, to integrate and co-innovate with CDX to provide financial services like payments, financing, and financial advice via Be U, offering customers more ways to manage their finances digitally. \u201cOur aim is to raise the prosperity of all Malaysians, and AWS has given Bank Islam the ability to innovate and quickly launch new digital financial services that are meaningful to our customers\u2019 financial health and well-being,\u201d said Mohd Muazzam Mohamed, Chief Executive Officer of Bank Islam. \u201cWe selected AWS as our preferred cloud provider to benefit from the highest levels of security and compliance, without sacrificing speed of innovation. We were able to develop a prototype for our Be U digital bank in only three months with AWS, and we can now explore advanced cloud services, like machine learning, to develop an alternative credit framework to broaden access to customers who would otherwise have difficulty obtaining a credit line,\u201d he said. Meanwhile, AWS ASEAN Managing Director Conor McNamara said banks of all sizes across Southeast Asia are using cloud technology to drive financial inclusion, deploy disruptive business models to attract customers in the face of new digital challenger banks, and ensure that they can hire and retain top talent. \u201cIn Malaysia, Bank Islam is a great example of that. Working with AWS gives Bank Islam access to an unmatched portfolio of cloud services with the highest levels of security so they can deliver intuitive customer solutions quickly, securely, and at scale. We are proud to support Bank Islam on their journey to develop new digital business solutions to better serve Malaysians,\u201d he added. Malaysia\u2019s Bank Islam launches digital banking app"}, {"url": "https://technode.global/2022/07/28/malaysias-airasia-partners-uks-skyports-to-explore-air-taxi-in-malaysia/", "page": 51, "title": "Malaysia\u2019s AirAsia, UK\u2019s Skyports seal partnership to explore air taxi in Malaysia", "contents": "Skyports InfrastructureThe partnership between AAM industry expert Skyports, and AirAsia, a traditional airline operator, is an important next step in establishing a fully operational vertiport network in the country, AirAsia said in a statement. As the industry matures, partnerships between traditional aviation players and AAM specialists are essential in developing a practical, well-studied, and well-integrated network of vertiports, it said. According to the statement, AirAsia is also actively involved in the operationalisation of AAM in Malaysia. In the past year alone, the company announced future plans to lease 100 Vertical Aerospace VX4 eVTOL aircraft from Avolon, launched its drone training programme, and most recently, extended drone-related training to the high-technology related sectors. Leveraging the strengths of both parties, the partnership will draw on AirAsia\u2019s aviation expertise and experience, as well as its on-ground market knowledge and networks. Complementing this, Skyports Infrastructure brings to the table its global portfolio of designing and building take-off and landing infrastructure for eVTOL passenger aircraft. Skyports Infrastructure\u2019s work is also instrumental in advancing regulatory development across markets, through close collaboration with local regulatory bodies and standards setting organisations.  According to the statement, initial assessments will prioritise Kuala Lumpur, capital city of Malaysia. The one-year partnership will focus on joint feasibility studies for the integration of air taxi vertiport infrastructure, the identification of potential vertiport sites, and the development of operational requirements and frameworks to ultimately implement a vertiport network in Malaysia. \u201cFollowing the announcement of our venture into the urban air taxi service earlier this year, we have been working around the clock to explore its feasibility in Malaysia. This partnership with Skyports will accelerate the review of the infrastructure including vertical take-off and landing platforms in the country as well as strengthen our potential as a zero-emissions ultra-short-haul air travel provider in Southeast Asia,\u201d AirAsia Aviation Group Limited Chief Safety Officer and Head of Advanced Air Mobility Captain Ling Liong Tien said. \u201cAirAsia has revolutionised commercial air travel for the past two decades and we look forward to working with Skyports which will put us ahead of the curve and shape the future of autonomous aviation in the region,\u201d he added. AirAsia\u2019s Advanced Air Mobility is set up to pioneer the commercial application of emerging techs in AAM; namely unmanned aircraft systems (UAS/drones) and electric vertical take-off and landing (eVTOL) to create new revenue streams for the AirAsia brand; and to expand Asean\u2019s connected network beyond airports. \u201cWe are excited to be partnering with AirAsia, a powerhouse airline operator that brings great synergy to our work at Skyports. This partnership highlights the steady progress of AAM development and interest in Malaysia and the wider Asia Pacific (APAC) region, \u201cWith innovative and forward-looking partners like AirAsia, we will be able to take concrete steps towards the realisation of a safe, efficient and fully-integrated air taxi network which brings real benefits to the people and communities it serves,\u201d said Skyports Head of Asia Pacific Yun-Yuan Tay. Skyports Infrastructure is the\u202fleading enabler of\u202fAAM, providing the critical link between the ground and the sky. The company\u202fdesigns, builds\u202fand operates take-off and landing infrastructure for air taxis, and\u202fpartners\u202fwith world-class electric vertical take-off and landing (eVTOL) passenger and cargo vehicle manufacturers around the world\u202fto\u202fenable safe, sustainable and efficient flight operations\u202fwithin urban and suburban environments. A pioneer in the burgeoning AAM industry, the firm has a diverse portfolio of projects across major cities, including Paris, London and Los Angeles. Within the Asia Pacific region, the company has made steady progress, with ongoing partnerships to assess and develop AAM infrastructure in neighbouring Singapore and Japan. Skyports investors include Deutsche Bahn Digital Ventures, Groupe ADP, Irelandia Aviation, Levitate Capital, Solar Ventus, The Goodman Group, Kanematsu Corporation, Ardian, F2i and GreenPoint. Airasia Super App achieves record high growth in average monthly active users"}, {"url": "https://technode.global/2022/07/27/malaysias-meradue-services-partners-with-mdv-to-facilitate-global-growth-and-expansion/", "page": 51, "title": "Malaysia\u2019s Meradue Services partners with MDV to facilitate global growth and expansion", "contents": "Meraque Services Sdn Bhd (Meraque)Meraque said in a statement that the move is to facilitate the growth of Meraque\u2019s operations and expansion in Malaysia and the ASEAN region, with a key focus on the agriculture, plantation, infrastructure and telecommunication sector, through MDV\u2019s specialised financing facility. Meraque Chief Executive Officer Razalee Ismail said the potential financing from MDV will be instrumental in Meraque\u2019s effort to increase its drone production to at least 100 drones a year, scaling its operations globally and tripling its revenue in the next three years. Cited the Drone Market Report 2021-2026, Meraque said the drone technology industry has captured a steadily rising audience, with the global drone market forecasted to achieve $41.3 billion in 2026. Cited a recent study by Malaysian Research Accelerator for Technology & Innovation (MRANTI), it said the Malaysian drone economy is expected to contribute MYR50 billion ($11.21 billion) to the gross domestic product and create 100,000 job opportunities by 2030. \u201cMeraque had developed the first Malaysian Hybrid Spraying Drone in 2020 for the purpose of spraying pesticides and fertilisers at local plantation fields. Currently, Meraque controls the largest market share for drone spraying services in Malaysia and we are looking to train and hire at least 500 local talents by the end of 2023 to meet the growing demand of the palm oil plantation sector as well as other large agriculture lands such as durian, rubber, coconut, paddy field and pineapple,\u201cFinancing from a tech financier such as MDV is crucial to ensure that we are able to achieve our targets as planned,\u201d Razalee added. According to the statement, the palm oil plantation sector faces key challenges in terms of labour shortages and a dip in yield and innovative technology such as drones, robotics and automation have been used by the industry as tools to assist manual labour and increased yield by enabling operations and processes to be done faster, safer and more cost effective. \u201cWith the support of MDV, we will be able to expand our operations especially in the palm oil plantation in Malaysia while enabling our local partners to utilise technology in their operations and provide economic opportunities for communities in the rural areas,\u201d said Razalee. Meraque is a digital transformation and technology company which has pivoted from a conventional facilities management company to become one of the fastest-growing drone technology services companies. Its current technologies are focusing on its hybrid drone in the agriculture sector, enterprise software and hardware solutions for palm plantation management, telco infrastructure inspection and commercial drone delivery solutions. MDV Chief Exeucutive Officer Nizam Mohamed Nadzri, meanwhile, said that as an agency under MOSTI, MDV is committed to supporting the government\u2019s efforts in growing the tech start-up ecosystem holistically and sustainably by ensuring that start-ups funding capacity will be continuously enhanced particularly during the post-pandemic recovery period. As such, he said MDV is consistently working to increase its financing support for high potential technology start-ups such as Meraque to ensure their growth and enabling them to reach their maximum potential. \u201cAs a technology financier, MDV possesses the capacity to support and understand the financing requirements of technology companies, hence we are pleased to explore potential partnership with Meraque to facilitate their expansion journey further,\u201d he said.   Established in 2002, MDV is a government agency with the objective of providing flexible and innovative financing to develop high-impact and technology-driven sectors of the economy, identified and prioritised by Malaysian government as future engines of growth. MDV\u2019s strategic role in the technology financing ecosystem in Malaysia is defined by its approach to funding which is different from other financial institutions. Its niche is helping to fund young technology-based companies or start-ups that are unable to secure financing from commercial financial institutions due to their novel business model, lack of proven operating track record and lack of collaterals. Malaysia\u2019s Petronas, Aerodyne to collaborate on deployment & commercialization of drone-based solutions"}, {"url": "https://technode.global/2022/07/26/alpha-startups-digital-accelerator-seeks-next-gen-early-stage-startups-in-malaysia/", "page": 51, "title": "Alpha Startups\u2122 Digital Accelerator Seeks Next-Gen Early-Stage Startups in Malaysia", "contents": "New startup ideas and business models are key engines of economic growth. They not only create new jobs but also foster competitiveness and innovation, which is why the Malaysian government\u2019s MyDIGITAL initiative is looking to attract two unicorns and launch 5,000 startups in the next five years. In line with this initiative, The six-week fully virtual programme is highly flexible to suit a variety of schedules. The Alpha Startups\u2122 Digital Accelerator (ASDA) Cohort 43 is vertical agnostic. That is to say, participants may join from any industry and any location. \u201cI\u2019d like to extend an open invitation to anyone who wants to start their own startup, whether you\u2019re still only just mulling an idea, or if you have something specific you want to solve,\u201d said Kavidha Natarajan, Head of Education Programmes at 1337 Ventures. \u201cThe programme will take you through ideation to MVP, and beyond the promise of funding through us and other VCs, you will get invaluable consultation from industry experts and mentors to help accelerate your business, plus RM 100,000 in digital infrastructure\u201d she added, going on to say that teams tended to appreciate the market access, startup playbook, and mentoring space more than they did any other aspect of the programme. The accelerator programme will close with a virtual Demo Day where the best teams will present their concepts to an audience of highly accredited investors, venture capitalists, and others. Past notable judges include Suresh Thiru, former CEO of SEEK Asia and prominent angel investor; Dato Syed Haizam, Managing Director of The Hive Southeast Asia; and Tony Yeoh, CEO of Digital Penang. Promising startups will receive up to RM50,000 as pre-seed funding and up to RM100,000 in digital credits on infrastructure on Amazon Web Services (AWS) cloud credits, Airtable, Digital Skills Training, and Job Portal credits, and more. Supported by Malaysia Digital Economy Corporation (MDEC) and Digital Penang, the application for ASDA is currently open until August 4th, 2022. Malaysia\u2019s VentureTECH and Japan\u2019s SBI Ventures launch $18M private equity fund to boost Malaysian growth-stage technology firms"}, {"url": "https://technode.global/2022/07/26/airasia-super-app-achieves-record-high-growth-in-average-monthly-active-users/", "page": 51, "title": "Airasia Super App achieves record high growth in average monthly active users", "contents": "Capital A BerhadCapital A said in a statement on Monday the growth is primarily underpinned by the strong return of travel and increased user acquisition on the mobile app. Additionally, the number of transactions increased 70 percent for quarter on quarter comparison and climbed five times as compared to the second quarter last year. These were driven primarily by increasing transactions from flights, airasia ride, FlyBeyond, and SUPER+. Meanwhile, BigPay reached 1.2 million carded users in the second quarter, a 62 percent increase from the same period last year. This was mainly driven by strong market adoption over the past  year and throughout this year in line with the travel recovery and the expansion of product offerings, such as DuitNow payments and transfers, additional remittance corridors, and one of the first digital lending products in Malaysia. For Capital A\u2019s logistics business, Teleport transported slightly lower cargo tonnage by 27 percent year on year due to the extended lockdowns imposed in China that began in March. Delivery, on the other hand, improved significantly, up 630 percent year on year. Teleport achieved a record-breaking total of 1.15 million deliveries in the second quarter. This was in part due to Teleport\u2019s onboarding of a large new ecommerce platform in the second quarter which accounted for 10 percent of delivery volume. The new platform is expected to boost growth in the industry significantly with Teleport\u2019s robust expansion plans across the region this year. Capital A consolidated airlines continues to post significant performance improvement, with a notable load factor of 84 percent, akin to its pre-pandemic levels, signalling that air travel revival is well underway. The consolidated airlines carried over 5.6 million passengers, a 633 percent increase year-on-year and 48 percent increase quarter-on-quarter. The consolidated airlines flew more than 35,000 flights in the quarter, up 483 percent year on year compared to the same period last year, supported by the growing domestic demand and the resumption of international travel in ASEAN countries. Correspondingly, available seat kilometres (ASK) rose by 456 percent year on year and revenue passenger kilometres (RPK) increased by 582 percent year on year. In the second quarter, total operating aircraft for AirAsia Malaysia, AirAsia Indonesia and AirAsia Philippines were 45, 12 and 8 respectively. AirAsia Malaysia posted a stronger load factor of 84 percent in the second quarter, up by 20 percentage points (ppts) year on year and 10 ppts quarter on quarter. Passengers carried and capacity increased significantly by 1276 percent year on year and 955 percent year on year to 3.8 million and 4.6 million respectively, with more operating aircraft added to support the huge surge in demand for both domestic and international flights. Load factor for international flights achieved 81 percent with 31 additional destinations reinstated and the highest number of international passengers carried post pandemic, attributed mainly from Malaysia-Singapore routes, followed by Malaysia-Indonesia and Malaysia-India routes. AirAsia Indonesia, meanwhile, recorded an encouraging load factor of 77 percent in the second quarter, an increase of 10 ppts year on year. Domestic flights achieved a healthy load factor at 73 percent while the load factor for international flights was stronger at 86 percent. Passengers carried and capacity improved by 132 percent year on year and 102 percent year on year respectively, on the back of the resumption of international flights, with 29 percent of the total number of seats sold from international flights. The number of flights flown has also increased by 102 percent year on year. AirAsia Philippines, on the other hand, posted the highest load factor among the group\u2019s airlines at 93 percent, which grew by 15 ppts year on year. In the second quarter, the number of passengers carried increased by 480 percent year on year and capacity expanded 388 percent year on year. Flight frequencies were added on popular routes to meet strong demand which increased ASKs by 309 percent and the number of flights flown jumped 388 percent year on year. In June, AirAsia Philippines resumed international routes to Kota Kinabalu, Seoul, Hong Kong and Guangzhou. In the second quarter, AirAsia Thailand carried over 1.7 million passengers, up 133 percent year on year with a load factor of 75 percent, rising 14 ppts compared to the prior corresponding period. The airline added flight frequencies and routes to meet rising demand, resulting in an 87 percent increase in flights flown, to a total of 12,326 flights with 25 operating aircraft during the quarter. More international flights were reinstated during the quarter, operating 19 routes to 8 countries by the end of the second quarter. As a result, the ASK and seating capacity significantly rose by 116 percent and 90 percent respectively as compared to the same period last year. Additionally, the average sector length grew by 16 percent, mainly driven by flights from the South Asian market.  Malaysia\u2019s Capital A mulls US listing"}, {"url": "https://technode.global/2022/07/25/malaysias-exabytes-partners-with-chinas-huawei-cloud-to-provide-cloud-first-smart-solutions/", "page": 51, "title": "Malaysia\u2019s Exabytes partners with China\u2019s Huawei Cloud to provide cloud-first smart solutions", "contents": "Malaysia-based all-in-one business cloud, digital, and e-commerce solutions provider Exabytes said in a statement the strategic partnership aims to be the enabler for innovation driving the cloud-first digital transformation journey for businesses in Malaysia and beyond. As part of its goal to accelerate the growth of cloud-based digital transformation solutions for enterprise customers, the partnership will also enable access to other business applications such as smart building, smart city, smart traffic, smart agriculture, smart healthcare, smart logistic and other smart solutions that are driven by machine learning (ML), artificial intelligence (AI) and the Internet of Things (IoT). \u201cCloud infrastructure alone will not drive business growth. It has to be supported with business applications in order to achieve the desired business outcomes,\u201d said Chan Kee Siak, Group Chief Executive Officer of Exabytes. \u201cWith Exabytes being an all-in-one business cloud, digital, and e-commerce solutions provider, the support from Huawei\u2019s Cloud platform and our partner ecosystem will be the enabler of innovation when matched with our cloud-first smart solutions,\u201d he added. Meanwhile, Exabytes Executive Vice President and Head of Enterprise Business Eric Foo believed that This partnership with Huawei Malaysia to use its Cloud platform and its solutions partner ecosystem will be the catalyst in driving the cloud-first digital transformation journey for businesses in Malaysia and beyond. \u201cWe want to leverage on the capabilities of digital technology to gain a better competitive advantage as well as other business values for our joint customers,\u201d he added. According to the statement, small and medium-sized enterprises (SMEs) and large enterprises need to prioritise on ways to increase their online presence in order to stay competitive. With the cloud-first strategy, businesses can leverage the benefits of utilising cloud platforms such as having agility, scalability, security and speed to market. With that taken care of, companies can now focus on business applications, data analytics and automation in order to achieve the targeted outcomes and business imperatives such as improved user experience, increased productivity, cost optimization, enhanced process efficiency and innovation. As more businesses are beginning to emphasise the adoption of digital solutions in many of their processes, research analysts believe that since the pandemic drastically changed how we live and work, more than 80 percent of information technology (IT) operations will be hosted off-premise. In light of this, Exabytes and Huawei will work closely with customers and partners to create many more open, collaborative, win-win-win conditions that will strengthen the industry ecosystem and accelerate Digital transformation. \u201cLooking at the growing market of cloud in Malaysia, we have come to a point where it is essential for Huawei Cloud and Exabytes to work together, leveraging each of our strengths in order to provide solutions that complement each other and explore opportunities for joint innovation to address the digital transformation needs of businesses,\u201cMoving forward, partnerships are crucial and are key to build a robust ecosystem in Malaysia for all businesses to scale. We hope our partnership will see joint success for both organisations,\u201d said Lim Chee Siong, Vice President of Cloud and AI Business Group, Huawei Malaysia. As the all-in-one business cloud, digital, and e-commerce solutions provider, Exabytes plans to expand its partner ecosystem by bringing more regional and global cloud solution partners into Malaysia. Acquiring over 160,000 customers globally with 21 years of experience in the cloud hosting industry, Exabytes is also planning to leverage its presence in Indonesia to promote Huawei Cloud services and partner ecosystem solutions and services in this high potential and fast-growing market. Founded in 2001, Exabytes specialises in providing services of cloud hosting, shared hosting, email hosting, Virtual Private Server, dedicated servers, domain name registration, digital marketing and others. The company currently serves over 160,000 small and medium-sized businesses in 121 countries. The company is part of Exabytes Capital Group Sdn. Bhd, and is headquartered in Penang, Malaysia. Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. It has more than 197,000 employees, and it operates in more than 170 countries and regions, serving more than three billion people around the world. Its vision and mission is to bring digital to every person, home and organisation for a fully connected, intelligent world. China\u2019s Xinghuo BIF and Malaysia\u2019s Zetrix jointly introduce Web3 Services"}, {"url": "https://technode.global/2022/07/25/malaysias-tng-ewallet-raises-168m-funding-led-by-lazada/", "page": 51, "title": "Malaysia\u2019s TNG eWallet raises $168M funding led by Lazada", "contents": "Touch \u2018n Go GroupThis funding round was led by a new investment in TNG Digital by Lazada Group and a follow-on investment by TNG Digital\u2019s current shareholder and parent company Touch \u2018n Go Sdn. Bhd, Touch \u2018n Go Group said in a statement. This round of funding brings the total amount raised by TNG Digital over the last 18 months to over MYR1 billion ($220 million). In addition to Touch \u2018n Go and Lazada, other shareholders of TNG Digital include Ant Group, insurers AIA Group and US-based venture fund BowWave Capital. According to  Touch \u2018n Go, this new investment solidifies the collaboration between key segment leaders, one in e-commerce and one in digital financial services and payments. \u201cI\u2019m extremely pleased to welcome Lazada to the Touch \u2018n Go eWallet family. We feel this collaboration will bring next-level value propositions to users and merchant bases across the Lazada and Touch \u2018n Go ecosystem. I look forward to seeing the teams roll out these exciting collaboration opportunities to our users,\u201d said Effendy Shahul Hamid, Group Chief Executive Officer, Touch \u2018n Go Group. \u201cThe funding round also sets us up nicely for our next phase of growth. We will continue to expand in all areas of digital financial services and ensure that our user base is served in an innovative and inclusive manner,\u201d he added. In the meantime, Alan Chan, Chief Executive Officer of Lazada Malaysia said he sees digital payment services as a critical bolt-on to bring the best customer experience on Lazada. \u201cLazada is fully committed to providing a seamless customer journey, as well as being a catalyst to stimulate capacity building among our sellers, primarily local small and medium-sized enterprises (SMEs) and micro, small and medium-sized enterprises (MSMEs). Our long-standing partnership with Touch \u2018n Go eWallet has served our customers well, allowing buyers to check out easily and quickly. Today\u2019s announcement fortifies that partnership and we are excited by the prospects it presents for both our companies,\u201d he said. Touch \u2018n Go Group is Malaysia\u2019s financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd, a wholly owned subsidiary of CIMB Group and TNG Digital, a joint venture between TNG and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. Established in 2017, TNG Digital is the owner and operator of TNG eWallet which has over 16 million registered users in Malaysia. Combining TNG\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, the TNG eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Ant-backed e-wallet Touch \u2018n Go launches digital personal loan facility"}, {"url": "https://technode.global/2022/07/21/samsung-sdi-invests-1-3b-in-cylindrical-battery-lines-in-malaysia/", "page": 52, "title": "Samsung SDI invests $1.3B in cylindrical battery lines in Malaysia", "contents": "Samsung SDISamsung SDI said in a statement that it held a ceremony to mark groundbreaking of a second battery production facility equipped with state-of-art and innovative\u200b lines in Seremban, Malaysia on July 21. With a total of 1.7 trillion won investment phase-by-phase until completion in 2025, Plant 2 at Samsung SDI Energy Malaysia (SDIEM) will start mass-production of PRiMX 21700 cylindrical batteries (21mm X 70 mm) in 2024. Samsung SDI\u2019s decision to construct the second factory in Malaysia comes as a strategy to meet the rising demand for cylindrical batteries recently. The batteries from the Plant 2 will be used in various applications ranging from electrical tools, micro-mobility to electric vehicles. Established in 1991, SDIEM is the first overseas business entity of Samsung SDI. The company started off with producing braun tubes in its early years before shifting to batteries in 2012. \u201cToday\u2019s groundbreaking ceremony will serve as a starting point for realizing our vision to become a Global Top Tier Company by 2030. With successful completion and early stabilization of Plant 2, we will make SDIEM the center of the global battery industry. With the support from the Malaysian state government and partner companies for best quality, we will be able to realize the vision much faster,\u201d said Samsung SDI president and Chief Executive Officer YooNho Choi. During the congratulatory remarks, Negeri Sembilan Menteri Besar Aminuddin Harun said investments from high-impact industries, such as Samsung SDIEM are integral to our vision of driving robust economic growth in Malaysia and Negeri Sembilan, which is outlined in our Malaysia Vision Valley 2.0 plan. \u201cNot only is this testament to our economic potential in Negeri Sembilan, but also the investment-friendly policies implemented by the State. Samsung SDIEM\u2019s investment to be the pioneer in Electric Vehicle (EV) Battery Cell manufacturing in Seremban will continue to create jobs for the youth and spur more opportunities for local businesses,\u201d he said. According to the statement, the global cylindrical battery market is forecast to grow from 10.17 billion cells in 2022 to 15.11 billion cells in 2027, showing an annual growth rate of 8 percent on average, as demand expands from electrical tools, micro-mobility to electric vehicles and energy storage systems. India\u2019s Ola to invest $500M in battery innovation and indigenous cell R&D"}, {"url": "https://technode.global/2022/07/20/carsome-expands-malaysia-based-regional-headquarters/", "page": 52, "title": "Carsome expands Malaysia-based regional headquarters", "contents": "Southeast Asia\u2019s largest integrated car e-commerce platform The expanded headquarters occupies a total of 41,860 square feet of space, spread across four stories at KYM Tower in Mutiara Damansara to house over 560 employees, Carsome said in a statement. Carsome Co-Founder and Carsome Academy Chief Executive Officer Teoh Jiun Ee shared that the expansion underlined Carsome\u2019s vision to mobilize Malaysia as a central talent hub for the region. To do that, it has amplified efforts to recognize local talents that will contribute towards building a stronger team and nurture skillsets to better serve the industry and help solve customers\u2019 pain points. \u201cThe expansion exemplifies another one of our corporate milestones since the establishment of Carsome in 2015. We believe that the larger and better workspace for our Carsomers will elevate their working experience, at the same time meet the needs of our team for a larger and more inspirational workspace. Through our growing workforce, we endeavor to channel more efforts into talent development in Malaysia to bolster our regional presence through strategic hires, upskills, and development of local talents,\u201d Teoh said. The opening of Carsome\u2019s newly expanded headquarters was officiated by Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer, Mahadhir Aziz. \u201cCarsome is indeed Malaysia\u2019s very own pride and joy \u2013 an innovative and inventive company that is not only an indicator of Malaysia\u2019s robust and thriving digital ecosystem, but also evidence of the country\u2019s strength as the digital hub of the region. As Malaysia aspires to be a high-income nation, at least 45 percent of the workforce needs to be highly skilled, \u201cCarsome\u2019s expansion marks the growth of their local and regional talent pool as well as their commitment towards developing future talents. Their dedication towards inculcating digital talents is aligned to the goals of Malaysia Digital, which seeks to accelerate the adoption of digital among Malaysians. We look forward to working with Carsome in nurturing Malaysia\u2019s digital talents and in supporting their future growth and expansions across the region,\u201d said Mahadhir Aziz, Chief Executive Officer of MDEC. Carsome is one of the few local tech startups with a regional headquarter presence in Malaysia, and one that continues to establish Malaysia as a central talent hub in the region. Onward from the expansion, it will double up its local investment and is committed to develop, attract and retain talents with different areas of specialization.  In its efforts to upskill the workforce, it has provided over 29 training sessions and courses amounting to 4,400 minutes to 258 employees in customer service, operations, business development, and sales teams within Carsome Group. Adding on to that, Carsome has also established the Carsome Academy in Malaysia, Thailand and Indonesia and introduced Carsome Certified Lab in Malaysia to further develop and nurture a skilled Technical and Vocational Education and Training (TVET) workforce. Down the pipeline, Carsome plans to set up more Carsome Certified Labs in the region, to provide more hands-on practical experience and job opportunities for TVET talents. These initiatives are a culmination of Carsome\u2019s market expansion efforts, where it recognizes the need to train and build teams with various market expertise which is essential to continue innovating the used car ecosystem within the region. Malaysia\u2019s Carsome appoints football legend & icon Eric Cantona as brand ambassador"}, {"url": "https://technode.global/2022/07/20/malaysian-pm-proposes-national-utility-firm-tenaga-national-car-maker-perodua-to-team-up-on-ev-charging-report/", "page": 52, "title": "Malaysian PM proposes Tenaga, Perodua to team up on EV charging \u2013 report", "contents": "Malaysian Prime Minister Ismail Sabri Yaakob on Wednesday proposed to the national utility company Tenaga Nasional Bhd (TNB) and Perusahaan Perusahaan Otomobil Kedua Sendirian Bhd (Perodua) to forge cooperation in introducing affordable electric vehicle (EV) charging rates for the people. The prime minister said TNB is currently working to increase its energy production by using renewable energy sources and providing adequate EV charging stations, national news agency \u201cAt the same time, Perodua can use this opportunity by exploring new fields such as producing high-quality EVs that Malaysian families can afford,\u201d he was quoted as saying. \u201cIn fact, telecommunication companies like Telekom Malaysia (TM) can also work with these two parties to provide data package that will enable users to book EV charging sessions online,\u201d he said when launching the all-new Perodua Alza at the Kuala Lumpur Convention Centre. Established in 1993 through a partnership with Japanese automobile manufacturer Daihatsu, Perodua is Malaysia\u2019s second national car manufacturer. Focusing on compact cars, it has secured the largest share of the Malaysian automobile market for 16 years in a row from 2006 to 2021. Perodua is Malaysia\u2019s first and biggest Energy-Efficient Vehicle (EEV) manufacturer, having produced and sold over a million EEVs to date, according to Perodua\u2019s website. Ismail Sabri said such smart cooperation should be forged as soon as possible to overcome the effects of climate change that had hit the world, and also to ensure sustainable development of the country. He said the cooperation would also help achieve Malaysia\u2019s target of being a carbon-neutral nation by as early as 2050. Ismail Sabri said the government is willing to discuss with the private sector to ensure that all policies or initiatives introduced were in line with the country\u2019s direction. He said he had recently asked Universiti Pendidikan Sultan Idris located in the High-Tech Valley to develop a training and research center, to be known as the Centre of Advanced Automotive Research and Training (CAART). The prime minister\u2019s proposal also came after Chinese EV maker Great Wall Motor announced it has officially entered the Malaysian market Great Wall Motor in 2020 took over the General Motors plant in neighbouring Thailand, Asia\u2019s fourth-largest auto assembly and export hub. The EV market has begun to take off in Southeast Asia as automakers plan to start production in at least three countries this year, Shell invests in Malaysia\u2019s smart mobility solution provider ParkEasy"}, {"url": "https://technode.global/2022/07/18/malaysias-bank-islam-launches-digital-banking-app/", "page": 52, "title": "Malaysia\u2019s Bank Islam launches digital banking app", "contents": "Malaysia-listed banking firm Made available to the public since mid-June this year, Bank Islam said in a statement that it targets between 350,000 and 400,000 downloads and users of the Be U app within the first 12 months of its operations. According to the statement, the all-new banking app allows users to do their banking transactions seamlessly, without the hassle of visiting a branch, thus broadening financial inclusivity by targeting the digital-native, younger generation. Its engaging and user-friendly interface is intended to help users quickly understand and manage their finances. Bank Islam Group Chief Executive Officer Mohd Muazzam Mohamed said Be U is a gamechanger for the firm and the Islamic banking industry as it is a product that intends to redesign and catalyse Bank Islam\u2019s future growth by leveraging the rapidly changing fintech landscape and further allowing customers access to an affordable and easy-to-use financial solution. \u201cThrough Be U, Bank Islam is shifting from being product-centric to customer-centric in building products that fulfill customer needs. This effort aligns with our five-year business strategic plan (LEAP25), which aims to become the champion in Shariah-environmental, social, and governance (ESG) total financial solution with leadership in digital banking and social finance,\u201d he added. He also said that having taken a holistic approach to meet customers\u2019 needs, the bank has designed the digital bank proposition to be different and complementary to what is presently available in the market. According to him, Be U is targeted at the younger generation, offering a savings account that allows zero balance, fund transfer capabilities, and a \u201cnest\u201d feature that helps users save for specific goals. He also noted there will be frequent new functionalities or offerings on the Bank Islam Be U app over the next 12 months, including term deposit, gig marketplace, debit card, personal financial management, micro-financing, micro takaful and much more. \u201cWe will replicate the learnings from Be U into the entire organisation, which is the bigger picture we\u2019re looking at. We want to turn Bank Islam into an increasingly agile organisation by adopting new ways of working, attracting talents with new skillsets, using the latest technology, and leveraging data and automation. This will, in turn, enable Bank Islam to serve our customers better,\u201d he said. Be U uses Mambu Digital Core as its technology backbone and is housed in Amazon Web Service (AWS) cloud. Having zero legacies allows the app to meet customers\u2019 needs quickly. By leveraging its cloud-based advantage, Be U users can benefit from the agility of the app and enjoy a curated, user-friendly and personalised banking experience. \u201cBe U focuses on customer segments that Bank Islam does not, capturing users still in the early stage of their working life. Once their financial footing isBank Islam is Malaysia\u2019s first public listed Islamic Bank on the main market of Bursa Malaysia Berhad. Established in July 1983 as Malaysia\u2019s first Islamic Bank, the bank has 141 branches and more than 900 self- service terminals nationwide. As a full-fledged and pure-play Islamic bank, the bank provides banking and financial solutions that strictly adhere to the Shariah rules and principles and are committed to the ideals of sustainable prosperity and ESG values. The core subsidiaries of the Bank Islam Group are pioneers in various Islamic financial services, including investment and stockbroking, namely BIMB Investment Management Berhad and BIMB Securities Sendirian Berhad. Malaysia\u2019s Cradle Fund\u2019s outgoing CEO Rafiza Ghazali to lead KAF-led digital Islamic bank"}, {"url": "https://technode.global/2022/07/18/advance-intelligence-group-acquires-singapore-based-fintech-startup-jewel-paymentech/", "page": 52, "title": "Advance Intelligence Group acquires Singapore-based fintech startup Jewel Paymentech", "contents": "Advance Intelligence GroupJewel Paymentech (\u201cJewel\u201d) has an established track record of onboarding businesses and monitoring fraudulent transactions, specifically in Know Your Business (KYB) and Know Your Transaction (KYT) monitoring. It also provides automated solutions to large merchants such as marketplaces, to identify illegal and counterfeit goods as part of their KYC process. With a presence in Singapore and Malaysia, Jewel\u2019s technology is used by the region\u2019s largest banks, fintechs, and payment networks. The Singapore-based company, named by SWIFT as one of Asia\u2019s most promising fintech companies, was founded eight years ago. The acquisition of Jewel Paymentech for an undisclosed sum will strengthen Advance Intelligence Group\u2019s capabilities in the Web3.0, fraud, and risk management space. Jewel\u2019s 30-member team based in Singapore and Malaysia, including its senior leadership team, will join the Group. Jewel will remain as an independent business entity under the Group\u2019s enterprise business unit, ADVANCE. AI, with CEO Sean Lam, Co-Founders Lee Wooi Siang and Sandra Cheim, and CIO Goh Ser Yoong joining its senior leadership team. Founded in 2016, Advance Intelligence Group is one of the largest independent technology startups headquartered in Singapore. The Group has built an ecosystem of AI-powered, credit-enabled products, and services, including Asia\u2019s leading Buy Now Pay Later (BNPL) platform Atome, SaaS enterprise solutions provider ADVANCE. AI, and omnichannel e-commerce merchant services platform Ginee. Umair Javed, Senior Vice President, M&A and Corporate Development at Advance Intelligence Group, said, \u201cWe\u2019ve spent a lot of time with Jewel\u2019s founding team and we\u2019re very excited to add their capabilities, talents and leadership team to our Group. Their established track record in merchant due diligence, transaction, and fraud monitoring complements our own capabilities and offers our existing clients and partners in our ecosystem an even fuller suite of products and services. \u201dSean Lam, CEO of Jewel Paymentech, said, \u201cBeing part of the broader Advance Intelligence Group ecosystem will not only serve our current clients better but will allow us to tap on deep investor relationships, capital, and technology base. Our staff will also be able to further develop their career journey, so this coming together of our two companies is a win-win for both our existing team and client base. \u201dDong Shou, CEO of ADVANCE. AI, said, \u201cWe warmly welcome the addition of Jewel\u2019s leadership team and staff. Adding Jewel\u2019s KYB and KYT expertise to our existing set of digital identity, fraud detection, and risk management solutions means we are now even better equipped to support our clients in their digital transformation journey as they navigate an ever-evolving regulatory, compliance, and security landscape, both in Web2 and Web3. \u201dBoth ADVANCE. AI and Jewel are also accredited by the Infocomm Media Development Authority of Singapore (IMDA). Edwin Low, Director of Enterprise and Ecosystem Development at IMDA, added, \u201cThis acquisition brings the merger of two innovative, high growth IMDA-accredited companies in the fintech and eKYx space. Collectively, there are complementary product synergies that can be offered to their enlarged global client base. This also bodes well for Singapore\u2019s ecosystem as we see a much stronger and globally competitive entity resulting from this merger. \u201dFraud Costs Increased More Than 10% over Pre-Pandemic Levels for APAC Businesses, According to LexisNexis Risk Solutions Study"}, {"url": "https://technode.global/2022/07/15/shopback-launches-shopback-paylater-alongside-global-brand-refresh/", "page": 52, "title": "ShopBack launches ShopBack PayLater alongside global brand refresh", "contents": "ShopBackThe launch also kicks off the ShopBack Group\u2019s first global brand refresh across its 10 markets in Asia Pacific. Underscored with its new tagline \u2013 For the Wins \u2013 the brand refresh looks to translate the small wins on ShopBack\u2019s platform into an elevated shopping experience. ShopBack PayLater live in Singapore and MalaysiaShopBack PayLater will be available at over 4,000 online and in-store merchants in Singapore and Malaysia, including Charles & Keith, Crate & Barrel, Love Bonito, Shiseido, ZALORA, and more. It integrates hoolah\u2019s platform capabilities with ShopBack\u2019s Pay feature, enabling shoppers to split their in-store or online purchases into three interest-free monthly installments when they check out via ShopBack. Cashback earned from shopping online and in-store Cashback earned via ShopBack Pay can also be used to offset PayLater payments. \u201cFinancial flexibility is the key to achieving our goal of making shopping rewarding, personalised, and accessible to all. Our PayLater feature removes the need for initial large lump sum payments and allows users to divert resources saved from installment payments to merchant purchases or even their own savings. This makes ShopBack an optimal space for enabling rewarding shopping experiences while encouraging financial mindfulness,\u201d said Hamish Moline, Managing Director, Financial Services. ShopBack: For the WinsTo illustrate the full suite of benefits that ShopBack provides, the Group\u2019s global rebrand will focus on empowering its shoppers to achieve small wins in their daily shopping and payment activities. Its new tagline \u201cFor the Wins\u201d, a play on the popular Internet catchphrase, looks to celebrate the victories in one\u2019s daily life, however small they may be. \u201cShopBack believes in the power of small wins, applied consistently and continuously, and we work relentlessly to deliver smarter ways to shop and pay. We hope that the rebrand brings out this message more strongly to our shoppers,\u201d said Henry Chan, CEO and Co-Founder. \u201cAs we grow our network of partners and global brands, we will continue to engage shoppers across multiple touchpoints, help partners gain visibility and sales, and support them in achieving their own victories through small wins. \u201dIn collaboration with CapitaLand Malls, the rebranding campaign will include a series of roving popups across Singapore, where participants stand a chance to win S$100,000 worth of Tesla shares and other prizes. The global rebrand and launch of ShopBack PayLater are the latest in a series of milestones achieved by ShopBack. The company drove $3.5 billion in sales to 10,000 merchants in 2021, launched its ShopBack Pay service earlier this year, and raised $80 million during a recent funding round in June. The Group also plans to deepen its product offerings and expand its financial services to more markets in the coming months. Singapore\u2019s ShopBack raises $80M Series F investment led by  Asia Partners"}, {"url": "https://technode.global/2022/07/15/indonesias-doku-acquires-malaysias-senangpay-for-7-5-million/", "page": 52, "title": "Indonesia\u2019s DOKU acquires Malaysia\u2019s senangPay for $7.5 million", "contents": "DOKUThe acquisition followed DOKU received funding from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP last year. \u201cThe recent acquisition of senangPay marks the beginning of DOKU\u2019s expansion overseas and its efforts to reach a wider business segment, especially small and medium-sized enterprises (SMEs). As a leading payments provider in Indonesia with the widest suite of online and offline payments products serving over 150,000 merchants, we look forward to offeringour innovative products to similar businesses in Malaysia,\u201cWe believe the opportunity to enter Malaysia is all the more attractive given the similar socio-cultural backgrounds of our two countries,\u201d  DOKU\u2019s Chief Operating Officer Nabilah Alsagoff said in a statement. SenangPay is an online payment gateway that was established in 2015. It is managed by Simplepay Gateway Sdn Bhd and registered with Bank Negara Malaysia as a merchant acquiring services provider. It is also registered with Mastercard International as a payment facilitator (PF) for the Asia Pacific region. As an online payment gateway, senangPay helps Malaysian businesses easily accept customer payments through a range of methods which includes credit card, debit card, internet banking (FPX) and all majors e-wallet providers in Malaysia. Today, senangPay is amongst the Top 5 payment gateways in Malaysia and the company has served over 15,000 merchants, with a team of more than 45 people. Through DOKU\u2019s acquisition, senangPay is planning to strengthen and expand services beyond online payment gateway, adopting new services such as e-wallet, remittance, and offline transaction such as Tap On Glass, mobile to mobile (M2M) etc. With these new offerings, senangPay will enable the transition of its merchants from brick-and-mortar models into the digital era, in line with the Malaysian government\u2019s \u201cMalaysia Digital\u201d initiative. \u201cWhen we set up senangPay, we wanted to create an alternative payment gateway for the small medium business especially for business owners that lack technical skills and not familiar with digital tools. Operating online business is not so affordable so we started something that is more cost effective. Our gateway is secured and we provide reliable service and superior support. We are beginning to see more merchants using us, \u201cSo, I believe this acquisition is beneficial and necessary for the company\u2019s growth as well for everyone internally and our merchants. By closing the gap between the two countries, and combining expertise from two companies, I expect to see significant improvements in areas we may have never expected, as well as in areas we wish to improve,\u201d said senangPay Chief Executive Officer Mansor Abd Rahman. As a testament to senangPay\u2019s market innovation, the company recently launched senangzakat, a convenient platform to pay a variety of zakat (donations) in Malaysia. This new offering has already gained strong traction and positive responses from users which have highlighted its user-friendly experience. DOKU is a payment platform and the first Indonesian-owned electronic payment solutions provider to offer local payment solutions tailored to address merchants\u2019 online payment needs. It provides the suite of online and offline payment solutions, and local payment methods, serving over 150,000 merchants across many industries, including TikTok, Google, Garuda, Prudential, and Traveloka. The firm is the only payments player with five licenses from Bank of Indonesia which enables us to offer a variety of solutions, such as payment gateway, domestic fund transfers, cross border remittance, biller payments, e-money, e-wallet and QR code payments. Indonesia FinTech firm Xendit reaches unicorn status with $150M Series C led by Tiger Global Management"}, {"url": "https://technode.global/2022/07/14/malaysias-carsome-appoints-football-legend-and-icon-eric-cantona-as-brand-ambassador/", "page": 52, "title": "Malaysia\u2019s Carsome appoints football legend & icon Eric Cantona as brand ambassador", "contents": "Malaysia-based integrated car e-commerce platform As one of the greatest footballers of his generation, Cantona and Carsome both share a common drive in their relentless spirit to go above and beyond for their fans and consumers, Carsome said in a statement. In his capacity as ambassador to the brand, Cantona will take an active involvement in Carsome\u2019s upcoming promotional activities this year as well as group-wide advertising campaigns in Malaysia, Indonesia and Thailand where Carsome is the market leader. Carsome Co-Founder and Group Chief Executive Officer Eric Cheng said that Cantona\u2019s relentless spirit to go above and beyond for football fans embodies the company\u2019s drive to further elevate the car ownership experience and have Carsome as the trusted platform for buying or selling a car. \u201cWe are excited to have Eric Cantona onboard as Carsome\u2019s brand ambassador. I believe Eric\u2019s personification of victory and fearlessness displayed throughout his life and career will bring us to even greater heights in the used car market as we continue to deliver trust, transparency and choice to our customers,\u201d Cheng said. Dubbed by fans as \u2018King Eric\u2019, Cantona\u2019s commanding, unpredictable, yet charismatic presence on and off pitch saw him leaving a legacy in the history of football and remains an influential figure till today. He was the key piece of the puzzle in solving Manchester United\u2019s goal-scoring troubles in his debut season. His instrumental role in breaking the club\u2019s championship dry spell after 26 years of trophyless seasons is very much likened to Carsome as a brand that set out seven years ago to redefine the used car industry, at a time when customers deeply lacked trust in the used car market. Fast forward to 2022, Carsome has set an industry standard for customers to purchase quality assured pre-owned cars through Carsome certified. With this, customers can experience a hassle-free car buying experience and go home confidently with quality refurbished cars which have gone through a stringent 175-point inspection and vigorous refurbishment process. The first in the market to offer a one-year extended warranty and five-day money-back guarantee, with up to 30 brands of cars to choose from, Carsome shares Cantona\u2019s boldness to break the barrier of normalcy to stay on top of the game and be a leader. Cantona\u2019s one-of-a-kind determination also personifies Carsome\u2019s unyielding journey in transforming the car transaction and ownership experience in Southeast Asia by delivering the brand promise of bringing trust, transparency, and choice, to consumers and dealers through our technology platform and deep expertise. \u201cI am pleased to see the progressive and innovative work done by a market-leading Southeast Asian brand like Carsome. I am confident that our partnership will introduce more car buyers to high industry standards set by Carsome certified, and subsequently welcome them to a world where the car ownership journey is a trusted and pleasant one,\u201d Cantona said. Malaysia\u2019s unicorn Carsome to delay dual-listing plans \u2013 report"}, {"url": "https://technode.global/2022/07/12/vleppo-tokel-conduct-digital-procedure-to-make-nft-rights-legally-enforceable-in-the-real-world/", "page": 52, "title": "Vleppo, Tokel conduct digital procedure to make NFT rights legally enforceable in the real world", "contents": "Web3 firms Vleppo said in a statement that the firm in June developed a blockchain contract management system (CMS) that enables NFT owners to create a digital contract by embedding their NFT\u2019s on-chain ID directly into the Blockchain record of the same digital contract. This seemingly simple digital procedure however has massive ground-breaking significance for the digital world. Through this process, the NFT can now act as an immutable evidentiary anchor for the digital contract, forever linking the two together. This link is readily observable because Vleppo\u2019s blockchain system, called Alysides, which is a customized fork of the Komodo Protocol, is both public and permissionless. This Vleppo solution has for the first time finally addressed the longstanding concern of the blockchain industry and NFT owners about the lack of clarity on the legal enforceability of smart contracts as related to NFTs. That Vleppo has developed a solution is most welcoming as well as providing a great sense of relief to holders of valuable NFTs. According to the statement, for a contract to be legally enforceable it needs to fully satisfy the elements of offer, acceptance, consideration, capacity of the parties to contract and an intention between parties to create and be bound to legal relations. The first three elements are satisfied by any smart contract. Legal issues arise, however, when attempting to demonstrate that both parties intended to create legal relations and/or have the capacity to contract. This is because current smart contracts in isolation are incapable of definitively confirming that these qualitative elements of a legally enforceable contract have been met. Therefore, it is common practice for smart contracts to be accompanied by a separate natural contract. By comparison, a digital contract or smart contract executed in the Vleppo CMS, where the ID of the NFT is embedded into the Blockchain record of the contract, ensures that the link between the NFT and underlying contract cannot be broken. The Vleppo solution is blockchain agnostic as this unique solution delivers legal enforceability enhancement to NFT owners, regardless of whether the NFT is on the ethereum, polygon, solana or any other blockchain. Furthermore, because of the Komodo Protocol\u2019s superior design and lack of reliance on \u2018gas-style\u2019 transaction fees, Vleppo\u2019s CMS can accommodate even the highly complex contractual arrangements in an affordable and efficient way in comparison to other popular protocols, such as ethereum.  Being blockchain enabled, Vleppo can provide further additional value-added services to users such as payments, escrow and Blockchain governed dispute resolution \u2013 essentially everything needed to execute and settle contracts. \u201cIt has been a long slog. But it is a big delight for the Vleppo team to be able to savour the sweet smell of success. At long last, the problem that has posed a challenge to the blockchain world and NFT owners, concerning the distinct lack of legal clarity and legal rights in smart contracts, is finally resolved, \u201cWe would welcome the opportunity to help all blockchain companies and NFT owners to enhance their existing digital and smart contracts as well as their NFTs to be recognized as legally binding contracts in courts of law,\u201d said Peter Coco, Vleppo\u2019s Chief Executive Officer. Founded in 2018 by Malaysian Albert Cheok , Vleppo is a Web3 blockchain solution provider whose applications have been focused on developing a blockchain integrated suite of business tools for freelancers, small and medium sized enterprises (SMEs), and enterprises. Tokel is a platform that uses unique nSPV technology to deliver a simple, fast and easy to use Blockchain NFT and token creation system, while Komodo is a community-oriented project, consisting of a customized version of the Bitcoin protocol (known as the Komodo Protocol) as well as a blockchain running on the Komodo Protocol. China\u2019s Xinghuo BIF and Malaysia\u2019s Zetrix jointly introduce Web3 Services"}, {"url": "https://technode.global/2022/07/11/ocbc-partners-jt-to-offer-last-mile-delivery-for-over-1500-couriers-in-malaysia/", "page": 52, "title": "OCBC partners J&T to offer \u201clast mile\u201d delivery for over 1500 couriers in Malaysia", "contents": "OCBC Bank (Malaysia) Berhad (OCBC Bank)The collaboration, which follows from previous successes since the two first got together in 2021, will see the digital collection solution being progressively used by all J&T Express couriers nationwide, along with an in-store presence as well, OCBC Bank said in a statement. The move harnesses OCBC Bank\u2019s OCBC OneCollect to overcome seemingly insurmountable \u201clast mile\u201d delivery challenges related to collection of payment by these couriers. OCBC OneCollect, rolled out just as the pandemic set in, is Malaysia\u2019s first merchant cross-border Quick Response Code (QR Code) collection service. OCBC Bank\u2019s collection solution enables J&T Express\u2019s couriers to eliminate cash collection \u2013 vulnerable to theft and being misplaced when on the go \u2013 through a QR Code embedded in their collections app. At the customer\u2019s doorstep, the courier simply generates a QR code using the app for the customer to scan and make the payment on the spot. The amount then flows seamlessly into J&T Express\u2019s account. When the funds are successfully credited, the courier receives a credit notification upon which the delivery is released to the customer. Similarly, for collections at outlets, customers are invited to do the same, saving J&T Express the hassle of needing to open over a thousand dedicated current accounts. According to OCBC Bank Managing Director and Head of Transaction Banking Chong Lee Ying, the tie up with J&T Express is a milestone in the bank\u2019s quest to remove all impediments to effective \u201clast mile\u201d delivery. \u201cLast mile delivery has long had to contend with safety and convenience issues as the couriers open themselves to unseen and unappreciated risks when it comes to collecting cash on behalf of the company. \u201cThis can go unnoticed because each collection is relatively small. But the amounts can snowball with each delivery, making the couriers targets for theft. In addition, cash easily gets lost or misplaced. We are pleased that OCBC OneCollect is able to step in where it matters most,\u201d she added. J&T Express (Malaysia) Sdn Bhd Chief Finance Officer David Zheng said the company is pleased to have OCBC Bank\u2019s solution being used to enhance the safety of its couriers who operate mainly on motorcycles to make its operations even more seamless. \u201cGoing cashless for a cash-on-delivery business is a happy misnomer. We have now made it possible to eliminate cash handling and sorting out of physical cash at all our points of collection including our outlets. This saves us daily trips to the bank as well,\u201d he said. OCBC OneCollect was earlier for enabled collection by businesses using PayNow QR (Singapore) and DuitNow QR (Malaysia) as a digital merchant solution, encompassing both mobile application and web portal options. OCBC Bank became the first bank to introduce PayNow QR into the Malaysian market in 2020 and extended the service earlier this year to logistics and \u201clast mile\u201d delivery companies to address collection and reconciliation issues. Tencent-backed J&T Express raises $2.5B ahead of Hong Kong listing \u2013 report"}, {"url": "https://technode.global/2022/07/08/scaleup-malaysia-seeks-to-invest-1-million-in-ten-startups/", "page": 53, "title": "ScaleUp Malaysia seeks to invest $1 million in ten startups", "contents": "Growth stage accelerator ScaleUp Malaysia said in a statement that it has increased its investment in its startups to $100,000 per company, making it one of the largest cheque sizes from an accelerator in Southeast Asia. Participants will also be receiving investments from the accelerator before commencing the program instead of at the end of the programme, it said. \u201cWe have been tremendously blessed to have worked with some of the best companies in the region over the last three cohorts. This increase in our investment size upfront shows our belief that Malaysia and Southeast Asia have some truly remarkable founders. We hope to support them on their journey,\u201d said Xelia Tong, Managing Partner of ScaleUp Malaysia. Applicants who apply for Cohort 2022 will also experience a quick turnaround time to know if they will make it through. ScaleUp Malaysia aims to inform participants of their interest acceptance and investment for Cohort 2022 within five weeks of applying to the program. \u201cWe recognise that this is a very precarious time for founders with so much uncertainty with the economic situation in the region and around the world. This is why we have streamlined our process to make sure that exceptional startups get funded quickly so they hit the ground running and scale effectively,\u201d said Andre Sequerah, Managing Partner of ScaleUp Malaysia. ScaleUp Malaysia has announced investments in 30 startups since 2020 including Iimmpact, Fefifo, AOne, Homa and Guruinnovatif. With one exit already under its belt and follow-on investments of up to 15 times after the program, its top companies have seen a 300 percent increase in revenue since participating in ScaleUp Malaysia. \u201cWe accept startups from all industries and verticals but what is really important is that they need to demonstrate product-market-fit, a sizable market and a compelling go-to-market plan,\u201d Sequerah added. ScaleUp Malaysia not only accepts startups from Malaysia but from all over the world. Startups from 26 countries applied for its last cohort. The accelerator also noted that it has strong representation of female founders compared to the industry in general and seeks to support more women entrepreneurs. \u201cWe\u2019re really excited that more than 40 percent of the startups we back have female founders. They are smart, driven and determined to make their mark. We are looking forward to helping more women make a difference,\u201d said Tong. Applications for Cohort 2022 are now officially open until 31st August 2022. ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia \u2013 helping them position their business for exponential growth. It is founded by a team of experienced entrepreneurs, professionals and seasoned investors. Championing the concept of building \u201cPegasus\u201d companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a programme that includes in-class training, one to one coaching and equity investment for selected companies. The accelerator has announced investments into 30 companies since 2020 which include fast growing startups such as AOne, Iimmpact, ATX, Fefifo, and Homa. ScaleUp Malaysia announces investments in 11 emerging startups"}, {"url": "https://technode.global/2022/07/08/grab-launches-intercity-travel-service-in-malaysia-and-singapore/", "page": 53, "title": "Grab launches intercity travel service in Malaysia and Singapore", "contents": "Southeast Asian super app The launch of the service also sees the inclusion of direct bus routes to Singapore, helping to minimise congestion on highways, ticket concessions, and even borders, especially during peak travel periods, Grab said in a statement. \u201cAs a homegrown brand, we want to help Malaysians plan their travels conveniently and affordably with the use of technology. It\u2019s only through collaboration with industry leaders across different sectors that we\u2019re able to simplify routine errands such as planning for a holiday, making it even more seamless and rewarding at the same time, \u201cGrab Intercity is no different. By growing our travel offerings, users can plan their holidays without the need for multiple apps or log-ins. We hope this enables a more convenient way for Malaysians to prepare for the upcoming Hari Raya Aidiladha too,\u201d said Rashid Shukor, Director of Country Operations and Mobility, Grab Malaysia. The addition of direct routes between Malaysia and Singapore represents the expansion of Grab Intercity to Grab users in Singapore. Users will be able to purchase bus tickets to over 30 destinations in Singapore from 11 different states and cities across Malaysia. Routes between Malaysia and Singapore on Grab Intercity will be available for booking and purchase beginning July 7, 2022. Grab collaborated with Splyt and Easybook to adapt the service onto the platform, enabling users to book a ticket, pay with GrabPay and earn GrabRewards. With over 15,000 available routes, the service expands Grab\u2019s travel offerings which currently includes a host of other services such as to browse and book attractions, experiences, hotels and even travel insurance, to cater to users\u2019 varied and unique travelling needs. Minister of Transport Malaysia Wee Ka Siong said that by incorporating direct routes to and from Singapore, such efforts support the nation\u2019s economic recovery by increasing channels for convenient travelling. \u201cAs travelling continues to be a key focus for many countries, facilitating the ease of cross border travels is even more vital than ever in helping the recovery efforts of our economy. Moreover, as borders continue to relax further all around the world, we foresee a further increase in travelling activity, both domestically and internationally,\u201cThis is why it is important for both private and public sectors to come together to play their part in contributing to economic growth in varied ways. With efforts such as this from Grab Malaysia, Malaysians and Singaporeans alike will not only have additional, convenient travelling options at their fingertips, but economies will be able to benefit too,\u201d he said. Grab is Southeast Asia\u2019s leading superapp based on gross merchandise value (GMV) in 2021 in each of food deliveries, mobility and the e-wallets segment of financial services. It operates across the deliveries, mobility and digital financial services sectors in 480 cities in eight countries in the Southeast Asia region \u2013 Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The firm enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single \u201ceveryday everything\u201d app. It was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and since then, the Grab app has been downloaded onto millions of mobile devices. Grab buys and relaunches food site HungryGoWhere"}, {"url": "https://technode.global/2022/07/01/chinas-xinghuo-bif-and-malaysias-zetrix-jointly-introduce-web3-services/", "page": 53, "title": "China\u2019s Xinghuo BIF and Malaysia\u2019s Zetrix jointly introduce Web3 Services", "contents": "China\u2019s Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) and Malaysia\u2019s Both parties said in a statement on Friday the BID, an official DID method listed in the DID Specification Registry of World Wide Web Consortium (W3C), is a new approach to realize decentralized identity based on Xinghuo BIF. The initial phase of the BID rollout will include the introduction of Chinese-related credentials, agreements and the corresponding legal frameworks that would serve as the foundation for the establishment of such agreements. Meanwhile, Zetrix will connect Chinese parties signing on the domestic Xinghuo BIF network with their international counterparts signing on the Zetrix network. Xinghuo BIF is a China initiated international blockchain infrastructure supported by all levels of the Chinese Government led by China Academy of Information and Communications Technology (CAICT) while MY E. G. Services Bhd (MYEG), via its Zetrix blockchain, runs the International Supernode of Xinghuo BIF to connect entities outside China to the Xinghuo BIF. Xinghuo BIF presently resolves 94 million identifiers daily, placing it as the most actively used platform and validates this use case in real world applications. According to the statement, the BID service is an extension of the existing Xinghuo BID and Xinghuo Blockchain-based ESigning services that was officially deployed in February 2022. On October 12, 2021, a memorandum of understanding between CAICT and MYEG announced the strategic cooperation framework between Xinghuo BIF and Zetrix as the international infrastructure to connect China\u2019s Xinghuo network to international markets. \u201cBID and Verifiable Credential form a critical foundation for the digitalisation of trade and services. Beyond the process and trade efficiencies that we envision, this will also counteract the threats of counterfeiting,\u201d said Dr. Jin Jian, president of Institute of Industrial Internet and Internet of Things Institute (IIIIoT), CAICT. Meanwhile, MYEG Group Managing Director TS Wong said BIDs and VCs are critical building blocks of more interconnected Web 3, as they are the foundational tools that decentralised apps can call upon to deliver a myriad of new services that would unleash the full potential of blockchain platforms. \u201cNo other blockchain platform currently provide these services at a scale that matches Xinghuo \u2013 Zetrix and we are excited to be the global industry leaders in this real world usecase,\u201d he said. Zetrix has engaged credential issuers and certification authorities to ensure the information registered are true to fact, and continues to engage with more stakeholders in strengthening the integrity of this vital facility. According to the statement, Zetrix DID solution, which conforms to the Xinghuo BID, will power an on-chain signing service to enable users to transact with certainty and verified identities. The resultant Zetrix blockchain-based E-signing service provides support for multiple signing templates and user-defined transactions, verification of an individual\u2019s or product\u2019s documents/credentials, and inquiry of documents or credentials. Organisations can use this service by keying in information and signing using their BID to issue certificates/credentials on the Zetrix blockchain. Users in China and elsewhere with access can search relevant information quickly through the BID identifier resolution service and vice versa. Meanwhile, the Xinghuo-Zetrix blockchain certificate service demonstrates that users can inquire the authenticity of any certificate or credentials. It ranges from government issued credentials like official residency, to provenance of goods, to the adherence of international standards by enterprises. Users can authenticate certificates online, instead of relying on traditional ways of issuing paper documents for proof. These credentials can then be independently verified using the issuer\u2019s public BID. In addition, digital credentials may incorporate smart features, i. e. programming logic. The combination of the BIDs and VC services will enable a host of varied use cases, from simple issuance of certificates to smart product authenticity documents with ownership history and programmable government issued credentials. As an ongoing concern, Zetrix will design more templates of signing occasions, extension environments, and API integration, providing safe and efficient identification services for all industries. Malaysia-listed MYEG\u2019s Zetrix blockchain to launch mainnet"}, {"url": "https://technode.global/2022/06/24/indonesias-gojek-says-no-current-plans-to-enter-malaysia/", "page": 53, "title": "Indonesia\u2019s Gojek says \u2018no current plans\u2019 to enter Malaysia", "contents": "Indonesia-based ride-hailing giant \u201cGojek is not currently available in Malaysia and we have no current plans to enter the market,\u201d a Gojek spokesperson told Gojek was responding to earlier The Vocket. com first reported the development. As at June 7, 2022, there are It was reported in November 2019 that Gojek, together with other bike-hailing companies like Dego Ride, will start a pilot run in Malaysia in January 2020. Gojek has already predicted that its entry into Malaysia in 2020 will not be an easy ride. In a report in November, the company\u2019s head of transport Raditya Wibowo said Malaysians were not used to the culture of being passengers ferried on motorcycles. Raditya said then that Gojek was making preparations to enter the Malaysian market after getting approval from the government to provide its on-demand service platform by January 2020. In July last year, Malaysian budget airlines AirAsia Group\u2019s digital arm, AirAsia Digital announced the Gojek, which merged with e-commerce firm Tokopedia to form GoTo Group last year, operates in 207 cities in Southeast Asia, across 22 services that include on-demand ride, food, payments, logistics, and lifestyle services. Gojek has formally announced its international expansion in Vietnam, Singapore, and Thailand, according to its website.  AirAsia to acquire Gojek\u2019s Thai operations for $50M via share swap deal"}, {"url": "https://technode.global/2022/06/23/malaysias-unicorn-carsome-to-delay-dual-listing-plans-report/", "page": 53, "title": "Malaysia\u2019s unicorn Carsome to delay dual-listing plans \u2013 report", "contents": "Malaysia-headquartered used car platform Carsome, which is also Malaysia\u2019s first tech unicorn, has halted work on the planned offerings that were set for this year, the people reportedly said. Carsome may revive the first-time share sales next year if markets improve, they added. Carsome has yet to respond to Quoting sources, Carsome is said to have confidentially filed for the IPO with NASDAQ. Carsome is also considering a dual listing at the Singapore Stock Exchange (SGX) too, a move that is said to have been encouraged by one of its key investors Temasek-backed 65 Equity Partners, according to the report. Carsome announced in March the acquisition of 51 percent stake in Singapore integrated automotive firm CarTimes Automobile Pte Ltd (CarTimes). In January, Carsome completed its $290 million Series E round, increasing the company\u2019s valuation to approximately $1.7 billion. The financing round was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw strong participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome has become Malaysia\u2019s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia in July last year. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is \u201ctrusted, convenient and efficient\u201d. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia\u2019s OLX Auto and Carousell Auto Group. According to Malaysia\u2019s Carsome to list on NASDAQ at $2B valuation \u2013 report"}, {"url": "https://technode.global/2022/06/23/ethis-group-and-gobi-partners-to-debut-shariah-compliant-20m-seed-fund/", "page": 53, "title": "Ethis Group and Gobi Partners to debut Shariah-compliant $20M seed fund", "contents": "Malaysian ethical investment and social finance platform operator The fund, which is targeted to have its first closing by the end of this year, is notable for being Ethis Group\u2019s first move into the venture fund space as well as Gobi Partners\u2019 first-ever fully Shariah-compliant fund, the duo said in a statement. This collaboration combines the venture guiding acumen of Gobi Partners which currently has $1.5 billion of assets under management across North Asia, South Asia and ASEAN, with Ethis Group\u2019s growing group of fintech investment and crowdfunding platforms in Indonesia, Malaysia and most recently Oman. The fund will benefit from the network of start-ups and scale-ups accessible by Gobi Partners, a prominent name in Asia, and Ethis with its deep relationships in the halal economy and impact-investment space. The partnership is aimed at capturing the growth of startups in the Halal economy where startups adhere to Shariah law, and thus their products are built to serve a large Muslim community. The geographic presence of Gobi and Ethis in markets with large Muslim populations bode well for the joint fund to invest in these startups. Furthermore, the fund\u2019s focus on the broader ethical investment agenda resonates well with the post-pandemic emphasis on environmental, social, governance and sustainable investments that also stretch beyond the Muslim community. \u201cThe establishment of this joint fund will allow us to channel investments into tech startups driving change and making an impact. Venture capital is in high demand and suitable for ethical investment,\u201d said Ethis Investment Platform LLC (EIP) Chief Executive Officer, Mohamed Shehzad Mohamed Islam. Once launched, the joint Fund will invest in Shariah-compliant startups globally with an initial geographic focus in the Middle East and Northern Africa (MENA) as well as the ASEAN regions. EthisX\u2019s presence in the Sultanate of Oman in particular is timely as it can have direct access to the growing investment opportunities supported by the Oman Vision 2040 which emphasised the diversification of its economy, development of the fintech industry and digitisation efforts by the authorities. \u201cWe are excited to partner with Ethis Group in creating this new Shariah-compliant Fund, which is very much in line with our existing TaqwaTech focus. Muslim consumers represent a $2.2 trillion market opportunity, and the Muslim community is anticipated to make up more than 31 percent of the world\u2019s population by 2060, however, the Muslim community\u2019s digital needs are largely unmet or underserved,\u201cThrough this partnership with Ethis and the creation of this dedicated Fund, we will now be able to fund, nurture and support even more Muslim entrepreneurs,\u201d said Gobi Co-Founder Thomas Tsao. Founded in 2002, Gobi Partners which is now headquartered in Kuala Lumpur and Hong Kong, supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Gobi has raised 15 funds to date, invested in over 320 startups and nurtured nine unicorns. The latter includes Malaysia\u2019s first unicorn, car e-commerce marketplace Carsome, and British-Hong Kong biotech startup Prenetics. In 2016, Gobi launched its TaqwaTech vertical which focuses on investments in Islamic ventures and the global Muslim economy. Most notable of its TaqwaTech investments is Dubai-based Umrahme, which is now the global market leader in online Umrah pilgrimage bookings with over 3.5 million pilgrims since its inception in 2019. Gobi Partners publishes inaugural Sustainability Report"}, {"url": "https://technode.global/2022/06/22/malaysia-to-focus-on-creating-smart-cities-says-science-minister/", "page": 53, "title": "Malaysia to focus on creating smart cities, says Science Minister", "contents": "Malaysia is focusing on creating smart cities based on the trend of increasing population in the urban areas, according to the country\u2019s Science, Technology and Innovation Minister Dr Adham Baba. The creation of smart cities was one the approaches being taken in solving urbanization issues to improve the residents\u2019 quality of life, spur economic growth, provide a safe environment, and encourage efficient urban management technology application, he said, national news agency \u201cAccording to the Second National Urbanisation Policy report, Malaysia\u2019s urban population is expected to increase from 20.29 million in 2010 to 27.3 million by 2025. \u201cIt is estimated that over 70 percent of the country\u2019s population live in the urban areas,\u201d he said in his speech when launching the sustainable smart city sandbox pioneer programme between National Technology and Innovation Sandbox (NTIS) and Sunway Innovation Labs (iLabs) on Tuesday. Dr Adham said that having smart cities in this country would enable the use of technology developed by local talents through the initiatives of the Ministry of Science, Technology and Innovation (MOSTI) such as the NTIS to assist the authorities in tackling urbanisation issues and raise the quality of life. At the ceremony, MOSTI through an agency under the Malaysia Research Accelerator for Technology and Innovation (MRANTI) has also signed a memorandum of understanding (MoU) with Sunway Innovation Labs for the smart city sandbox through NTIS. NTIS is a platform to accelerate the process of changing the country as a user of technology to producer of technology. Through this collaboration, the innovations developed by start-up company, Sunway iLabs Super Accelerator, could be channeled to NTIS for testing in an actual urban setting developed by Sunway and for monitoring and sponsorship before taking the technological solutions to the market and implemented across the nation. This effort could make Bandar Sunway a living lab, bring in young talents, intellectuals, research experts, innovative labs and commercial activities to generate actual solutions for the urban areas in future. Among the benefits of the sustainable smart city sandbox pioneer program would be achieving Malaysia\u2019s commitment to becoming a carbon neutral nation towards zero carbon emissions by 2050 and make Malaysia a greener country, in line with the United Nations Sustainable Development Goals, Dr Adham said. The Sunway urbanization action plan can be adapted nationwide for the safety, comfort, well-being, and improving the quality of life of the residents, while also protecting and conserving the environment, according to the report. MRANTI\u2019s Fourth Industrial Revolution Innovation Hub to benefit 1,250 biz owners this year"}, {"url": "https://technode.global/2022/06/21/malaysias-naluri-secures-7m-pre-series-b-funding-round-led-by-pruksa-group/", "page": 53, "title": "Malaysia\u2019s Naluri secures $7M pre-series B funding round led by Pruksa Group", "contents": "Malaysian digital health service provider Pruksa Group\u2019s investment is joined by Bertelsmann Investments from Germany and Striders Corporation from Japan and is supported by several returning investors, including M Venture Partners (MVP), Palm Drive Capital, and INP Capital, Naluri said in a statement. The new funding is earmarked for Naluri\u2019s strategic expansion in Thailand and will further bolster the company\u2019s operations in Malaysia, Singapore, and Indonesia. Naluri\u2019s digital health service and healthcare cost-containment solution deploys technology to deliver integrated person-centred care to transform the lives of people at risk of, or managing, the most pervasive chronic and mental health conditions. Chronic health conditions, including type two diabetes, hypertension, obesity and hyperlipidemia are reaching endemic proportions in the region, reducing work capacity, life expectancy, and economic productivity. The company, founded in 2017, pairs evidence-based interventions and human-led expertise with a digital platform (via the Naluri app) to deliver significant health outcomes at a lower cost to healthcare payors. In a region where shortages of registered professionals constrain care delivery, Naluri also empowers its team of health and wellness experts with data and the company\u2019s proprietary artificial intelligence (AI)-augmented coaching platform, decision support systems and self-help digital tools to deliver highly personalised behavioural health programmes at scale. Expanding beyond its digital chronic disease management and employee assistance programmes, the company\u2019s breakthrough is its ability to combine an organisation\u2019s historical claims data with organisation-wide health screenings to understand and forecast future healthcare demands and costs. Then, coupling the health risk data with regular health monitoring, Naluri delivers proactive early interventions that prevent the onset of additional medical complications that often lead to escalating costs. The company, founded by serial entrepreneur Azran Osman-Rani and medical systems expert Jeremy Ting, is backed by prominent investors, including Integra Partners, Pathology Asia (via Biomark), M Venture Partners (MVP) and Sumitomo Corporation Equity Asia. Naluri serves more than 75 of the region\u2019s leading employers in industries that include financial services, oil and gas, property development, telecommunications, tertiary education and aviation. It offers healthcare payors effective corporate wellness solutions across Malaysia, Singapore, Thailand and Indonesia, with imminent plans for expansion into the Philippines, Hong Kong and Australia. According to Naluri, Southeast Asia faces an epidemic of chronic non-communicable diseases, now responsible for 60 percent of deaths in the region. The problem stems from environmental factors that promote tobacco use, an unhealthy diet, and inadequate physical activity and is made more urgent by the COVID-19 pandemic, which disproportionately affected those with pre-existing conditions and further disrupted essential prevention and treatment services. The issue is so pervasive that the World Health Organization (WHO) welcomed a new Heads of State and Government Group to get the world back on track to reduce premature deaths from noncommunicable diseases by a third \u2013 in line with the Sustainable Development Goals (SDGs). With the exacerbation of mental health conditions, including depression, anxiety, stress and burnout on the back of Covid-containment measures, Naluri said the demand for accessible, affordable and scalable solutions has spurred its growth. \u201cWe must do more to not only manage chronic health and mental health conditions, but we must also prevent them as well. We must do so quickly and effectively. Global markets have tightened, but this investment affirms Naluri\u2019s mission and fast-tracks our efforts to deliver support to more deserving people in the region,\u201d said Naluri Co-Founder and Chief Executive Officer Azran Osman-Rani. Malaysia\u2019s RHL Ventures scouts opportunities in ESG, healthcare & financial sectors as it finalizes Hibiscus fund"}, {"url": "https://technode.global/2022/06/17/malaysias-capital-a-mulls-us-listing/", "page": 53, "title": "Malaysia\u2019s Capital A mulls US listing", "contents": "Capital A BhdIts Chief Executive Officer Tony Fernandes said in a statement that the group is evaluating all fundraising options, including private placement, direct listing or listing via a merger with a Special Purpose Acquisition Company (SPAC). The firm has also received a clean audit report by Auditors Ernst & Young, which was tabled at the annual general meeting and received by the shareholders, denoting confidence in Capital A\u2019s ability to continue business for the future. According to Fernandes, the clean audit report is a key step forward to expedite removal of PN17 status which he is confident of exiting in the coming months. \u201cThe PN17 regularisation plans are on track, which the management team is developing, taking into consideration multiple solutions without proposals for capital dilution or equity raising. We are confident of meeting the deadline to submit the plan to Bursa Malaysia by early January 2023,\u201d he said. Citing strong air travel demand and plans to recover to pre-Covid capacity, he said the airlines have strategic plans in place to paint the skies red once again with a leaner and more robust model for a successful and viable operation for the future. On the digital side, he said the group will continue to forge ahead with its ambitions to become the leading super app of choice in Asean, Teleport to be the leading logistics provider with the best and fastest coverage and BigPay to be the neobank that provides the best value across our suite of financial products. \u201cWe strive to be the preferred choice for customers in delivering the best value and high quality at the lowest cost for everyone,\u201d he said. Tony Fernandes plans US listings for AirAsia airline & super app \u2013 report"}, {"url": "https://technode.global/2022/06/17/airasia-super-app-launches-closed-loop-e-wallet-platform/", "page": 53, "title": "Airasia Super App launches closed-loop e-wallet platform", "contents": "The Airasia Super App said in a statement that airasia pocket users will be able to earn airasia points upon activation. Airasia pocket is currently available to all airasia Super App users in Malaysia in the Ringgit Malaysia currency. \u201cAs fintech and neobanks continue to reshape the financial landscape in Malaysia and across ASEAN, airasia Super App is continuing to be an industry disruptor and expand its fintech services by launching airasia pocket, which enables our app users to make payment for all products and services faster within the Super App ecosystem,\u201cThis includes payments for flights and hotel bookings, as well as on airasia food, airasia grocer, airasia xpress, or when booking a ride through airasia ride. This aligns with our fintech strategy to drive a seamless user experience and make online payments\u2019 invisible\u2019. By working with our partner Fasspay, users can have peace of mind as this new feature is completely secure, fully compliant, and licensed by Bank Negara Malaysia,\u201d said Mohamad Hafidz Mohd Fadzil, airasia Super App\u2019s Chief Fintech Officer. According to the statement, two types of airasia pocket accounts are available \u2013 the Lite and Pro. The Lite account is recommended for everyday use with a wallet size limit of MYR500 ($113.62), while the Pro account is designed for higher value transactions with a wallet size of up to MYR4,999 ($1135.93). \u201cThis is the final step in closing the loop for the whole airasia ecosystem, which will draw out the true superpower of the airasia Super App.  airasia pocket is the more accessible, faster, and more rewarding way to pay for anything within the airasia ecosystem and will facilitate a better user experience. Having airasia pocket also provides more significant insights into customer behaviour which will assist us in giving better value and more quality services to all our app users,\u201d said Amanda Woo, Chief Executive Officer of airasia Super App. The airasia pocket\u2019s features are developed by Fass Payment Solutions Sdn Bhd (Fasspay), a white-label e-wallet player and an approved e-money provider by Malaysian Central Bank. This platform is designed to allow its partners to build and innovate on Fasspay\u2019s full-stack payments platform and offer various payment and financial services to their customers. \u201cWe are honoured to be a partner in airasia Super App\u2019s fintech journey and will continue to support its aspiration to grow regionally and globally. Fasspay\u2019s mission is to enable our partners, such as airasia Super App, to realise their vision by using this wallet-as-a-service to extend their financial services. This partnership is just the beginning for Fasspay as our ultimate aim is to avail this full-stack payments platform to other customers both small and large globally,\u201d said Chris Leong, Chief Executive Officer of Fasspay. Currently, top-ups for airasia pocket are available via Online Banking (FPX), with more options to be added in the future. The airasia Super App is a one-stop travel, e-commerce and fin-tech platform offering consumers over 15 lines of products and services via the super app as well as airasia. com website. Powered by data and technology, the airasia super app leverages its digital ecosystem of 51 million users and 40 million downloads to generate personalised and seamless consumer experience in the digital new era. Users can also engage in real-time conversations, join like-minded communities, play games and much more. From travel needs to everyday lifestyle essentials, there is always something for everyone on the airasia Super App. Established in 2012, Fasspay is a wholly-owned subsidiary company of SoftPOS player Soft Space Sdn Bhd (Soft Space), that acts as a merchant acquiring arm for partner banks. With over 30 financial institutions across 10 countries, Fasspay provides more than just mobile payment solutions. As a non-bank e-money issuer regulated by Bank Negara Malaysia, and a Visa Ready BIN Sponsor, Fasspay is able to provide merchant partners white label e-wallet services and white label Visa prepaid card that serves as a value-add to their existing business solution. Tony Fernandes plans US listings for AirAsia airline & super app \u2013 report"}, {"url": "https://technode.global/2022/06/14/malaysia-unicorn-carsome-announces-appointment-of-advisory-board/", "page": 54, "title": "Malaysia unicorn Carsome announces appointment of advisory board", "contents": "Malaysia-headquartered integrated car e-commerce platform The advisory board is made up of \u201cindividuals of various specializations, dynamic perspectives and deep expertise who will provide insights, connect networks and share experiences in building and scaling technology companies in the region\u201d, Carsome said in a statement. The board currently consists of four members, namely Managing Partner & Co-founder of Asia Partners, Nicholas Nash; Founder of Smile Group, Harish Bahl; Managing Partner of Indies Capital, Pandu Sjahrir; and Vice President of Meta Asia Pacific, Dan Neary. Carsome\u2019s announcement also came after it was reported Carsome Co-founder and Group CEO Eric Cheng said that the advisory board adds \u201cgreat values\u201d to Carsome\u2019s leadership team by elevating decision-making and affirming the company\u2019s next steps on firmer, proven footing. \u201cWe are deeply honored by this priceless opportunity to stand on the shoulders of giants and work with elites of their respective industries,\u201d he said. Nash was best known for spearheading Southeast Asia\u2019s internet company Sea Ltd. \u2019s landmark IPO on the New York Stock Exchange, the largest US IPO of a Southeast Asian company. \u201cCarsome definitely has the potential to become Southeast Asia\u2019s next big thing, and we are excited to help accelerate the company\u2019s next growth spurt,\u201d said Nash, who is also the Chairman of the advisory board. Bahl is a serial entrepreneur with a track record in founding and building e-commerce and digital media companies across Asia and other emerging markets. He has partnered and built businesses with major companies like Airbnb, Ogilvy, WPP Digital and Yahoo!, among others. Sjahrir, serves in multiple organizations to promote entrepreneurship and education in the region. Indies Capital, where he is the Managing Partner, has invested over $1.1 billion and is a shareholder in more than 100 companies over the last seven years. Sjahrir is currently the Chairman of Indonesia for Sea Ltd and the Chairman of GoTo Financial, part of GoTo Group which is one of Indonesia\u2019s first unicorn technology companies. \u201cThe formation of Carsome\u2019s advisory board underscores the importance and the company\u2019s focus on the Indonesian market. I am happy to guide the Carsome team into accelerating the growth and expansion of its Indonesian market through a multi-pronged approach,\u201d added Sjahrir. Neary is one of the most seasoned and influential operators with almost three decades of executive-level experiences in Asia. Having gone through the exciting development in the region in management positions with great companies like eBay, Skype and Meta, Neary has deep expertise in operating and advising technology and e-commerce companies in developing markets. Besides, Neary is also active in the entrepreneurial community. He co-founded Travelmob (acquired by HomeAway) in the early days. He is now an active Limited Partner with a couple of Venture Capital funds, an early-stage investor in over 15 companies. Malaysia\u2019s Carsome to list on NASDAQ at $2B valuation \u2013 report"}, {"url": "https://technode.global/2022/06/13/tony-fernandes-plans-us-listings-for-airasia-airline-super-app-report/", "page": 54, "title": "Tony Fernandes plans US listings for AirAsia airline & super app \u2013 report", "contents": "Tony Fernandes\u2019s  \u201cIf you want to be an actor, you\u2019re probably going to want to end up in Hollywood at some stage in your career,\u201d Fernandes told the\u201cWe think the time is right for part of Capital A Group to be listed in the US,\u201d he was quoted as saying.  He said the group had begun compliance work and envisaged two separate listings, one for AirAsia \u201csometime next year\u201d, followed by the so-called super app, which will offer services from travel to takeaways. The company, which previously considered merging its digital businesses with a special purpose acquisition company (SPAC), dipped into the red during the pandemic, prompting audit firm EY in July 2020 to question its ability to survive. Fernandes said that issue had now been resolved. Capital A, previously known as AirAsia Group, has been aggressively building its digital businesses and super app over the last two years as most of its planes were grounded due to travel restrictions to contain the COVID-19 pandemic. The group has hoped to build its super app, modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offer a variety of services including ride-hailing, food delivery, and payment services. Capital A remains under Practice Note 17 (PN17) on the Malaysian stock exchange \u2014 a listing for groups in financial distress. Fernandes, who is Capital A\u2019s Chief Executive Officer, insisted that was a solvable \u201caccounting\u201d issue, which \u201cdoesn\u2019t reflect the fundamentals of the company\u201d, he told He said 85 of AirAsia\u2019s 212 aircraft were now flying, with 80 to 90 percent load factors, and 176 aircraft back in the skies by December. \u201cI think in the third and fourth quarter, we would be EBITDA-positive, including leasing, and so\u2009.\u2009.\u2009.\u2009I\u2019m quite confident of 2023 being profitable and definitely cash flow positive,\u201d he was quoted as saying. Capital A\u2019s first-quarter losses widened to MYR903.79 million ($204.67 million) from MYR767.42 million a year ago. Commenting on the listing plans, Fernandes cited his success in transforming from Warner Music executive to budget aviation pioneer after buying AirAsia from the Malaysian government in 2001 for less than $1, would eventually sway investors. \u201cTwenty years ago, when I started this airline, no investor wanted to invest in us. It wasn\u2019t a very convincing story to say you\u2019re going to start up an airline when you\u2019re from the music business, with no money, and go up against Malaysia Airlines, Singapore Airlines and the like,\u201d he was quoted as saying. \u201cTwenty years later, I now say I\u2019m going to take on these digital unicorns. Probably not a convincing story either from an airline that\u2019s struggling, going through Covid, has a weak balance sheet, etc. But it\u2019s slowly coming,\u201d he told The airasia super app was valued at around $1 billion in July last year On Monday, Capital A shares were trading at MYR0.635 at the time of writing, giving the group a market capitalization of MYR2.642 billion ($598.26 million) . AirAsia aims to become Asia\u2019s largest food delivery, ride hailing company \u2013 report"}, {"url": "https://technode.global/2022/06/10/malaysias-khazanah-launches-sustainability-framework-targets/", "page": 54, "title": "Malaysia\u2019s Khazanah launches sustainability framework & targets", "contents": "Malaysia sovereign wealth fund At the launch, Khazanah has also presented their views on the need for businesses to focus on a just and responsible transition. The Sustainability Framework introduced by Khazanah is designed to be holistic, captured under the three main pillars of ESG, and focuses on issues which most impact the organization and its portfolio from a business materiality point of view. \u201cTo execute a coherent response to sustainability, we will adopt an all-of-Khazanah approach \u2013 covering all aspects of how it behaves as a responsible investor, as a sustainable organization, and as a good corporate citizen,\u201d Khazanah Managing Director Amirul Feisal Wan Zahir said at the launch of theHe added that sustainability is also a core part of its \u201cAdvancing Malaysia\u201d strategy introduced earlier this year, under the pillar of \u201cCreating a Sustainable Future\u201d. \u201cKhazanah\u2019s aspiration is to play a leading role in shaping an equitable and responsible transition towards a sustainable future for Malaysia,\u201d he said. As the country\u2019s sovereign wealth fund, Amirul Feisal said it is pivotal for Khazanah to ensure that its actions support and encourage a responsible transition towards a more resilient and inclusive economy. Due to the complex and diverse nature of companies in its portfolio, he said Khazanah will take a collaborative approach to work with its investee companies to shift towards a more sustainable business model, ensuring that these companies remain competitive and resilient against challenges faced, as well as to enable them to take advantage of sectors and themes benefiting from ESG tailwinds. \u201cWe have developed a set of Guiding Principles to anchor our decision making in our Sustainability journey. We strive to bring balance in adhering to these principles, allowing flexibility to adapt our Sustainability approach based on the different asset classes and sectors that we invest in. Fundamentally, we aspire for positive and improved outcomes that will not only benefit the economy but society as a whole,\u201d Amirul Feisal said. About 150 Chairmen, CEOs and Senior Management of government-linked investment companies (GLICs) and selected government-linked companies (GLCs) under Khazanah attended the launch event. In his speech at the event, Malaysia Finance Minister Zafrul Tengku Abdul Aziz said that the government has outlined several key priorities in its recently announced Budget 2023 Pre-Budget Statement, including Malaysia\u2019s strategic transition from the current recovery phase to longer-term reforms. These include facilitating better income opportunities and improved holistic wellbeing in order to achieve Keluarga Malaysia\u2019s vision of more inclusive and sustainable development. He added that the Finance Ministry is confident that both public and private sectors will play their respective roles and contribute to the success of Malaysia\u2019s sustainability efforts and goals. \u201cI am also pleased to see that Khazanah\u2019s goals are consistent with the nation\u2019s objectives and the standards set by other leading global ESG practitioners. It is my hope that Khazanah will continue to champion sustainability and act as a partner to its portfolio companies as we work to achieve Net Zero by 2050\u201d he added. As part of its Framework, Khazanah has identified Sustainable Investing and Enterprise Sustainability as two key action points to help achieve its sustainability targets. Through Sustainable Investing, Khazanah will embed ESG considerations into its investment decision-making and stewardship of all its investee companies. Additionally, through \u201cDana Impak\u201d, Khazanah will actively invest in catalytic sectors that will help build national resilience and deliver socio-economic benefits to the nation. This includes themes around building climate resilience, as well as providing decent and dignified work, and social mobility for the people. Concurrently, via its Enterprise Sustainability approach, Khazanah will embed sustainability into its day-to-day operations through better management of its energy usage, material consumption patterns, as well as travel practices. Khazanah also aims to create greater impact through contributions to society and community. This includes continuing its efforts towards empowering communities, protecting the environment, promoting arts, and preserving heritage. This is carried out through its foundations, Yayasan Hasanah and Yayasan Khazanah, as well as other affiliated entities such as Taman Tugu, Think City and Khazanah Research Institute. Under the Environmental imperative, Khazanah aims to safeguard Malaysia\u2019s natural assets as well as protect the environment for current and future generations. Under the Social imperative, Khazanah aims to improve the socio-economic well-being of all stakeholder groups by taking into consideration how business actions affect their customers, employees, suppliers, contractors, and the surrounding communities. While under the Governance imperative, Khazanah will ensure its actions and policies as stewards of businesses are carried out in a responsible manner. Within the Environmental pillar, Khazanah has set a target to achieve net zero emissions by 2050 and will be working towards carbon-neutral operations by 2023, actively assessing ways in which it can eliminate its emissions footprint through better work practices \u2013 as well as funding initiatives and projects providing a carbon offset. On the Social front, Khazanah aims to enhance diversity, equality and inclusion policies and programs. Khazanah will also work towards ensuring 30 percent of the Boards and senior leadership positions are held by women by 2025. In addition, Khazanah will introduce measurable socio-economic impact targets for all relevant initiatives, including under its Dana Impak and its foundation, Yayasan Hasanah, by 2023. From a Governance standpoint, Khazanah will enhance Board competencies in the area of sustainability at its portfolio companies by 2024, disclose its voting principles at company general meetings by 2022, and include ESG-linked KPIs for key leadership positions for its portfolio companies by 2023. Southeast Asia primed for investments to bridge sustainability opportunities, says Bain & Co, Temasek report"}, {"url": "https://technode.global/2022/06/09/alipay-partners-comfortdelgro-for-foreign-mobile-payments-in-singapore/", "page": 54, "title": "Alipay+ partners ComfortDelGro for foreign mobile payments in Singapore", "contents": "ComfortDelGro TaxiUsers of these mobile wallets can pay for the cab fare simply through the wallet apps without the need to exchange currency, both parties said in a statement. \u201cWith Singapore reopening its borders, we are looking forward to having tourists come visit us. As such, our partnership with Alipay+ is a vital one as it allows cashless payment options such as Malaysia\u2019s Touch \u2018n Go eWallet and soon South Korea\u2019s Kakao Pay available on board ComfortDelGro taxis, making it more convenient for both Malaysian and South Korean tourists to pay for taxi fares. This saves them the hassle of having to have ready cash in local currency as they are able to pay the fares upfront on their own Touch \u2018n Go eWallet or Kakao Pay App,\u201d said ComfortDelGro Taxi\u2019s Chief Executive Officer Jackson Chia. ComfortDelGro Taxi is Singapore\u2019s largest taxi operator with a combined fleet of about 9,000 Comfort and CityCab taxis. Apart from cash payment, all ComfortDelGro Taxis currently support about 20 different cashless payment methods. \u201cTransportation is an essential daily need; taxi of all modes of transportation is even more important especially to travelers. Through the support and collaboration with ComfortDelGro Taxi, we aim to deliver to all users of mobile payments supported by Alipay+ a seamless and smart digital travel experience in Singapore, where they can pay with mobile wallets they are familiar with,\u201d said Cherry Huang, General Manager, Global Merchant Partnership, South and Southeast Asia, Ant Group. \u201cThis partnership also comes at a great time, as Singapore leads the way in opening up its borders and welcomes tourists back in the city state. We believe this is the perfect moment for tourists to reimagine travel experience post pandemic,\u201d she added. Introduced by Ant Group in 2020, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach 1 billion regional and global consumers, through one-time integration and simple technical adaption. Other leading e-wallets supported by Alipay+ include GCash (Philippines), TrueMoney (Thailand), Alipay HK (Hong Kong SAR, China) and more. Cited Singapore Tourism Board, the statement said the number of visitors to Singapore in the first four months of 2022 has exceeded figures for the whole of 20211. Malaysia is ranked #3 among the top countries where the most tourists are from. South Korea is also an important traveler source market for Singapore. In pre-COVID times, South Korea was ranked 9th out of the top 15 visitor source markets in 2019. Singapore FinTech firm HitPay raises $15.75M Series A funding led by Tiger Global"}, {"url": "https://technode.global/2022/06/09/carsome-launches-largest-experience-center-in-malaysia/", "page": 54, "title": "Carsome launches largest experience center in Malaysia", "contents": "Malaysia-based integrated car e-commerce platform, For customers, the Automall enables them to experience prospective cars \u2013 from viewing, to selecting, to on-the-spot test driving \u2013 and thereon completing their purchase with on-site financial facilities that can process loan applications and approvals in one day, Carsome said in a statement. It said its additional conveniences include car aesthetic services such as detailing and tinting for their newly-bought cars. Carsome Co-Founder and Group Chief Executive Officer Eric Cheng said the Automall aims to enhance customers\u2019 car purchase journey by offering them convenience and comfort under one roof. \u201cThe launch of the Carsome PJ Automall will strengthen our online-to-offline hybrid offering and raise the bar on our customers\u2019 car buying experience. Our motivation is to make this experience center a lifestyle-centric one, where customers can walk in to enjoy the shopping process, and more importantly, leave the worry and hassle to our dedicated teams,\u201d he added. Located along the Federal Highway in the iconic Naza Automall showroom, the Carsome PJ Automall occupies a built-up space of over 100,000 square feet. It can accommodate more than 200 cars \u2013 from Carsome\u2019s growing online inventory of over 1,600 cars \u2013 for customers\u2019 viewing convenience, ranging from sport utility vehicles (SUVs), multi-purpose vehicles (MPVs), 4x4s, sedans, hatchbacks to the luxury line segment. The Automall also plays host to banking partners such as Maybank and Public Bank; car detailing and tinting partners namely Ecotint and Glass Auto, underlining Carsome\u2019s endeavor in offering a differentiated car buying experience. First introduced in 2020, Carsome Experience Centers put forth the concept of \u2018The New Way of Buying Cars\u2019 and enabled customers the flexibility to browse a selection of Carsome Certified cars from Carsome website before arranging for a test drive at the nearest Carsome Experience Center. Since then, Carsome has established more than 10 Experience Centers in Malaysia to better serve the growing demand for pre-owned cars.  To continue offering customers quality assurance and peace of mind in their car ownership journey, Carsome is exploring new partnership opportunities with brands from various industries. This is part of the company\u2019s continuous effort to address customers\u2019 pain points and deliver a differentiated experience in the industry.    Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. Based in Malaysia, the company has expanded to Indonesia, Thailand and Singapore. Malaysia\u2019s unicorn Carsome\u2019s part of KAF-led consortium winning digital bank license"}, {"url": "https://technode.global/2022/06/08/malaysias-iprice-group-lays-off-20-percent-staff-in-move-to-focus-on-core-mission/", "page": 54, "title": "Malaysia\u2019s iPrice Group lays off 20 percent staff", "contents": "iPrice GroupThe layoffs are part of several measures to focus the business on its core mission \u201cto help people save money\u201d shopping online, iPrice said in a statement. The move comes three months after the company announced a $5 million investment from Japanese Conglomerates Itochu Corporation and KDDI Corporation. According to iPrice proprietary data, two-thirds of shoppers in Southeast Asia overpay by more than 10 percent when shopping online. iPrice said it solves this problem by comparing prices, promotions and seller discounts across its vast catalogue of 7.5 billion+ offers collected from thousands of sellers and marketplaces. The best offers are then surfaced on the iPrice website, which can be seen as Google for products in Southeast Asia. In addition, the company offers users additional savings via the most comprehensive coupons offering in the market. Over the years, iPrice expanded the business from its website to offer a full-suite white-label marketplace solution for super apps, including buy now pay later (BNPL) providers and recently started building its app to capitalize on the 100 million+ users who visit iPrice websites every year. \u201cWhilst we proved these new services all resonated with online shoppers, they each required further investment with a longer-term payback. In today\u2019s uncertain economic environment, it\u2019s important to be hyper-focused on the company\u2019s core product,\u201d said iPrice Group Co-Founder David Chmela\u0159. While iPrice will refocus on its core mission, it said partnerships will continue as a subscription model with a focus on providing interested players access to SEA\u2019s best-curated product catalogue and rich data about the regional e-commerce landscape. \u201ciPrice team is a strong community, so it was a tough decision to reduce our team in line with the refocus on our core business. With these changes, however, we are in a stronger position to deliver on our core mission to help people save money,\u201d said iPrice Group Chief Executive Officer Paul Brown-Kenyon. In the retrenchment process, iPrice said it will follow all contractual and legal requirements and is actively helping those staff who have been let go find new opportunities. Malaysia\u2019s iPrice Group raises $5M from Itochu Corporation and KDDI Corporation"}, {"url": "https://technode.global/2022/06/07/gobi-partners-publishes-inaugural-sustainability-report/", "page": 54, "title": "Gobi Partners publishes inaugural Sustainability Report", "contents": "Pan-Asian venture capital firm \u201cIt is especially poignant for Gobi to publish our first Sustainability Report during Pride Month and on World Environment Day, and we look forward to further advancing and promoting environmental stewardship, social progress, and good governance through our work highlighted in this report and our sustainability initiatives in the future,\u201d the Kuala Lumpur and Shanghai-headquartered VC firm said on its website. Over the past few years Gobi said it has unlocked new opportunities for value creation through a plethora of ESG and impact initiatives, programs, and partnerships; some of these, detailed in its report, include:A copy of the Sustainability Report can be downloadedGobi Partners and Ozora Venture launch first $10M seed fund for women startups in Indonesia"}, {"url": "https://technode.global/2022/06/06/malaysian-conglomerate-sunway-to-launch-largest-indoor-vertical-farm-in-kl-city-center/", "page": 54, "title": "Malaysian conglomerate Sunway to launch largest indoor vertical farm in KL city center", "contents": "Sunway XFarms, a Malaysia-based agritech company, will launch Kuala Lumpur city center\u2019s largest indoor vertical farm in the third quarter of 2022. The urban farm will occupy three floors spanning 37,000 square feet in Sunway Tower, Sunway said in a statement on Tuesday. The farm is expected to produce at least 13,000 kilograms of \u201cfresh, healthy, and pesticide-free\u201d vegetables per month. The new Sunway XFarms hub at Sunway Tower will allow the urban population of Kuala Lumpur, the capital city of Malaysia, to enjoy fresh produce with maximum nutritional benefits, grown in the heart of the city and delivered to restaurants and consumers within three hours of harvest. \u201cWith Sunway XFarms\u2019 launched in Sunway Tower, we hope to accelerate our commitment towards scaling sustainable food production which is close to consumers.  Sunway XFarms will be able to contribute towards Malaysia\u2019s food security, one seed at a time,\u201d said Sunway XFarms Chief Operating Officer Eleanor Choong. Located at the intersection between Jalan Sultan Ismail and Jalan Ampang in Kuala Lumpur, known as the Golden Triangle, Sunway Tower is a 33-storey office building with convenient access to public transit and major expressways. The produce from Sunway XFarms is grown faster and healthier with significantly less wastage leveraging precision farming technologies. By using 90 percent less water as compared to traditional farming, XFarms is able to yield ten times more produce with less than 5 percent on-farm wastage. To ensure consistently high quality, produce is grown in a safe and controlled environment powered by a range of smart IoT sensors and cameras, which provide live analysis and information to the farm managers. \u201cSunway XFarms builds farms which are both market and technology-driven. Our smart farm ecosystem allows us to remotely manage our farms\u2019 output, match it to demand accurately and make informed decisions using data collected and analyzed from hundreds of data points at any given time. By doing so, we see that we are not only achieving key production metrics but also sustainability goals,\u201d added Choong. Sunway XFarms has nourished more than 1,800 families with over 15,000 kilograms of leafy vegetables grown and harvested right from the urban farm in Sunway\u2019s flagship smart sustainable city Sunway City Kuala Lumpur since itsSet up in September 2020 with funding and talent by Sunway Property and  Sunway Education Group, Sunway XFarms is currently collaborating with the group\u2019s various business divisions including Sunway Malls, Sunway Hotels and Resorts as well as Sunway Lagoon, to expand its presence by building four food hubs and farms in Klang Valley, Johor, Ipoh and Penang. The Sunway XFarms in Sunway City Kuala Lumpur is also a key source of ingredients for local healthy food eatery La Juiceria Superfoods as well as restaurants at the five-star hotel Sunway Resort which includes upcoming world-class restaurant Gordon Ramsay Bar & Grill. To reduce carbon footprint, food wastage and nutrition lost through transportation, all  Sunway XFarms\u2019 locations are strategically located to ensure fresh produce is  accessible to every neighborhood within a five-kilometer radius. This is in line with Sunway\u2019s commitment to advancing the United Nations Sustainable  Development Goals as well as its pledge to achieve net-zero carbon emissions by 2050, with an interim target to halve emissions by 2030. Sunway iLabs, Carsome to launch Malaysia\u2019s first auto ecosystem accelerator"}, {"url": "https://technode.global/2022/06/03/shell-malaysia-invests-in-malaysias-smart-mobility-solution-provider-parkeasy/", "page": 54, "title": "Shell invests in Malaysia\u2019s smart mobility solution provider ParkEasy", "contents": "Shell Malaysia Trading Sdn Bhd This investment will be Shell\u2019s first investment in a local Malaysian tech start up, and gives Shell an immediate path to an established parking and e-mobility platform in Southeast Asia, Shell said in a statement. \u201cDecarbonising mobility and enabling better services to our customers through digital innovation are core to our Powering Progress strategy. We intend to make investments that will help us serve our customers better through the energy transition and pressures of modern living. We value this opportunity to partner with a young Malaysian start-up, and believe our combined strength will help us develop superior mobility products and services for our customers,\u201d said Seow Lee Ming, Shell\u2019s General Manager Mobility. According to the statement, ParkEasy will continue to operate under its existing management and name. Over the last three years, ParkEasy has grown its business from a parking reservation app to include other offerings such as sales of its proprietary smart parking solutions and electric vehicle charging bay management systems. \u201cAt ParkEasy, we continually look for new, easier ways for people to enjoy an upgraded parking experience. We are excited to have Shell as a partner, especially as they support our vision and belief that people should always utilize their most valuable resource, time, on the things that truly matter to them,\u201d said Warren Chan, Chief Executive Officer, Pixelbyte. The deal is expected to complete in the third quarter of 2022. Established in 2014, ParkEasy (Pixelbyte Sdn Bhd) is a leading Malaysian smart mobility solutions provider. With the belief that everyone should be empowered to focus on the things that truly matter to them, it is best known for their on-demand car park reservation service that allows users to book guaranteed parking spots. With over 150,000 reservations to date, it has returned their many customers precious time that would have otherwise been wasted in frustration. In-line with the global adoption of electric vehicles, many of ParkEasy\u2019s bays are now also equipped with EV chargers, making it not only Malaysia\u2019s largest car park reservation service, but also Malaysia\u2019s largest privately-owned EV charging network. Beyond the app, it often works on custom smart mobility solutions for enterprises, notable projects include a brand loyalty parking service, an attendance-based staff parking system, and VIP event parking. Pixelbyte was co-founded by Warren Chan, Eric Tan and Winnie Mah in 2014. Early investors include Kumpulan Modal Perdana, Cradle Fund and 1337 Ventures. Shell is a global leader in power, energy, and gas technology and is working to meet increasing energy demand and supply challenges by delivering smarter products and cleaner energy, infrastructure, and by developing new energy sources while addressing the impact on the environment. Malaysia is one of Shell\u2019s heartlands. The history of Shell in Malaysia started about 130 years ago. Shell currently has a strong market presence in the upstream, gas-to-liquids, downstream and business operations sectors in Malaysia. The company is also driven towards contributing to the local talent pipeline, while playing its part in contributing towards the communities and the society through its various flagship social investment. ScaleUp Malaysia announces investments in 11 emerging startups"}, {"url": "https://technode.global/2022/06/03/most-digital-banks-are-not-profitable-simon-kucher-study-shows/", "page": 54, "title": "Most digital banks are not profitable, Simon-Kucher study shows", "contents": "Despite lofty valuations, most neobanks (digital banks) are not profitable, The global commercial strategy consultancy said in a statement that digital banks entered the banking scene a decade ago as mobile-focused challenger banks looking to establish primary, digital-only relationships with digitally savvy clients, and it estimates there are currently close to 400 neobanks around the world, together serving nearly one billion client accounts. However, despite their lofty valuations, its study found that only five percent of these challenger banks have managed to reach a breakeven point. Its analysis of 25 of the largest neobanks in the world also found only two have achieved profitability, and that a majority of them earn less than 30 US dollars in annual revenues per customer. Even for the most renowned challenger banks this is the case, it said. It also revealed that only five percent of neobanks are breaking even, with most earning less than $30 in revenues per customer per year. \u201cMoving from \u2018get reach\u2019 to \u2018get rich\u2019 requires a dramatic mindset shift that can be difficult to orchestrate. Yet it is critical that these digital banks make that leap before their sixth and seventh year in operation. The risk of failure rises exponentially at that point if the business is not even breaking even,\u201d said Christoph Stegmeier, Senior Partner at Simon-Kucher. Meanwhile, Simon-Kucher Banking Lead Asia Pacific (APAC) Silvio Struebi said this observation was in line with Malaysian Central Bank\u2019s eligibility criteria for digital banks in Malaysia, where the five awarded banks must showcase a clear projected path towards healthy returns. \u201cA well-defined value proposition and the use of innovative technology to better serve customer needs and reach under-served segments at reasonable cost of acquisition will be vital for success. Licensed banks will have to develop solutions that address the specific needs of the target segment, promote responsible usage of financial services and create positive impact on under-served segments,\u201d he said. According to the study, the market opportunity in Malaysia is substantial, and Malaysia currently ranks 36 out of 60 countries for digital banking development, at the lower end of APAC countries. Digital banking penetration is also lower than expected in Malaysia when compared to other similar markets which show up to 50 percent of adults with a digital banking account, and this indicates a significant growth potential for the awarded conglomerates and players in Malaysia, it said. For new players, it said either the pure digital-only challenger banks like SEA Group or banking speedboats of established players like RHB Bank, it will be crucial to get the value proposition right and to develop the monetization strategy before product launch. It said that introducing undifferentiated digital offerings like high interest saving accounts, credit cards, and micro, small and medium enterprises (MSME) loans will not be enough to win the under-served segment and digital-savvy customers in Malaysia as incumbent banks have increased their digital capabilities to better service the clients in recent years. For new digital banks, it said it\u2019s crucial to develop innovative growth strategies that resonate with the target customer base to acquire, hook, and retain these segments. \u201cThe single most important factor is to drive effective product usage and enablement. Many digital bank clients are inactive after opening their accounts despite high acquisition costs. Therefore, a superior customer experience combined with an attractive loyalty program and ecosystem will make the difference in delivering long-term profitability,\u201d said Struebi. Malaysian Central Bank in April announced five successful applicants for the digital bank licenses in the country. The successful bidders were: Boost Holdings Sdn. Bhd. and RHB Bank Bhd; GSX Bank Pte. Ltd  (Grab-Singtel consortium) and Kuok Brothers Sdn Bhd; Sea Ltd and YTL Digital Capital Sdn Bhd; Aeon Financial Service Co. Ltd, Aeon Credit Service (M) Bhd and Moneylion Inc; and KAF Investment Bank Sdn Bhd. GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2022/06/02/malaysias-home-services-platform-kaodim-to-cease-operations-next-month/", "page": 55, "title": "Malaysia\u2019s home services platform Kaodim to cease operations next month", "contents": "Malaysia-based home services platform \u201cSo it is with a heavy heart that we announce that from July 1, 2022, Kaodim and all its affiliate platforms will no longer be operational,\u201d its Co-Founder and Chief Executive Choong Fui Yy wrote in a note on Wednesday. \u201cAlthough our recent recovery has been strong, the last 2+ years have been incredibly challenging,\u201d he said. The prolonged COVID lockdowns and their \u201cknock on\u201d effects in the form of operational disruptions, labor shortages and higher running costs (especially on the service provider side) have significantly impacted its business and the quality of service, he added. \u201cMore recently, these challenges have compounded further with inflation and rising costs. This has affected customer demand, service provider fulfillment, margins and in turn, our earnings. Ultimately, we feel that we can no longer grow the business meaningfully for the long term, in line with our mission and ambitions,\u201d Choong said. \u201cAgainst this backdrop, we reluctantly but consciously arrived at the difficult decision to cease operations,\u201d he said. \u201cWe did not come to this conclusion lightly. Indeed, we considered and exhausted all options that were available to us. \u201dFounded in 2014, Kaodim. com said it is a web and mobile platform that provides an easy and dependable way for people to hire service providers whether it is a plumber, a hairstylist or a wedding photographer. Besides Malaysia, the company has operations in Singapore (Kaodim. sg), the Philippines (Gawin. ph) and Indonesia (Beres. id). The services marketplace is also said to be a model similar to According to data platform Malaysia home services platform Recommend Group raises $4M Series A funding led by China\u2019s Morning Crest Capital"}, {"url": "https://technode.global/2022/06/01/airasia-super-app-launches-e-hailing-service-in-thailand/", "page": 55, "title": "Airasia Super App launches e-hailing service in Thailand", "contents": "TheThailand becomes the second country for Airasia Ride\u2019s ASEAN expansion, and will offer taxi rides as part of its first phase of entry into the market, Airasia Super App said in a statement. \u201cAs we are starting off with taxi service for Airasia Ride, we are targeting to capture 70 percent of international tourists arrival into Bangkok, especially with the reopening of borders and resumption of travel post-pandemic. The differentiation that Airasia Ride will offer is the option for passengers to have options to book our English-speaking drivers community, and a fleet of new taxis which will ensure a pleasant travel experience for tourists in Bangkok while using Airasia Ride,\u201cAnd of course, we also prioritise the drivers\u2019 income opportunity and are happy to share that Airasia Ride taxi drivers take 100 percent of the fares they earn, as we do not impose the booking fee on drivers. Furthermore, passengers can be confident when booking Airasia Ride as our fares are transparent,\u201d said Nirada Tuckawarut, Head of Airasia Ride Thailand. According to the statement, there are currently 3,000 drivers registered with Airasia Ride in Bangkok, with plans to recruit more as the service expands across the city. In line with the aim to capture the international tourist riders market, the next provinces which Airasia Ride aims to expand to are holiday destinations such as Phuket and Chiang Mai. \u201cWe are very excited for the launch of Airasia Ride here in Bangkok today, as it completes the whole Airasia Super App ecosystem. Now, an Airasia Super App user arriving into Bangkok will have the full end-to-end experience, where they are able to book their flights, hotels and ride to their final destination all within the convenience of one single platform. Since our successful super app launch here in February, we have seen an increase of 53 percent in new users, mainly driven by our over-the-air (OTA) platform, which is our core business and we expect continued healthy growth of new users with the launch of Airasia Ride today. \u201cCongratulations to the whole Airasia Ride team in Thailand for working hard to get this service up and running by this quarter, and we look forward to serving more provinces across the country soon,\u201d said Amanda Woo, Chief Executive Officer of Airasia Super App. Last year, AirAsia Super App launched AirAsia Ride in the capital city Kuala Lumpur, Malaysia. It said it plans to rollout the e-hailing services in other countries including Thailand, Indonesia, the Philippines, and Singapore. airasia Super App collaborates with Google Cloud for digital growth"}, {"url": "https://technode.global/2022/05/30/mrantis-fourth-industrial-revolution-innovation-hub-to-benefit-1250-biz-owners-this-year/", "page": 55, "title": "MRANTI\u2019s Fourth Industrial Revolution Innovation Hub to benefit 1,250 biz owners this year", "contents": "MRANTI MakersLab, the Fourth Industrial Revolution (4IR) Innovation Hub developed at the The initiative was also targeted to help 5,000 would-be entrepreneurs through exposure to 4IR technology, as well as help 50 companies to build prototypes of their products, the minister said, national news agency He said the project to upgrade MRANTI Park to a 4IR Innovation Hub is aimed at creating a platform for entrepreneurial development and a commercialization center to encourage innovation among micro, small and medium enterprises (MSMEs). It also focuses on providing experimental laboratories to assist MSMEs or startups to carry out prototype activities, providing capacity and capability development aids on an ongoing basis. Dr Adham said the 4IR-themed innovation center, which was launched on Thursday, was one of the government\u2019s initiatives to guide entrepreneurs comprehensively from the prototype development process to product commercialization. He said MRANTI MakersLab was set up to provide a dedicated space equipped with testing and training facilities to enable innovators to conduct product test drives, as well as technologies that require field testing. MRANTI Makerslab, which currently has an area of 0.018 hectares (ha), will be increased to 0.046ha by November this year. It provides services covering drone technology design and prototyping, innovative 3D printing courses and 4IR flexible manufacturing systems as well as bio-science technology. MRANTI said An agency under Ministry of Science, Technology and Innovation (MOSTI), MRANTI is the one-stop research commercialization agency with the resources to accelerate the commercialization of innovative ideas that will drive impact. As a connector, collaborator and catalyst, it connects problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. MOSTI announced the formation of MRANTI Malaysia\u2019s MRANTI to open new learning and development centre to ramp up technology-savvy talent pool and innovation portfolio"}, {"url": "https://technode.global/2022/05/26/renewable-energy-rises-to-the-occasion-as-oil-gas-prices-spike/", "page": 55, "title": "Renewable energy rises to the occasion as oil & gas prices spike", "contents": "Editor\u2019s note:The fact that nine out of 10 countries in ASEAN pledged to achieve net-zero carbon economy does provide tremendous opportunities for renewable energy startups in the region. The nine ASEAN members with net-zero emissions targets made their pledges in 2020 and 2021 when their economies took heavy hits from the COVID-19 pandemic. ASEAN is targeting a 23 percent share of renewables in total primary energy supply and a 35 percent share in installed power capacity by 2025. The intergovernmental organization also wants to see a 32 percent energy intensity reduction from 2005 levels. The latest figures show ASEAN had a 13.9 percent renewable share of primary energy and a 28.7 percent share of power capacity in 2019. But the region had already achieved a 21.8 percent cut in energy intensity by that point, according to Asean Centre for Energy (ACE). Indonesia, Thailand, and Vietnam are expected to see some of the largest renewable capacity expansions in Southeast Asia in 2022, according to ACE. Some of the venture capital firms have already started scouting opportunities to invest in renewable energy startups in the region and closely watching the sector. \u201cIt is proven now that energy from fossil fuel sources is unsustainable, and coupled with the devastating effects on global warming, there is [a] tremendous impetus to shift to renewable sources,\u201d Malaysia-based private equity and VC firm Kairous Capital Partner Dr Michael Gan told \u201cWith the current geopolitical situation, this need has been higher due to the escalation of oil price. As many countries have committed to reaching net-zero by 2050, there would be significantly increased spending in this sector,\u201d he said, adding that some estimates put the additional spending at around $1-2 trillion annually. \u201cAs such, we believe there would be much potential for this sector. We have not invested in any such startups previously but are willing to consider it,\u201d he added. Earlier this month (May 10), the US Energy Information Administration (EIA) said it sees Brent crude oil prices averaging $107 per barrel in the second quarter this year (2Q22). The agency said sanctions on Russia and other independent corporate actions contributed to falling oil production in Russia and continued to create significant market uncertainties about the potential for further oil supply disruptions. EIA expects the Brent price to average $107 per barrel in 2Q22 and $103 per barrel in the second half of 2022. The average price is expected to fall to $97 per barrel in 2023, it said, adding that the price forecast is \u201chighly uncertain\u201d. Although renewable energy has yet to become a focused sector for AC Ventures, the Indonesia-based VC firm has already invested in a renewable energy startup. \u201cThe scope of renewable energy generally includes large-scale infrastructure projects, whereas we prefer to invest in less capital-intensive sectors,\u201d AC Ventures Vice-president of investment Laura Lestari told As Southeast Asia\u2019s largest country, Indonesia accounts for 40 percent of the region\u2019s energy consumption, and the demand is predicted to increase further following the rapid economic growth, Laura said. She said Indonesia is home to the enormous potential in renewable resources, including hydropower, geothermal, biomass/biogas, solar photovoltaic (PV), wind power, and marine energy. For the past decades, Indonesia has been largely dependent on fossil fuels- such as coal (which contributes over half of the energy share), natural gas, and oil for energy and electricity production, she said. \u201cThis offers huge potential opportunities given that the energy sector is one of the main contributors to emissions after agriculture, forestry, and other land uses\u201d. Following \u201cDeal flows in renewable energy do not come as often, given that the capital intensity may not make VCs well-positioned to invest compared to FinTech and e-commerce,\u201d she noted. Growth in this region\u2019s internet economy is also wired by the shift in consumers\u2019 behavior who have adopted and embraced digital services, particularly after the pandemic, which deepened the usage of digital consumption. With this new behavior ingrained in consumers\u2019 lives, it will only further accelerate the growth of eCommerce and its enablers, she added. While some may view renewable energy as a \u2018less popular\u2019 sector in the Southeast Asian region, Dr Gan begged to differ and opined that the industry is merely not as mature as compared to developed nations. \u201cI don\u2019t think it is less popular or \u2018less sexy\u2019 here, but I\u2019d have to say we are not as mature as developed countries. Take a look at their carbon offsets markets, it is already well-developed and become mainstream. The carbon finance sector is extremely important and must be taken into consideration in any business model,\u201d he shared. \u201cHowever, we see that this is starting to change, as Southeast Asia gets more well-informed and committed to fighting climate change. We will get there. \u201dAccording to Dr Gan, a good example would be the oil and gas or energy utility companies. They are seriously looking into renewable energy space and committed plenty of capital to it. For instance, Malaysian national oil and gas firm Petronas\u2019 expansion into renewable energy started as early as 2013, through its first internal solar photovoltaic project in Pahang, Malaysia. By 2018, this had increased to a total of five assets located across Malaysia and Italy. In 2019, Petronas New Energy has also established its presence as an international renewable energy player through the acquisition of Amplus Energy Solutions Pte Ltd. Shortly after, Petronas also launched its flagship rooftop solar solution, known as M+ by Petronas. To-date, Petronas has grown its solar capacity under operation and development to over 1GW in India, Malaysia and Dubai, servicing over 200 customers across more than 400 projects and growing, data from its website showed. In a recent interview with local business weekly \u201cOther ongoing efforts to reduce carbon emissions include reducing flaring at its upstream assets and incorporating solar power at its facilities for better energy efficiency, in addition to its solar energy ventures that are well established in parts of Asia,\u201d she was quoted as saying. Oil and gas firms globally are under pressure to set targets that are consistent with the Paris Agreement, the climate accord which is widely seen as important to tackle the climate crisis. In May last year, a Dutch court ruled that oil giant Shell must cut its carbon emissions by 45 percent by 2030. That is a much higher reduction than the company\u2019s earlier target of lowering its emissions by 20 percent by 2030, \u201cThere are definitely many investment opportunities in the green agenda here, as I feel the awareness is quite high,\u201d Dr Gan said. \u201cEven if most of the \u2018hardcore\u2019 research are done in the west, there would be opportunities for customization, localization and distribution in this region. In fact, perhaps it\u2019s a good time now, before such startups reach higher up on their S-curves. \u201dCommenting on where to look for opportunities within the sector, Kairous\u2019 Dr Gan said the VC firm also considers the other spillover effects in the renewable energy industry. \u201cWe don\u2019t look at this sector just from the renewable energy sources such as solar, wind, storage, hydrogen, per se, but also many of the other spillover effects. For example, disruptive technologies that encourage, enable, facilitate or distribute the use of renewable energy,\u201d he shared, adding that \u2018energy reduction\u2019 startups such as those in the reduce, reuse, recycle (circular economy), shared economy are also in focus. Dr Gan also shared the criteria he would consider when he invests in renewable energy startups. \u201cPreferably companies that have a unique and innovative solution to solving the problem at hand, which is the energy conundrum in this instance. They should also have experienced decent growth and able to scale with some growth capital. We would also evaluate how we can help this company from our regional network. Companies with longer horizons might do better with investments by private equity funds though,\u201dBolong Chew, the Co-Founder and Chief Executive Officer of Singapore-based renewable energy startup \u201cThese technologies can really shift the needle in the energy crisis and climate change, and what we really need now is to drive operations and deployment of them in a scalable manner, and I believe digitalization and business model innovation can contribute a lot,\u201d he told His company, Solar AI Technologies, provides building intelligence for rooftop solar projects. The firm combines data analytics with software to digitize and streamline the end-to-end solar process, enabling property owners to monetize their unused roof space with no money upfront. It aims to hyperscale the deployment of distributed solar and the transition towards 100 percent renewables by modernizing the way rooftop solar is sold. Solar AI Technologies, which is currently in seed stage, plans to raise about $1.5 million, he said. \u201cWe are not yet actively fundraising, but will be starting to do so in a couple months. \u201dEngieOn the challenges the startup faces, Chew said there is a lot of education and awareness that need to be driven around the benefits of renewable energy, as well as business models behind it \u2013 be it for its customers, investors and financiers or partners. \u201cWhile solar technology has been in the market for decades, the understanding of it, especially in the region, is oftentimes still rather low. This is why we are really focused on building awareness in the way we operate as a company,\u201d he said. Chew also pointed out that climate problems are typically capital intensive, and there is a significant lack of early-stage project financing in order to help startups. FinTech continues to be a hot sector in Southeast Asia after a booming 2021"}, {"url": "https://technode.global/2022/05/25/singapores-funding-societies-expands-financing-offerings-for-msmes-via-islamic-fintech-facilities/", "page": 55, "title": "Singapore\u2019s Funding Societies expands financing offerings for MSMEs  via Islamic FinTech facilities", "contents": "Funding SocietiesFunding Societies Malaysia Co-Founder and Chief Executive Officer Wong Kah Meng said in a statement that despite their encouraging business performance, MSMEs have limited access to financing and are underserved for various reasons (some of the main factors include low to zero credit track record, lack of assets to pledge, and lack of financial documents for credit assessment). \u201cThis trend was further exacerbated during COVID-19. Due to social distancing norms and limitations in meeting customers face to face, it became difficult for traditional financial institutions to provide loans to SMEs, notwithstanding stricter requirements in certain industries or products due to heightened risk,\u201d he added. He also said that during the pandemic, he observed many enterprising Malaysians have taken to digital platforms and marketspaces to start, sustain or even expand their business. \u201cThis can be seen from the increase in search traffic and number of SMEs we have onboarded through digital channels across both digital and offline economies,\u201d he added. According to the statement, MSMEs recognize the importance of utilizing FinTech and Islamic FinTech (iFintech) to gain access to capital to ensure continuous operationalization and expansion of their business activities. The introduction of Shariah-compliant financing complements Funding Societies\u2019 existing broad range of financing products to serve creditworthy SMEs of all segments, vintages, and sizes, including those operating in the Halal industry. Furthermore, iFintech is growing briskly amidst concerns of global economic slowdown following general sluggish markets and cautious consumer sentiments in the United States as well as Southeast Asian economies like Malaysia and Singapore. In 2021, the Malaysian iFinTech market was estimated to be valued at $3 billion. Malaysia is categorized as a \u201cmarket leader\u201d on the iFinTech Hubs Maturity Matrix with high growth and a high conduciveness. The country comes first on the Global Islamic FinTech (GIFT) Index. \u201cThis represents an encouraging opportunity for both SMEs and investors. The gradual pick-up in economic activities and reopened borders coupled with anticipated elevated consumer confidence would translate into a more optimistic outlook as a whole. However, we need to maintain a cautious approach as various markets have raised interest rates in an attempt to rein in inflationary pressures, risking an economic slowdown,\u201d Wong said. In ensuring compliance with Shariah principles, Funding Societies partners with Masryef Advisory, a registered Shariah advisory company with the Securities Commission as its Shariah advisor. \u201cFunding Societies took a great step to also offer Shariah-compliant products that benefit both Muslims and non-Muslims investors to invest in its platform. In addition, the underserved MSMEs can now have greater access to Islamic financing through the platform. We are proud to be part of Funding Societies\u2019 journey into Islamic financing. Funding Societies has obtained Shariah-compliant certificate from Masryef which would enable them to also offer Islamic financing solutions to the users,\u201d said Khairil Anuar Mohd Noor, Principal at Masryef Advisory. Funding Societies\u2019 Shariah-compliant trade financing solutions enable Malaysian MSMEs who have been operating for at least a year to access zero collateral financing and a credit line of up to MYR1 million ($227,531). Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia, and Thailand, registered in Malaysia, and operates in Vietnam. The FinTech startup is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which is funded by individual and institutional investors. In seven years, it has helped finance over five million business deals with over MY9.5 billion ($2.16 billion) in funding. Masryef Advisory Sdn. Bhd. is a registered Shariah Advisory firm under Securities Commission Malaysia (SC) and a partner of Malaysia Digital Economic Corporation (MDEC). The firm has been offering consultancy and advisory services to over 30 clients for the past three years standing by over than 50 years of experienced founders and consultants. Parallel to Malaysia\u2019s aspiration as a leading global Islamic finance hub, Masryef has worked together with regulators, experts in the field and industry players. Masryef as a boutique advisory firm focused on Islamic FinTech and has been partner with most of the peer to peer (P2P), equity crowdfunding platform (ECF) and buy now pay later (BNPL) players. Singapore\u2019s Funding Societies steps into Vietnam in fifth market expansion"}, {"url": "https://technode.global/2022/05/24/malaysias-cradle-funds-outgoing-ceo-rafiza-ghazali-to-lead-kaf-led-digital-islamic-bank/", "page": 55, "title": "Malaysia\u2019s Cradle Fund\u2019s outgoing CEO Rafiza Ghazali to lead KAF-led digital Islamic bank", "contents": "Malaysia-based Rafiza will initially be joining KAF Investment Bank as part of the digital bank project team pending the incorporation process of the digital bank entity, KAF Investment Bank said in a statement on Tuesday. The consortium led by KAF Investment Bank is one of the five successful applicants to win the bids for the digital banking licenses in Malaysia. The consortium will be licensed under the Islamic Financial Services Act 2013 (IFSA). \u201cWe are pleased to have Rafiza to head our digital banking leadership team given her wealth of experience in both the private and public sectors. Her extensive foundation in banking as well as her involvement in innovation, particularly with the Malaysian FinTech community, will be a huge asset in the building of KAF\u2019s digital banking partnership platform,\u201d KAF Investment Bank Deputy Chief Executive Officer Thariq Usman Ahmad said. Rafiza\u2019s experience spans significantly across the financial industry from Danaharta to RHB Investment Bank, where she oversaw information technology, investment operations, corporate planning, finance, and treasury settlement. She also served with central bank Bank Negara Malaysia, Thomson Reuters and Cagamas before her present role as Group CEO of Cradle Fund Sdn Bhd, where she was instrumental in leading its transformation into a startup ecosystem builder and the agency responsible for managing the development of the Malaysian Startup Ecosystem Roadmap, KAF said. Cradle Fund is an early-stage startups venture fund owned by the Malaysian government. Rafiza\u2019s appointment also came after Cradle Fund announced on Monday that she will step down as Group CEO and relinquish her role with effect from May 31 to pursue other opportunities. In the interim, the board has appointed Cradle\u2019s Senior Vice President of Corporate Services, Norman Matthieu Vanhaecke as Acting Group CEO, Cradle Fund said in a statement. The appointment is effective June 1 until a permanent replacement is confirmed. Rafiza has been instrumental in expanding the mandate for Cradle beyond providing grants, to it now taking a leading role as the start-up ecosystem builder via the MYStartup Strategy. During her tenure, Cradle was designated the focal point for the Malaysian Start-up Ecosystem and as the coordinating agency for the Malaysian Startup Ecosystem Roadmap 2021-2030 (SUPER). Cradle Fund is Malaysia\u2019s early stage start-up influencer, incorporated under the Ministry of Finance Malaysia in 2003 with a mandate to fund potential and high-calibre tech start-ups through its Cradle Investment Program. Cradle Fund is presently administered by Ministry of Science, Technology and Innovation (MOSTI)Malaysia\u2019s unicorn Carsome\u2019s part of KAF-led consortium winning digital bank license"}, {"url": "https://technode.global/2022/05/12/malaysian-prime-minister-too-tries-to-court-tesla-to-invest-in-the-country-report/", "page": 55, "title": "Malaysian Prime Minister too, tries to court Tesla to invest in the country \u2013 report", "contents": "Malaysia Prime Minister Ismail Sabri Yaakob has suggested US-headquartered electric vehicle maker Tesla to invest and produce electric car in the country as he presented Malaysia as a preferred investment destination, national news agency The prime minister on Wednesday (Thursday, May 12 in Malaysia) rolled out the red carpet for American investors and businessmen and welcomed them, especially the Fortune 500 companies, to invest or increase their investment, namely in economic digital, green technology and electric car sectors. \u201cI\u2019ve suggested to Tesla to invest in Malaysia in producing electric cars,\u201d he reportedly told Malaysian journalists after meeting Ambassador Ted Osius, president and chief executive officer of the US-ASEAN Business Council (US-ABC) at a hotel in Washington DC. Set up in 1984, the US-ABC represents 170 major American businesses in Southeast Asia. The prime minister is on a four-day working visit to the US, during which he would meet with President Joe Biden and ASEAN leaders. Neighbouring Indonesia has been publicly wooing Tesla to invest in the country to help develop its ambitious EV and battery industry plans. Earlier on Monday, Indonesia, the world\u2019s largest producer of nickel, seeks to accelerate the development of its nickel industry to supply batteries for EVs. A team from Tesla is visiting several sites in Indonesia, including Morowali, this week, coordinating minister for investment and maritime affairs Luhut Panjaitan told reporters in Jakarta on Monday. According to Tesla and the Indonesian government have been in talks for at least three years but no deals have been struck yet. South Korea-headquartered Hyundai Motor Group has made the early move to set up an EV plant while partnering with LG Energy Solution to build a battery plant. Founded by billionaire tech entrepreneur Elon Musk, Tesla has a manufacturing facility in Shanghai, China. Tesla has recently halted most of its production at its Shanghai plant due to problems securing parts for its EVs, according to an internal memo seen by Tesla\u2019s sales in China had also slumped by 98 percent in April from a month earlier, data released by the China Passenger Car Association (CPCA) showed on Tuesday as China imposed strict lockdowns in Shanghai. Now\u2019s the time for Tesla to roll into Singapore"}, {"url": "https://technode.global/2022/05/09/grab-said-to-be-eyeing-stake-in-malaysias-sixth-largest-banking-group-ambank-report/", "page": 55, "title": "Grab said to be eyeing stake in Malaysia\u2019s sixth largest banking group AmBank \u2013 report", "contents": "Singapore-headquartered ride-hailing and food delivery giant Grab Holdings Inc is said to be eyeing a stake in AmBank\u2019s two largest shareholders Australia and New Zealand Banking Group Ltd and the group\u2019s former chairman Azman Hashim are likely to be the sellers, the business weekly paper reported, quoting several persons familiar with the matter. ANZ has a 21.68 percent stake in AmBank while, Azman, who retired as the banking group\u2019s chairman March-end, owns 11.83 percent stake, the group\u2019s latest annual report showed. Listed on the Malaysian stock exchange, shares of AmBank closed at MYR3.64 ($0.83) on Monday, giving it a market capitalization of MYR12.06 billion ($2.75 billion). The news came after the Grab-led consortium, comprised of Grab-Singapore Telecommunications Ltd (Singtel)\u2019s digital bank joint ventures GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd, was awarded a digital banking license in Malaysia When contacted about the potential acquisition, Grab\u2019s communications team said the company \u201cwill not comment on rumors and speculation\u201d. It is not uncommon for well-funded tech firms like Grab to acquire stakes in banks. In January, Grab and Singtel have each bought a 16.3 percent stake in PT Bank Fama International from Indonesian conglomerate Elang Mahkota Teknologi Tbk (Emtek), the majority owner of the bank as they wished to pursue banking opportunities in Indonesia. Singtel and Grab were each paying 500 billion rupiah ($35 million) for their individual stakes, according to earlier media reports. Grab\u2019s rival Gojek, an Indonesia-headquartered super app, acquired a 22 percent stake in Indonesia-based Bank Jago in December 2020. Later in November 2021, Bank Jago partnered GoPay, Gojek\u2019s FinTech arm, to offer digital banking services via Gojek super app. Grab made its debut on the Nasdaq in December last year, following a $40 billion merger with a special purpose acquisition company (SPAC). The listing on Nasdaq is expected to provide up to approximately $4.5 billion in cash proceeds to Grab. The company later announced plans to acquire Grab-led digibank consortium to focus on local micro-SMEs, gig economy workers"}, {"url": "https://technode.global/2022/05/09/malaysia-has-no-plans-for-more-digital-banking-licenses-report/", "page": 55, "title": "Malaysia has no plans for more digital banking licenses \u2013 report", "contents": "Malaysia has no plans to issue more digital banking licenses, according to \u201cAt this point, we have no plans to issue any more licenses than the five announced,\u201d she told national news agency In deciding to award five licenses, Nor Shamsiah said the central bank considered many factors, such as the size of the country\u2019s banking system relative to the economy. \u201cThis isn\u2019t a case of \u2018the more the merrier!\u2019\u201d she added. The governor also said it is important to also recall back the situation in the 1990s, where the country had a large number of domestic banks, but many of which did not have the financial strength, size, and scale to operate viably or compete effectively. \u201cClearly, Malaysians were not better served by the higher number of banks. We should also not forget about the Asian financial crisis where our economy suffered its deepest-ever recession because of some of these weak banks failing \u2013 with the cost borne by taxpayers,\u201d she warned. Nor Shamsiah was responding to a question on why is Bank Negara only offering five licenses and will more licenses be issued in the future. Malaysia is joining Hong Kong, Singapore, and the Philippines to issue digital banking licenses, in a bid to embrace online-only banking services. Neighboring Thailand is also preparing rules for setting up of virtual banks, Singapore has issued four digital bank licenses in December 2020. Hong Kong has issued eight such licenses while the BANGKO SENTRAL ng Pilipinas (BSP) has capped the number of digital banking licenses to six in the Philippines. Malaysia, a country of 32.4 million people, is a middle-income market with Gross Domestic Product (GDP) per capita of $27,913 according to the World Bank. It is a well-digitized society with about 105 percent smartphone penetration in 2020, according to GlobalData estimates, Maybank Investment Bank wrote in a note. GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2022/05/06/malaysias-unicorn-carsomes-part-of-kaf-led-consortium-winning-digital-bank-license/", "page": 55, "title": "Malaysia\u2019s unicorn Carsome\u2019s part of KAF-led consortium winning digital bank license", "contents": "Southeast Asian used car marketplace \u201cYes, we are excited to confirm that Carsome is part of the consortium led by KAF Investment Bank which has received one of the first digital bank licenses in Malaysia granted by Bank Negara Malaysia (BNM),\u201d Carsome investors\u2019 relations team told The consortium led by KAF Investment Bank is one of the five successful applicants to win the bids for the digital banking licenses in Malaysia. The consortium will be licensed under the Islamic Financial Services Act 2013 (IFSA). \u201cFinancial Inclusion is an important enabler of our customer experience and Carsome\u2019s success. With the support and guidance from Bank Negara, we will continue to explore potential partnership and participation opportunities within the consortium to democratize financial access in Malaysia, by leveraging our technology, data and network, as the region\u2019s largest car e-commerce platform,\u201d the IR team wrote in an email. Carsome, however, declined to comment on the stake the company will own in the digital bank. The news also came as Carsome is said to be filing for Carsome has been actively acquiring car-related businesses over the past few months. In January, Carsome completed its $290 million Series E round, increasing the company\u2019s valuation to approximately $1.7 billion. The financing round was jointly led by Qatar Investment Authority, 65 Equity Partners and Seatown Private Capital Master Fund (Seatown). The round also saw participation from Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome emerged as Malaysia\u2019s first tech unicorn in a share-swap deal that take a stake in iCar Asia July last year. Meanwhile, KAF Investment Bank said in a Linkedin post that the consortium it led is fully 100 percent Malaysian, and consists of household names such as Carsome, MoneyMatch and Jirnexu. Established in 1975, KAF Investment Bank group and its affiliates are a diversified Malaysian financial services group serving customers in both Shariah and Conventional fixed income and money markets, investment banking, stockbroking, funds management, unit trusts and trustee services.  KAF Investment Bank-led consortium was among the low-profile bidders for the digital banking licenses. Besides Carsome, the KAF Investment Bank-led consortium also includes two other FinTech firms, Jirnexu and MoneyMatch. Malaysia FinTech firm Digital remittance platform MoneyMatch is another graduate of the Fintech Regulatory Sandbox operating in the international payment space, operating on a fully digital platform to provide remittance services for individuals and businesses with a global reach of over 82 countries in more than 40 currencies. MoneyMatch is launching its Series B fundraising round following the recent successful digital banking license application, local media MoneyMatchGRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2022/05/05/malaysias-unicorn-carsome-acquires-wapcar-autofun-businesses/", "page": 56, "title": "Malaysia\u2019s unicorn Carsome acquires WapCar & AutoFun Businesses", "contents": "Southeast Asia\u2019s used car e-commerce platform Upon the completion of the acquisition, Carsome set up WapCar AutoFun Sdn Bhd (WapCar), as a fully-owned subsidiary of the Carsome group in Malaysia. Carsome Co-founder and Group CEO Eric Cheng said that WapCar has built a strong automotive content strategy in Southeast Asia, liked by a large and engaging customer base. The partnership will enable Carsome to capture and serve customers from their early stage of car exploration and bring a more engaging and fun experience to the car transaction and ownership journey. \u201cWe believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together,\u201d Cheng said in a statement. WapCar established its first flagship brands, WapCar and AutoFun in 2019. Today, it operates a number of automotive content websites and social media channels across Malaysia, Indonesia, Thailand, Philippines, and Vietnam. WapCar provides a full range of content which covers car exploration, transaction, and ownership experiences, using industry-leading technology to help customers in Southeast Asia find their perfect car and immerse themselves in all things related to automotive. The platform also produces, distributes, and manages highly-engaging Professionally Generated Content (PGC) and User Generated Content (UGC) at scale. In 2021, the platform distributed on average more than 1,400 article write-ups and 100 videos on a monthly basis across YouTube and TikTok channels, which attract millions of customers across the region. As of last quarter of 2021, WapCar had become one of the most visited auto content platforms with over 6 million average Monthly Active Users (MAU). \u201cWe are excited to work with Carsome to collectively provide a smooth car buying and selling experience to millions of WapCar users on our platform across the region, as well as an end-to-end solution in their car transaction and ownership journey,\u201d WapCar General Manager Sting Peng said. Carsome said the acquisition is an important move that further strengthens Carsome\u2019s market leadership in the region, and reinforces its commitment to drive ecosystem expansion. The acquisition also comes after the company\u2019s acquisition of a majority stake in Last month, Carsome is also part of the KAF Investment Bank-led consortium which was recently awarded a digital banking license in Malaysia. Malaysia\u2019s Carsome to list on NASDAQ at $2B valuation \u2013 report"}, {"url": "https://technode.global/2022/05/05/lottiefiles-raises-37m-series-b-funding-led-by-square-peg-capital/", "page": 56, "title": "LottieFiles raises $37M Series B funding led by Square Peg Capital", "contents": "US and Malaysia-based motion graphics platform LottieFiles said it will use the funding to further its product roadmap and expand its operations to cater to the expanding user base. The company plans to launch a new design workflow and collaboration solution to its global user base in summer 2022, which will enable designers to save more than 15 hours per asset shipped and give users 80 percent more time to focus on creativity. \u201cOur mission is to democratize motion design and graphics animation and make it accessible to all,\u201d said LottieFiles\u2019 Chief Executive Officer and Co-Founder Kshitij Minglani. \u201cLottieFiles completely transforms the creation and design workflow process, which empowers every designer and their teams to leverage the power of motion to create delightful user experiences. The LottieFiles team spent the last three years studying and perfecting a blueprint that now works for design and developer teams from more than 135,000 companies. \u201dLottieFiles previously raised $9 million in Series A funding in January 2021, led by Microsoft Venture Fund M12, and  has experienced 160 percent growth in net new registered users since that time. The Series A financing enabled the company to acquire a design asset library, expand its operations and team to more than 100 employees worldwide, and create even wider adoption of Lottie with an expanded user base. \u201cLottieFiles plays into the theme that the future of design is in motion as digital engagement increasingly revolves around interactivity. We have been impressed with the fast-growing LottieFiles community all over the world from the biggest tech companies to individual designers,\u201d said Piruze Sabuncu, Partner at Square Peg Capital. According to LottieFlies, the majority of today\u2019s most-downloaded apps, popular websites and platforms now use the open-source vector-based file format, Lottie. Lottie is a JSON animation file format that enables designers to ship animations on any platform as easily as shipping static assets. Lotties are also small files that work on any device and can scale up or down without pixelation \u2014 allowing designers to create app onboarding and in-app animations, reactions, infographics, social media assets, animated icons, stickers, gaming assets and more. The LottieFiles. com website currently counts users from more than 135,000 companies globally, including animation designers and motion designers from Google, TikTok, Disney, Uber, Airbnb and Netflix. Based in San Francisco with additional offices in Seoul and Kuala Lumpur, LottieFiles is a privately held company backed by Square Peg Capital, XYZ Venture Capital, GreatPoint Ventures, 500 Startups and M12, Microsoft\u2019s Venture Fund. Malaysia\u2019s financial platform Payd raises $1.7M in seed funding led by IFS Capital"}, {"url": "https://technode.global/2022/04/29/grab-led-digibank-consortium-to-enable-local-micro-smes-and-other-financially-underserved-segments/", "page": 56, "title": "Grab-led digibank consortium to focus on local micro-SMEs, gig economy workers", "contents": "Grab Holdings LimitedGrab said in a statement that SMEs are expected to be key beneficiaries of digital banking, highlighting the segment forms the backbone of the Malaysian economy \u2013 representing over 97 percent of overall business establishments, contributing approximately 38 percent of national gross domestic product (GDP), and employing nearly half of the working population. Subject to regulatory approvals, it said the digital bank joint venture will hold a 55.45 percent stake in the proposed Malaysia digital bank, which will be led by Pei Si Lai, a financial services industry veteran with over 25 years of experience. According to the statement, Lai has been appointed its Chief Executive Officer designate and will form a dedicated team that aims to redefine banking for the estimated one in two Malaysians who are underserved or unbanked. To build the Malaysia digital bank that will seek to offer seamless and secure financial services customised to meet consumer needs, it said Lai will assemble a team with diverse backgrounds in finance and technology. Over 200 roles are targeted to be filled by launch, including in the areas of product and design, data, technology, risk, and compliance, it added. \u201cThe Malaysia digital bank consortium is honoured to be given the opportunity to build a next-generation digital bank and drive access to financial services for underbanked Malaysians. We are thankful to Bank Negara Malaysia (BNM) for their trust in us,\u201cWe will leverage the consortium\u2019s combined strengths, including our technology expertise, data from highly-engaged consumers using everyday services, experience providing financial services across Southeast Asia, and deep understanding of the Malaysian market, to redefine the banking experience for underbanked Malaysians and improve their economic outcomes \u2013 small businesses will have access to growth capital, and individuals the opportunity to dream bigger,\u201d said Reuben Lai, Senior Managing Director, Grab Financial Group (Digibank) and board member of the regional digibank joint venture. Meanwhile, Singtel\u2019s Group Chief Financial Officer and board member of the regional digibank joint venture Arthur Lang said he is glad to have this opportunity to support Malaysia\u2019s vision of greater financial inclusion for its people. \u201cOur consortium partners and ourselves are excited to build a platform that will provide innovative digital banking services for the underbanked as well as the SMEs that are the backbone of the Malaysian economy. This aligns closely with our goal of harnessing technology to empower people across the region, bringing greater options and positive change as we build something special across the region. We aim to spur fintech innovation that will transform the banking experience, making financial services more accessible, relevant and affordable,\u201d he said. As Chief Executive Officer designate of the Malaysian digital bank, Pei Si Lai brings extensive experience and deep customer centricity honed over 25 years in retail banking, wealth management, corporate finance, product and business management, as well as governance, in both local and international markets. Prior to her current role, she was Managing Director and Country Head, Consumer, Private and Business Banking for Standard Chartered in Malaysia. \u201cThe opportunity to build the Malaysian digital bank from the ground up and be at the forefront of the fast-evolving Malaysian FinTech landscape is incredibly exciting. Aside from leveraging agile banking technology that will enable us to offer tailored and unique banking experiences for our consumers, my team and I will also tap on the strong support from our shareholders and strategic partners, as well as guidance from Bank Negara Malaysia and the Ministry of Finance, to deliver on our mission to serve and empower underbanked Malaysian communities such as gig workers and small businesses. We will also actively partner with leading industry players to advance the Malaysian financial landscape,\u201d said Pei Si Lai. Moving forward, Grab said the Malaysia digital bank consortium will work closely with BNM to meet all of its requirements in order to be awarded the Malaysia digital bank licence. The digital bank joint venture between Grab and Singtel was formed in 2020 and selected to be awarded a full digital banking licence in Singapore. The consortium of GXS Bank and Kuok Brothers was one of the five successful applicants that has been selected to receive a full digital banking licence in Malaysia, subject to meeting all of BNM\u2019s regulatory conditions. GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit\u2019s consortiums among winners of Malaysia digital banking licenses"}, {"url": "https://technode.global/2022/04/29/grab-singtel-axiatas-boost-rhb-sea-ltd-ytl-aeon-credits-consortiums-among-winners-of-malaysia-digital-banking-licenses/", "page": 56, "title": "GRAB-Singtel, Axiata\u2019s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses", "contents": "Bank Negara Malaysia According to the cenral bank, the following applicants are to be licensed under the Financial Services Act 2013 (FSA):The following applicants are to be licensed under the Islamic Financial Services Act 2013 (IFSA):Three out of the five consortiums are majority-owned by Malaysians namely Boost Holdings (a unit under telco Axiata Group) and RHB Bank Bhd, Sea Ltd (Singapore-headquartered e-commerce firm) and YTL Digital Capital Sdn. Bhd. and KAF Investment Bank Sdn. Bhd. \u201cDigital banks are expected to further advance financial inclusion. By adopting digital technology more widely for everyday transactions, we can significantly increase opportunities for our society to participate in the economy \u2013 by overcoming geographical barriers, reducing transaction costs and promoting better financial management,\u201d Bank Negara Malaysia Governor Nor Shamsiah said in the statement. \u201cDigital banks can help individuals and businesses gain better access to more personalized solutions backed by data analytics. As businesses move online, digital banking also provides a safer and a more convenient way to transact,\u201d she added. According to Bank Negara, all 29 applications received were thoroughly assessed pursuant to section 10 (1) of FSA, and IFSA, which require Bank Negara to consider all the factors in Schedule 5 of the Acts and other relevant policy requirements. The assessment criteria cover the character and integrity of applicants, nature, and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address financial inclusion gaps. \u201cApplications were assessed on their individual merits, as well as relative to other applications based on consistent evaluations of each assessment criteria. This horizontal review is based on the assessment criteria applied across all applicants to determine the relative strength of each application and identify successful applicants, the central bank said. Throughout the assessment process, Bank Negara said it instituted strict governance and evaluation procedures to ensure robust, objective and consistent assessments across all 29 applications received. Four levels of assessment were carried out, supported by a cross-functional technical team, a review team and internal independent observers from Bank Negara\u2019s risk and legal departments. The final recommendations to the Minister were deliberated and endorsed by the central bank\u2019s Management Committee. Following this announcement, the successful applicants will undergo a period of operational readiness that will be validated by Bank Negara through an audit before they can commence operations. This process may take between 12 to 24 months. In line with the 5 strategic thrusts stated in the Financial Sector Blueprint 2022-2026, BNM will continue to work with the financial and fintech industries and relevant stakeholders to continuously enhance access to financial services throughout the country and across all segments of society. Bank Negara announced in July it has received 29 applications for digital banking licenses. A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. Notable applicants that have officially announced their applications include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, Capital A\u2019s (previously AirAsia Group) BigPay-MIDF-Ikhlas Capital consortium, and AEON Credit Service (M) Bhd, among others. Malaysia will be joining Hong Kong, Singapore, and the Philippines to issue digital banking licenses in recent years. Neighboring Thailand is also preparing rules of setting up virtual banks, Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses"}, {"url": "https://technode.global/2022/04/29/malaysia-to-announce-digital-bank-licenses-winners-as-early-as-friday-report/", "page": 56, "title": "Malaysia to announce digital banking license winners as early as Friday \u2013 report", "contents": "Bank Negara Malaysia is expected to announce the successful applicants for its digital bank licenses on Friday (Apr 29), local mediaThe central bank later told local media that it would be announcing the winners \u201cupon completion of the legal process\u201d. Bank Negara did not immediately respond to Bank Negara announced A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. Notable applicants that have officially announced their applications include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, Capital A\u2019s (previously AirAsia Group) BigPay-MIDF-Ikhlas Capital consortium, and AEON Credit Service (M) Bhd, among others. Analysts previously told Frontrunners were said to include the Malaysia will be joining Hong Kong, Singapore, and the Philippines to issue digital banking licenses in recent years. Neighboring Thailand is also preparing rules of setting up virtual banks, Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses"}, {"url": "https://technode.global/2022/04/29/malaysias-e-commerce-platform-shoppymore-eyes-10-times-more-sellers-regional-expansion/", "page": 56, "title": "Malaysia\u2019s e-commerce platform Shoppymore eyes 10 times more sellers & regional expansion", "contents": "Malaysia\u2019s newest e-commerce website \u201cWhat we have is a comprehensive and thorough mechanism with a three-fold objective; one, we look for vendors who are ethical and trustworthy, two, we ensure and verify that the products on Shoppymore are genuine, authentic and of good quality, and three, we have an extensive customer and vendor support system to solve problems, educate and assist,\u201d says Shoppymore Founder and Group Chief Executive Officer Barani Karuna Karan said in a statement on Thursday. Shoppymore was introduced to the Malaysian online marketplace in 2021. The platform closed 2021 with 100 sellers, a figure the company aims to increase to 1,000 this year (2022) with a revenue of MYR10 million. \u201cPlans are also in the pipeline to expand to India, Indonesia and the Philippines to introduce Malaysian-made products in cross border commerce and to take the Shoppymore brand values to a wider market,\u201d he said. He added that Shoppymore\u2019s intent is not to accumulate large numbers of sellers, but to ensure that the platform is recognized as a world-class marketplace such as Amazon, Flipkart and eBay. The company also focus on supporting micro-entrepreneurs, the local and made in Malaysia products with \u2018halal\u2019 and rural-based industry. Shoppymore currently hosts over 100 Sellers, including brands such as Destina 1 International Sdn Bhd, Singer Malaysia, Viqmax, Adway Malaysia, Asia IT component. aLL- the plus-size store, Faerahijab, Groway (Solaray), Harenet Marketing, HajiWan (Richness Foods Industry), Stretch Film, Three R Florist, BENS PHARMACARE GROUP, Vilvam Vision, Tree Leaf Trading and etc. It welcomes 500 \u2013 1,000 visitors each day with transactions valued at an estimated MYR50,000. \u201cWe have worked out a \u2018win-win\u201d situation benefiting sellers and buyers with a complete e-marketstreet ecosystem towards our goal of creating a made-in-Malaysia online shopping platform that is on par with world class players,\u201d Barani says. The main e-commerce players in Malaysia include Alibaba\u2019s Southeast Asian arm Indonesian Bukalapak 1Q revenue surges 86 percent to $54.39M on higher Mitra Bukalapak contribution"}, {"url": "https://technode.global/2022/04/27/malaysias-financial-platform-payd-raises-1-7m-in-seed-funding-led-by-ifs-capital/", "page": 56, "title": "Malaysia\u2019s financial platform Payd raises $1.7M in seed funding led by IFS Capital", "contents": "Malaysia-based financial wellbeing platform The round was led by IFS Capital, with participation from 1982 Ventures and The Hive Southeast Asia, a recipient of the Dana Penjana Nasional program, the company said in a statement.   \u201cIn the long run, we hope to be a platform that eases the financial worries of the Malaysian workforce, helping build a better engagement between employers and employees,\u201d Payd Co-founder and Chief Executive Officer Justin Kong said. Payd aims to build the largest mobile financial wellbeing platform for employees, all over Southeast Asia. Towards this end it will be deploying its funds towards brand building, team expansion to accelerate product development, as well as to launch more innovative products and services in the coming months. High net worth angel investors also participated in the funding round. To date, Payd has garnered over 20,000 employee sign-ups, and has witnessed an increase in enrollment rates of up to 25 percent. This mirrors the consistent success of the brand since its inception, Payd has been experiencing a growth of 120 to 180 percent month-on-month since July 2021, as more Malaysian businesses are now choosing to provide EWA benefits to their employees. Founded in 2020, Payd is a rising comprehensive earned wage access (EWA) solution provider. Through this B2B2C platform, employers can now seamlessly offer their employees the freedom to choose when to receive the money that they have earned, thus increasing engagement in the workplace, resulting in higher retention rates and improved financial literacy. Utilizing a framework that is easily integrated with any organisation\u2019s Human Resource (HR) and payroll system, employees will now be able to access up to 50 percent of their income whenever they need it. Companies that are currently partnering with Payd include, Malaysia\u2019s iPrice Group raises $5M from Itochu Corporation and KDDI Corporation"}, {"url": "https://technode.global/2022/04/25/al-rajhi-bank-malaysia-selects-singapores-moneythor-as-a-strategic-partner-for-personal-finance-management-features/", "page": 56, "title": "Al Rajhi Bank Malaysia selects Singapore\u2019s Moneythor as a strategic partner for personal finance management features", "contents": "Al Rajhi Bank Malaysia (ARBM)This partnership is in line with ARBM\u2019s ambition to become the number one Islamic innovation bank in Malaysia, ARBM said in a statement. Having committed to a digital transformation in 2021, ARBM is focused on providing customers an all-encompassing Islamic banking solution. The bank will deploy Moneythor\u2019s PFM features to deliver rich in-app functionality and power highly personalised experiences for their customers. The Moneythor solution is powered by real-time data, coupled with machine learning and behavioural science techniques to provide data-driven personalisation capabilities for digital financial management. This will allow ARBM to lean into its customer centric values and strengthen its digital engagement capabilities whilst reinforcing its position as a leader in Islamic banking. As Al Rajhi Bank Malaysia builds out a full spectrum of Shariah-compliant products, the Moneythor solution will enable ARBM to respond to the requirements and needs of consumers and allow them to deliver a market-leading digital proposition at the same time. \u201cThe partnership with Moneythor will give ARBM a competitive edge in launching a state-of-the-art digital banking capabilities, which will be differentiated through innovation, customer experience and reliability, \u201cTo seize the opportunities in both digital bank and Islamic finance, we have tapped into various innovative partners and proven solutions, and we are pleased to count Moneythor as one of them to power the personalised money management features of our upcoming digital bank services,\u201d said Arsalaan Ahmed, Chief Executive Officer, Al Rajhi Bank Malaysia. Following its official launch in 2007, ARBM became the first Arab bank to start its operation in South East Asia, as part of a Shariah compliant banking group that is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development. The bank continuously endeavours to expand its suite of products and services to meet the financial needs of its customers, delivering innovative Shariah compliant financial solutions across retail, corporate, treasury and investment segments. Today, it operates through a distribution network of 13 branches nationwide. \u201cWe are thrilled to be a partner of Al Rajhi Bank Malaysia\u2019s new digital bank. We look forward to delivering personalised customer-first digital banking experiences for the bank\u2019s users with best-in-class PFM features and financial wellbeing services. We are excited to collaborate with such a forward-looking financial institution and to bring those innovative Islamic finance capabilities to life for consumers in Malaysia,\u201d said Olivier Berthier, Chief Executive Officer of Moneythor. Moneythor is a software company providing financial institutions with a modern toolkit to enhance their digital services, with money management features powered by actionable insights and data driven personalised recommendations enhanced with open banking. The solution is a fully configurable platform and scalable orchestration engine that sits between data sources and customer channels to deliver highly personalised and engaging customer experiences in real-time. Singapore\u2019s OCBC Bank partners Digital Exchange MVGX to develop new green financing solutions"}, {"url": "https://technode.global/2022/04/25/malaysias-petronas-aerodyne-to-collaborate-on-deployment-commercialization-of-drone-based-solutions/", "page": 56, "title": "Malaysia\u2019s Petronas, Aerodyne to collaborate on deployment & commercialization of drone-based solutions", "contents": "Malaysia state energy firm The collaboration is set to elevate the adoption of drone-based technology in the energy industry and beyond to drive operational optimization while reducing carbon footprint and improving worksite safety, Petronas said in a statement on Monday. It is also part of Petronas\u2019 efforts to enable remote and autonomous operations through the expansion of robotics and digitalization, Petronas added.  A Memorandum of Collaboration (MoC) was signed on Apr 21 between the two parties. \u201cPetronas believes the partnership with Aerodyne is testimony to the shared vision of both organizations to propel Malaysia to the forefront of drone technology solutions in the world,\u201d Petronas President and Group Chief Executive Officer Tengku Muhammad Taufik said in his speech. \u201cWith Petronas\u2019 in-house technologies and Aerodyne\u2019s expertise, we look forward to the exciting potential drone-based technology will bring to the energy industry as well as other sectors, particularly in improving safety and reducing carbon footprint at worksites. \u201d  According to Petronas, the importance of drone-based technology is \u201cexemplified by the establishment of the Petronas Drone Center to facilitate deployment\u201d. Petronas has successfully demonstrated inter-platform delivery for payloads of 5kg within a 5km distance, the company added. Through this collaboration, both parties will also jointly explore technical and economic viability of drone solutions with higher payloads and longer distance to increase logistics efficiency and speed, Petronas said. In addition to a joint deep dive into innovative drone-based solutions for technology deployment and commercialization, both companies will also look into technology enhancement, human capital development, the establishment of related regulations and standards, as well as push to liberalize the usage of drone services in Malaysian industries. \u201cPooling our expertise and resources to develop unique and creative solutions for today\u2019s challenges in the O&G sector is an exciting approach and will enable both parties to tap into opportunities in Malaysia and beyond,\u201d Aerodyne Founder and Group Chief Executive Officer Kamarul A. Muhamed added. Aerodyne is ranked number one in the remote-sensing drone service provider rankings in 2021, according to drone market research firm Drone Industry Insights. In an interview with Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]"}, {"url": "https://technode.global/2022/04/21/malaysias-carsome-to-list-on-nasdaq-at-2b-valuation-report/", "page": 56, "title": "Malaysia\u2019s Carsome to list on NASDAQ at $2B valuation \u2013 report", "contents": "Southeast Asian used car marketplace Carsome, which is also Malaysia\u2019s first tech unicorn, is said to have confidentially filed for the IPO with NASDAQ. Carsome is also considering a dual listing at the Singapore Stock Exchange (SGX) too, a move that is said to have been encouraged by one of its key investors Temasek-backed 65 Equity Partners, according to the report. Carsome has yet to respond to Carsome will be joining Singapore-headquartered superapp Grab to list on NASDAQ. Other tech unicorns in the region such as GoTo, Bukalapak and PropertyGuru have gone public in the US or the local stock market. The IPO news also came after Carsome announced In JanuaryCarsome has become Malaysia\u2019s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is \u201ctrusted, convenient and efficient\u201d. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia\u2019s OLX Auto and Carousell Auto Group. Malaysia unicorn Carsome raises $290M in Series E financing"}, {"url": "https://technode.global/2022/04/18/sunway-ilabs-carsome-to-launch-malaysias-first-auto-ecosystem-accelerator/", "page": 57, "title": "Sunway iLabs, Carsome to launch Malaysia\u2019s first auto ecosystem accelerator", "contents": "Sunway Innovation Labs (iLabs)Launching in the third quarter of 2022, the so-called The program will provide a holistic platform for startups in the auto ecosystem to scale by providing mentorship, opportunities for funding and access to partnership opportunities through Sunway and Carsome\u2019s network of entrepreneurs, venture capitalists, corporates and industry experts. \u201cWe are truly excited over this partnership with Sunway iLabs, as this is the first-of-its-kind accelerator in the Southeast Asian region to identify, partner and scale innovative start-ups,\u201d Carsome Co-founder and Chief Executive Officer Eric Cheng said. Selected startups will be offered the opportunity to connect with Sunway\u2019s 13 business divisions and Sunway City Kuala Lumpur\u2019s ecosystem as well as the group\u2019s funding funnel and ecosystem comprising Orbit Malaysia, SunSEA Capital, Gobi Partners and The HIVE SEA for further funding and investment opportunities. This is in line with Sunway\u2019s vision to position Sunway City Kuala Lumpur as a living laboratory bringing in experts to generate sustainable, real-world solutions for the future urban spaces towards the betterment of our environment and humankind. \u201cWe are really pleased to see how our partnership with Carsome has grown into a broad-spectrum innovation platform covering R&D, tech talent development, and now also a startup accelerator program,\u201d Sunway Group Chief Innovation Officer and Director of Sunway iLabs Matt van Leeuwen said. \u201cSunway Group has invested over MYR200 million ($47 million) in startups and venture building over the last few years and we remain committed to equipping and enabling businesses in developing greater local innovations as part of our commitment to nation-building and advancing the 17 United Nations Sustainable Development Goals,\u201d Sunway Group CEO of Digital and Strategic Investment Evan Cheah said. Launched in 2017, SunwayiLabsaims to foster entrepreneurship and stimulate market-driven innovations, to help entrepreneurs become more competitive in this rapidly changing environment. It is structured as a unique, non-profit, smart partnership between Sunway Group, Sunway Ventures/SunSeaCapital, the corporate venture arm of the group and Sunway University. Carsome becomes Malaysia\u2019s first tech unicorn last year. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. In March, Carsome announced the Malaysia\u2019s Carsome acquires majority stake in Singapore integrated automotive firm CarTimes Automobile"}, {"url": "https://technode.global/2022/04/14/ey-global-ipo-market-sees-significant-slowdown-in-q1-malaysias-exchanges-lead-by-proceeds-in-asean/", "page": 57, "title": "EY: Global IPO market sees significant slowdown in Q1; Malaysia\u2019s exchanges lead by proceeds in Asean", "contents": "After record-high levels of global IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022, according to The year started off strongly, continuing the momentum of Q4 2021, with January producing the strongest opening month in 21 years by proceeds. However, by the second half of the quarter, worldwide stock market declines shifted the trajectory dramatically in the opposite direction, resulting in a significant drop in overall activity. For Q1 2022, the global IPO market saw 321 deals raising $54.4 billion in proceeds, a decrease of 37 percent and 51 percent year-on-year (y-o-y), respectively. The sudden reversal can be attributed to a range of issues, both emerging and residual. These include the rise in geopolitical tensions; stock market volatility; price correction in over-valued stocks from recent IPOs; growing concerns about a rise in the commodity and energy prices; impact of inflation and potential interest rate hikes; as well as the COVID-19 pandemic risk continuing to hold back a full global economic recovery. In line with the sharp decline in global IPO activity there was a considerable fall in cross-border, unicorn, mega (proceeds above $1 billion) and SPAC IPOs. There were also a number of IPO launches postponed due to market uncertainty and instability, according to EY. IPO activity in the Americas region completed 37 deals in Q1 2022 raising $2.4b in proceeds, a decline of 72 percent in the number of deals and a 95 percent fall in proceeds YOY. The Asia-Pacific region recorded 188 IPOs raising $42.7 billion in proceeds, a decline y-o-y of 16 percent for volume, but an increase of 18 percent in proceeds. EMEIA market IPO activity in Q1 2022 reported 96 deals and raised $9.3b in proceeds, a decline y-o-y of 38 percent and 68 percent, respectively. \u201cWhile markets continue to be volatile, and uncertainties on economic recovery remain for reasons including continuing concerns around COVID-19, there is a risk that IPO activity will continue to slow further with IPO candidates choosing to postpone their transactions. Companies need to be well prepared to access the market when the window opens, likely for a shorter timeframe, and include a careful review of business models and preparation of alternative fund-raising plans,\u201d Paul Go, EY Global IPO Leader said. The Asia-Pacific region started the year strongly with an 18 percent rise in proceeds y-o-y, despite a 16 percent decline by deal numbers in Q1 2022. Four of the seven mega IPOs in Q1 2022 globally were listed in this region, including two of Q1\u2019s largest IPOs by proceeds. The region saw 188 IPOs raising $42.7 billion in proceeds, surpassing Q1 2021 which had raised the highest Q1 proceeds in 21 years. In terms of sector activity, industrials led by volume (40 IPOs, $3.3b), followed by materials (37 IPOs, US$5.3b), while energy and telecommunications led by proceeds ($11.2 billion via 8 IPOs and $8.5 billion via 3 IPOs, respectively). Greater China saw a 28 percent decline in deals (97) and a modest 2 percent rise in proceeds (which raised $30.1b) y-o-y. Hong Kong saw notably slower IPO activity due to recent market volatility, a severe outbreak of Omicron cases and a relatively bigger fall in the local stock market indices. While Mainland China also saw a small decline in deal numbers, proceeds rose YOY due to hosting three of the seven mega IPOs in Q1 2022. After the largest number of IPOs seen in 2021, Japan\u2019s IPO activity slowed in Q1 2022, with a number of small-cap IPOs coming to the market. Overall Japan saw 15 IPOs raise $0.2 billion in total proceeds. Asean\u2019s exchanges saw a 32 percent increase in deal numbers (29 IPOs in Q1 2022, up from 22 IPOs in Q1 2021), but a 57 percent decline in proceeds ($1 billion in Q1 2022, down from $2.4 billion in Q1 2021). The notable decline in proceeds was due to the lack of a mega IPO being posted in Q1 2022, compared to 1 mega IPO a year ago. During this quarter, Indonesia\u2019s IDX was most active by deal numbers (12 IPOs raising $219 million), while Malaysia\u2019s exchanges led by proceeds ($362 million via 5 IPOs). In other Asean exchanges, Thailand\u2019s exchanges saw 5 IPOs raising $228 million, the Philippines Stock Exchange had 4 IPOs raising $201 million while Singapore\u2019s Catalist welcomed 3 IPOs raising $17 million. IPO activity in the Americas region weakened this quarter in comparison to the record-breaking Q1 2021, with deals down 72 percent (37 IPOs) and proceeds falling by 95 percent ($2.4 billion). Health and life sciences led the number of deals while a single large deal drove financials to lead by proceeds. In the Americas, the materials sector followed by number of deals, driven solely by the smaller Canadian exchanges (CSE and TSX-V), while health and life sciences ranked second by proceeds. The pace of SPAC IPOs and mergers slowed amid challenging market conditions. Activity is expected to pick up as the year progresses because more than a quarter of the 600+ active SPACs expire later this year and more than 60% expire in the first half of 2023. Recent elevated market volatility from geopolitical tensions unsurprisingly impacted Europe, the Middle East, India, and Africa (EMEIA) equity markets and subsequent corporate activity. Many IPO candidates in the region postponed their IPOs until a clearer picture emerges on the economic outlook. Overall EMEIA saw 96 IPOs, a decline of 38 percent y-o-y, proceeds raised were $9.3 billion, a 68 percent decline y-o-y. On a more positive note, the global financial markets remain open and functioning despite the continued uncertainty. In the first quarter of 2022, Europe accounted for 15 percent of global IPO deals and only 5 percent by proceeds. Two European exchanges were among the top 12 exchanges by deal numbers and by proceeds raised. Deal numbers in Europe were 47 with proceeds of $2.7 billion raised. In the UK, the slower pace of IPO activity was due to a dip in investor confidence from Q4 2021 that carried into 2022. Q1 2022 saw eight IPOs in the UK with total proceeds of $113 million, a y-o-y decline of 60 percent by deal number and a dramatic 99 percent fall by proceeds. The first quarter saw some slight shifts in sector performance partly due to the changing economic environment and market conditions, according to EY. Both the technology and materials sectors led by number of IPOs with 58 each, raising $9.9 billion and $5.9 billion, respectively. This was followed by industrials (57 IPOs raising US$5b). Technology continued its dominance by deal numbers for the seventh consecutive quarter (since Q3 2020) but ranked second by proceeds \u2013 breaking a streak of seven consecutive quarters raising the highest IPO proceeds since Q2 2020. In Q1 2022, energy took the lead in terms of proceeds ($12.2 billion via 15 IPOs), driven by Q1\u2019s largest IPO on the Korea Exchange, while telecommunications came third ($8.6 billion via six IPOs) due to Q1\u2019s second-largest IPO on the Shanghai Stock Exchange. EY: Asia-Pacific M&A hit highest value on record, fuelled by technological innovation & ESG agendas"}, {"url": "https://technode.global/2022/04/13/malaysia-marketing-tech-firm-involve-asia-expands-to-vietnam/", "page": 57, "title": "Malaysia marketing tech firm Involve Asia expands to Vietnam", "contents": "Malaysia-based marketing technology (MarTech) platform The company said it has generated over US$1.4 billion in sales for its brands, with over $46 million paid out to its publishing and other partners. \u201cVietnam is an important market for Involve Asia as it is one of the fastest-growing economies in Southeast Asia with a vibrant and technologically savvy population. With an e-commerce market in the country that is accelerating rapidly and high social media usage, it presents a ripe opportunity for us to help brands in the country reach their customers through our proprietary MarTech solution in a cost-efficient manner, and ultimately scale their business through partnerships with influencers, apps and affiliate sites,\u201d Involve Asia Chief Executive Officer and Founder Jimmy How said in a statement on Wednesday. According to the e-Conomy SEA 2021 report by Google, Temasek and Bain, the e-commerce market in Vietnam is estimated to increase by 32 percent within 5 years to reach $39 billion in 2025. In addition, 78.7 percent of internet users have made an online purchase in 2021 based on a study conducted by We Are Social. The accelerated pace of e-commerce adoption has pushed merchants in Vietnam to go digital in order to reach their customers, fueling a 23 percent increase in digital ad spending in 2021 from the previous year, and is projected to grow 14 percent to $934 million in 2022. One of the challenges Involve aims to solve in Vietnam is the long payment cycles that marketing partners face when running campaigns on behalf of advertisers, typically between sixty to ninety days. Leveraging on its proprietary risk scoring system, Involve\u2019s platform enables Advertisers to weed out fraudulent activities and to ensure high-quality outcomes are paid out quicker, the company said. Involve said its express withdrawal capabilities allows marketing partners to receive their money in as quickly as 15 days, which enables partners to manage their cashflows and to scale up their operations. The region\u2019s top e-commerce, travel and finance brands use Involve platform to manage over 1.2 million partnerships with marketing partners such as TechRadar, Microsoft, Honey, Shopback and more. Founded in 2014 and headquartered in Kuala Lumpur, Malaysia, Involve Asia has presence in six countries in Southeast Asia. It counts global venture capitalist firms 500 Startups, Accord Ventures, OSK Ventures International, GDP Venture, CAC Capital and Cradle Seed Ventures as their investors. Hong Kong intelligent logistics platform Zeek launches quick commerce solutions in Hanoi, Vietnam"}, {"url": "https://technode.global/2022/04/13/sedanias-singapore-based-espl-enters-crypto-nft-gaming-in-the-metaverse/", "page": 57, "title": "Singapore\u2019s eSports firm ESPL partners Philippine\u2019s Yield Guild Games for crypto NFT gaming", "contents": "Esports Players League (ESPL)The partnership aims to generate up to 300,000 gamers for ESPL and Sedania, Sedania and ESPL said in a statement. They also said the partnership will allow ESPL to focus on enabling the 3Gs (game publishers, gamers, and guilds) to build a sustainable ecosystem by launching exciting NFTs and projects surrounding cryptocurrency other than gaming tournaments. These projects are aligned with the environmental, social, and governance (ESG) goals through utilising protocols and cryptocurrency networks that are more environmentally considerate; leveraging gaming for good, allowing students to offset student debts with play to earn (P2E) rewards and earnings; providing a safe, trusted platform for brands to engage gamers. \u201cIt is important for us to discover the viability of cutting-edge technologies critical to the metaverse as we believe it enhances our vision of ESPL as a compelling platform that provides a more exciting gaming experience for players,\u201d said Sedania Founder and Managing Director Datuk Azrin Mohd Noor. \u201cWe\u2019ve been working closely with ESPL to drive sustainable Esports development. Through our partnership with YGG SEA, we can channel our growth by building the foundations of a sustainable metaverse with ESPL being at the helm of the community,\u201d he added. Sedania ventured into the esports space in 2019 when it founded ESPL through its investment in Esports Pte Ltd, with the group\u2019s stake currently standing at 36.21 percent. ESPL has organised tournaments for the world\u2019s top game publishers, including Riot Games, Supercell, Tencent, Sky Mavis, and many others. Coming from its roots as a community-driven Esports platform, ESPL is working towards its massive goal of becoming the preferred platform for competitive gaming across all genres in the Metaverse. The platform has gained more than 250,000 gaming enthusiasts signed up together with more than 500 tournaments organized globally. \u201cTechnology has definitely brought gaming and the Esports industry to astonishing new heights. With Web 3.0 on its way, more ESPL development and tournaments can be held in the metaverse with rewards and prizes distributed immediately upon completion,\u201d said ESPL Chief Executive Officer Daryl Teo. \u201cMoving forward in 2022, ESPL will organise a series of groundbreaking tournaments involving a globalised Metaverse and NFT games such as Axie Infinity by Sky Mavis. We are optimistic that the success of our current tournaments will be a signal from gamers to continue our pursuit of expanding our user base,\u201d he added. Sedania is an investment holding company with a focus in sustainability-enabling businesses. Since its listing in 2015 on the ACE Market of Bursa Malaysia, it has invested in innovative businesses which lead to the reduction of carbon emissions and enable sustainability. The company invests in its corporate clients\u2019 future energy sustainability by financing and deploying energy efficiency solutions and renewable energy systems. For consumers, Sedania offers preventive healthcare products which reduce carbon emissions through the selection of eco-friendly ingredients and biodegradable material. Over 150 products are sold under the brand Offspring online and through selected retail stores in over 20 countries worldwide. Singapore gaming firm Refract secures over $6M funding led by Sea Limited"}, {"url": "https://technode.global/2022/04/13/malaysia-listed-myegs-zetrix-blockchain-to-launch-mainnet/", "page": 57, "title": "Malaysia-listed MYEG\u2019s Zetrix blockchain to launch mainnet", "contents": "Malaysia-based This marks the completion of phase 1 of Zetrix\u2019s journey towards being a leading platform for decentralized applications, where industrial use cases like supply chain traceability and financing co-exist with the metaverse, the e-government service provider said in a statement on Tuesday. Zetrix is the international extension of Xinghuo BIF, China\u2019s largest national-level blockchain network supported by all levels of the Chinese government and running both governmental and commercial applications. It is a collaboration between MYEG and Beijing-based Bubi Technologies which provides the backbone infrastructure and supernodes outside China that integrates with Xinghuo BIF. Zetrix\u2019s Layer-1 infrastructure will host applications, protocols and networks to be deployed on top of its proprietary smart contracts and Proof-of-Stake (PoS) consensus mechanisms across a network of validator nodes. MYEG\u2019s recently launched NFT marketplace, NFT Pangolin is a global marketplace for creators to issue and sell their unique crypto-secured digital collectibles. Compared to the expensive costs associated with Ethereum, Zetrix will provide lower minting charges and gas fees to reduce the financial barriers to entry for participants which will encourage more artists, traditional and digital alike, to explore the potential of blockchain and a new platform as a means of showcasing and trading their work, MYEG said. Moreover, to commemorate Zetrix\u2019s mainnet launch and the first-ever minting of NFTs on the Zetrix blockchain, users of the \u2018Compare by MYEG\u2019 service will receive free, limited-edition commemorative NFTs to kickstart their digital assets journey. \u2018Compare by MYEG\u2019 is an online platform in Malaysia that allows users to compare and purchase car insurance and takaful renewal services conveniently to get the best prices. The NFTs are complimentary with the purchase of insurance through the platform, and owners of the NFTs will also be eligible for future benefits. Additionally, it also allows its owners to personalize a caption of their choice on the NFTs to make each of them one-of-a-kind. \u201cThis can further educate existing customers and potential users on not only the application of NFTs beyond the creator scene, but also its potential real-world utilization and hopefully to initiate its use for ownership of real-world products. Our aspiration is to be the bridge to enable NFTs or digital collectibles to move freely between China and the rest of the world,\u201d MYEG Group Managing Director TS Wong said. MYEG said the Zetrix mainnet launch contributes significantly to the company\u2019s plans of digitalizing all forms of value transfer and asset ownership, and tokenization as well as for the metaverse ecosystem development. Upcoming projects on Zetrix include Zetrix decentralized finance (DeFi), Web 3.0 domain registry and support for DAO (Decentralised Autonomous Organisations), the company added. Listed on the local stock exchange, MYEG is a concessionaire for Malaysian e-government MSC Flagship Application. MYEG builds, operates and owns the electronic channel to deliver services from various government agencies to Malaysia citizens and businesses. Beyond Malaysia, MYEG has operations in other key regional markets such as the Philippines and Indonesia. Malaysia\u2019s MYEG launches global NFT marketplace known as NFT Pangolin"}, {"url": "https://technode.global/2022/04/08/applications-now-open-in-malaysia-for-5th-cohort-of-ey-startup-incubator-program/", "page": 57, "title": "Applications now open in Malaysia for 5th cohort of EY startup incubator program", "contents": "Early-stage tech startups in Malaysia are invited to apply to theThis year, the EY organization announced the continued expansion of the EY Foundry startup incubator program into Cambodia, Guam, Thailand and Vietnam. These markets will join Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore and Sri Lanka, where the program has been running since 2018, EY said in a statement on Friday. EY Foundry said it is particularly keen to work with those startups that can enhance the EY Tax practice in any of the following innovation areas:\u201cOur incubator program has a new focus on innovation. Start-ups from all sectors are invited to collaborate with us in developing pilot solutions to enhance our clients\u2019 experience and develop the services of tomorrow, leverage disruptive technology to create new markets and business models, meet sustainability goals, and stay centered on people and wellness,\u201d Amarjeet Singh, EY Asean Tax Leader shared. \u201cWith the geographic expansion of this year\u2019s program to include more countries in Southeast Asia, more start-ups in the region will have the opportunity to participate in the program and scale their business. \u201dSuccessful applicants to the program will be announced at a virtual launch event to be held in June 2022. Winning startups will be offered six months of participation in activities that include tailored learnings by EY subject-matter professionals, as well as EY piloting sessions to better prepare startup products to access the corporate community. EY Foundry takes no equity in the startups and to further support the program\u2019s participants in building their technology, the successful applicants will be given $120,000 worth of Microsoft Azure credits. \u201cThrough this incubator program, we look forward to continue working with the relevant ministries and agencies to connect with the startup communities from across diverse sectors as well as supporting more budding entrepreneurs in Malaysia to achieve greater scale and impact by leveraging our professional experience, industry capabilities and global network,\u201d Program Director of EY Foundry in Malaysia and Malaysia Tax Leader, Ernst & Young Tax Consultants Sdn Bhd, Farah Rosley said. To qualify for the EY Foundry program, applicants must fulfill a set of criteria:Founders of startups are invited to apply to the program until April 29, 2022 at EY Foundry is the corporate venturing unit of EY, one of the Big Four accounting and consulting firms. Global SWF: Temasek becomes Singapore \u2018super-incubator\u2019 with a suite of in-house startups"}, {"url": "https://technode.global/2022/04/08/airasia-super-app-collaborates-with-google-cloud-for-digital-growth/", "page": 57, "title": "airasia Super App collaborates with Google Cloud for digital growth", "contents": "airasia Super AppThe two organizations will nurture technology talent, co-create software tools for open innovation, deliver data-driven intelligence on behalf of micro-, small- and medium-sized enterprises (MSMEs) on the platform, and ensure accessibility for diverse users in cities and rural areas, the companies said in a joint statement. \u201cWith the Super App as the center of our ecosystem of e-commerce, logistics and FinTech, we are determined to continue that legacy and give all 700 million people in Asean inclusivity, accessibility and value with an extensive range of services available at their fingertips,\u201d Capital A Group Chief Executive Officer Tony Fernandes said. \u201cWith Google as our partner to take our digital journey to the next stage, we will expand the platform into an entire ecosystem that will not only be transactional, but be about building community, and enriching that community with market-ready technologies and resources to engage more users \u2013 not just the customers but partners like restaurants, airlines, hotels and drivers,\u201d he added. \u201cWith Google\u2019s help, our ecosystem will not only be transactional, but be about building community, and enriching that community \u2013 not just the customers but partners like restaurants, airlines, hotels and drivers,\u201d Fernandes said. airasia Super App, which operates in Malaysia, Indonesia, Singapore, Thailand, and the Philippines, is part of Capital A\u2019s digital pillar. The platform offers a suite of on-demand services from flight and hotel bookings to food and parcel delivery, and ride-hailing services, as it aims to take on regional super app such as Grab and Gojek. \u201c\u2026 we look forward to exploring further co-innovation initiatives with Google, whether in digital travel planning, self-driving cars, cloud gaming, startup investment, or supporting frontline workers through Google Workspace,\u201d airasia Super App CEO Amanda Woo said. The strategic collaboration and ecosystem building efforts will encompass four pillars which include fostering an agile culture and co-innovation talent engine, ensuring seamless user access anytime and anywhere, on any device, unlocking data-driven insights to fuel MSME growth and empowering partners and developers to co-innovate and contribute. One of the initiatives include establishing a Cloud Center of Excellence (CCoE) consisting of AirAsia Allstars and Google Cloud technologists. The CCoE will leverage Google Cloud\u2019s infrastructure, and advanced microservices, serverless and networking technologies; deploy Google Cloud\u2019s analytics, machine learning and artificial intelligence technologies; adopt Google Cloud\u2019s open-source principles and infrastructure, among others. Google, on the other hand, will also tap airasia Super App\u2019s in-region network to expand its developer community in Southeast Asia. \u201cSuper-apps are helping small businesses thrive and stimulate economies. In fact, the World Economic Forum estimates that 70 percent of new economic value generated in the next decade will be driven by digital platform business models,\u201d Google Cloud CEO Thomas Kurian said. AirAsia Group has been aggressively building its digital businesses and its ASEAN Super App over the last two years as most of AirAsia\u2019s planes were grounded due to the ongoing COVID-19 pandemic. The group has hoped to build its super app modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offers a variety of services including ride-hailing, food delivery, and payment services. Capital A posted a net loss of MYR3.12 billion ($744 million) in 2021, narrowed from MYR5.11 billion ($1.22 billion) in 2020, mainly due to strict cost control measures. The revival of the airline industry, particularly ASEAN countries gradually easing travel restrictions has contributed to the group\u2019s reported growth in passengers carried and commendable load factor at 80 percent in the last quarter of 2021. This helped improve its financial position, the group said in February. AirAsia Parent Capital A unable to get $120M govt-guaranteed loan"}, {"url": "https://technode.global/2022/04/08/travel-tech-firms-await-revenge-traveling-as-malaysia-reopens-but-concerns-remain/", "page": 57, "title": "Travel tech firms await \u2018revenge traveling\u2019 as Malaysia reopens, but concerns remain", "contents": "The tourism industry could be one of the most affected sectors globally when COVID-19 pandemic hit since the end of 2019. The tourism business almost came to a halt as countries closed borders and imposed travel restrictions to contain the deadly and infectious coronavirus.2020 was supposed to be the Visit Malaysia Year as the country targeted to welcome 30 million tourists. The plan was totally derailed due to the pandemic when the country closed its borders around March. The industry was not able to fully recover in 2021 as the borders remained closed, no thanks to the Delta-variant which sent new COVID-19 cases to high-level, straining the country\u2019s healthcare system. Malaysian Association of Tour and Travel Agents (Matta) estimated that the closure of international borders and travel restrictions had caused the country to lose about MYR90 billion ($21.34 billion) in tourism receipts in 2020 with the figure increasing to MYR165 billion ($35.56 billion) last year. Travel tech firms are finally able to hope for a better year as Malaysia, alongside with other countries in the region, reopens for international travelers after two years. But still, the recovery of the traveling industry may not be a smooth one as a sub-variant of the highly transmissible Omicron version of coronavirus, BA.2, is now dominant worldwide, prompting surges in countries across US, Europe and Asia. Malaysia has reopened its borders to international travelers starting April 1. Visitors and Malaysian returnees who are fully vaccinated are not required to undergo quarantine upon arrival but must be tested two days before traveling and within 24 hours of their arrival. Malaysia-based travel tech firm \u201cWe foresee MICE (meetings, incentives, conferences, exhibitions) travel will recover. Conferences and exhibitions will be organized in the coming months. Company incentive trips will resume,\u201d Tourplus Founder and Chief Executive Officer Rickson Goh told \u201cAfter two to three months, foreign independent travelers and group tours will be back. We expect to see \u2018revenge travel\u2019 happening soon,\u201d he said. Currently, Goh said the company is still focusing on domestic tourists and families with children. \u201cThe Omicron variant does bring some concerns to the travel industry. However, since most Malaysians are vaccinated, the impact will not be huge as during the time in early 2020, when everyone is afraid to travel. I believe 2022 will still be the recovery year for the travel industry,\u201d he said. Tourplus, which operates a travel platform, has also partnered with the Selangor state government to launch \u2018Go Selangor\u2019 App, an official travel app aiming to help local small and medium enterprises (SMEs) to digitize their business and to be ready to serve domestic and international travelers. \u201cWe see huge demand in domestic travel with unique accommodations like \u2018glamping\u2019, one-day trips and staycations. Hotels are fully booked during peak season. Even during normal days, occupancy rates are about 60 percent. Some popular hotels are fully-booked until the second quarter of 2022,\u201d he shared. Kuala Lumpur-based translator Tan Huei Shan said she will be traveling to Semporna, Sabah, a state in East Malaysia next week. \u201cIt has been two years since I have traveled. We are going with a group of friends. To be honest, I don\u2019t really feel 100 percent safe to travel, but we will be extra careful,\u201d she told But for Aishah Zainal, a mother of a toddler, is not ready to start traveling with her daughter. \u201cWe do bring our daughter out, mainly to less crowded places like the park and the shopping mall during weekdays,\u201d the executive told \u201cIt would be a nightmare if she gets the virus as I don\u2019t know if she will get a severe case or not,\u201d Aishah added. On Thursday (Apr 7), Malaysia recorded 12,105 new COVID cases with 98 percent having mild or no symptoms. Only 221 cases were deemed critical, data from Capital A Bhd, the parent company of budget airline \u201cAir travel is on a strong rebound, especially with various countries across Asean announcing the reopening of borders and more Vaccinated-Travel-Lane (VTL) arrangements,\u201d airasia Super App Chief Executive Officer Amanda Woo said in a statement last month. \u201cSUPER+ will certainly facilitate affordable and convenient travel for everyone to visit and explore the many destinations within the wide network connectivity of the AirAsia Aviation Group. \u201dTourplus also sees opportunities as many operators in the travel industry have yet to digitalize their business operations. \u201cThere is a huge gap in the travel industry as most of the operators are yet digitalize their business, unlike hotels and airlines which have done so, connecting their \u2018inventory\u2019 to the channel managers which allow instant booking and dynamic pricing that is the closely tracking customer behavior. Big [travel] players like Klook and KKday have ventured into B2B SaaS solution to provide tour and activities management systems,\u201d Goh said. In the future, he expects there will be more solo or independent travelers, last-minute bookings and the need to access information fast and easy. \u201cThis is where Tourplus will be focusing, in building technology to transform the travel industry,\u201d he added. Tourplus, backed by US-headquartered VC firm SOSV and Australian alternative asset management firm Hotel aggregator and owner \u201cIn all the countries around the world that we serve, we see that travel bookings have accelerated rapidly in places where at least 40 percent of the population have received their first dose of the vaccine,\u201d Tan Ming Luk Tan, OYO Head of Singapore Malaysia, told Recent data also indicate that properties that are part of VaccinAid,(with tags shown on its website to indicate hotels\u2019 staff have been vaccinated) record a 220 percent increase in occupancy and a 180 percent increase in revenue per available room (RevPar) compared to properties that are not. According to Tan, nearly 15 percent of its rooms across Southeast Asia and Malaysia have yet to resume operations following Covid lockdowns. Hotel owners are facing a complex set of issues including health concerns for themselves, their staff and their guests, lack of staff availability, lack of clarity on government regulations, and financial illiquidity. Of these, nearly a third have indicated to OYO that they would like to exit the hotel business and explore other business opportunities. \u201cFor the rest, we are supporting them through a combination of establishing sanitization protocols and training their staff, providing flexibility in terms of pricing and commercial arrangements to ease cash flows, as well as leveraging technology to reduce dependence on manpower including contactless check-in, among others. \u201cWe expect nearly 50 percent of the properties that are temporarily shut today to resume business over the next three months as the markets reopen. The rest will take longer as it will be a combination of property owners needing to find new lessees, exploring alternative business models with their properties and simply waiting for markets to rebound completely,\u201d Tan explained. The Indian hospitality startup, which counts Softbank and Sequoia Capital as backers, provides full-stack technology products and services that aim to increase revenue and ease operations to hotel or properties owners who operate over 157,000 hotel and home storefronts in more than 35 countries including India, Europe, and Southeast Asia. OYO has continued to add properties to its network even during COVID time, according to Tan. \u201cWe\u2019ve added nearly 3,500 to 4,000 new rooms each month across Southeast Asia. So our network will continue to grow in the next quarter,\u201d he said. On how OYO has prepared itself to welcome the resumption of traveling activities, Tan said OYO noted the pandemic has created and accelerated multiple industry trends such as \u2013 hyper-focus on hygiene, \u2018domestic-first\u2019 recovery with the reinvention of local destinations. \u201cCOVID-19 has given rise to new destinations and vacation formats. Increasing shift towards work from home setup across sectors is also boosting longer-term travels to local destinations,\u201d he said. Large hotel chains have a perception of maintaining high hygienic standards and ensuring safer stays as compared to the smaller hotels, which is resulting in large hotel chains gaining market share, Tan shared. \u201cWith significant consumers facing financial uncertainties, there is also increasing preference for value-for-money options, provided they meet the required criteria of hygiene and trust. \u201dOYO has also launched \u2018Sanitized Stays\u2019, \u2018Sanitize Before Your Eyes\u2019 and \u2018Zero Touch\u2019 standard operating procedures, enabling the company and its partners to build confidence and trust among its guests and also help to bring back confidence to support the recovery of the hospitality and travel sector. OYO has also tapped into the new customer segment by creating demand for \u2018workation\u2019. \u201cWe have launched dedicated products for capturing medium- and long-term stay demand at affordable rates, which has seen a good market response,\u201d Tan added. OYO has always been a tech-focused organization, the impact of COVID-19 in March/April 2020 transitioned the firm into a tech-first organization, he said. \u201cWe have been working to improve existing \u2013 and introduce new \u2013 technologies and products for our hotel and home partners, and customers. In fact, we used the pandemic as an opportunity to strengthen our focus on technology which included an increase in tech-related investment between 2019 and 2021. \u201dOYO, which filed for an initial public offering last year, is said to be considering slashing its fundraising target by half or even shelving the debut, OYO told For Malaysia, OYO said it continues to focus on providing guests with what they need in the new normal \u2013 be it more flexibility in booking, assurance of sanitization, or hotels in destinations within driving distance. \u201cAll aspects of the customer journey especially on hygiene and cleanliness is being relooked at going forward. Contactless experiences will be important. We also believe that travelers will demonstrate preferences for hotels, restaurants and lodging facilities that communicate enhanced sanitation and hygiene protocols. The focus is on being clinically clean,\u201d he said. Another Malaysia-based travel tech firm \u201cWe expect minimum recovery for the travel industry this year in view of the uncertainties. We will be agile, stay resilient, pivot fast, and keep some cash reserves to stay afloat,\u201d Chin Yoon Khen, Founder and CEO of LokaLocal told The company, which previously connects travelers to locals for unique traveling experiences, has also introduced virtual reality tech in 2020, when the country imposed a partial lockdown to contain COVID-19. \u201cWe ventured into virtual reality (VR) tech in 2020, providing services to a broad range of clients across different sectors in telecommunication, real estate, healthcare, electrical power, furniture/timber, death care services and many more. We see seven times business growth in 2021,\u201d he shared. Moving forward, Chin expects there will be many travelers who are still afraid of infection. \u201cThey will seek experiences in less crowded places and would prefer to travel in smaller groups locally which provides a lot more flexibility. \u201d\u201cWe use VR tech to offer an alternative way for tourists to discover Malaysia attractions and places through 360\u00b0 virtual tours. We will roll out self-guided audio tours and promote hybrid tourism in a bid to revive traveling in 2022,\u201d he said. Chin said restrictions on mobility have stimulated the use of the Internet as a way of visiting destinations virtually and consulting tourist information. \u201cAs a travel tech company that specializes in digital content creation via VR/AR, we are turning the unprecedented challenges into countless opportunities. Pandemic gives a huge boost to digital adoption,\u201d he said. The company, which is in its seed stage, will focus on keeping its business to be self-sustaining and will go on to raise the next funding round. \u201cFor the tourism industry to recover, governments need to strive for economic and political stability, as well as layout a phased approach to balance public health and economic needs,\u201d he said. AirAsia partners more airlines to sell competitors\u2019 flights on super app"}, {"url": "https://technode.global/2022/04/07/pace-partners-shangri-la-to-offer-bnpl-payments-its-hotels-across-malaysia/", "page": 57, "title": "Pace partners Shangri-La to offer BNPL payments across its hotels in Malaysia", "contents": "Singapore-based Pace Enterprise (Pace), a FinTech solutions company with a \u2018Buy Now Pay Later\u2019 (BNPL) platform,  announced on Thursday an exclusive partnership with Shangri-La Hotels and Resorts, to offer its BNPL payment option at participating hotels across Malaysia. With Pace\u2019s BNPL payment infrastructure integrated into Shangri-La\u2019s point-of-sale systems, hotel guests and patrons can split their payments over three months, interest-free. The new payment option encompasses services available within the establishment, including hotel stays, dining, as well as wellness services, such as massages or spas. To make a payment, guests or patrons will simply need to choose and complete the transaction using the Pace mobile app at any Shangri-La payment terminals. New Pace users will need to register for an account before they can make any payments. Pace users can also enjoy exclusive offers and discounts for various Pace merchants. \u201cWith Pace\u2019s BNPL solution, we can offer a wider range of payment solutions and allow our guests to enjoy much-deserved rest and relaxation with the Shangri-La experience in a flexible and convenient manner,\u201d said Katie Roberts, Director of Marketing, Malaysia. \u201cIn time for a rebound in travel and tourism, we are looking forward to supporting it by providing flexible payment solutions,\u201d said Turochas \u201cT\u201d Fuad, Pace\u2019s Founder and CEO. Pace is currently available at Shangri-La Hotels and Resorts in Malaysia for over-the-counter payments only and for Malaysia, Singapore, Thailand and Hong Kong Card holders. To date, Pace has over 5,000 points-of-sale across the Asia region and is on track to meet its goal of 1 million users by the end of 2022. Pace also aims to have an annualized Gross Merchandise Value (GMV) of $1 billion by end 2022. Featured image credits: Shangri-LaSingapore\u2019s Pace acquires regional BNPL pioneer Rely to strengthen its FinTech position in the region"}, {"url": "https://technode.global/2022/04/06/malaysias-juristech-partners-with-germanys-mambu-to-drive-innovation-in-malaysias-digital-banking-ecosystem/", "page": 57, "title": "Malaysia\u2019s JurisTech partners with Germany\u2019s Mambu to drive innovation in Malaysia\u2019s digital banking ecosystem", "contents": "Malaysian FinTech firm This new collaboration will act as a catalyst for further expansion of the industry, with the result being greater support for both unbanked and underserved markets in Malaysia, and a boost to overall financial inclusion in the country, JurisTech said in a statement. The partnership of the two software powerhouses will look to streamline exchanges to create a seamless customer and user journey in the credit and financing application lifecycle. The connectivity between Mambu and JurisTech\u2019s products allows JurisTech to offer a holistic credit management platform from digital onboarding, loan origination, debt collection, and artificial intelligence to the digital banking sector. \u201cIt is my pleasure to announce JurisTech\u2019s partnership with Mambu to serve the digital banking ecosystem in Malaysia. Mambu is known for its cloud-native, composable banking platform and will play a strong role together with JurisTech in driving new digital innovations to bridge the gaps in providing access to credit for the underbanked community,\u201d said See Wai Hun, Chief Executive Officer of JurisTech. With Mambu\u2019s unique ecosystem of high-performing, best-in-breed partners bringing extensive industry experience in payments processing, accounting and finance, regulatory reporting, and card issuing and processing, JurisTech said its partnership with Mambu will enable unique digital transformation initiatives in the Malaysian fintech industry. JurisTech aims to leverage Mambu\u2019s capabilities such as global market presence and clientele to drive the company to grow globally. This will not only propel JurisTech to grow in Malaysia\u2019s digital banking sector but also in the digital banking sector globally. Through its partnership with Mambu, JurisTech believes that it will transform and revolutionise the digital banking ecosystem providing high-impact solutions and creating more value for both consumers and financial institutions, putting innovation at the heart of its products. \u201cThe financial services industry in Malaysia is on the verge of a period of significant change with the new digital banking licences due to be announced by Bank Negara Malaysia any day now. Our new partnership with JurisTech will enable Mambu to continue to drive innovative change within the Malaysian digital banking ecosystem as the impact of the new licences begins to be understood. We have been very impressed with JurisTech\u2019s innovative technology and look forward to seeing the impact that we can have together, with the combined force of our market-leading solutions,\u201d said William Dale, Commercial Director at Mambu Asia Pacific (APAC). JurisTech is a Malaysian-based fintech company specialising in enterprise-class software solutions for banks, financial institutions, and telecommunications companies in Malaysia, Southeast Asia, and beyond. Founded during the 1997 Asian Financial Crisis with revolutionary software to connect banks to legal firms for late-stage debt recovery, the firm has since continued to innovate to handle the end-to-end needs of digital banking from digital customer onboarding to orchestrating complete digital ecosystems. With the rising trends of the digital ecosystem, JurisTech has opened its doors to connect with new partners in the digital banking ecosystem. With Malaysia becoming the third country in ASEAN to issue digital banking licences, it marks an important milestone in the development of the nation\u2019s future financial economy. JurisTech said its expansion into the digital banking ecosystem will present a myriad of opportunities for fintechs and digital banking players to accelerate their financial services by leveraging robust technologies, in tandem with the nation\u2019s growing economy. Launched in 2022 in Berlin, Mambu is a software as a service (SaaS) cloud banking platform that fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, FinTechs, retailers, telcos and more. It has 900 employees\u200b that support 200 customers in over 65 countries \u2013 including N26, BancoEstado, OakNorth, Raiffeisen Bank, ABN AMRO and Orange Bank. Mambu APAC launched in Singapore in 2016 and is now very active in the Asia Pacific region, most notably in Singapore, Malaysia, Vietnam, Thailand, Indonesia, the Philippines and Australia. Its customers in APAC include TNEX, Timo and Cake in Vietnam, Bank Jago and Bank INA in Indonesia, leading Islamic bank Bank Islam in Malaysia, UNO in the Philippines, and Bluestone, Nimble, Tyro, Lumi and Hay in Australia. It completed a Series E funding round in December 2021, raising 235 million Euro ($256 million), taking the valuation of the company to just under 5 billion Euro ($5.45 billion). Its lead investors are EQT, Acton Capital, Bessemer Venture Partners, Runa Capital and TCV. Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations"}, {"url": "https://technode.global/2022/04/01/ant-backed-e-wallet-touch-n-go-launches-digital-personal-loan-facility/", "page": 58, "title": "Ant-backed e-wallet Touch \u2018n Go launches digital personal loan facility", "contents": "Touch \u2018n Go (TNG) GroupThis marks TNG eWallet\u2019s first digital lending solutions offering, having previously already launched financial services propositions in investments and insurance, TNG said in a statement. Accessed through the TNG eWallet and delivered fully electronically, GOpinjam offers personal loans from as low as RM100 to a maximum of MYR10,000 ($2376). The repayment period for these loans can range from one week to one year, with no hidden fees of early settlement charges. To further promote inclusion and accessibility to as many people as possible, potential borrowers will require a minimum monthly income of only RM800 to gain access to GOpinjam. GOpinjam is developed in partnership with Malaysian bank CIMB Bank Berhad and employs differentiated product design and delivery mechanisms to ensure best-in-class user journey and experience. The credit underwriting process is also differentiated, built using the best of both data sets, that of the credit bureau and also eWallet spend data \u2013 resulting in greater accessibility for the under-banked segment. For example, this is the first lending offering that would allow users to borrow from as low as MYR100 ($23.76), with CIMB Bank\u2019s e-Zi Tunai Personal Loan product which has been approved by Malaysian regulator Bank Negara Malaysia. \u201cThis is a true market first. We researched the landscape thoroughly before building GOpinjam and I feel we\u2019ve come up with a proposition that delivers significant value to our users, at the same time address the pain points of current personal lending propositions. We\u2019re so pleased to have been able to put this together. We will take feedback post launch and continue to improve with the goal of making this the go-to product for this segment,\u201d said Effendy Shahul Hamid, Group Chief Executive Officer, TNG Group. \u201cThe financial inclusion element was always at the forefront of our thinking, and we expect GOpinjam to be available to those who otherwise would not have been able to access formal credit facilities. We\u2019ve managed to get this done on the back of a \u2018win-win\u2019 partnership mentality between TNG and CIMB Bank \u2013 leveraging each other\u2019s strengths in credit underwriting and wealth of data to bring the most relevant personal credit solution to underserved segments,\u201d he added. Updating on the other key financial services development launched by TNG, he added that TNG\u2019s GO+ micro-investment proposition which was launched in 2021 has already 2.25 million users. At the same time, on the insurance side, he said TNG contributed to 31 percent of the Perlindungan Tenang Voucher Programme (a national insurance initiative) by the government of Malaysia. \u201cCIMB is proud to support GOpinjam through our CIMB e-Zi Tunai Personal Loan, a fully inclusive proposition targeted at underserved segments, anchoring on a pure-play eWallet- bank partnership. This development is also in line with our long-term strategy and intent for the TNG Group, and to allow it to develop into one of Malaysia\u2019s leading non-bank digital financial services providers. We believe GOpinjam also addresses the government\u2019s push towards a more cashless and inclusive society, an area that both CIMB Group and TNG Group fully support,\u201d said Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group. TNG Group is Malaysia\u2019s financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd (TNG), a wholly owned subsidiary of CIMB Group and TNG Digital Sdn Bhd (TNGD), a joint venture between TNG and Ant Group, parent company of Alipay, China\u2019s largest digital payments platform. Established in 2017, TNGD is the owner and operator of TNG eWallet which has over 16 million registered users in Malaysia. Combining TNG\u2019s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant\u2019s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, the TNG eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. CIMB is one of ASEAN\u2019s leading banking groups and Malaysia\u2019s second largest financial services provider, by assets. Listed on Malaysia\u2019s stock exchange, it offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, it has market presence in China, Hong Kong, India, South Korea, the United States and United Kingdom. It has one of the most extensive retail branch networks in ASEAN with 630 branches and around 33,000 employees as at 31 December 2021. Malaysia\u2019s Touch \u2018n Go eWallet and Singapore\u2019s Dotlines collaborate to include migrants  into the cashless society"}, {"url": "https://technode.global/2022/04/01/australias-fintech-unicorn-airwallex-launches-payment-services-in-malaysia/", "page": 58, "title": "Australia\u2019s FinTech unicorn Airwallex launches payment services in Malaysia", "contents": "Australia-based FinTech platform Initially, qualified Malaysian businesses will be given access to Airwallex\u2019s fast, transparent and cost-effective foreign exchange conversions and payouts in more than 130 countries, empowering them to grow and operate globally, Airwallex said in a statement. It said it will continuously extend availability of its product offerings to more businesses over the next few months. Friday\u2019s announcement marks Airwallex\u2019s ongoing commitment and successive step forward in its Southeast Asia expansion. Earlier this year, Airwallex announced it was open for business in Singapore shortly after receiving a Major Payment Institution License by the Monetary Authority of Singapore. Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders. With technology at its core, it has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. The firm was founded in Melbourne in 2015, and in just six years, it has secured more than US$800 million in funding and a valuation of $5.5 billion. The Airwallex group currently serves tens of thousands of customers across all the markets it operates in, including leading global brands such as Qantas, Papaya Global and Plum.  The company has a team of over 1,000 employees across 19 locations globally. Airwallex partners with Choco Up to empower cross-border e-commerce"}, {"url": "https://technode.global/2022/03/31/malaysias-hatten-land-signs-agreement-with-new-partner-for-crypto-mining-activities/", "page": 58, "title": "Malaysia\u2019s Hatten Land signs agreement with new partner for crypto mining activities", "contents": "Hatten Land Limited Hatten Land said in a statement that the partner agrees to deliver 50 sets of S19J Pro as pilot batch machines by end of April 2022 for crypto mining operation to location(s) designated by Hatten Edge for the provision of crypto mining services. Produced by BITMAIN, the manufacturer of digital currency mining servers, S19J Pro is the top-of-the-line model and considered to be one of the most productive and energy-efficient mining rigs in the market. Under the agreement, the pilot batch of rigs will be delivered and installed by 30 April 2022 with the option of delivering additional 500 in 2022. Since its strategic pivot towards the digital economy in late 2021, Hatten Land has gained strong momentum in partnering with established crypto mining operators, including the partner, who are attracted by the group\u2019s large-scale, high-quality mining facilities and collaborative business model. The partner and its owner have hundreds of crypto mining rigs operating within Southeast Asia currently, including Peninsular Malaysia, East Malaysia and Laos, and endeavours to expand its crypto mining operations with Hatten Land in Melaka. According to the statement, both companies will share the net proceeds of the cryptocurrencies that are mined after deducting the related operational and management expenses, as such, the agreement is expected to contribute positively to the net assets and financial performance of Hatten Land for the financial year ending 30 June 2022, barring unforeseen circumstances. Hatten Land said its strategy is to leverage its existing physical assets to provide a secure and stable facility to host crypto mining activities without having to incur substantial capital expenditure or recurring cash outflow. Under this asset-light model, the group will obtain a share of the net proceeds of digital assets being mined, with the crypto mining activities focused on Bitcoin (BTC) at the initial phase. Since January 2022, the group\u2019s mining operation is smooth and stable within its converted facilities, despite the tightened border controls between Singapore and Malaysia. With a total of three such agreements for crypto mining activities and the reopening of borders between Singapore and Malaysia from April 1, 2022, the group aims to target new opportunities with new business partners to utilise top-end crypto mining rigs to expand and scale up its crypto mining operations. \u201cSince we started crypto mining operations in January 2022, we are now more well-equipped and better positioned than ever to expand our operations. Large scale, high-quality, low-cost crypto mining facilities are highly sought-after in Malaysia. With our growing track record, we aim to build on this momentum to secure new partnerships and expand into one of the leading cypto currency mining service providers in Asia,\u201d said Colin Tan, Executive Chairman and Managing Director of Hatten Land. In light of the full resumption of pre-covid land transportation and further easing of other modes of transportion between Singapore and Malaysia, from April 1, 2022, the group said it will accept major cryptocurrencies, through a registered licensed partner, for property sale, retail and hospitality transactions under its property portfolio. With key properties primarily in Melaka, one of Asia\u2019s iconic tourist destinations, Hatten Land\u2019s current development portfolio comprises five integrated mixed-use development projects and retail malls that has a combined built-up area of 6 million square feet. Cited a report by World Economic Forum, Hatten Land said the advent of cryptocurrencies has led to the creation and operation of new global, decentralized networks that have been used by over 100 million people across the world to transfer trillions of dollars of value. \u201cWith the popularity of cryptocurrencies, there is a growing trend by consumers to use it as a payment method for a range of products and services, both online and offline. Together with the rise of digital economy in Asia, there are strong incentives for us to integrate cryptocurrencies in our business activities to access new demographic groups and liquidity pools,\u201d said Tan. Hatten Land is a property developer in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, whose core businesses are property development, property investment, hospitality, retail and education. To potentially enhance the value of its physical assets as well as create digital assets at the same time, with sustainability efforts in mind, the group\u2019s new business strategies is to re-purpose its physical assets, in particular its malls, by identifying new uses, including but not limited to co-sharing office spaces, talent innovation hub, education-related activities, cinema operations, crypto mining and renewable energy activities. The group has obtained shareholders\u2019 approval to diversify its business to include renewable energy, physical-digital malls, cryptocurrency mining and the metaverse via an extraordinary general meeting on December 30, 2021. With the various digital and renewable initiatives announced by the group, the group opined that there are opportunities to enter into new markets offering new business opportunities which would potentially provide additional and recurrent revenue streams and assist in continual growth of the group. Hatten Land began trading on the Catalist board of SGX-ST on February 28, 2017 after the completion of the reverse takeover of VGO Corporation Limited. SGX Catalist-listed Hatten Land signs comprehensive collaboration agreement with Huawei"}, {"url": "https://technode.global/2022/03/30/malaysia-to-enact-laws-to-better-regulate-buy-now-pay-later-schemes/", "page": 58, "title": "Malaysia to enact laws to better regulate \u2018Buy Now Pay Later\u2019 schemes", "contents": "Malaysia\u2019s central bank is working with the Finance Ministry and Securities Commission Malaysia to enact laws to better regulate \u2018Buy Now Pay Later\u2019 (BNPL) schemes. Bank Negara Malaysia\u201cThe CCA will strengthen regulatory arrangements for all consumer credit activities, including BNPL schemes offered by non-bank operators,\u201d the central bank said in its annual report published on Wednesday.  BNPL schemes offered by non-bank operators currently do not fall within the regulatory purview of the central bank or any regulatory agency, according to Bank Negara. For BNPL schemes offered by, or in partnership with banking institutions, the banking institutions are expected to observe practices that are consistent with the responsible lending expectations, Bank Negara said. \u201cTo further mitigate the risks that BNPL schemes may encourage consumers to spend beyond their means, we have also worked with the Financial Education Network to educate the public on the risks of using BNPL schemes,\u201d it added. Southeast Asia super app Beyond the regulated activities, the central bank said it also monitors new market developments to ensure they do not pose any undue risks to the public, including the BNPL schemes. The regulator noted BNPL schemes allow customers to make payments in installments with zero interest but pointed out there may be other charges levied on the customers (e. g. processing fees and late payment fees). \u201cIn some cases, the total charges levied by BNPL providers on the customers may be higher than the total interest and charges imposed by conventional lenders,\u201d the central bank said. BNPL schemes have started to gain traction in Singapore, Malaysia, and Indonesia since last year as more BNPL startups and tech giants such as ride-hailing and FinTech unicorn Grab and e-commerce platform Shopee offering the service, following similar trends in UK, Europe and Australia. Traditional payment giants such as Visa and Mastercard are also offering similar options, as more consumers see BNPL as a way to stretch their budgets. The scheme, however, has stirred concerns among regulators that it could cause youngsters, who are often seen as financially naive, to overspend and be lured into debt traps. In October last year,Elsewhere in neighboring Singapore, The global BNPL market is on a rapid uptrend and is projected to surge 400 percent to $352 billion by 2025 from $89 billion in 2020. The BNPL sector is estimated to process $680 billion worth of transactions in 2025, translating to a compound annual growth rate of 13.23 percent, according to research data analyzed and published by online trading portal Comprar Acciones in February. Featured photo credit: UnsplashChallenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia"}, {"url": "https://technode.global/2022/03/29/consortiums-partnering-banks-e-wallets-have-upper-hand-to-bag-malaysia-digital-bank-licenses/", "page": 58, "title": "Consortiums partnering banks, e-wallets have an upper hand to bag Malaysia digital bank licenses", "contents": "Editor\u2019s note:Consortiums partnering with banks or financial institutions and e-wallet operators will have an upper hand in securing a digital banking license in Malaysia, according to analysts. \u201cAlthough it is not really a necessity, we believe that partnering with banks will give some benefits to the consortiums as banks can provide experience in regulatory, risk management and credit evaluation,\u201d Imran Yusof, Vice President and Head of MIDF Research told Similarly, experience from e-wallet providers will be useful in terms of deposit-taking, client acquisition, and understanding the market of such products, he added. However, Imran said the research house cannot be \u201centirely certain\u201d on how this will be evaluated by Bank Negara Malaysia, the central bank. Bank Negara MalaysiaNotable applicants that have officially announced their applications include Grab-Singtel venture (which secured one of Singapore digital bank licenses in 2020), Axiata-RHB consortium, Paramount-Star Media Group, Singapore-listed wealth platform Several reports noted that local conglomerate Sunway Bhd has also led a consortium for the application. Malaysia-listed tech firm Green Packet Bhd has teamed up with Singapore-listed Zico Holdings Inc. and digital Islamic factoring platform M24 Tawreeq and a group consisting of Genting Plantations Bhd, the plantation arm of Malaysia\u2019s gaming conglomerate Genting Bhd. , technology firm PUC, Pahang and Sabah state governments, has also submitted its application. Apart from meeting financial inclusion objectives of serving the unserved and/or underserved segments, applicants for the digital bank licenses will be assessed on their ability to contribute to the proposed digital banks in a few areas such as risk management and compliance capabilities, adoption of relevant new technologies and digital innovations and their access to deep and robust customer analytics, among others, according to Sophia Lee, the Co-Head of Financial Institution Ratings at RAM Ratings, a rating agency in Malaysia. \u201cAs such, applicants such as financial institutions and established FinTech players that have their own e-wallets and/or lending platforms could have an upper hand in some of these areas,\u201d she told Applicants with consortium partners which have prior experience in digital banking in other countries may have an added advantage on the technology capability aspects,\u201d she added. It is worth noting that Singapore-headquartered super app The iFAST consortium has roped in Yillion Fintech Pte Ltd which provides the core digital banking technology and capabilities for Sunway is said to have roped in Tencent-backed Chinese fintech firm Linklogis Inc and Bangkok Bank PCL to apply for a Malaysian digital bank license, Malaysia\u2019s move to issue digital bank licenses comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Neighboring Thailand is also preparing rules for the setting up of virtual banks as the central bank seeks to promote FinTech to spur competition and wider access to banking services, Central Banks and consumers hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. The demand for online banking services and digital payments have also increased significantly, thanks to Covid-19 pandemic. While some opined that several consortiums chose to partner with government-linked companies, army-linked entities and state governments to some extent do imply \u201cconnections\u201d is more important or equally important than capabilities, MIDF\u2019s Imran has begged to differ. \u201cThe fact that government-linked companies (GLCs) are linked to some of the consortiums does not imply that \u2018connections\u2019 is a factor at all. We believe that any consortium that will be granted the license will be based on merit. We believe that the GLC\u2019s participation in these consortiums are based on business opportunities and decisions,\u201d he added. In a \u201cI would like to communicate to all potential applicants out there, to stop lobbying, in Bank Negara Malaysia we abide by a strict governance process in assessing applications, and I would like all parties to respect that process,\u201d he was quoted as saying. RAM Ratings\u2019 Lee pointed out that digital banks have the advantage of significantly lower cost of operations given the reduced need for human intervention and not having any physical branches. \u201cTheir focus is also on delivering simpler, faster and more convenient solutions to consumers. By utilizing technologies based on artificial intelligence or other forms of predictive algorithms along with big data analytics, digital banks may undertake alternative assessment of credit risks to enable greater financial inclusion,\u201d she explained. Lee said potential beneficiaries include the 8 percent of the unbanked adult population in Malaysia, as well as small and micro-enterprises that are unable to access traditional bank financing. \u201cGiven the ubiquity of smartphones and spike in mobile banking transactions by more than double to MYR460 billion ($109 billion) in 2020 as triggered by the pandemic, the market potential for digital banking is bright,\u201d she said. Lee, however, noted that the debut of digital banks may affect the unsecured retail lending such as personal loans and credit cards as well as micro-enterprises segments of traditional banks. In Lee expects digital banks\u2019 profit performance \u2013 like most start-ups \u2013 is likely to be constrained in the early years. \u201cThis is due to the hefty initial outlay to develop their ecosystem and the need to build up [their] scale by occasionally offering promotional rates amid the competitive business landscape,\u201d she explained. Digital banks will also be subject to the same regulatory framework as commercial banks, although capital adequacy and liquidity requirements will be simplified during the foundational period of between three and five years. \u201cAll said, we do not expect digital banks to compete with unsustainable rates as they are required to prove their profitability and sustainability to Bank Negara in order to maintain their licenses. Applicants will need deep pockets to continuously serve as a source of financial strength to support their respective proposed digital banks,\u201d she added. \u201cRegardless of the size of the underserved, we believe that the current market does support the existence of digital banks. Of course, for better profitability, it may have to eventually expand regionally,\u201d Imran added. TechNode GlobalRead more if you would like to learn more about their strategy and plans, what are the opportunities and challenges they see in building a digital bank in Malaysia:Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]SGX-listed iFAST Corp to continue digital bank ambition in Malaysia [Q&A]BigPay banks on AirAsia\u2019s ecosystem, consortium\u2019s banking expertise to vie for digital banking license in Malaysia [Q&A]Angkasa-Boustead consortium banks on Islamic bank positioning, existing captive members to win a digital banking license in Malaysia [Q&A]"}, {"url": "https://technode.global/2022/03/28/malaysias-private-equity-and-venture-capital-funding-up-26-75-percent-in-2021/", "page": 58, "title": "Malaysia\u2019s private equity and venture capital funding up 26.75% to $3.52B in 2021", "contents": "Malaysia\u2019s total committed funds for private equity and venture capital rose 26.75 percent to MYR14.83 billion ($3.52 billion) in 2021 from MYR11.7 billion ($2.78 billion) in 2020, Total committed funds under management for private equity increased to MYR9.65 billion ($2.29 billion) from MYR7.39 billion ($1.76 billion) in 2020, while funding for venture capital grew to MYR5.18 billion ($1.23 billion) in 2021 from MYR4.31 billion ($1.02 billion) in 2020. For private equity, commitments are sourced largely from corporate investors (28.56 percent), individuals and family offices (19.12 percent), and financial institutions (11.89 percent). As for venture capital, government agencies and investment companies (45.01 percent), sovereign wealth funds (27.90 percent) and corporate investors (19.73 percent) make up the top three sources of funding. The top three registered corporations by amount of investor commitments as at end 2021 were Creador, Xeraya Capital, and Malaysia Venture Capital Management Berhad (MAVCAP). Venture capital investments in 2021 concentrated on early stage (51.26 percent), followed by seed (20.46 percent) and growth (17.88 percent) opportunities. Private equity investments were primarily channeled into growth plays (87.14 percent), with some investments made to early stage opportunities (12.03 percent). In total, 36 venture capital and 29 private equity deals were recorded in 2021. In terms of target industries, medical and biotechnology (63.56 percent) saw the highest share of venture capital investment in 2021, followed by information and communication (25.88 percent), and financial services (4.26 percent). As for private equity, investments were largely channeled to wholesale and retail trade (34.97 percent) in 2021, followed by accommodation and food services (32.24 percent), and financial services (8.15 percent). Divestments in 2021 were mainly exits in the growth stage. Trade sales were a common exit route for venture capitals while secondary sales to investors or other managers were major liquidity routes for private equity. Meanwhile, the total number of registered corporations stood at 124 as at December 31 2021. The venture capital segment accounted for 105 registered corporations (venture capital management corporation [VCMC] and venture capital corporation [VCC]), while the private equity segment consisted of 19 registered corporations (private equity management corporation [PEMC] and private equity corporation [PEC]). As at end 2021, the number of professionals employed by the industry with at least four years experience stood at 344. In 2021, the total funds raised via equity crowdfunding (ECF) in Malaysia increased to MYR221.63 million ($52.64 million) from MYR127.73 million ($30.34 million) in 2020. Since its inception, the total funds raised via ECF in the country stood at MYR420.86 million ($99.95 million).104 issuers have successfully fundraised via 104 campaigns in 2021. The total number of issuers increased by 33 percent in 2021 from 2020.53 percent of issuers in 2021 were technology-focused companies. The majority of issuers in 2021 have established their businesses for five years or less, with more issuers in 2021 having business operations of less than two years compared to 2020. Campaign sizes in 2021 continued to be of larger fundraising amounts, with 86 percent of the campaigns raising beyond the MYR500,000 ($118,750) mark. The highest amount of funds raised in 2021 by a single campaign stood at MYR18.89 million ($4.49 million). The \u201cProfessional, Scientific, and Technical Activities\u201d sector received the most funds in 2021 with MYR60.25 million ($14.31 million).54 percent of campaigns in 2021 fundraised for Series A. The main purpose for fundraising in 2021 was for business expansion. Since ECF was first introduced, the total number of participating investors surpassed the 11,000 mark. For a year-on-year comparison, investor participation increased from more than 3,000 in 2020 to more than 5,000 in 2021. Total funds raised via P2P financing climbs to $270MMeanwhile, the total funds raised via peer to peer (P2P) financing in Malaysia reached MYR1.14 billion ($270 million) in 2021, more than twice the amount of funds raised in 2020. Since its inception, the total funds raised via P2P financing in the country stood at MYR2.29 billion ($540,000). A total of 1,988 issuers fundraised in 2021 \u2013 an increase by 49 percent from 2020. The fundraising was successfully carried out via 14,301 campaigns. Technology-focused issuers decreased to 11 percent in 2021 from 36 percent in 2020. Half of total issuers in 2021 have been in operation for less than 5 years. Campaign sizes in 2021 continued to be of smaller fundraising amounts, with 70 percent of campaigns raising MYR50,000 ($11,875) and below. The \u201cWholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles\u201d sector remained the largest sector served in 2021 with MYR514.41 million ($122.17 million). A total of 54 percent of investment notes in 2021 were issued for invoice, business, and micro financing. Other types of financing included distinct product offerings from various recognised market operators (RMOs). The majority of the campaigns continued to trend towards shorter-term financing in 2021, with tenures of three months or less. The purpose of fundraising in 2021 continued to be predominantly for working capital. Since P2P financing was first introduced, the total number of participating investors surpassed 28,000. For a year-on-year comparison, investor participation decreased from more than 16,000 in 2020 to more than 15,000 in 2021. Digital asset trading value stands at $4.98BDespite market uncertainties following the pandemic, Malaysia\u2019s domestic digital asset market had continued to grow, with approximately MYR21 billion ($4.98 billion) in digital assets traded across all registered digital asset exchanges (DAXs) in 2021. The digital asset market continued to garner investors\u2019 interest as the total number of investment accounts grew by close to 300 percent to approximately 760,000 in 2021, compared with more than 190,000 in 2020. Investors aged below 35 years comprised the largest segment at 62 percent, holding more than 470,000 accounts as at end 2021. The SC said it continued to facilitate the introduction of new digital assets to be traded on DAX, with the approval of Bitcoin Cash (BCH) in March 2021 as an additional permissible digital asset. The other digital assets permitted to be traded on DAX include Bitcoin, Ripple, Ethereum, and LiteCoin. Since introducing the DAX framework in 2019, the SC had registered four DAXs, namely Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd, Tokenize Technology (M) Sdn Bhd, and MX Global Sdn Bhd. Securities Commission Malaysia registers two initial exchange offering operators"}, {"url": "https://technode.global/2022/03/25/malaysias-petronas-partners-waygate-technologies-to-commercialise-co-developed-robotic-inspection-solution/", "page": 58, "title": "Malaysia\u2019s Petronas partners Waygate Technologies to commercialise co-developed robotic inspection solution", "contents": "Petroliam Nasional Berhad (Petronas)Petronas said in a statement that based on the BIKE robotic system, the device enables improved data management and inspection of confined or hard-to-reach spaces in oil and gas facilities \u2013 onshore and offshore. The enhanced technology includes a cleaning tool as well as additional ultrasonic and eddy current inspection capabilities. Under the agreement, Petronas will deploy the updated BIKE robot in more facilities, while WTR will provide comprehensive training and support services. The agreement also marks the commitment by both companies to promote uptake of the device among its partners and customers. \u201cPetronas is pleased to join forces with the robotics team at WTR for their vast experience and patents in mobile robots and inspection technologies. Coupled with the vision and capability of our research and development (R&D) team, we could create solutions that would benefit our inspection and maintenance operations, as well as streamline our asset management. We also look forward to offering these solutions to other companies in the future,\u201d said PTVSB Chief Executive Officer Mahpuzah Abai. The companies are also co-developing two new versions of the tool, the BIKE I-Beam, designed to overcome specific obstacles and sharp edges in confined spaces, and a micro crawler version to facilitate inspection of smaller pipes. \u201cPetronas has been a valued customer of our nondestructive testing (NDT) solutions for years and we are thrilled to now also be able to help advance their remote inspection and cleaning procedures. Our R&D teams have been working closely together to tailor our robotic BIKE platform to their specific challenges. The result is a solution that will allow Petronas to minimize safety risks for their personnel as well as the overall downtime of their assets around the globe,\u201d said WTR Executive General Manager of Visual and Robotic Inspection Solutions Michael Domke. For WTR, the agreement seals another milestone in its strategy to strengthen its automated data caption capabilities and drive innovations that will enhance its customers\u2019 productivity and competitiveness. Robotic inspection solutions are part of its mission as part of the energy technology ecosystem to make energy operations safer and more efficient for people and the planet. Petronas is a dynamic global energy group with presence in over 50 countries. It produces and delivers energy and solutions that power society\u2019s progress in a responsible and sustainable manner. It seeks energy potential across the globe, optimizing value through its integrated business model. Its portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions. Waygate Technologies is an industrial inspection solutions provider and the world leader in nondestructive testing (NDT) ensuring safety, quality and productivity. It combines more than 125 years of experience and a collection of heritage brands including Krautkr\u00e4mer, phoenix|x-ray, Seifert, Everest and Agfa NDT. It drives digital transformation through a broad portfolio of solutions in industrial radiography and computed tomography (CT), remote visual inspection (RVI), ultrasound (UT), eddy current, and robotic inspection. Headquartered in Germany, it is part of the digital solutions segment of Baker Hughes. Petronas Future Tech 2.0 welcomes 20 Malaysian deep tech startups including drone tech firm Aerodyne"}, {"url": "https://technode.global/2022/03/25/fintech-continues-to-be-a-hot-sector-in-southeast-asia-after-a-booming-2021/", "page": 58, "title": "FinTech continues to be a hot sector in Southeast Asia after a booming 2021", "contents": "Editor\u2019s note:FinTech will continue to be one of the hottest sectors in Southeast Asia after record amounts were pumped into the region\u2019s FinTech firms last year, according to investors. Central banks in the region are also in the midst of opening up the highly-regulated financial sector in a bid to spur innovation to improve efficiency and serve the unbanked population. Thailand is preparing rules for the setting up of virtual banks, getting ready to join peers including Singapore and Malaysia in promoting FinTech to spur competition and wider access to banking services, Digital payments, e-wallets transactions have skyrocketed over the past two years when COVID-19 pandemic hit. More consumers and merchants are adopting digital payment in their daily lives. For Malaysia-based digital mortgage crowdlending platform \u201cMore than 70 percent of Southeast Asia population is underbanked or unbanked according to Bain & Co. Over the years, while there has been huge development and adoption in the payment space which was also accelerated by the Covid-19 pandemic, there is still much potential in the investment, lending, savings and decentralized finance (DeFi) space today,\u201d HomeCrowd Founder Dave Chew told \u201cWe focus on the mortgage lending space which is a traditionally \u2018unsexy\u2019 industry that has been long in need of disruption,\u201d he said. \u201cWe decided to base and launch in Malaysia as it is an ideal \u2018test bed\u2019 for developing FinTech solutions and further scale into the Southeast Asia region. We see a huge untapped market in the rural area and villages in the country where there is a community that lacks access to traditional financial services compared to those living in the urban areas where the majority of the FinTech startups predominantly focused on. \u201dChew said Islamic FinTech is also an interesting space. \u201cMalaysia is the world leader in the traditional Islamic finance space thus there are also huge talents pools available. Some of them already reskilled themselves to join the FinTech space. \u201dEven before the coronavirus hit, global FinTech revenues in 2018 were about 92 billion euros ($101.24 billion) in 2018 and are expected to grow to more than 188 billion euros ($206.89 billion) in 2024, according to a pre-COVID forecast by Deloitte, an audit and advisory firm. Venture capital investments in Asia Pacific-based FinTechs surged to a record high of $15.69 billion in 2021, more than double the prior year\u2019s figure of $5.87 billion, according to S&P Global Market Intelligence\u2019s 2022 Asia-Pacific Fintech Market Report published recently. Zooming into Southeast Asia, FinTech startups raised $5.83 billion in funding last year \u2013 out of at least $23.18 billion in equity funding and another $2.57 billion in debt financing raised, according to \u201cThe pandemic has strengthened the case for FinTechs, and we believe that venture capitalists are likely to remain invested even as a market pullback clouds the outlook for IPO or blank-check exits,\u201d Celeste Goh, Fintech Research Analyst at S&P Global Market Intelligence said in a statement earlier this month. \u201cThe uncertain market conditions ahead, however, may nudge investors toward mature FinTechs that have demonstrated financial discipline and B2B companies, which tend to have better unit economics than their consumer-facing counterparts. \u201dAC VenturesAccording to AC Ventures, FinTech remains a sought-after sector in the region, drawing capital from well-known European and US FinTech-focused funds. \u201cWe continue to see innovative business models as consumers are more accustomed to transacting from their phones. Concurrently, mobile phones present a high engagement platform and strong source of data to promote financial inclusion and literacy while unlocking access to commerce and financing,\u201d the Jakarta-based VC firm Founder and Managing Partner Adrian Li told \u201cAlthough the growth in the FinTech space has been ultra explosive in the past two to three years, technology has barely touched the surface in the Southeast Asia financial services industry if we compare it to the $8 trillion loan disbursed in Indonesia alone in 2021, based on data from Financial Services Authority of Indonesia (OJK). We continuously monitor the space closely and look forward to backing the best team and business model,\u201d he said. Indonesia-focused AC Ventures\u2019 FinTech portfolio companies include payment gateway unicorn Li said AC Ventures has seen a wave of early wage access and open finance companies completing their initial funding rounds. \u201cOn the B2B side, insurance or employee wellness is an interesting model as the push to wellness and health had been amplified with the pandemic. In 2022, we identify several potentially exciting models from the more mature market. For instance, innovative credit scoring, mortgage FinTech, and teenage banking models are among our deal pipeline. \u201dFinTech is one of the top few sectors of investment for Gobi Partners, according to its Managing Partner Kay-Mok Ku. \u201cNotable companies we have invested in include Julo and Large, youthful consumer markets with low traditional banking penetration and more open regulation such as Indonesia and the Philippines are probably the most attractive markets, Ku said. \u201cConsumer payment and credit will likely constitute the most substantial part of the FinTech sector while more developed markets in the region will see an expansion of digital insurance and wealth management services,\u201d he added. The central bank of the Philippines has approved six digital banks while there are seven licensed digital banks in Indonesia. AC Ventures\u2019 Li also shared his observations in Indonesia. \u201cIn Indonesia, we have seen multiple waves of technology disruption in the financial services industry, from simple functions such as payments and transfers pioneered by e-wallets and first-generation banks to bank transfer companies. Subsequently, more products and services are built upon peer-to-peer (P2P) payments as credit scoring is integrated between traditional banking and digital economy data, giving birth to the proliferation of P2P lending companies where we have a footprint at such as The market later identified further opportunities in facilitating more sophisticated investing activities such as online brokerage, investment, and cryptocurrencies, he said. \u201cConcurrently, we also witnessed the rise of InsurTech players that complement existing digital marketplace services such as e-commerce, travel insurance, protection for gig economy riders and drivers, and many more. Essentially, one digital infrastructure paved the pathway for new business models to prevail on them. As penetration grows, Li said new solutions can also be built on payment platforms themselves such as payment aggregators which now offer better user interfaces or integrations on top of payment gateways. Within FinTech, there has been differentiation made in areas such as expense management or digital banking sector where companies are targeting different niches for instance corporate clients, pre-banked segments, shariah, among others. The moves to target those untapped and underserved segments will continue to expand the industry\u2019s total addressable market, like Bain, Google and Temasek\u2019s report indicated a very positive outlook in FinTech in the region between 2021 and 2025. Within the timeframe, digital payment in the region is forecasted to grow to $1.7 trillion, digital loan book is expected to reach $116 billion, and FinTech investments asset under management is expected to reach $92 billion. The financial sector is one of the most supervised and highly-regulated economic sectors. Regulators globally are becoming far more active in the FinTech space to understand the risks and concerns associated with this growing industry. HomeCrowd\u2019s Chew said regulation is the biggest challenge faced by his company, similar to other FinTech startups in Malaysia. \u201c[Previously] Regulators tend to regulate us [FinTech startups] like the traditional finance players. The engagement process with regulators is complicated as there are various authorities regulating respective spaces. Some are overlapping with each other,\u201d he said. However, he noted the situation has improved as regulators said that they will look at the FinTech industry differently in a bid to promote more innovation and experimentation. In Malaysia, central bank Bank Negara Malaysia has launched The Regulatory Sandbox in October 2016, to provide a regulatory environment that is conducive for the deployment of FinTech and facilitates overall innovation in the Malaysian financial sector. The Regulatory Sandbox also seeks to encourage innovation and the delivery of financial services by granting regulatory flexibilities for FinTech solutions with genuine value proposition to be experimented in a production or live environment. It has received 106 applications to-date. \u201cWe hope that our government and regulators would support FinTech startups better by regulating us progressively based on the stages of the companies (early to late-stage), not a one-size-fits-all kind of regulatory framework,\u201d Chew suggested. HomeCrowd, which is in the midst of raising $1 million for its seed round, aims to help underserved millennials using a data-driven credit scoring that grants them access to a peer-to-peer (P2P) lending platform for a mortgage loan. The startup expects to secure a license within a month or two after meeting the additional paid-up capital requirement which is entailed in its in-principle approval from the Housing Ministry. Generally, AC Ventures\u2019 Li said all financial services companies face similar structural and macro problems surrounding data availability/Know your customer (KYC), low financial literacy, and limited access to banks and other financial services. \u201cThe same challenge prevails for both traditional and tech companies. Nonetheless, some FinTech firms are built on the premise that they will bridge the gap and alleviate the structural problems by improving access, enriching data, and others,\u201d he added. Although the region provides growth opportunities for FinTech startups, regulations in different countries using different sets of laws could deter FinTech players to expand beyond their home markets. Gobi\u2019s Ku pointed out that different regulations across the markets make it difficult to build truly regional startups from scratch. \u201cBut this might change if mergers and acquisitions allow different local startups to be rolled up as a regional FinTech company,\u201d he added. Meanwhile, Li said that regional expansion is still a possibility as companies look to replicate their products beyond their home market. He concurred with Ku\u2019s view that regional expansion would be more difficult given the regulatory and compliance requirements for FinTech businesses. \u201cXendit\u2019s regional expansion has demonstrated that it is possible to achieve but we Indonesia- based FinTech businesses are fortunate to have the single largest Asean market to grow into without needing to consider regional expansion pre-maturely,\u201d he quipped. Featured image credit: Edi Kurniawan on UnsplashSoutheast Asia FinTech fundraising hits record high of $3.5B year to date \u2013 report"}, {"url": "https://technode.global/2022/03/24/the-securities-commission-malaysia-registers-two-initial-exchange-offering-operators/", "page": 58, "title": "Securities Commission Malaysia registers two initial exchange offering operators", "contents": "The Securities Commission Malaysia (SC)The regulator said in a statement, the registered IEO operators will provide an alternative avenue for eligible companies to raise funds via the issuance of digital tokens in Malaysia. An issuer may raise funds up to MYR100 million ($23.65 million) from retail, sophisticated, as well as angel investors, subject to the investment limits provided in the SC\u2019s Guidelines on Digital Assets. According to SC, these new operators will be required to carry out the necessary assessments, among others, to verify the issuer\u2019s digital value proposition, review the issuer\u2019s proposal and disclosures in its Whitepaper, and undertake a comprehensive due diligence on the issuer and its token offering, prior to hosting the issuer\u2019s digital token on their platform. In addition, it said they will be given up to nine months to comply with all the regulatory requirements before commencing operations, and this includes putting in place a robust and effective Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) process to mitigate Money Laundering and Terrorism Financing (ML/TF) risks. The SC also reminded members of the public that they are not permitted to offer, issue or distribute any digital assets, which have been prescribed as securities, in Malaysia without obtaining a registration or authorisation from the SC. In this regard, a person convicted may be liable to a fine not exceeding MYR10 million ($2.37 million) or imprisonment for a term not exceeding 10 years or both. Members of the public are also advised to be mindful of the risks related to investing in digital assets, including risks of investing on platforms not registered with the SC. Malaysia capital market regulator reviews SPAC framework \u2013 report"}, {"url": "https://technode.global/2022/03/23/malaysias-iprice-group-raises-5m-from-itochu-corporation-and-kddi-corporation/", "page": 58, "title": "Malaysia\u2019s iPrice Group raises $5M from Itochu Corporation and KDDI Corporation", "contents": "iPrice GroupThe additional funding will bolster iPrice\u2019s role in finding shoppers the best deals as Southeast Asia\u2019s e-commerce market becomes increasingly difficult to navigate, iPrice said in a statement. IPrice recently launched a Price Watch service allowing users in Indonesia to receive alerts of their desired products\u2019 price drops directly at iPrice App. The service will continue to roll out in Singapore, the Philippines, Malaysia, Vietnam, and Thailand throughout 2022. With the new funding, iPrice will expand its services to the lending market by helping users find not only the best e-commerce offering but also the best consumer loans to fund their purchases. A Google report predicts that digital lending will hit $92 billion in transactions by 2025 due to its current acceleration in Southeast Asia, and the comparison platform intends to meet consumer demand. iPrice Group is Southeast Asia\u2019s online shopping companion. With a mission to bring a greater level of transparency, convenience, and trust to the e-commerce market across Southeast Asia in order to help people save money, the company today operates in seven countries across Southeast Asia namely Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, and Hong Kong. Currently, iPrice compares and catalogues 7+ billion e-commerce offers from more than 8 million sellers, attracting more than 130 million unique users in 2021 across the region. It currently operates under its own brand iPrice and through various partnerships with leading apps, such as SmartPay (Vietnam), GoRewards (Philippines), Home Credit (Indonesia) Visense (Singapore), Robinsons rewards (Philippines) and Boost (Malaysia). Cited a Facebook and Bain & Company report, iPrice said that in 2021, the number of platforms used by Southeast Asia digital consumers has steadily risen to 7.9 websites per user on average, nearly 52 percent more than 2020. This trend creates a reinforced need for a curated catalogue to provide transparency across platforms and help users save money among multiple marketplaces. iPrice addresses this need by aggregating the best offers from more than 7 billion products and 8 million sellers on a single platform. In 2021, more than 125 million unique users across the region used iPrice platform. \u201cBesides comparing products, prices, sellers\u2019 reputations, and delivery conditions, we are continually deepening our expertise to help shoppers in various ways \u2013 be it aggregating seller vouchers, creating an app that alerts users of their desired products\u2019 price drops, or finding the cheapest loans to fund their purchases,\u201d said iPrice Group Chief Executive Officer Paul Brown-Kenyon. iPrice is also excited to welcome Itochu as part of the capitalization table. Although known for its trading operations, Itochu has vast experience in the area of lending and its subsidiary, PT ITC Auto Multi Finance, operates a lending business in Indonesia under the brand Payku. \u201cWe\u2019re very excited that we can leverage our investors\u2019 extensive lending experience. The first step in our strategic cooperation will be adding Itochu\u2019s subsidiary, Payku, as a key lending partner in Indonesia. Their expertise will be vital as we further penetrate the lending market,\u201d added Brown-Kenyon. Malaysia\u2019s Vase. ai raises seed funding led by Indelible Ventures"}, {"url": "https://technode.global/2022/03/21/malaysias-touch-n-go-ewallet-and-singapores-dotlines-collaborate-to-include-migrants-into-the-cashless-society/", "page": 59, "title": "Malaysia\u2019s Touch \u2018n Go eWallet and Singapore\u2019s Dotlines collaborate to include migrants  into the cashless society", "contents": "Touch \u2018n GoA cashless society is now closer than before, and with this collaboration, the migrant community can fully embrace and be part of the cashless society, both parties said in a statement on Monday. Headquartered in Singapore, Dotlines is a technology-powered consumer and business solution group, working in 10 verticals in more than 21 impact sectors under different brand names. Dotlines has developed many applications that include the Sohoj app, fully developed in the company\u2019s second development center in Malaysia. Launched in 2016, the Sohoj app enables the migrant community to stay connected constantly, transfer top-ups, buy goods and services for self and families back home, and transact securely via its widely spread retail partners. Over the last 5 years, Sohoj has built a strong physical retail store and agent network comprising of 12,000 touchpoints. Under the collaboration, Touch \u2018n Go eWallet will be able to capitalise this network to be closer to these migrant workers and bring them under formal financial inclusion, through assisted account activation, near-to-home top-up, and many more. Features of the Sohoj app will be made available within Touch \u2018n Go eWallet, which serves the purpose of enabling migrants to reload and transfer top-ups to their families back home. With these features, migrants can purchase internet packs or airtime and send them to their family and friends back home. The process is straightforward. Upon selecting the chosen country and preferred internet pack or airtime packages, users will just need to key in the receiver\u2019s phone number and proceed with paying through their Touch \u2018n Go eWallet. The services are available for countries such as Bangladesh, Indonesia, Myanmar, Nepal, India, Pakistan, Myanmar, the Philippines, and Vietnam. \u201cThere is a significant number Touch \u2018n Go eWallet users from the migrant community now. With the surge in demand for cashless and contactless payments, we see this as an opportunity to further include them as part of the cashless society in Malaysia. Touch \u2018n Go eWallet hope to continue bringing services that provide for our migrant friends\u2019 convenient and cashless way of daily living. Through this collaboration with Dotlines, they can easily transfer top-ups, buy goods and services for themselves and their loved ones back home and ensure a safe transaction with Touch \u2018n Go eWallet,\u201cWe will introduce more and more curated services to our migrant friends in the coming months. At the same time, we have also ensured our network of retail and reload merchants for Touch n go eWallet includes those that serve the migrant segment,\u201d said Danny Chua, Chief Commercial Officer of TNG Digital Sdn Bhd. Undoubtedly, COVID-19 has caused a surge in demand for cashless and contactless payments. As more and more merchants head towards the cashless mode of payment, the merchant migrants\u2019 acquirer programme is a priority for Touch \u2018n Go eWallet and Dotlines. More small and medium-sized enterprises (SME) merchants are coming forward (particularly those who are serving the migrants segment) to sign up as a merchant on Touch \u2018n Go eWallet. \u201cOur platform for migrant services, Sohoj, has helped millions of blue-collar Bangladeshi, Nepalese and Indonesian individuals to enjoy a better digital life and stay connected to their families back home. We patiently built a curated network of 12,000 touchpoints across Malaysia to facilitate the life of these migrant workers in an assisted manner. Touch \u2018n Go is a strong impact brand in Malaysia, and with this collaboration, we will make the lives of the migrant workers even better,\u201d said Tareq Udden, Chief Commercial Officer and Head of SEA of Dotlines. Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations"}, {"url": "https://technode.global/2022/03/18/carsome-and-public-bank-sign-mou-for-car-financing-collaboration/", "page": 59, "title": "Carsome and Public Bank sign MoU for car financing collaboration", "contents": "Malaysian lender With this MoU, the bank will be able to provide stock-financing and end-financing arrangement for the vehicles to its member Car Dealers and individual purchasers who have won the bids through Carsome online platform, as well as to extend wholesome financial products/services to Carsome\u2019s customers, Public Bank said in a statement. According to Public Bank Managing Director and Chief Executive Officer Tay Ah Lek, Public Bank through this collaboration aims to offer comprehensive financial services solution namely PB Current Account, PB Enterprise, Cash Management and Credit Card Merchant Service with preferential terms to Carsome and its member Car Dealers. \u201cThis synergistic collaboration is in line with Bank Negara Malaysia\u2019s initiatives to accelerate the digitalisation of financial services, which include supporting the overall development of a dynamic fintech ecosystem in Malaysia. This collaboration will enable Public Bank to interface with Carsome\u2019s online platform to provide a more efficient and seamless vehicle financing delivery system, thus further reducing processing time as well as minimising physical documentation for the financing of successful bidding of vehicles. Through this collaboration, Public Bank is confident to further improve our market share in the vehicle financing segment,\u201d Tay said. \u201cBeing a leading financier in the automobile industry, Public Bank\u2019s strong infrastructure will bring mutual benefits to this new relationship with Carsome. And Carsome will be able to leverage on our wide network of branches and HP Centres which are stronglysupported by the trust in our PB Brand to extend market acceptance of its platform,\u201d he added. Public Bank also said it is committed to support Malaysia\u2019s transformation to digitalisation and will continue to initiate new or improve existing efforts in the future. \u201cWe are thrilled to be working with Public Bank, an established banking institution in Malaysia to offer financing solutions to our customers and dealer-partners. Our vision has always been to create an end-to-end integrated online used vehicle ecosystem; our partnership with Public Bank brings us one step closer to that, as we are able to give more financing options to our customers and dealer-partners when they transact with us,\u201d said Eric Cheng, Carsome Co-Founder and Group Chief Executive Officer. Carsome is Southeast Asia\u2019s largest car e-commerce platform with operations across Malaysia, Indonesia, Thailand and Singapore. The company provides end-to-end solutions to consumers and car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. Listed on the Malaysian Stock Exchange, Public Bank is a bank based in Malaysia, offering financial services in Malaysia as well as the Asia-Pacific region. Malaysia\u2019s Carsome acquires majority stake in Singapore integrated automotive firm CarTimes Automobile"}, {"url": "https://technode.global/2022/03/18/grab-financial-arm-and-sedania-introduce-grab-cash-financing-i-for-grab-drivers-and-delivery-partners-in-malaysia/", "page": 59, "title": "Grab Financial Group partners Sedania to provide Shariah-compliant financing to Malaysian drivers", "contents": "Grab financial armBoth parties said in a statement that Grab Cash Financing-i aims to provide Grab\u2019s driver- and delivery-partners with convenient and secure access to financing, so they can more easily address their immediate household and financial needs. This financing option lowers the barriers to micro-financing which is typically inaccessible to those below a certain income level and lack a formal credit history. This solution is made possible through SASC\u2019s GoHalal Financing Programme (GHP), which ensures the financing activities and operations are compliant with Shariah principles and practices. The GHP has key Shariah compliance tools to enable Shariah financing and among key features are Shariah Advisory Services by Afsha Shariah Advisory and As-Sidq Digital Trading Platform using Digital Commodities for real time transaction and processing. These key features are crucial elements to uphold the Shariah principles in micro financing in the digital ecosystem which makes it a very unique proposition. According to Nisa Ismail, Chief Executive Officer of SASC, it is important that micro-financing is made available to all Malaysians and the products and platform are Shariah-compliant to ensure transparency in the financing terms and conditions. The GHP is developed with digital acceleration in mind to better position Shariah financing in today\u2019s and tomorrow\u2019s economy. \u201cAs the world grapples with the economic impact of the pandemic, access to inclusive financing options in the gig economy remains limited. During this trying time, it is important for every Malaysian to be supported and have convenient access to financial assistance and services that will help them thrive and move forward. We are honoured to work alongside Grab Financial Group to offer the Grab Cash Financing-i programme to their driver and delivery-partners who have been serving as front liners during the pandemic,\u201d said Nisa. Cited a survey which was conducted among Grab\u2019s driver- and delivery-partners, the statement said 65 percent of them cited that a Shariah-compliant financing option was important to them. Their main financing needs included emergency and personal expenses, current loan settlement and education for family members. When the programme was introduced in December 2021 to a limited number of eligible partners, it received encouraging responses. \u201cSince introducing the programme, we saw a take-up rate of 16% among eligible Grab drivers and delivery-partners. Grab Cash Financing-i is just one of GFG\u2019s collaborative efforts with like- minded partners like Sedania to democratise financial services for everyday Malaysians. Our ecosystem, technology and data provide unique insights into our partners\u2019 earnings and spendings, and subsequently their risk scorecard and payment capabilities. We can then customise products that cater to their financial needs,\u201d said Sean Goh, Managing Director and Head of GFG, Grab Malaysia. Following the encouraging response, GFG is officially piloting the Grab Cash Financing-i to a larger pool of eligible drivers and delivery-partners. Eligible partners will receive communications about the programme with a link so they can apply conveniently with no documents and collateral required. Meanwhile, the product is offered to those under 75 years old with minimum monthly earnings of MYR800 ($190.27) earning as a Grab partner, and automated payments are made directly from the partner\u2019s daily earnings to facilitate the financing payments. According to the statement, this product launch is in line with GFG\u2019s mission to drive financial inclusion across Southeast Asia by offering simple, transparent and flexible financial products. Prior to this, GFG has already been providing financial products to drivers and delivery-partners in Malaysia under the banner of the GrabBenefits Programme. Access to affordable insurance, financial literacy courses, fuel subsidies and advanced shopping vouchers are meant to help them defray their daily expenses and be more financially resilient. During the pandemic and recent floods, affected driver and delivery-partners received financial relief to assist with their immediate needs and expenses. GFG is a Southeast Asian fintech platform with the mission to drive financial inclusion across the region by offering simple, transparent, and flexible financial products. Starting with digital payments in 2017, it now offers a suite of financial products including lending, insurance and wealth management. SASC is a wholly-owned subsidiary of Sedania Innovator, a technology provider that empowers financial institutions with Islamic fintech solutions. Starbucks partners with Grab to enhance Starbucks experience for customers in Southeast Asia"}, {"url": "https://technode.global/2022/03/17/malaysias-carsome-acquires-majority-stake-in-singapore-integrated-automotive-firm-cartimes-automobile/", "page": 59, "title": "Malaysia\u2019s Carsome acquires majority stake in Singapore integrated automotive firm CarTimes Automobile", "contents": "Malaysia-based integrated car e-commerce platform Carsome said in a statement the acquisition is an important move that further strengthens its market leadership in the region, and reinforces its commitment to drive ecosystem expansion. Carsome Co-founder and Group Chief Executive Officer Eric Cheng said that CarTimes has built a strong brand in Singapore, trusted by local customers and partners since 2001, through a seamless car transaction process supported through a broad range of ancillary services such as financing and insurance. \u201cWe are thrilled to announce the partnership with CarTimes, the team of which has over twenty years of experience in the auto industry. This partnership will enable us to deepen our footprint in the Singapore auto market, and augment our ability in bringing trust, choice and transparency to customers together,\u201d he said. Established in 2001, CarTimes is one of the largest and trusted, award-winning auto companies in Singapore, which offers a full suite of auto solutions ranging from new and used car retail, rental, financing, insurance to repair, maintenance and workshops. In alignment with Carsome\u2019s mission of prioritizing customers\u2019 values, CarTimes built its business to ensure every customer can enjoy ultimate peace of mind at every step of the car transaction and ownership journey. CarTimes Founder and Managing Director Eddie Loo said that the partnership with Carsome is crucial in assisting them to better serve customers and to provide them with the resources to digitize and improve the two-decade-old relationship that they have with their customers. \u201cWe are extremely excited to be able to find a partner who is fully aligned with our core values and is bringing innovation, technology, and regional experience to our team. Having built an automotive ecosystem of services for our customers here in Singapore, we believe that we have managed to convey our vision of providing a peace-of-mind buying experience to our customers,\u201d he said. The acquisition comes after the company\u2019s recent announcement of completing its acquisition of iCar Asia, a listing and content automotive platform in Southeast Asia, and the appointment of Digbijoy Shukla as Head of Merger and Acquisition and Ecosystem Strategy. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, it aims to digitize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising to bring trust, choice and transparency to our customers. It currently has more than 3,000 employees across all its offices. Malaysia\u2019s Carsome buys 51% stake in Singapore used car dealer CarTimes for $60M \u2013 report"}, {"url": "https://technode.global/2022/03/17/malaysias-mranti-to-open-new-learning-and-development-centre-to-ramp-up-technology-savvy-talent-pool-and-innovation-portfolio/", "page": 59, "title": "Malaysia\u2019s MRANTI to open new learning and development centre to ramp up technology-savvy talent pool and innovation portfolio", "contents": "The Malaysia Research Accelerator for Technology and Innovation (MRANTI)The new learning and development centre will offer a spectrum of 4IR focused tools, technologies and technology immersion programmes, aimed at gathering communities for greater experimentation and collaboration in a bid to increase local inventions, MRANTI said in a statement. \u201cOpportunities in artificial intelligence, automation, electrification, data science, cloud computing and 3D printing are booming! However, many reports show that Malaysia needs more scientists, engineers, technologists to fill critical occupations1 as we enter the Fourth Industrial Revolution (4IR) era \u2013 just as much as we need to up-end our innovation commercialisation rate. While roadshows allow us to reach all corners of Malaysia to fan interest in technology and innovation, a central hub allows for the meeting of minds. This is where ideas for impact are sparked, where thought and tinkering become a thing,\u201d said its Chief Executive Officer Dzuleira Abu Bakar. Cited KPMG survey, MRANTI said Malaysia\u2019s capital city Kuala Lumpur is among top 10 cities in Asia Pacific seen as a leading technology innovation hub. \u201cWe want to maintain our competitive edge. This requires us to cultivate ideas from an early stage, effectively transition and scale them for sustainable impact. As a connector, MRANTI aims to match solutions to problems, MakersLab would be a springboard to cultivate creative and innovative problem-solving skills from within the community,\u201d she said. Located at MRANTI Park in Bukit Jalil, MRANTI MakersLab will offer innovators, students and hobbyists with quick, affordable and convenient access to tools, equipment, space and knowledge for the rapid prototyping of solutions. It is ideal for sandboxing smaller scale ideas and tinkering of hardware and software in a dedicated space. \u201cBetween April and May, a pop-up makerspace will serve as a prelude to MRANTI\u2019s MakersLab and we invite school students, youth and the STEM community to come over to realise their ideas now. Visits are currently by appointment basis for best maker experience,\u201d said Dzuleira. Dzuleira explained that MRANTI\u2019s MakersLab adds to the suite of MRANTI Park\u2019s 686 acre integrated facilities for end-to-end research, development, commercialisation and innovation (R&D&C&I) services. MRANTI Park currently hosts five Living Labs for dronetech, unmanned autonomous vehicles (UAV), 5G, BioScience (Agriculture, Healthcare, Bioindustry), and 4IR technologies \u2013 ideal for stress-testing innovations in a closed environment. From here, viable products and solutions can be brought on to real-world test beds including the National Technology & Innovation Sandbox sites for live environment testing, and further, primed for industrial-scale contract manufacturing, consulting and a host of go-to-market programmes at MRANTI Engineering and MRANTI Nexus facilities. \u201cUltimately we want to increase the R&D commercial output of local innovations,\u201d said Dzuleira. At the MRANTI\u2019s World Engineering Day launch recently, Dzuleira shared that one of the key measures for Malaysia to achieve the high tech nation status is having a 1 to 100 engineer to population ratio. According to the Board of Engineers, Malaysia (BEM), the engineer to population ratio for Malaysia is 1:174. \u201cThere is a high demand for engineers and the skills gap in engineering will negatively affect areas of the United Nations Sustainable Development Goals in terms of clean energy, sustainable cities and climate action,\u201d said Dzuleira. \u201cAt MRANTI\u2019s MakersLab, we want to foster a culture of learning-by-doing, innovation, hands-on exploration here \u2013 where the community can be involved in the shaping of world-class Malaysian-made inventions which could someday be applied to address critical societal and planetary issues,\u201d she said. MRANTI\u2019s World Engineering Day celebration, in collaboration with BEM, the Institution of Engineers, Malaysia (IEM), and STEM4ALL Makerspace, drew in over 500 students, educators, innovators and technology enthusiasts. Over two days, events and activities included a series of talks, forums, competitions, exhibitions and design workshops themed Build Back Wiser \u2013 Engineering The Future. MRANTI\u2019s community, corporate, academia and research outreach engagement sessions are aimed at strengthening collaboration within the innovation ecosystem. MRANTI is the one-stop research commercialisation agency with the resources to accelerate the commercialisation of innovative ideas that will drive impact. As a connector, collaborator and catalyst, it connects problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. Malaysia needs \u201cbig innovation purpose\u201d to stay ahead, says its government agency MRANTI"}, {"url": "https://technode.global/2022/03/17/malaysias-drone-tech-hub-ambition-opportunities-challenges-part-2/", "page": 59, "title": "Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 2]", "contents": "Editor\u2019s note:The global market for Unmanned Aircraft Systems (UAS) or drones has grown significantly over the last decade. Rapid technological development on the hardware has resulted in robust and reliable aerial platforms now addressing a growing number of civil and industrial use cases, across a diverse set of verticals including oil & gas, agriculture, logistics, and many others, a A number of challenges, however, still constrain widespread adoption of UAS technology in these commercial contexts. One of the key challenges drone tech firms face is to thread the fine line of encouraging innovation while maintaining public safety and confidence at the same time, according to Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer Mahadhir Aziz. \u201cAlso, drone tech companies may face regulatory hurdles as the drone regulation varies in different countries,\u201d he told While regulations are needed to be put in place to ensure safety of the public, \u201cDrone companies often need to abide by strict certification and compliance for drone operations, which may result in long periods for permits, limited guidelines for Beyond Visual Line of Sight (BVLOS) flights, and multi-agency approvals,\u201d she said in a separate interview. Besides regulations, both \u201cDrone regulations are always stringent globally because drones are considered \u2018high risks\u2019, with concerns related to privacy and safety. [But] I\u2019m supportive of having stringent and proper regulations in place,\u201d Kamarul said. \u201cFor example in Australia, it is stringent in terms of regulation, but at the same time, it\u2019s easy to operate businesses there. In Malaysia, I\u2019m very encouraged by the support from the CAAM. Soon they\u2019ll announce the authorized training organization. They are already putting in the structure that will make it easy for us to operate. \u201dHe said drone tech firms have to look beyond the Malaysian market and build world-class technology to compete globally. While he noted universities in Malaysia are churning out good quality talents that drone tech firms can tap into, there is still insufficient talent for fast-growing tech firms like Aerodyne and the industry. \u201cThis is especially so when we are trying to build world-class technology. We are not building technology only for Malaysia, but looking at technology that can be exported globally. This technology needs to be at par or better than technology that has been developed in Israel, Japan, in the US. Attracting the best talent is a challenge,\u201d he said. Kamarul, however, did notice that there are already a series of initiatives from various government agencies to support the drone tech industry. \u201cI think there\u2019s a coordinated effort by the government to support the industry. This will result in better talent, and better support in terms of funding, visibility. \u201dMalaysia government agencies such as MDEC, have designed and implemented several initiatives to fast-track growth of the country\u2019s DroneTech industry and high potential companies such as DroneTech Testbed Initiative and collaboration with The World Economic Forum. \u201cWe are proud to share that some of the Malaysia-based drone companies are part of MDEC\u2019s Global Acceleration and Innovation Network (GAIN) program, which helps high potential Malaysian tech companies to scale up regionally and globally via four unique pillars \u2013 Gateway, Amplify, Invest and Nurture,\u201d MDEC\u2019s Mahadhir said. In a recent report by Drone Industry Insights (DRONEII), a drone market research and analytics company, besides Aerodyne which came out first on the list, there are other also other Malaysia-based drone tech companies \u2013 Meraque (#19), Poladrone (#27), and OFO Tech (#36) included in the list. Aerodyne, For example, Poladrone received the Global Technology Fund from MDEC in 2020 to develop Oryctes, the world\u2019s first precision spot spraying drone designed for oil palm. \u201cMDEC also works closely with other government ministries and partners such as MaGIC and partners via the MDEC also strongly encourages entrepreneurs and local SMEs to explore emerging opportunities and technology applications for industries such as agriculture, construction, energy, infrastructure, and public safety, he added. MRANTI, a merged entity of MaGIC and Technology Park Malaysia under the Ministry of Science, Technology and Innovation, is also closely supporting the industry. \u201cDrones will be one of our immediate priorities in the first phase of MRANTI, through which we aim to build partnerships to bridge the gap between technology and industry demand, deploy intervention programs to support the drone tech ecosystem with the necessary programs and interventions to accelerate commercialization,\u201d MRANTI CEO Dzuleira told \u201cThe task at hand is to create a basket of such companies and expand the ecosystem so that we elevate the rewards and returns from such ventures,\u201d she added. Government FundingThe National Budget for 2022 outlines several areas where drone tech and related industries will be given the spotlight as Malaysia strives to become the drone hub of Southeast Asia. This includes:National Technology and Innovation Sandbox (NTIS)Agriculture Sandbox at FELDA Mempaga, Pahang, Robotics & Automation Sandbox at Drone and Robotic Zone Iskandar (DRZ Iskandar), Urban drone delivery in Cyberjaya and Area57. Area 57In September last year, Malaysia has launched a drone development zone \u201cThrough Area 57, we can conduct more thorough case studies and encourage adaptive regulations that can spur innovations. It will allow more collaborations with other government agencies and authorities to ease the development of the drone tech industry,\u201d Dzuleira said. For example, last year, the CAAM launched three Civil Aviation Directives directly relating to drones allowing the industry as a whole to operate with more clarity and safety. Among agencies that Area 57 will be cooperating with are Department of Survey and Mapping Malaysia (JUPEM), Malaysian Communications and Multimedia Commission (SKMM), SIRIM, Department of Environment and Chief Government Security Office. \u201cWith Area 57 as a one-stop-center for the drone tech ecosystem, we hope to see more drone companies and academia from various higher educational institutions in contributing feedback to build a stronger ecosystem, she said. Area 57 provides integrated facilities to UAS/drone innovators, developers and manufacturers in every step of the drone development lifecycle from the design phase, testing phase until the service and maintenance phase once the infrastructure is completed in the second quarter in 2023. It will also assist the drone industry players and stakeholders in engaging with relevant government authorities and regulators for testing activities and certifications besides offering license certification training. It also engages with the communities and future generations through events and expos including seminars, exhibitions, roundtable sessions. It is worth noting that besides providing a one-stop center to support the drone community from design to maintenance, Area 57 also aim to connect these companies with local authorities for testing and certification. More capacity-building programs will be offered soon, Dzuleira said. \u201cThrough MRANTI, we aim to build partnerships to bridge the gap between technology and industry demand, deploy interventions programs to support the drone tech ecosystem, and to provide facilities and infrastructure to nurture the growth of drone tech innovations. \u201dAccording to her, the prioritized sectors for Drone Tech in Malaysia include:In January, \u200b\u200bTaking a cue from China where there is the emergence of tech giants such as Alibaba, Baidu, Tencent and Xiaomi, Aerodyne\u2019s Kamarul said the government should also support and encourage the adoption of technology. Drone tech companies, on the other hand, should better position themselves and focus on specific markets, collaborate and find ways to complement each other, he said. \u201cMalaysian players should get together. We can still have healthy competition but let\u2019s come together to build the ecosystem,\u201d he said. \u201cDrone startups should find their own niche, develop solutions which can provide value to their clients. \u201dFor example, instead of trying to build a drone, or hardware, which some of the larger corporations like China-based While it may not be easy for drone tech firms to export their services due to strict regulations, Malaysian firms can work with and invest in local partners in foreign markets, Kamarul added, as he shared Aerodyne\u2019s experience. He also suggested government-linked companies (GLCs) to work and collaborate with tech firms, and adopt local technology to help create a stronger tech ecosystem. More testing sites, funding, and collaboration with large corporations are some of the ways to support the drone tech industry, VStream Revolution CEO Saravanan Chettiar told \u201cWe should have more drone R&D sites or test sites that can be used by drone tech companies with facilitation for permit application,\u201d he said. There should be more investments or fundings made available for startups and strategic partnerships with industry players including national oil firm Petronas, state-owned palm oil plantation agency Felda, Malaysian Highway Authority (LLM) and others, he suggested. MDEC\u2019s Mahadhir suggested drone tech startups to understand the drone landscape in Malaysia and also globally. \u201cPay close attention to not only the market needs but also to the local regulations. Secondly, MDEC strongly recommends drone tech startups to engage us. MDEC is here to help startups navigate through the industry as we have established a strong network and support in the drone tech industry. Our support can range from networking, business facilitation, to market access among others,\u201d he said. MDEC will continue to work closely with the relevant Ministries, agencies and ecosystem players and will be guided by the MyDigital blueprint and the National Fourth Industrial Revolution (4IR) Policy, he added. Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]"}, {"url": "https://technode.global/2022/03/17/malaysias-carsome-buys-51-stake-in-singapore-used-car-dealer-cartimes-for-60m-report/", "page": 59, "title": "Malaysia\u2019s Carsome buys 51% stake in Singapore used car dealer CarTimes for $60M \u2013 report", "contents": "Malaysia-headquartered used car platform Quoting sources, the local media reported that the deal is half in cash and half in shares and believed to be worth around $60 million. Regulatory filings showed that on Mar 7, CarTimes Managing Director Eddie Loo transferred 408,000 ordinary shares in the company to Carsome Group, Malaysia\u2019s first tech unicorn. Loo, who founded the company, still owns the remaining 49 percent of CarTimes. Carsome and CarTimes have yet to respond to Established in 2001, CarTimes Group provides a full-suite of solutions, from retail, rental, insurance and workshop servicing, information from its website showed. The news comes as Carsome is said to be preparing for an initial public offering in the US later of the year. Carro claims to be Singapore\u2019s number one car marketplace that offers a full-stack service for all aspects of car ownership. Besides buying and selling of new and used cars online, Carro also offer car loans,  car repair and maintenance services at its workshop. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. In January, Carsome announced the completion of its $290 million Series E round, increasing the company\u2019s valuation to approximately $1.7 billion. Featured photo credit: CarTimes Malaysia unicorn Carsome raises $290M in Series E financing"}, {"url": "https://technode.global/2022/03/15/malaysia-aviation-group-partners-with-bnpl-platform-hoolah-to-enable-travellers-in-malaysia-singapore-and-hong-kong-to-pay-for-flights-over-time/", "page": 59, "title": "Malaysia Aviation Group partners with hoolah for travellers in Malaysia, SG, HK to pay for flights over time", "contents": "Malaysia Aviation Group (MAG)Through this collaboration, travellers in Malaysia, Singapore and soon Hong Kong, can now book their getaway with MAG\u2019s main airline, Malaysia Airlines online and pay for their flights via hoolah\u2019s flexible three-month, interest-free payment option, both parties said in a statement. This means that travellers can fly to their destination and enjoy their vacation before paying for the ticket in full while spreading the cost over three monthly interest-free instalments, it added. This partnership comes at an opportune time as travel is picking up in Singapore where its borders are already open to 30 countries/regions including Australia, South Korea, and Switzerland under the Vaccinated Travel Lane (VTL) scheme, and the anticipated soon-to-launch VTLs with Greece and Vietnam. As a member of the Travel Safe Alliance Malaysia (TSAM), Malaysia Airlines will continue to facilitate safe and seamless travels to support Malaysia\u2019s #ReopeningSafely strategy.   \u201cWe are excited to collaborate with hoolah as it provides another payment option and flexibility for customers to book their flights with Malaysia Airlines. This marks our first-of-its-kind partnership with a BNPL provider in Asia, and it couldn\u2019t be timelier as we anticipate growing demands for travel with the reopening of our borders soon,\u201cMalaysia Airlines is committed to facilitating safe and seamless travels to all our guests, and now, we are taking the worry out of planning a trip, as they\u2019ll be able to book and enjoy their getaway ahead of time, before paying for their trip through interest-free instalments. We invite travellers to take this opportunity to explore new destinations and Fly Confidently with Malaysia Airlines, as we have put in place extensive health and safety measures on-ground and in-flight so travellers can have a fulfilling journey with Malaysian Hospitality,\u201d said Lau Yin May, Group Chief Marketing and Customer Experience Officer of Malaysia Airlines. Arvin Singh, Chief Executive Officer and Co-Founder of hoolah said  :\u201cWe are thrilled to be partnering with MAG in Asia and support their business objectives as we push forward together to accelerate the recovery and growth of the travel and tourism industry. As countries in the region gradually open up their borders, we look forward to making travel more accessible and affordable for travellers, along with the flexibility to pay for their holiday over time. \u201d MAG is a global aviation organisation comprising three focused business portfolios from airlines, aviation services and E-commerce and travel services businesses. Its current Airlines business portfolio that serves the global, domestic and segmented market comprises Malaysia Airlines \u2013 the national carrier of Malaysia, Firefly and MASwings \u2013 the regional airlines focused on serving communities across Malaysia, and AMAL by Malaysia Airlines \u2013 one-stop pilgrimage travel solutions centre. MAG also focuses on aviation services business such as maintenance, repair and overhaul (MRO), cargo, ground handling and training that houses MAB Engineering, MASKargo \u2013 one-stop cargo logistic and terminal operations service provider, Aerodarat \u2013 one-stop ground handling solution provider and MAB Academy \u2013 one-stop aviation and hospitality centre of excellence. Its Journify, the integrated one-stop travel and lifestyle digital platform represents the e-commerce and travel services business portfolio, focusing on providing end-to-end travel solutions, complementing its established strength and expertise in the airline and aviation services businesses. Launched on March 1, 2018, hoolah empowers shoppers to afford the things they need today responsibly and pay later via 3 interest-free monthly instalments. Active in Singapore, Malaysia, and Hong Kong with over 2,000 merchant partners, it connects merchants with shoppers wherever they are, promising a convenient, seamless and excellent shopping experience for all. Singapore shopping and rewards platform ShopBack to acquire BNPL player hoolah"}, {"url": "https://technode.global/2022/03/11/airasia-parent-capital-a-unable-to-get-120m-govt-guaranteed-loan/", "page": 59, "title": "AirAsia Parent Capital A unable to get $120M govt-guaranteed loan", "contents": "Capital A BhdThe conditions include a joint and several guarantee from its founders Tony Fernandes and Kamarudin Meranun, as well as for the company to submit a regularisation plan which will also be approved by the stock exchange Bursa Malaysia, Capital A said in a regulatory filing on Thursday. The regularisation plan is to remedy Capital A\u2019s consolidated shareholder equity to be above MYR40 million and 25 percent of share capital (excluding treasury shares) or for the company \u201cto obtain a time extension to provide the regularisation plan from Bursa Malaysia for the matching tenure of the DPGS Club Facility. \u201d\u201cCapital A is exploring other available debt financing alternatives with acceptable terms suitable to the operations and financing requirements of the company,\u201d the company said in the filing.  Capital A, formerly known as AirAsia Group Bhd, has received approval from Danajamin Nasional Bhd for the club facility in October last year. The loan, 80 percent of which is guaranteed by the government, is earmarked for working capital purposes, which will support staff costs and key operating expenses such as aircraft maintenance. The loan is supposed to be disbursed as part of a COVID-19 economic stimulus package from the Malaysia government. Danajamin Nasional, the country\u2019s sole financial guarantee insurer, is half-owned by the Finance Ministry of Malaysia. In January, Capital A has been categorized as a The group has been aggressively building its digital businesses and its ASEAN Super App over the last two years as most of AirAsia\u2019s planes were grounded due to the ongoing COVID-19 pandemic. It has introduced The group has hoped to build its super app, modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offer a variety of services including ride-hailing, food delivery, and payment services. Capital A posted a net loss of MYR3.12 billion ($744 million) in 2021, narrowed from MYR5.11 billion ($1.22 billion) in 2020, mainly due to strict cost control measures. The revival of the airline industry, particularly Asean countries gradually easing travel restrictions has contributed to the group\u2019s reported growth in passengers carried and commendable load factor at 80 percent in the last quarter of 2021. This helped improve its financial position, the group said in February. On Tuesday, Malaysia Prime Minister Ismail Sabri Yaakob announced that the country will reopen its borders to international travelers starting April 1. He said visitors and Malaysian returnees, who are fully vaccinated are not required to undergo quarantine upon arrival. They, however, must undergo a RT-PCR test two days before departure and a rapid test (RTK) upon arrival. AirAsia aims to become Asia\u2019s largest food delivery, ride hailing company \u2013 report"}, {"url": "https://technode.global/2022/03/10/aws-signs-new-cloud-framework-agreement-with-malaysia-to-power-public-sector-innovation/", "page": 59, "title": "AWS signs new Cloud Framework Agreement with Malaysia govt to power public sector innovation", "contents": "Amazon Web Services (AWS)The CFA enables Radmik Solutions, an IT systems integrator and technology service provider in Malaysia, and now an AWS managed service provider, to provide consulting and technology services to government agencies and contribute towards the growth of Malaysia\u2019s digital economy, AWS said in a statement. According to the statement, AWS is the first international cloud service provider to have concluded and signed a CFA with the Malaysian government, as part of its long-term commitment to support Malaysia\u2019s digital transformation. The statement also said that Malaysia\u2019s government agencies and departments can now access AWS Cloud services through a streamlined procurement model to drive innovation and digitize government services for citizens. The CFA removes the administrative overhead for individual agencies and departments through favorable, pre-negotiated contract terms and conditions, which streamlines the cloud adoption process for government agencies and helps them save costs as a result of the economies of scale achieved from the aggregated procurement. It said Malaysian government agencies now have a consistent approach to access and use all AWS services in any of AWS\u2019s 84 Availability Zones spanning 26 geographic regions around the world, without having to negotiate separate contract terms. They will be able to leverage the breadth and depth of more than 200 fully-featured AWS Cloud services, including AWS\u2019s industry-leading security capabilities, global infrastructure, and comprehensive security and compliance controls validated by third-parties. \u201cAligning to Malaysia\u2019s MyDigital initiative, the Government has published a \u2018Cloud First Policy\u2019 circular to provide guidelines for adopting cloud computing technology in the implementation of information and communications technology (ICT) projects to further improve public service delivery,\u201d said Adi Azlan, Principal Assistant Director of the Malaysian Administrative Modernisation and Management Planning Unit (MAMPU) at the Prime Minister\u2019s Department. According to AWS, the flexibility in access to AWS Cloud services encourages experimentation with new ideas to accelerate innovation within the Malaysian government, as well as the ability to deliver new citizen services more quickly and at a reduced cost. The AWS services offered include AWS Enterprise Support to provide close guidance and best practices, and AWS Professional Services for agencies that need to obtain more guidance on complex projects. It also noted the CFA is part of AWS\u2019s ongoing commitment to support the Malaysian government\u2019s Digital Economy Blueprint, which is the country\u2019s roadmap towards becoming a regional leader in the digital economy. AWS Malaysian customers include large public sector organizations, such as the Ministry of Higher Education and the Smart Selangor Delivery Unit in the Selangor State Government, as well as leading companies like Petronas and innovative startups like Storehub. According to the statement, the Department of Polytechnic and Community College Education in Malaysia\u2019s Ministry of Higher Education used AWS to reduce downtime in delivering education services on its cloud-based learning management system, Curriculum Information Document Online System (CIDOS). Their CIDOS is now the largest integrated cloud-based education platform in Malaysia\u2019s public sector, delivering a full year of academic curriculum online for over 110,000 students and 7,000 lecturers across 36 polytechnics. Additionally, the Selangor state government adopted AWS Cloud technology to build and run its Citizens Electronic Payments Platform (CEPat), which enables citizens to access paid government services on their mobile or through the web. It also said the Department of Statistics Malaysia (DOSM), which collects national economic and social statistics, became the first Malaysian federal government agency to migrate to AWS in 2020. While the agency typically only takes three months to conduct Malaysia\u2019s national census, it needed to maintain its costly on-premises infrastructure year-round. By switching to cloud services, DOSM now only uses cloud resources as needed, saving costs and improving scalability. DOSM migrated its citizen-facing services to the cloud using various AWS services and worked alongside AWS Partners Uberfusion and Integriti Padu (IPSB Technology) to handle traffic spikes, improve security, and help census workers access DOSM\u2019s cloud-based e-learning solution. On AWS, DOSM\u2019s census portal can handle 100 percent of its traffic at any time, including at a peak of 200,000 users. In total, DOSM helped nine million users access Malaysia Census Data on AWS. AWS said it has an extensive network of AWS Partners in Malaysia, such as Maxis Enterprise and Radmik Solutions, who help support Malaysian businesses and organizations in their cloud journey. Radmik Solutions will offer consulting and technology services to government agencies as the local Managed Services Provider in the CFA. \u201cWe are delighted to collaborate with the world\u2019s leading cloud services provider to accelerate cloud adoption in Malaysia\u2019s public sector. This collaboration will give us the speed and connectivity to foster greater innovation and accelerate our customers\u2019 digital transformation,\u201d said Adam Roslly, Managing Director of Radmik Solutions. To help accelerate innovation with the Malaysian government, AWS said it will provide training support for selected federal government employees via on-demand digital courses, facilitated training events, and instructor-led classroom training. These initiatives aim to help government employees develop the skills and expertise needed to implement cloud technologies at scale, make better data-driven business decisions, and innovate new services to drive improved outcomes for citizens. This training support is part of AWS\u2019s broader commitment to help develop a digitally-trained workforce to power Malaysia\u2019s digital economy. In January 2022, AWS launched the re/Start program in Malaysia, through free cloud computing courses offered by Malaysia-based UNITAR International University. \u201cWe are excited to support the Malaysia government, in collaboration with AWS partner Radmik Solutions, to help build the digital future of the country. This CFA will make it easier for government agencies to procure AWS services, and enable them to use the cloud to rapidly experiment at a lower cost and with increased flexibility. It will pave the way for an accelerated cloud adoption journey in Malaysia by removing barriers in government technology procurement, allowing government agencies to focus their time and resources on their core mission of improving citizen services,\u201d said Eric Conrad, managing director of worldwide public sector for ASEAN at AWS. Malaysian government entities MaGIC & Penjana Kapital collaborate to offer seed stage startups better funding access"}, {"url": "https://technode.global/2022/03/10/malaysias-myeg-launches-global-nft-marketplace-known-as-nft-pangolin/", "page": 60, "title": "Malaysia\u2019s MYEG launches global NFT marketplace known as NFT Pangolin", "contents": "MY E. G. Services Berhad (MYEG)It said in a statement that the global NFT marketplace supports the issuance and trading of NFTs and is set to operate on the soon-to-be-launched Zetrix Layer 1 blockchain network which serves as a parallel chain to the International Backbone and Supernodes of Xinghuo, China\u2019s national blockchain infrastructure. According to the statement, NFT Pangolin currently supports Ethereum. It will also introduce Zetrix-based NFTs, providing for lower gas fees and carbon footprints which not only decreases financial barriers to entry for participants but is also eco-friendly and in line with the industry\u2019s move towards sustainable ESG practices. Hence, the support of multichain NFTs will be a unique value proposition offered by NFT Pangolin. Furthermore, it said issuers of NFTs on NFT Pangolin will be able to market these NFTs in China as digital collectibles where there are strict regulations on trading of NFTs but collectors may buy them as long-term collectibles. \u201cWith Zetrix\u2019s plans to enable a new wave of innovation and the increasing tokenization of all forms of asset ownership, the introduction of Zetrix-based NFTs in our Marketplace is an important step towards achieving that objective. We believe that the application of NFTs will go far beyond digital art and we will be pioneering NFTs which are pegged to ownership of mainstream assets, for example, ownership of your vehicle registration number for a start,\u201d said Wong Thean Soon, Group Managing Director of MYEG. NFT, a non-interchangeable unit of data, token or asset stored on the blockchain that can be authenticated, sold and traded, has seen exponential growth in popularity among artists and investors alike in recent years. As an ever-evolving company, MYEG sees this as a springboard into a global market to support the creative arts and unlock future innovations built atop smart contracts. As NFTs have started to become available on multiple chains across the globe, Zetrix will strive to enable the cross-chain trading of NFTs. NFT assets may be associated with digitalized files, such as photos, videos, and audio and its applications can also include physical items, such as physical art. With this launch, NFT Pangolin aims to be the platform of choice for ASEAN NFT creators and has set a bold target of reaching a global audience. The platform allows users to mint, sell and trade NFTs. In the meantime, the platform is working with Imperium Universe, which has listed artists like Vinn Pang and Faezal Tan, and will be adding others in the coming months. Moreover, as part of its aggressive expansion plans, NFT Pangolin will announce key partnerships in the coming months to make the platform an ASEAN-wide home for talents. It is welcoming more artists and partners to join its platform on its journey in pushing the boundaries of this new digital frontier. In fact, the platform has already onboarded both traditional and digital artists alike, such as Yazeed Kayoom and Johan Ishak, with their collections now available for sale on the platform. NFT Pangolin offers aspiring NFT artists, celebrities and creative talents, including brands, full product development and marketing services, including a lazy minting option for fixed priced items, where the minting cost is paid by buyers during the purchase. \u201cWe are building support for physical artworks as we have received a lot of interest from traditional artists and art galleries who want to enter the NFT space. While the regional space of creative talents is excited to get into the NFT industry, there\u2019s still a lot of work needed to educate the mass market of buyers about the benefits and value of owning any NFTs and their potential application outside of the creative world. To solve part of this, we are building a gamified educational tool for upcoming campaigns with influencers, celebrities and brands,\u201d said Mohamad Johan Nasir, the Business Development Director (SEA) of NFT Pangolin Technologies Sdn. Bhd. The platform is confident that, as a product of the well-established MYEG, it will be able to overcome the barriers to not only reach its targeted potential customers worldwide, but also to nurture the public\u2019s acceptance of NFTs. \u201cAnother disadvantage for the individual issuers is the high marketing costs needed to promote their products to the world. We understand that pain. Being part of the NFT Pangolin tribe and MYEG ecosystem will enable them to get the much sought-after exposure, as we expand our marketing efforts,\u201d said Johan. While there may be a lot of hype associated with NFTs globally, the entry of MYEG, as a public listed company, into this space only hints at more exciting things to come as the new NFT marketplace player in the region. With NFT Pangolin and Zetrix, MYEG takes another step ahead in its digital transformation plans towards an innovative and integrated future. Malaysia property developer Hatten Land partners Singapore FinTech Hydra X to develop and operate cryptocurrency exchanges"}, {"url": "https://technode.global/2022/03/10/carsome-appoints-digbijoy-shukla-as-head-of-merger-and-acquisition-and-ecosystem-strategy/", "page": 60, "title": "Carsome appoints Digbijoy Shukla as Head of M&A, Ecosystem Strategy", "contents": "Malaysia-based car e-commerce platform In this new role, Shukla\u2019s key responsibility is to develop an end-to-end ecosystem strategy for Carsome to ensure a seamless experience throughout the automotive ownership journey, Carsome said in a statement. It includes staying close to the automotive ecosystem in Southeast Asia and bringing in valuable Merger and Acquisition (M&A) targets and partnerships for the company; developing an integration strategy to create synergistic values with existing business units; and, building the M&A and Ecosystem team regionally, it added. Carsome Co-founder and Group CEO Eric Cheng said that the entire Carsome team is excited about the growth prospects brought in by Shukla and his team. \u201cCarsome\u2019s vision has always been about creating an end-to-end yet open, transparent and collaborative automotive ecosystem powered by technology and data. The appointment of Digbijoy is timely as he will enable us to continue our customer-focused mission, paired with industry participants to make the car ownership experience better in Southeast Asia,\u201d said Cheng. Shukla is an experienced professional, bringing with him nearly two decades of wide-ranging experience across diverse sectors including marketing, operating, investment and venture building across Southeast Asia and India. Prior to Carsome, he spent over six years with leading cloud platform Amazon Web Services (AWS), where he led the startup and new venture business development function in Southeast Asia and prior to that in India, enabling startups to scale with the best help of the AWS and broader Amazon\u2019s ecosystem. He also used to manage the country office for business venture catalyst Ennovent India, where he was instrumental in managing business development, operations and new business launch, which is India\u2019s first impact angel group, Ennovent Circle. Before that, he was a founding member of EdTech startup TenMarks. INC, which was acquired by Amazon in 2013. Shukla is also an angel investor and has a personal angel portfolio of 21 startups. \u201cI am humbled and grateful for the opportunity to work with such an inspiring team, who are constantly pushing the boundaries of innovation powered by relentless execution on behalf of our customers, to bring them peace of mind through the entire lifecycle of their vehicle ownership experience. I look forward to contributing to the expansion of Carsome\u2019s vision and creating the most trusted vehicle ownership ecosystem powered by technology and data by driving synergetic business value via strategic partnerships in Southeast Asia. \u201d Shukla said. Shukla\u2019s appointment is an important move that reinforces Carsome\u2019s commitment to drive ecosystem expansion across the region, complement the car selling and buying experiences, bring more choices, enhance trust and increase transparency to its customers, dealers and partners regionally. It comes after the company\u2019s recent announcement of completing its acquisition of iCarAsia, a leading listing and content automotive platform in Southeast Asia. Shukla was also involved in the transaction process. This is another important step in the company\u2019s continued efforts in strengthening the group\u2019s leadership team, with other recent senior appointments being Juliet Zhu as Group President, Ravi Shankar Mallavarapu as Chief Marketing Officer, Andrew Mawikere as Country CEO of Indonesia, and Siwaphume Lertsansaran as Country Managing Director of Thailand. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, it aims to digitize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It currently has more than 3,000 employees across all its offices. Carsome plans to build more used car refurbishment centers in Malaysia, Indonesia & Thailand"}, {"url": "https://technode.global/2022/03/09/malaysias-vase-ai-raises-seed-funding-led-by-indelible-ventures/", "page": 60, "title": "Malaysia\u2019s Vase.ai raises seed funding led by Indelible Ventures", "contents": "Vase Technologies Sdn Bhd (Vase. ai)This new round of funding was led by Indelible Ventures, along with their existing investors, Vase. ai said in a statement. The investment from Indelible Ventures will be poured into aggressive geographical expansion and enhancing the artificial intelligence (AI) technology behind the Vase. ai platform. Vase. ai is an AI-powered self-service platform that provides companies with fast and reliable insights into consumers, markets, brands, products, and more to support their marketing and product decisions. \u201cOur platform helps companies make better and smarter decisions when it comes to marketing and product decisions. The investment and support from a partner like Indelible Ventures will help us significantly as we enter a new phase of growth. We look forward to a long partnership with them as we continue our mission to make consumer and market insights more accessible to the millions of brands in ASEAN,\u201d said Julie Ng, Chief Executive Officer and Co-Founder of Vase. ai. Vase. ai was founded in 2015 with the mission of making human insights accessible to everyone instantly. It was built as an answer to more traditional market research firms that lack the flexibility and speed necessary for fast-growth and nimble businesses. As a technology startup, Vase. ai harnesses its expertise in AI to produce high-quality market research at an affordable price and within 24 hours. The ability to bring all digital data points\u201cVase. ai provides a high value-add solution in an exciting space that taps into the fact that consumer insights and habits are changing faster than ever before. They have the technology, know-how and a great track record in the region, so we know our investment will further accelerate their, already impressive, regional growth. We\u2019re excited to be working with a strong founding team and look forward to seeing them grow the business even further,\u201d said Kevin Brockland, Managing Partner of Indelible Ventures. Vase. ai has worked with leading brands in ASEAN and run over 600 projects for clients, including large brands such as Digi, Carsome, IPG Mediabrands, Systema, TNB, RinggitPlus. Malaysia\u2019s RHL Ventures scouts opportunities in ESG, healthcare & financial sectors as it finalizes Hibiscus fund"}, {"url": "https://technode.global/2022/03/08/malaysias-rhl-ventures-scouts-opportunities-in-esg-healthcare-financial-sectors-as-it-finalizes-hibiscus-fund/", "page": 60, "title": "Malaysia\u2019s RHL Ventures scouts opportunities in ESG, healthcare & financial sectors as it finalizes Hibiscus fund", "contents": "RHL Ventures\u201cWhile these trends may not seem new, these themes have started gaining momentum in recent times,\u201d the Malaysia-headquartered VC firm Co-founder and Co-Managing Partner Raja Hamzah Abidin told \u201cWe are expecting Southeast Asia\u2019s startup ecosystem to flourish, with ESG being one of the core pillars for investing, as investors look to invest in SEA beyond the pandemic, especially in the food tech and AgriTech space. It is an area that has historically been underinvested in ASEAN. \u201cHamzah said the ongoing COVID-19 pandemic continues to disrupt the traditional way of healthcare distribution, therefore healthcare services will continue to be in focus. \u201cThis sector has immense potential for disruption and evolution, whether telemedicine, virtual patient monitoring, or innovative solutions that make digital health more accessible. We expect this trend to continue,\u201d he explained. The financial sector is another sector that RHL closely looks at. \u201cSoutheast Asia has a huge unbanked or underbanked population. With digital financial services space heating up across the region, especially Indonesia, Vietnam, and the Philippines, we expect the unbanked population rate to decline in the coming years gradually,\u201d he said. The Hibiscus Fund is a venture capital fund managed by RHL and South Korea\u2019s Hamzah said the VC firm has raked in around $70 million and it is targeting to finalize the fund by the end of first quarter. Besides Hibiscus Fund, he said RHL is planning for another fund in 2023, but declined to elaborate. \u201cWe have a new fund in the pipeline in 2023, which we will only announce when the time is right,\u201d he said. On RHL\u2019s plan in 2022, Hamzah said the firm is on track to close another two deals by the end of the first quarter, after closing nine deals in 2021. \u201cWe anticipate the pace of deployment this year to be similar to 2021, allocating capital to new deals and also re-ups,\u201d he said. \u201cWe also plan to form further partnerships with the government and private sectors to elevate Malaysian small and medium enterprises (SMEs), enable the sustainable development of the digital economy, and create more avenues for regional expansion for startups. \u201dWithin Asean besides Malaysia, the main markets that the VC firm is looking at include Singapore, Indonesia, Thailand, and Vietnam as these countries display great potential in building successful private market businesses, Hamzah shared. RHL\u2019s portfolio companies include healthy Malaysia-based snacks e-commerce platform RHL continues to be bullish on the tech space in Southeast Asia, after the region saw a record year with more new unicorns emerging last year, accelerated by the COVID-19 pandemic. \u201cWe have seen many deserving and innovative tech companies in the private market that would greatly benefit from access to capital, network, and mentorship at the right time,\u201d he said. \u201cAs we move forward, we are looking to build and support innovative private tech companies that have the potential to disrupt and transform markets. Technology enables companies to grow exponentially and create a synergistic ecosystem where everyone can benefit from the value it makes. \u201dSoutheast Asia\u2019s startup ecosystem had its best year ever in 2021. Supported by excess liquidity globally, private investments in homegrown companies reached $25.75 billion last year. Venture-backed companies in the region collected at least $23.18 billion in equity funding and $2.57 billion in debt financing, according to As more foreign funds flocked into Southeast Asia, with more money chasing tech startups, Hamzah said its well-established startups ecosystem, strong investors, and a proprietary startup database system to capture ecosystem champions over the long term would serve as the firm\u2019s competitive edge. \u201cOur partnership with Korea\u2019s KB Investments and Malaysia Ministry of Finance\u2019s Penjana Kapital highlights the potential strategic value that we can bring to our portfolio companies,\u201d he said. \u201cThis strategic partnership enables us to expand our investment portfolio by networking and connecting with giant unicorns that wouldn\u2019t usually look at Malaysia yet. With the Penjana Kapital program, the startups can command a fair market value, gain better access to the capital and connect with the Malaysian stakeholders and significant government sectors, helping them scale faster and more efficiently. \u201dZooming into Malaysia, while the country\u2019s startup and VC ecosystem is often seen lagging its peers like Singapore, Indonesia, and Vietnam, Hamzah said the public-private co-investment program under the Penjana Kapital could support Malaysian startups ecosystem beyond capital investment which include resources-sharing in terms of technical knowledge transfer, cross-border network support to grow local startups beyond the home market. \u201cTo build a sustainable and resilient startups ecosystem in Malaysia, we should encourage local startups to leverage and enlarge Malaysia\u2019s uniqueness and continue to tap into less developed sectors of the digital economy including Islamic commerce and AgriTech,\u201d he said. \u201cRHL is committed to investing sustainably while creating long-term value for society and our investors. Some of the key areas it is currently looking at include food safety, security, and sustainability, empowering women entrepreneurs and economy, good company governance structure in startups and AgriTech,\u201d he said. \u201cWe believe that these areas will further flourish the Malaysian startup ecosystem, whereas we aim to build a more robust private market business in the region,\u201d he added. Based in Malaysia, RHL is a multi-family private investment firm focusing on Southeast Asia. Founded in 2016, the firm is currently led by Rachel Lau, Hamzah, and Jo Jo Kong. The firm typically invests in early stages companies (Series A/B fundraises) and it also participates in later-stage rounds. Besides Southeast Asia, it also invests opportunistically in other regions. The investment firm has attracted attention when it was first set up, mainly due to the family background of its partners and the advisors it managed to put together. Lau is the daughter of the late property tycoon Lau Boon Ann, who was a non-executive director at Malaysia-based On top of the network and family background, the partners also have experiences in investment management as well as the operations of businesses, among others. RHL\u2019s RHL Ventures\u2019 Hibiscus Fund targets final close of up to $100M, eyes opportunities in food, healthcare & mobility sectors"}, {"url": "https://technode.global/2022/03/07/malaysian-finance-platform-ethis-group-launches-ethis-global-platform-for-global-expansion/", "page": 60, "title": "Malaysian finance platform Ethis Group launches Ethis Global platform for global expansion", "contents": "Malaysia-based ethical investment and social finance platform operator Approved by the Capital Market Authority (CMA) \u2013 the Sultanate of Oman\u2019s regulator and supervisor of the capital market and insurance sector \u2013 EthisX is managed by Ethis Investment Platform LLC based out of Muscat, the Sultanate of Oman, and Kuala Lumpur, Malaysia, Ethis said in a statement. EthisX is unique in that it acts as a first-of-its-kind cross-border ethical private capital marketplace able to offer direct shariah-compliant investments into small and medium-sized enterprises (SME) companies and special purpose vehicle (SPV) projects from around the globe. \u201cIn our focus to #CirculateGood with our global community of impact investors and donors, we are committed to working alongside Oman CMA towards a successful global cross-border marketplace. With the approval of CMA, companies from inside and outside Oman can apply to raise funding. This, in turn, allows global investors access to shariah-compliant,According to him, EthisX will be rolled out in geographical phases starting with Oman. \u201cThe platform allows companies to raise funds through equity crowdfunding (ECF) and peer-2-peer (P2P) financing that includes sukuk and micro-sukuk. For P2P, EthisX is focusing on invoice financing, asset-backed financing, working capital financing, and Buy Now, Pay Later (BNPL) financing. ECF issuances will focus on startups and growth companies particularly in the tech sector,\u201d he said. According to him, EthisX will be leveraging on the immediate transaction volume from other Ethis platforms, targeting to grow transaction value per month by at least 10 times from current by the fourth quarter of 2022. \u201cWe want to push our market expansion plan through EthisX as aggressively as possible, and we would like to express our gratitude towards Oman CMA for believing in our vision and execution ability,\u201d he added. EthisX, regulated by Oman Capital Market Authority, is the first platform of its kind catering to shariah-compliant and impact-driven investors globally. Its platform provides investors and funders direct access to companies, issuers, and social campaigns from around the world with a focus on Asia and the Gulf region. \u201cOman is a bridge between emerging regions with the potential to extend to other parts of the world, and has great potential to be an emerging regional hub for Islamic finance and fintech. As the regulator and supervisor of the capital market and insurance sector in Oman, we value CMA\u2019s acceptance of EthisX as a platform that curates the capital marketplace. We aim to have EthisX become a valuable contributor towards realising OMAN VISION 2040, which emphasises the country\u2019s economic development that is anchored to Environmental, Social, and Governance (ESG) and Sustainable Development Goals (SDGs),\u201cFor the Group, EthisX as our next step forward makes the best strategic business sense as Ethis is amongst the early adopters of crowdfunding as an investment marketplace and is an Islamic fintech proponent,\u201d said Amran Mohd, Chairman of EIP. Umar Munshi, Co-Founder and Group Managing Director of Ethis elaborated :\u201cAs one of the pioneers of shariah-compliant crowdfunding, Ethis not only has proof of concept but also substantial experience and knowledge through the management of its platforms which prioritize deals with social impact so that the community can enjoy the benefits of their investments. \u201dEthis operates crowd-investment platforms approved by regulators in Indonesia, Malaysia and now Oman. Its platforms serve ordinary people, high-net-worth individuals, corporate, and government entities. It built its initial track record from 2016 to 2020 in social housing in Indonesia where its global community of investors from more than 50 countries funded development projects to build close to 10,000 homes. Since the onset of COVID-19, it has launched popular new investment products, including short-term, high-yield supply-chain financing projects in Indonesia and equity investment in \u2018future tech\u2019 startups in Malaysia. Its social finance marketplace GlobalSadaqah plays a vital role in matching donors and Islamic economy players to better distribute social finance and zakat to non-governmental organization (NGOs) and social enterprises. Binance and Cuscapi Bhd take strategic stakes in Malaysia fintech firm MX Global"}, {"url": "https://technode.global/2022/03/03/capital-a-venture-firm-bigpay-launches-first-fully-digital-personal-loan-product/", "page": 60, "title": "Capital A e-wallet unit BigPay launches first fully digital personal loan product", "contents": "Capital A e-wallet unit BigPay said in a statement its wholly owned subsidiary and a digital money lending license holder BigPay Later has launched its first personal loan product. This makes BigPay the first product to have a full digital personal lending product as part of its offering in Malaysia. BigPay said there has been an overwhelming demand for the personal loans product and it will be rolled out to more users over the coming weeks. BigPay Later Personal Loans is currently available to selected users and will be progressively rolled out to more and more people. \u201cThe pandemic has highlighted how important it is that people have access to versatile, easy-to-use financial solutions. Many underserved demographics in Malaysia lack access to the credit they need because they do not have the typically \u2018acceptable\u2019 credit history which is required by traditional banks \u2013 this  directly impacts the ability to build long term financial standing,\u201cWe have always been committed to democratizing financial services through accessibility and education across Southeast Asia. We believe that the launch of our personal loans product is unique with the level of transparency, the ease of use and the way in which we do our credit scoring that doesn\u2019t only look at the history of past loans, but also at customer behavior. The launch of the personal loans product brings us one step closer to bridging the financial inclusion gap. \u201d said Salim Dhanani,  Chief Executive Officer and Co-Founder of BigPay. The personal loans offered by BigPay Later have competitive interest rates which are lower than standard credit card rates and easier to apply for with it being an all digital process. Users can generate an instant quote using the in-app loan calculator to ensure affordability, then fill in their personal details via the app to apply. Additional documents are not usually required and the application can be approved within minutes. The personal product issued by BigPay Later is fully regulated by Malaysia\u2019s Ministry of Housing and Local Government (KPKT). Available on the BigPay app, the loan dashboard features a repayment schedule with a transparent breakdown of repayment installments and an auto-payment option to prevent users falling behind on repayments. Details such as the principal amount, interest, late interest and stamping fee are clearly highlighted instead of the standard lump sum so that users always know the payment amount and duration, as well as what they are paying for. \u201cWe are very proud of BigPay Later\u2019s launch of the first digital personal loans product. BigPay has the ability to leverage Capital A\u2019s rich database and customers that have strong loyalty to our brands. BigPay shares the same ethos and principles as Capital A and AirAsia: focusing on affordability, accessibility as well as inclusivity. We are excited that we can disrupt once again and give the common man, from small and medium-sized enterprises (SMEs), small entrepreneurs to the mass public, the same accessibility to easy, simple loans and other outstanding financial services,\u201d said Tony Fernandes, Chief Executive Officer of Capital A. BigPay is an ASEAN FinTech with Malaysian roots founded in 2017. It is committed to democratizing financial literacy, accessibility, and wellbeing in the region by providing transparent, simple and secure digital financial services. From payments to international transfers, bill payments, credit, micro-insurance and smart budgeting, its goal is to drive sustainable change for consumers and businesses across Southeast Asia. Since its inception in 2017, financial inclusion has been a core vision and mission of BigPay. The last four years have seen over two million Malaysians improve their financial health with BigPay. This has become a reality as BigPay has continuously added  multiple regulated financial products to its offerings, including an e-money account, international remittance, micro-insurance and budgeting. In November 2020, BigPay Later was named one of the eight companies in Malaysia to receive a provisional license for online money lending by the the Ministry of Housing and Local Government in Malaysia (KPKT), expanding BigPay\u2019s capacity to deliver better financial services for Malaysians. AirAsia changes name to Capital A to reflect new core strategy"}, {"url": "https://technode.global/2022/03/02/scaleup-malaysia-announces-investments-in-11-emerging-startups/", "page": 60, "title": "ScaleUp Malaysia announces investments in 11 emerging startups", "contents": "Growth stage accelerator ScaleUp Malaysia said in a statement the cohort which kicked off in August 2021 drew over 200 applications from 26 countries including Malaysia, the United States, Egypt, Indonesia, Singapore and Japan.20 companies were shortlisted to participate in Cohort 3 and placed into separate tracks, giving them exclusive access to Quest Ventures and Indelible Ventures respectively over the course of 16 weeks. The companies selected by Quest Ventures for co-investment were GuruInnovtif, Open Academy, MadCash, SpareXHub, VireServe, and WaSushi. Indelible Ventures selected Howuku, Kumo and MidWest Composites for co-investment. ScaleUp Malaysia also made direct investments in BizTech Asia and RECQA, alumni from its 2nd Cohort. Quest Ventures and Indelible Ventures look to announce one to two more companies at a later date. \u201cCongratulations to these amazing entrepreneurs. We applaud the ambitious drive, ingenuity and passion they displayed throughout the programme. At the very core, ScaleUp Malaysia Accelerator aims to nurture businesses, catapulting their growth beyond traditional boundaries to create the next generation of disruptive businesses,\u201d said Xelia Tong, Managing Partner of ScaleUp Malaysia. Ensuring the companies are well equipped to navigate future challenges, prime them for further growth and tap markets across Southeast Asia, each company will receive up to $60,000 in investment. Quest Ventures has shown a commitment to developing the Malaysian ecosystem and has grown a portfolio of 16 companies in the nation through its partnership with ScaleUp Malaysia over the last 12 months. \u201cWe truly believe that Malaysia has some of the best entrepreneurs in the region with a flair for innovation and an innate ability to understand cultures in various markets. We are excited to welcome these 6 new companies into our portfolio and work with them to build globally scalable businesses,\u201d said Jeffrey Seah, Partner of Quest Ventures. Indelible Ventures which launched in September2021 is on the lookout for tech-enabled Malaysian start-ups with business to business (B2B) products that are ready to scale internationally. Indelible has selected 3 companies to invest in from this Cohort. \u201cThe three companies we have selected have demonstrated remarkable sophistication in developing a product with global scale potential and have founders who are passionate to build great innovative businesses. We aim to be a champion of the potential of these entrepreneurs and play our part to elevate them onto investors\u2019 radars,\u201d said Kevin Brockland, Managing Partner of Indelible Ventures. ScaleUp Malaysia, through their Pegasus model, aims to groom startups in the growth and post-product-market fit stage into scaleup businesses with high revenue growth and increased profitability rates that attract follow-on investments. Since 2019, it has built a proven track record in helping growth-stage companies secure funding from leading investors. Thus far, over 30 startups have graduated out of the accelerator, collectively raising more than $14 million in capital and one exit. ScaleUp Malaysia has also opened registration for startups to state their interest to participate in Cohort 4. Quest Ventures Track:Indelible Ventures Track:New Investments by ScaleUp Malaysia:"}, {"url": "https://technode.global/2022/03/01/binance-and-cuscapi-bhd-take-strategic-stakes-in-malaysia-fintech-firm-mx-global/", "page": 60, "title": "Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global", "contents": "MX Global Sdn. BhdMX Global also landed another investment for Redeemable Convertible Preference Shares (RCPS) into the company by Cuscapi Berhad, a pioneer digital business solutions provider in Malaysia, MX Global said in a statement. These new capital injections will allow MX Global, a licensed fintech company, to build brand awareness, hire more high-quality talent and develop new features within Malaysia\u2019s regulatory framework. MX Global said that the strategic cooperation further demonstrates the continuous growth and development of the digital assets industry, which will bolster the cryptocurrency market in Malaysia and South-East Asia. The investments from two major players, Binance and Cuscapi Berhad, will not only allow MX Global to venture into a much bigger clientele pool, but also propel MX Global to become the major player in the industry. \u201cMX Global aspires to be the preferred liquidity platform for digital asset or cryptocurrency investors and token issuers locally and internationally. The cooperation of Binance will not only support us in achieving this goal but should also provide the most capital-efficient opportunity for us to align and compete with other global players in the industry. We will continue building a safe, easy and real digital asset ecosystem for our customers,\u201d said Fadzli Shah, Chief Executive Officer of MX Global. With this initial effort to support sustainable growth in the cryptocurrency market in Southeast Asia, Binance hopes to work with regional and local partners to drive further collaborations. \u201cWe see potential in Malaysia given its respected and innovative crypto and blockchain community. We believe that partnering with MX Global will be a springboard to new opportunities, both in Malaysia and the region as a whole as well as across the entire crypto and blockchain ecosystem,\u201d said Changpeng Zhao (CZ), Founder and Chief Executive Officer of Binance. Speaking on the investment from Cuscapi Berhad, Fadzli Shah expressed his excitement in working together with the major digital business solutions provider that holds an extensive list of well-known clients. \u201cI believe that this cooperation will not only expand the potential services that MX Global can offer in the future, but it will also allow the company to innovate and revolutionize the payment system in Malaysia,\u201d he added. Cuscapi Berhad Executive Chairman Jayakumar Panneer Selvam said that this historic collaboration between digital assets and payment systems will create integration and synergy that will bring together the high potential of the use of cryptocurrency to conduct commerce. \u201cWith blockchain and smart contracts being increasingly incorporated into our lives, the potential for this will be massive,\u201d he said. MX Global is a Kuala Lumpur-based fintech company with a mission to create a highly accessible and secure cryptocurrency trading platform that allows merchants, consumers, and traders to transact cryptocurrencies. It envisions the MX Global trading platform to be the preferred liquidity platform for cryptocurrency investors and token issuers in Malaysia. In light of the demand for cryptocurrencies, the company has created a user-friendly platform for users to begin trading in Bitcoin and Ethereum. It offers end-to-end solutions in storing, buying and selling cryptocurrencies within its exchange and its compliance management system reflects strong integration of cyber-security controls. Aside from that, it has also appointed leading professional advisory and legal firms to provide support in the areas of advisory, legal, compliance, business operations and risk management design to continuously strive to be the leading example of best practices in the industry. MX Global is also one of the four Recognized Market Operator-Digital Asset Exchange (RMO- DAX) that has been granted full approval by the Securities Commission Malaysia (SC) in July 2021 and complies with the standards and practices to uphold investor protection in conducting safe and secure trading of cryptocurrencies in the country. Binance is the world\u2019s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, its platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. Cuscapi Berhad is a public listed company on the main board of the stock exchange in Malaysia. Established in 1978 as DTS (Malaysia) Sdn Bhd, Cuscapi is recognized as a pioneer supplier in digital business solutions in Malaysia. It was listed on the ACE Market in 2004 and changed its name to Datascan Berhad and subsequently in 2007 to Cuscapi Berhad, as a public company. The company offers business management solutions, information technology security solutions, consulting services and contact center outsourcing services for businesses across a variety of industries, including retail, hospitality, automotive, telecommunications, finance and public services. Crypto exchange Binance to invest $200M in Forbes"}, {"url": "https://technode.global/2022/03/01/malaysia-needs-big-innovation-purpose-to-stay-ahead-says-its-government-agency-mranti/", "page": 60, "title": "Malaysia needs \u201cbig innovation purpose\u201d to stay ahead, says its government agency MRANTI", "contents": "An ambitious purpose on innovation, a synergised ecosystem and a \u2018bridge\u2019 between research and commercialization \u2013 these are among the elements needed for Malaysia to pull ahead in the region and achieve its ambition to be among the top 20 most innovative nations by 2030 in the Global Innovation Index, said MRANTI said in a statement Malaysia is currently ranked 36, and correspondingly, gross domestic product (GDP) growth is currently significantly lower than its potential output level with a gap of 49 percent. Cited the Malaysia Knowledge Economy Study, it said every 1 per cent increase in innovation capacity increases a country\u2019s GDP per capita by 0.36 per cent. For Malaysia, it said an increase in innovation production could translate to $1.21 billion additional to its GDP of USD336 billion, even as the 12th Malaysia Plan has outlined innovation as a key enabler in economic growth. In the first of a series of industry discussions aimed at fostering tighter synergy in the ecosystem, initiated by MRANTI, panel experts said that Malaysia has incredible potential, but it needs tighter collaboration within the innovation ecosystem that will support its success. Furthermore, a strong technology transfer office mechanism between academia, government and investors to accelerate innovation to commercialization is needed. While as much as 80 percent of research in Malaysia today is being conducted in Malaysia\u2019s higher learning institutions, it cited WIPO data and said just over 9,000 patent applications were made in Malaysia between 2013 and now. However, it said this is a fraction of the 120,000 research publications Malaysia has produced in the same period. \u201cTo be absolutely candid, our ecosystem is still fragmented. Our Return on Ideas, or ROI, is not yet where it should be. This is why we need to ask ourselves some hard questions: Why aren\u2019t we innovating enough? And, even though we have so much talent, the private sector is still not investing enough in research and development (R&D) \u2013 why?\u201d said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. \u201cAs an ecosystem, we have come a long way, but there\u2019s so much more that needs to be done. True innovative spirit most cannot be unleashed by an inaccessible and fragmented ecosystem. Lack of funding access, limited resources including skilled talent, and policies that have yet to catch up to potential are just few of the many areas that need to be urgently addressed,\u201cMany of our research and higher education institutes produce amazing discoveries every year. They publish many research papers and discover great inventions in their labs and R&D facilities. We have some amazing talent in our academia,\u201cBut that\u2019s where they stay. Many do not go on to commercialization, because they do not have access to funding or expertise to scale, and many struggle to file patents, which can be complex and take years,\u201d she added. According to MRANTI, Malaysia\u2019s commercialization rate is only at an estimated 5 to 10 percent currently, compared to some highly-developed economies like Japan or the United States, where commercialization rates are as high as 60 percent. Meanwhile, Cancer Research Malaysia Chief Scientist Officer Teo Soo-Hwang said that the critical infrastructure to enable success in commercialization is not yet fully-developed in Malaysia. She added that many of the world\u2019s most esteemed education institutions not only have great academic units, but also commercialization units, expertise and funding that enable them to commercialize their research. \u201cIt is this confluence of manpower and funding that we absolutely need in Malaysia. Cancer Research Malaysia and other research institutions have already shown that we can produce cutting edge research, some of which is ready for commercialization, but we need more support in order to commercialize,\u201d she said. Furthermore, she added, Malaysia needs its \u201cbig innovation purpose\u201d, and to be clear as to what innovation areas to work on, and Malaysia can offer on the world stage in order to attract the talent, investment and recognition it needs to achieve its ambitions. \u201cWhat do we do well above the rest that will allow us to stand out? For example, Cancer Research Malaysia has focused on research in Asians and in that way, we have brought a value proposition to an international platform \u2013 it is clear that we need to continue to be clear about how we are unique and excel in these areas,\u201d she said. Universiti Malaya Vice Chancellor Mohd Hamdi Abd Shukor also said a lot of academic research is for the purpose of fundamental discovery but these do not necessarily need or can be commercialized. \u201cMore work needs to be done is in applied and industry research, where problems can be met with solutions,\u201d he said. According to him, researchers often have difficulties in wearing the many hats needed in the commercialization journey. \u201cWhat we\u2019re asking professors to do, when they have a patent, is to \u2018spin-off\u2019 into different roles; opening up a company, for example. And I\u2019ve seen this end in failure a lot. Sustainability is an issue. It\u2019s clear that this method is not working. Researchers are not always businessmen, and they should be building capacity in research. Taking the patent through into the business world should be done by the experts in business,\u201d he added. He also noted that the professor cannot be the researcher, entrepreneur and venture capitalist at the same time. \u201cWe need to look at the entire value chain again (to better mark out roles and responsibilities),\u201d he said. As for Thomas G Tsao, Founding Partner of venture capital firm Gobi Partners, an initiative like MRANTI is much needed. \u201cAs a venture capital firm, we welcome any initiatives that encourage more collaboration and communication. We welcome partnerships. What MRANTI is doing here, bringing together stakeholders who weren\u2019t necessarily talking to each other in the past, is fantastic,\u201d he said. Gobi has invested in 27 early-stage startups in Malaysia, and also has its ASEAN headquarters in Malaysia. In this respect, Dzuleira said that MRANTI is working to be that connector between the various stakeholders in the ecosystem, functioning as a single platform, or \u201cglue\u201d between the key players in the ecosystem. \u201cThis is one of many more engagement sessions with the ecosystem. We will drive continuous innovation, and be the one-stop research commercialization agency with the resources to accelerate the commercialization of innovative ideas and concepts to impact,\u201cWe connect problem statements with solutions, bridging collaboration between public and private sectors to increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping,\u201d she said. According to the statement, MRANTI will also connect researchers to the industry, and in doing so, ramp up the number of research or innovations that can be commercialized. It will also be working closely with the Ministry of Science, Technology and Information (MOSTI) and the Economic Planning Unit (EPU) in Malaysia with the vision to play a critical role in bringing together the private and public sectors. \u201cHowever, MRANTI\u2019s mandate is not a silver bullet. There will be no magic trick involved. Instead, what will truly be the ingredient for success is consistent, persistent and structured engagement among all stakeholders, so that everyone is united in this journey towards commercialization,\u201cMRANTI believes that the national GDP will improve, more jobs can be created, and Malaysia will attract more foreign investment, to ensure products and solutions are more affordable, available and accessible towards improving quality of life for all Malaysians, and to ensure Malaysia becomes a high-tech, high-income nation,\u201d she said. Malaysia launches new technology commercialization agency MRANTI, merging tech-focused agencies TPM & MaGIC"}, {"url": "https://technode.global/2022/02/25/fave-launches-southeast-asia-tech-hub-in-kuala-lumpur-malaysia/", "page": 60, "title": "Fave launches Southeast Asia tech hub in Kuala Lumpur, Malaysia", "contents": "FaveAs a part of Fave\u2019s efforts in evolving the fintech landscape, the new tech hub will serve as a platform to groom top class engineering talents and drive digital innovation in Southeast Asia, Fave said in a statement. In collaboration with training partner iTrain and universities, Fave\u2019s tech hub aims to onboard 100 engineers in 2022. The tech hub will provide participants with training, professional certification, mentoring and coaching, product development projects, as well workshops and eventually placement offerings across Fave and Pine Labs companies. Kickstarting with the first batch, the programme will mainly focus on fresh graduates, making them industry-ready. Besides opening to fresh graduates from codingAs a recurring programme, the tech hub will be the foundational first step in Fave\u2019s commitment to continuous growth of the engineering talent pipeline in Southeast Asia. \u201cIt is beyond essential to invest into growing talent that is the backbone of the booming fintech ecosystem in the region. We are proud to be taking a leading role in building a pipeline of talent that will benefit the entire ecosystem and digital innovation in the region. With the launch of Fave\u2019s tech hub and our versatile training approach, we are confident in shaping the next generation of experts to revolutionise SEA (Southeast Asia)\u2019s fintech landscape. We only see this as the first step in fostering world-class product engineering\u2014a booming career path in Malaysia, Southeast Asia and beyond,\u201d Arzumy MD, Chief Technology Officer of Fave. Fave\u2019s roadmap to building world-class Fintech Engineering talents in Southeast Asia is anchored by three pillars:1. Ecosystem Building: Partnering with top educational institutions in Malaysia to identify and upskill talent through adjunct lectures, development workshops, career guidance and mentoring workshops. This will be coupled with an expanded internship programme to expose participants to ecosystem partners that employ digital technologies required to create advanced digital solutions. Tech companies and service providers in high-potential engineering communities will also be re-engaged with events and meet-ups to accelerate the overall mission of Fave.2. Readiness Training: Occupational training and skills development will be achieved through a strong partnership with iTrain, who will helm the rigorous 6-week technical and soft-skill modules.3. The \u201cGood to Great\u201d Initiative: A post-training programme segment where upskilled participants are assigned responsibility to empower and grow other engineers, as well as non- technical team members and manage full project streams. Fave is also on the lookout for individuals with a methodical and structured thought process with strong collaboration skills, quick understanding of new concepts and strong communication abilities. Over a period of 4 cohorts scheduled on March 21, May 9, July 4 and September 5, Fave aims to double its internship intakes that will raise the bar in product engineering in Southeast Asia. Fave is one of Southeast Asia\u2019s leading fintech platforms, providing a smart payment app for the next generation of consumers to pay and save. It also empowers offline businesses to grow and digitally connect with their customers in a whole new way. The company is on a mission to maximize joy and value in every shopping experience and accelerate the offline world\u2019s transition to the digital economy. It currently operates in over 35 cities across Malaysia, Singapore, Indonesia and India. It is part of Pine Labs Group of Companies\u2014a merchant platform company that provides financing and last-mile retail transaction technology."}, {"url": "https://technode.global/2022/02/24/malaysias-ctos-digital-finalises-issue-price-at-0-38-for-proposed-placement-to-raise-41-4m/", "page": 61, "title": "Malaysia\u2019s CTOS Digital finalises issue price at $0.38 for proposed placement to raise $41.4M", "contents": "After recently obtaining shareholders\u2019 approval to undertake placement of up to 10 percent of total issued shares, Malaysia credit reporting agency CTOS Digital said in a statement the proceeds would partially fund the group\u2019s MYR205.8 million ($49.02 million) acquisition of a 49 percent stake in fintech specialist Juris Technologies (JurisTech), with the balance funded by bank borrowings. The acquisition is slated for completion in the first quarter of 2022. Under the proposed primary placement exercise, the group would issue a total of 110 million new shares representing 5 percent of the total number of issued CTOS Digital shares. Upon the listing of the new shares in early March 2022, CTOS Digital\u2019s issued share capital would enlarge from 2.20 billion shares to 2.31 billion shares. The issue price per share of MYR1.58 represents ($0.38) a 6.5 percent discount to five-day volume weighted average price (VWAP) up to and including February 21, 2022, being the market day immediately prior to the price fixing date. Following the strong demand for this placement, private equity firm Creador, via Inodes Ltd, placed 185 million shares it owns in CTOS Digital at the same price of MYR1.58 ($0.38), its first placement since the Company\u2019s initial public offering (IPO) in July last year. This pares Inodes\u2019 shareholding in CTOS Digital from 40 percent to 30.1 percent post issuance of the primary placement. \u201cThe board decided to only raise MYR173.8 million ($41.4 million) through the proposed placement with a view of optimizing the amount of equity and debt raised to fund the company\u2019s acquisitions and to defray the estimated expenses related to the proposed placement. The proposed placement was oversubscribed,\u201d said CTOS Digital. More importantly, it said CTOS Digital is marking an eventful start to the new year, firstly by obtaining shareholders\u2019 approval for its largest acquisition ever in JurisTech, and subsequently gaining investors\u2019 confidence for this placement exercise. \u201cThis support certainly spurs us forward in our growth plans as outlined in our strategic roadmap,\u201d it said. According to CTOS Digital, the management has internally targeted strong growth in its net profit by up to 30 percent circa MYR75 million ($17.87 million) to MYR80 million ($19.06) in the current financial year ending December 31, 2022 (FY2022), buoyed by new contributions from JurisTech as well as the stronger uplift in its existing businesses in line with the rebounding economy. \u201cWe believe we are only at the cusp of a new growth phase and are optimistic of our prospects going forward,\u201d it said. Meanwhile, Creador said that it did not envision any further sale in the foreseeable future and remains excited about the long-term growth of the company. \u201cThe firms sees tremendous growth opportunities in new product solutions for key accounts and higher penetration of small medium enterprise (SME) market. In addition, JurisTech bring new solutions which are relevant to CTOS Digital and there are significant synergies,\u201d it said. Based on a report issued by International Data Corporation in 2020, it said Southeast Asia\u2019s credit reporting and data solutions industry is expected to grow at an annual compounded growth rate (CAGR) of 10.8 percent from 2021 to 2025. \u201cThis represents a significant opportunity for CTOS Digital, which counts some of Southeast Asia\u2019s largest credit reporting agencies in its portfolio. The post-pandemic recovery is also expected to drive growth, which in turn will drive the utilization of credit,\u201d it said. It also said that CTOS Digital has a clear and strategic growth roadmap to capitalize on the digital and credit information opportunities in ASEAN. \u201cWith the strong macro tailwinds and some of the industry\u2019s most experienced talents in its senior leadership team, we are confident the company will be able to maximize these opportunities and meet growth expectations in the coming years. We are therefore committed to remaining a long-term investor, which will allow us and the investors we represent to realize consistent and sustainable returns in a fast-growing category,\u201d it said. CTOS Digital is the holding company of CTOS Data Systems Sdn Bhd, a credit reporting agency in Malaysia. It also has 22.65 percent stake in Business Online Public Company Limited (BOL), the credit information and risk management provider in Thailand. Founded in 1990, CTOS Digital offers a broad suite of innovative digital products and credit risk management solutions and services which gives it a solid platform to thrive not just in credit reporting, but also in digital credit decisioning across Southeast Asia. With a broad suite of innovative products and services developed in Malaysia over the company\u2019s 30-year history, the group\u2019s digital solutions are widely used by the country\u2019s banking and financial institutions, insurance and telecommunication companies, large corporations, SMEs, legal firms, statutory bodies as well as consumers for self-checks. The group provides solutions across three core customer segments \u2013 the key account segment, which includes a significant number of leading financial institutions and corporates; the commercial segment, which includes a growing number of small-and-medium-sized businesses; as well as over 1.4 million individual customers registered with CTOS ID in its direct-to-consumer (D2C) segment. CTOS Digital\u2019s mission is to empower individuals and businesses with the confidence to make sound credit decisions through access to data and insights at greaterMalaysia PE firm Creador eyes tech sectors after raising $500M for first close of 5th fund"}, {"url": "https://technode.global/2022/02/24/malaysian-biotechnology-firm-gk-aqua-seeks-to-raise-478000-to-1-91m-via-ecf-platform-pitchin/", "page": 61, "title": "Malaysian biotechnology firm GK Aqua seeks to raise $478,000 to $1.91M via ECF Platform pitchIN", "contents": "GK Aqua Sdn Bhd\u201cThis investment will be used to capitalise on a fast-growing market, further research and development efforts, grow our team and scale our hatcheries. Through the utilisation of cutting edge biotechnology methods, we are able to produce all-male postlarvae (PL). This has resulted in the breeding of disease-resistant prawns that are 3 times larger in size weighing an estimate of 200 grams per prawn,\u201d GK Aqua Founder and Chief Executive Officer Giva Kuppusamy said in a statement on Wednesday. Founded in 2016 with a vision to make Malaysia an export country of top-quality freshwater prawns, GK Aqua is currently at a pre-money valuation of MYR45 million ($10.75 million). With a mission to empower agropreneurs with an easy-to-scale business model coupled with cutting-edge biotechnology, GK Aqua has since enrolled 20 farmers into their freshwater prawn joint venture programme with farms ranging from medium to big scale. With harvesting made manageable and GK Aqua guaranteeing the repurchasing of the farmed freshwater prawns, farmers have since become more inclined to pursue freshwater prawn farming. GK Aqua hatcheries are located in Batu Pelanduk, Negeri Sembilan and can produce 24 million PL per annum. In August 2021, GK Aqua began its exporting efforts and has thus far exported over 200,000 PL to Mauritius and Cairo with a value of $30,000. The global freshwater prawn consumption market today is valued at $7 billion. In Malaysia, 3,000 metric tons of freshwater prawns are consumed annually with 90 percent imported to meet local demand. The species, locally known as \u201cUdang Galah\u201d, is popular in most seafood restaurants. The demand for large-sized prawns has risen to as high as MYR90/kg ($21.50/kg). In July 2017, GK Aqua was awarded the BioNexus status by the Malaysian Bioeconomy Development Corporation. It has also played an instrumental role in developing shipping regulations for freshwater prawn PL in Malaysia. In 2016, GK Aqua was awarded the top 100 World Community Solutions by the United States Department of State, emerged as one of the top 3 Projects in the Newton-Ungku Fund and was a top 6 finalist in the Persatuan Usahawan Maju Malaysia (PUMM) Malaysian Entrepreneur 2018 programme. Their freshwater prawn feed project has also earned them the best disruptive project award from HRH Prince Andrew, Duke of York. GK Aqua is working closely with the Negeri Sembilan state government to develop the state into a recognised \u201cprawn valley\u201d and to create more entrepreneurship opportunities for Malaysians. GK Aqua recently won the January 2022 edition of Malaysian Business Angel Network\u2019s (MBAN) Enter The Tiger\u2019s Lair. GK Aqua has raised a total of MYR4.6 million ($1.1 million) from PlatCOM, SME Corp, and Cradle through grants which were used to solidify their biotechnology research and digitising their farms. Malaysia\u2019s VentureTECH and Japan\u2019s SBI Ventures launch $18M private equity fund to boost Malaysian growth-stage technology firms"}, {"url": "https://technode.global/2022/02/23/malaysias-instahome-partners-with-indonesias-flokq-to-revolutionize-the-long-term-home-rental-industry-in-southeast-asia/", "page": 61, "title": "Malaysia\u2019s Instahome partners with Indonesia\u2019s Flokq to revolutionize the long-term home rental industry in Southeast Asia", "contents": "Flokq Both parties said in a statement the partnership between the two companies will easily help students and professional workers coming to both countries find properties for their stay. They opined that after the pandemic-related travel restrictions are listed, the medium-term travelers on business between the two countries will increase. Cited a research published by Statista Research Department on October 4, 2021, they said that in 2020 alone, there were approximately 14,600 Indonesian workers in Malaysia. Also, cited the data from the embassy and the National Association of Malaysian Students in Indonesia (PKPMI), they said the number of Malaysian students in Indonesia before the outbreak began was 3,788. The collaboration between the two companies will also leverage a strong product integration that will appeal to both markets while benefiting from each other\u2019s platform and insights. This cross-border collaboration between the two companies will offer more than 100,000 exclusive and up-to-date rental listings through their platforms in Jakarta, Bali, Selangor and Kuala Lumpur, over the next 6 months. Instahome, which was founded in November 2020 by Eric Tan and Patrick Grove, a serial entrepreneur who founded multiple startups in the region with 6 initial public offerings (IPOs) including iProperty, iflix, iCar Asia and Rev Asia, have emerged as a leading player in the long-term rental space in Malaysia. Flokq on the other hand was founded in late 2019, by Anand Janardhanan and Harmeet Singh in Jakarta. Earlier in 2021, they acquired Y-Combinator, Insignia backed\u201cWe are excited to partner with Flokq as we are both committed to building trust and transparency in the rental industry using top-notch design and technology. This win-win partnership will allow both our customers to enjoy high-quality and seamless home rental experience across Malaysia and Indonesia,\u201d said Eric Tan, Chief Executive Officer of Instahome. Meanwhile, Flokq Chief Executive Officer Anand Janardhanan said :\u201c With our alliance with Instahome, our collective marketing, inventory, distribution, and technology can bring positive changes to the long-term rental industry in Indonesia as well as Malaysia, both of these markets have large problems when it comes to quality of listings on classified sites, information gap, trust and a lack of quality home renting experience that conventional agents fail to provide. With this partnership, we can become leaders in our market and collectively solve a larger problem for the region. \u201d As a home rental platform in Malaysia, Instahome provides a seamless home rental experience for tenants, agents and landlords using our end-to-end digital platform from search, book to property management. It provides HD virtual tours for all the homes on our platform. Tenants can manage their homes using the platform to pay rent, collect rewards, find maintenance services and manage their relationship with the agents and landlords. It currently has over 10,000 units listed across Selangor and Kuala Lumpur and adding more than 1,500 listings every month now. Flokq based in Indonesia started its business with serviced co-living / private apartments throughout Jakarta. Alongside its rental business, the company continues to supply agents, owners, and property managers with technology and data that facilitates transactions, manages properties, and improves the resident experience. It currently has over 10,000 units listed across Jakarta and Bali. Malaysia PropTech firm Speedhome eyes unicorn status in 3 years"}, {"url": "https://technode.global/2022/02/22/great-entrepreneurs-are-the-ones-that-make-a-huge-difference-to-mankind-says-aerodyne-groups-kamarul-a-muhamed-origin-innovation-awards-qa-2/", "page": 61, "title": "Great entrepreneurs are the ones that make a huge difference to mankind, says Aerodyne Group\u2019s Kamarul A Muhamed [ORIGIN Innovation Awards Q&A]", "contents": "Malaysia\u2019s The company uses artificial intelligence in enabling tech for large-scale data operations, analytics, and process optimization. The company\u2019s founder and Group Chief Executive Officer, Kamarul Muhamed, has been selected as According to Muhamed, the company\u2019s vision is to advance humanity through drone intelligence: \u201cWe aspire to build a drone economy where mundane tasks and boring jobs will be removed, so that humans can focus more on meaningful jobs that would leverage on creativity and innovation. \u201dThere are three trends that have been making waves recently, FinTech, HealthTech, and FoodTech. In HealthTech, Aerodyne has been exploring incorporating drone technology through using drones for the delivery of medicines and blood, and even emergency responses. In FoodTech, our involvement is in the automation and mechanization of the agriculture industry in order to remove the need for cheap labor. A big challenge is in keeping themselves and their offerings relevant to the environment. In this post-pandemic era, there is the constant need to pivot and innovate in order to solve real-world issues. Another challenge is addressing quick demands. During the change into digital transformation, there is a struggle in pushing new solutions quick enough to address the ever-changing demands of customers. Lastly, hiring good talent has always been an issue, but right now it has become a real obstacle. A big part of addressing challenges is diversification\u2013rethinking, restrategizing, and creating new solutions that address real-world challenges. With every crisis, comes new opportunities. For example, during the first lockdown in March 2020, our work was impacted, as we were responsible for the inspection of critical assets around the country. We had 50 pilots who were unable to carry out their work, but we did not want to let go of any of them despite the challenging situation. We assisted the Malaysian Police Force for the Movement Control Order compliance monitoring. We contributed more than $300,000 worth of services and $600,000 drone hardware. We eventually developed these as new solutions called Fulcrum and vertikalitiOps. Another pivot we had to do during the lockdown was with our new engine of growth called Agrimor. During the pandemic, many foreign laborers were sent back to their countries, and those that remained were unable to work. Malaysia suffered as we rely heavily on foreign labor for the agriculture industry. Agrimor was built to carry out precision agriculture and the automation of agricultural processes through drones. Our Agrimor solution solved real issues of labor, and now, in the tailend of the pandemic, Agrimor is helping large plantation companies, and we are developing a SuperApp for agriculture that we can deploy regionally. As you can see, there were many challenges during this pandemic era. The silver lining? The birth of our new solutions Fulcrum and Agrimor. The future is for expert generalists who are masters at connecting the dots. It is also important for entrepreneurs to be resilient in challenging situations and to continuously innovate. I\u2019m proud to have a leadership line-up in the company made up of people who are visionaries, who have been unstoppable in the face of adversity. Many of our new solutions were only made possible because our people were willing to adapt quickly to continuously create value. Lastly, you need to be true to yourself and not hide anything. Be open about your challenges and how you\u2019ve overcome them. These failures have brought you to where you are at this moment. Great entrepreneurs are the ones that are making a huge difference to mankind. How are we solving the problem of inequality, famine, or even this pandemic? The bigger the problem you are solving, the bigger you are as an individual. For example, in 2021, Malaysia\u2019s palm oil yields dropped to nearly 40-year lows this year as plantations operated with about 75,000 fewer workers than needed. The steep drop in production pushed palm oil prices to record highs and sparked concerns about food inflation. Our Agrimor solution addresses the labor shortage through precision agriculture, which is a combination of automation and mechanization powered by the Internet of Things (IoT). A byproduct of Agrimor was the creation of an agriculture drone pilot as a career, where we employed many aviation pilots who had lost their jobs during the pandemic. Meanwhile, Fulcrum, our AI-driven swarm intelligence technology for border patrol, security, and surveillance helps address the MYR 8 billion ($1.91 billion) yearly loss to the country due to illicit trade. Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]"}, {"url": "https://technode.global/2022/02/22/malaysias-penang-state-government-launched-fourth-seed-fund-for-tech-startups/", "page": 61, "title": "Malaysia\u2019s Penang state government launched fourth seed fund for tech startups", "contents": "The state government of Penang, a northern state in Malaysia, has launched its Being the state\u2019s ongoing initiative to empower the tech start-up ecosystem, the so-called Penang i4.0 Seed Fund initiative started in 2018 and has launched three funding streams previously, benefitted a total of 37 start-ups, according to a statement. In Stream #4, the state has allocated MYR1 million ($238,870) to support the early-stage start-ups, bringing the total fund allocated to date amounted to MYR5 million ($1.19 million). With the accelerated innovation and the growing importance of start-ups, Malaysia aims to increase the number of start-ups to 5,000 by 2025 and attract two tech unicorns, as illustrated in Malaysia Digital Economy Blueprint. In this regard, Penang has constantly placed itself at the forefront on innovation and is well-positioned as an entrepreneurial state, underpinned by its vibrant ecosystem. The funding scope of i4.0 Seed Fund covers product enhancement, marketing, and branding activities and technical, product or design hires and intellectual property-related costs, with priorities given to Internet of Things (IoT), Advanced Manufacturing, Consumer Digital, EdTech, HealthTech, Clean Tech companies, and other tech-based activities. The eligibility criteria of this program include:-Start-ups that fulfilled the above criteria can apply for funding up to MYR100,000. Non-financial support such as mentorship, capacity building programs and industry linkage opportunities are among the perks provided to the fund recipients. Chow expressed his confidence in the tech ecosystem in Penang. \u201cHolding on to the aspiration to become a global innovation hub, we are making great strides in developing an enabling environment for the start-ups and is definitely an up-and-comer that is worth keeping an eye on,\u201d he said. The application period for Penang i4.0 Seed Fund Steam #4 is starting Tuesday (Feb 22) till March 22, 2022. InvestPenangPenang, a northern state in Malaysia around 350km away from Kuala Lumpur, is one of the world\u2019s biggest electronics and electrical hubs. It is home to factories owned by US chipmaker Intel Corp and US semiconductor firm Broadcom Inc alongside other firms that supply tech majors including Apple Inc, the state accounts for about 8 percent of global back-end semiconductor output, according to "}, {"url": "https://technode.global/2022/02/22/malaysian-proptech-firm-urbanmetry-raises-2m-pre-series-a-led-by-monks-hill-ventures/", "page": 61, "title": "Malaysian PropTech firm Urbanmetry bags $2M Pre-Series A led by Monk\u2019s Hill Ventures", "contents": "UrbanmetryThe funding will be used for developing its intelligent data products and platforms to serve end consumers in the property and mortgage markets; and for building out its product, technology, data, and business development teams, Urbanmetry said in a statement. With the funding, Urbanmetry will accelerate the development and adoption of its mortgage data products and platform. The company also plans to expand its repertoire of city databases to other Southeast Asian cities. Real estate is the largest asset class globally. Yet, like its brick-and-mortar nature, it is the hardest to fund. In developing cities, the lack of reliable data compounds the issue, making mortgage underwriting particularly complex, risky, and as a by-product, expensive. To increase liquidity and affordability, there is a need for mortgage risks to be objectively quantified, fragmented, and traded. Leveraging its strong foundation of proprietary real estate databases and data products, Urbanmetry is building a platform to deliver this much-needed functionality for the mortgage market. \u201cFor years, our engineers have been building in-house artificial intelligence and data-powered solutions to help banks, government, and property developers better quantify risks and opportunities in the real estate market. However, the data gap is detrimental to both key industry players and individual homeowners alike. Going forward, our team plans to push the technological envelope further to better fund homeowners and build sustainable cities for our shared future,\u201d said Koh Cha-Ly, Chief Executive Officer and Founder of Urbanmetry. Urbanmetry is a property data company that harvests, cleans, and analyses large amounts of city data, through AT and proprietary algorithms to extract trends and patterns in the built environment. It offers this data to public and private sectors, in hopes of creating a more efficient and transparent property market, improving city planning, and shaping a sustainable urban environment. The company today has over 150 corporate clients in the region including UEM Sunrise, Kuok Group Berhad, RHB Bank, Hong Leong Bank, and the World Bank. Clients have partnered with Urbanmetry to conduct their due diligence and analysis of the housing and property market before making multimillion-dollar investment decisions. The company has seen sustained growth over the pandemic and is profitable. Its investors in the previous round include 500 Global, 500 Southeast Asia, and Reapra. \u201cData-driven decision making is important in shaping the financing and construction of our cities. Unfortunately, data is scarce in the cities and markets that need it most. Tech startups such as Urbanmetry bridges the data gap that helps decision-makers navigate in the fast-changing markets such as Malaysia, Vietnam, and hopefully other developing countries globally,\u201d said Dao Harrison, Senior Housing Specialist of World Bank. In addition to providing data and insight to institutional clients, Urbanmetry also offers products for the homeowner. To assist homebuyers in making their mortgage commitment, Urbanmetry has launched Nowcast, an AI-driven service that helps homebuyers forecast the value of their homes based on machine learning from 90 city data variables. Nowcast reports are available through banks in Malaysia to mortgage applicants today. \u201cOver the past four years, I have observed how Cha-Ly and her team built a platform that can fundamentally transform the mortgage market. The property mortgage industry is typically opaque, with valuations that are often subjective or subject to conflicts of interest. The opportunity to leverage data science in providing a data-driven underpinning to the mortgage process is immense. We are excited to be working with the deepest real estate data science team in the region to tackle a difficult but high-impact problem. The end goal is to provide access to affordable and fair mortgages for Southeast Asian homeowners. \u201d said Kuo-Yi Lim, Co-Founder and Managing Partner of Monk\u2019s Hill Ventures. Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, Monk\u2019s Hill Ventures is a venture capital firm investing in early-stage technology startups, primarily in Series A, in Southeast Asia. Backed by institutional investors and family offices worldwide, it works with exceptional entrepreneurs who use technology to improve the lives of millions of people in the region. Malaysia PropTech firm Speedhome eyes unicorn status in 3 years"}, {"url": "https://technode.global/2022/02/22/carsome-plans-to-build-more-used-car-refurbishment-centers-in-malaysia-indonesia-thailand/", "page": 61, "title": "Carsome plans to build more used car refurbishment centers in Malaysia, Indonesia & Thailand", "contents": "Malaysia-headquartered used car e-commerce platform \u201cWe are expanding in the three countries together, Malaysia, Indonesia, Thailand. Our target is to have more footprints in three countries to cover all the customers\u2019 demands,\u201d \u200b\u200bCarsome Certified Chief Executive Officer Mei Han said in a virtual press conference. He, however, declined to disclose the timeline and the investment amount for the plan. Carsome has on Tuesday launched the so-called Carsome Certified Lab in Malaysia, which claimed to be Southeast Asia\u2019s largest car refurbishment facility. Spanning over 185,000 sq ft, the Carsome Certified Lab is able to refurbish up to 2,000 cars a month, covering at least 30 car brands. On the prospects of the used car industry in the region, Mei said he expects the demand will continue to grow healthily in the next few years. \u201cIn Southeast Asia, every year the trade of used cars is around $60 billion. And due to the pandemic, the global demand for used cars has been higher. We believe that demand will continue to be very healthy in the next few years,\u2019 he added. Meanwhile, in his welcoming speech, Carsome Co-Founder and Group CEO Eric Cheng said the company\u2019s vision is to create the most trusted car ownership ecosystem that is powered by technology and data. He said the company has recently set up Carsome Academy, which provides technical education to workers in the automotive industry. \u201cWe can upskill the technicians in the industry, professionalize the overall industry standard and elevate it to the next level of how you think about the used car market. These are all powered by data and technology. We integrate that into our physical infrastructures and the facilities. And now that has helped us to reinvent the way how people think about buying and selling and even owning a car in this region,\u201d he added. Carsome, Malaysia\u2019s first tech unicorn, announced Last month, Carsome also announced it has completed Upon the completion of the acquisition, Carsome became the sole shareholder of iCar Asia. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Malaysia unicorn Carsome raises $290M in Series E financing"}, {"url": "https://technode.global/2022/02/18/malaysias-drone-tech-hub-ambition-opportunities-challenges-part-1/", "page": 61, "title": "Malaysia\u2019s drone tech hub ambition: Opportunities & Challenges [Part 1]", "contents": "Editor\u2019s note: The groundwork for Malaysia to become a drone tech hub in the region can be traced back to as far as 2017 when government agency Later between 2019 and 2021, MDEC and other government agencies introduced Several years down the road, while Malaysia-headquartered drone tech firm With the internet of things (IoT), artificial intelligence (AI) technology and data analytics, drones\u2019 usage and applications have gone beyond aerial photography, parcel delivery or \u201cIn the past, drone technology was closely associated with the military. Nowadays, drone tech is widely-used commercially and even by amateur pilots for their own personal use. This expansion into new markets represents a huge potential for growth,\u201d MDEC CEO Mahadhir Aziz told In Malaysia, drones have been deployed for commercial uses such as inspection, surveillance, photography, delivery, among others. Drones were deployed to facilitate flood relief operations, including sending critical supplies such as food, medicines in several flooded areas in the country in December last year. Drones were also used by the authorities during the Movement Control Order (MCO) to maintain social safety and distancing as part of efforts to curb the spread of the Covid-19 pandemic. \u201cThe integration of drones with IoT or AI technology has created new avenues of application such as drones with IoT sensors helps to monitor land and crops, drones with AI in data analyzing is also used for detection and monitoring of road damage, among others,\u201d Mahadhir said. The drone industry has the potential job creation for locals as there is an ongoing demand for drone pilots and drone mechanics across various sectors. \u201cWe believe the opportunities for drone application are limitless,\u201d VStream Revolution CEO Saravanan Chettiar told Established in 2016 and started as a video surveillance solution provider, the drone solutions firm which is currently in seed stage, specialized in drone-based enterprise solutions and services. The firm is a pioneer in drone insurance in Malaysia. VStream has deployed enterprise drones for port surveillance in Malaysia, assisting on facility inspection, site progress inspection, search mission, data capturing, safety compliance. As the second-largest producer of palm oil in the world, Malaysia has great potential to develop drone tech. The deployment of drones could also help the oil palm industry which has experienced labor shortage after the government banned the intake of new foreign workers in March 2020 due to COVID-19. For instance, Oryctes Dual, developed by Malaysia drone startup \u201cDrones are being deployed in oil palm estates for tree-counting, crop health monitoring and spraying. Malaysia is also a petroleum-producing country, Drones are vastly used for pipeline monitoring and inspection of on-shore and off-shore facilities,\u201d Saravanan said. As the country moves towards a developed nation, with more infrastructure being built including roads and highways, railways, skyscrapers, drones are being used for project progress monitoring and reporting, he added. Malaysia\u2019s effort to promote green energy and the upcoming large-scale solar farms will encourage the development of drone tech as drones can be used to help detect and monitor the performance and maintenance of solar panels, Saravanan said. According to \u201cDrone tech is [still] considered as an emerging technology sector just a couple of years prior. [but] The momentum in drone tech is exciting as the global drone market is forecast to grow to $41.3 billion in 2026. The market for drone revenue is expected to double to $17.9 billion in 2025 in Asia alone,\u201d Dzuleira Abu Bakar, the Chief Executive Officer of government agency Malaysian Research Accelerator for Technology and Innovation (MRANTI) told According to the data from Malaysia Aerospace Industry Association 2021, Dzuleira said Malaysia has potential for $12.13 billion drone tech value of technology GDP by 2030, which is 4.3 percent of the global market. \u201cMalaysian players [should] ready themselves to take on opportunities in various sectors such as e-commerce, logistics, or mobilization of pertinent resources or medicine to rural, remote areas, or those affected by natural disasters. It also offers important value in infrastructure management and security surveillance in smart building maintenance, maritime surveillance, urban agriculture, and more,\u201d she added. Besides Aerodyne, Dzuleira noted that Malaysia has several other drone service providers and operators including Meraque, Poladrone, VStream, Alphaswif, GeoPrecision, UTHM and others \u2013 which offer a variety of industrial drones for deliveries, mapping, surveillance and more. One of Aerodyne\u2019s investors, Gobi Partners, which invested in the firm\u2019s Series B funding round in 2019, expects to see rapid growth in drone tech industry. \u201cThe civil drone market is currently a $7.5 billion market and is expected to grow at 15 percent per annum to reach $21 billion by 2027, according to Insight Partners. But we believe the industry will grow faster than that as there are many new applications coming into the market from the agriculture, logistics and security sectors,\u201d Gobi Partners Managing Director (KL) Jamaludin Bujang told \u201cThese sectors are highly labor-intensive. The labor-substitution strategy will be more prominent in the future as labor shortages worsen,\u201d he said. In the area of logistics and mobility, he opined that drones will be used to deliver products directly to the targeted user from its source, allowing faster, safer and cheaper delivery methods compared to the current traditional ways of delivering products. \u201cWhile this will never replace the current ways of delivery, we think drone delivery will fill in the demand for delivery of critical items, especially in remote locations and markets where it is challenging to get logistics services,\u201d he said. The demand for inspection using drones is expected to grow further as utility firms and telcos are relying more on drone tech as the technology is providing cheaper and more efficient solutions for them, Jamaludin said. Elsewhere in the US, e-commerce giant Amazon announced an experimental drone delivery service in 2013. Packages would be delivered by drones, arriving at customers\u2019 doorstep. The drone will later fly away after landing and dropping the parcel. Amazon said Prime Air has great potential to enhance the services it already provides to millions of customers by providing rapid parcel delivery that will also increase the overall safety and efficiency of the transportation system. While the so-called In Malaysia, Teleport, the logistics venture of airasia Digital,The pilot project for the delivery of goods from airasia\u2019s e-commerce platforms using automated drones is set to be carried out through a 6-month phased approach at the third NTIS test site. While most people will think that drone services are all about replacing manpower, providing cheaper and more efficient services to users, Jamaludin pointed out that drone services also include data technology. \u201cDrone solutions do not only capture data, but provide useful data analytics for users\u201d, he said. Drones can gather a massive amount of data\u2014far too much for humans to make sense of\u2014but the use of AI can significantly shorten the time to value, Aerodyne said on its website. \u201cOur AI-powered cloud-based asset management solution \u2013 vertikaliti, harnesses the value from drone data, providing deep analytics and actionable insights to help industries with their optimisation goals,\u201d the company added. One of its products, vertikalitiGRID, a Cloud-based powerline inspection and management solutions (https://aerodyne. group/infra. html), claimed to be able to help save cost of up to 30 percent and provide time savings of up to 400 percent. The firm has similar cloud-based inspection and management solutions for oil and gas, telco tower, solar and ports. Aerodyne has also developed The Agrimor SuperApp for precision agriculture, allowing farmers, agencies and agriculture service providers to request drones and pilots for agriculture seeding, spraying, plant analysis, mapping and more. The use of new technologies such as drones and IoT helps to increase crop yields and profitability, allowing farmers to use less resources (land, water, fertilizers, herbicides) to grow more. Last month, Aerodyne announced it has made a strategic investment in Synapse Innovation, a Malaysian AI and data analytics company that focuses on designing and developing machine learning algorithms for cloud-based predictive analytics services for various sectors including agriculture, infrastructure and oil and gas. Together with Synapse, Aerodyne said they will be developing the next generation drone data intelligence platform coupled with smart nested autonomous drone solutions. Malaysia-based drone startups are beginning to attract investors locally and abroad as they grow. In October last year, Poladrone, an end-to-end drone solutions provider headquartered in Malaysia, announced that it has raised $4.29 million in a seed round led by Southeast Asia venture capital firm Wavemaker Partners. Other investors that participated in the round include the Malaysian Technology Development Corporation (MTDC), a strategic investment fund wholly-owned by Malaysia sovereign wealth fund Khazanah Nasional, Hong Kong-based investment firm ZB Capital Ltd and angel investors. The funding round is said to be the largest known seed round in the country. Aerodyne, a DT3 (Drone Tech, Data Tech, and Digital Transformation) drone-based enterprise solutions provider, is also planning to raise between $100 million and $200 million in its Series C funding this year, its Founder \u200b\u200band Chief Executive Officer Kamarul A Muhamed told Aerodyne has raised an undisclosed amount in its Series B+ round in May last year, welcoming Japan investors including VC firm Real Tech Fund, industrial equipment supplier Kobashi Holdings, and drone and robotics tech firm ACSL as strategic partners. In October 2019, the company has also raised $30 million led by InterVest and Kejora Ventures. The Malaysia-based company is ranked number one in the remote-sensing drone service provider rankings for the first time last year, according to drone market research firm Drone Industry Insights. But funding remains a challenge for drone tech startups, Kamarul said. \u201cFunding is always an issue, not limited to drone tech companies but other tech startups in Malaysia. Generally, companies in the more advanced economies, like the US, Middle East and Europe, are able to raise higher amount of funding at a significantly higher valuation,\u201d he said. \u201cYou have money, you can do wonders. That\u2019s another gap that we need to be looking at as well. If you have the ideas to do this, you still need to attract the best talent. And in order to attract the best talents, the best technology, you need to have that funding,\u201d he explained. In Part 2 of this seriesMalaysian drone tech firm Aerodyne explores dual-listing as it starts IPO process"}, {"url": "https://technode.global/2022/02/14/for-engame-b2b-gamification-is-just-the-beginning-of-a-journey-into-the-metaverse-qa/", "page": 61, "title": "For Engame, B2B gamification is just the beginning of a journey into the metaverse\u00a0[Q&A]", "contents": "Malaysian game developer Enidea Sdn Bhd (Engame Asia co-founders What started as Cheng and a group of friends exploring Malaysia\u2019s nascent game development scene in 2018 has evolved into a startup that has delivered a proven gamification model to superapps across the globe in 2022. Today, Engame boasts over 20,000 players in its arcade-style Tap Master platform, in partnership with 12 brands, including Tealive, Fave, Herbalife, Packtica, and Texas Chicken \u2013 all secured in under two years. But Ng and Cheng\u2019s ambitions don\u2019t stop there. Engame\u2019s short-term B2B gamification success is a stepping stone to the big dream: to build games for the masses by leveraging blockchain technology and GameFi, towards participating in the gaming economy once Web 3.0 and the metaverse take flight. To fuel the expansion of its Tap Master gaming platform and bring its B2B games-as-a-service to small and medium enterprises (SMEs) who are not able to afford their own game development teams but want to participate in the gamification/ customer loyalty space, Engame is currently in the midst of raising a seed round that values the startup at RM20 million ($4.77 million). Below is the condensed version of Cheng: In late 2019, we won the Digital Content Creation Challenge 2019 (DiCE) by the Malaysia Digital Economy Corporation (MDEC). Shortly thereafter, Maxis Berhad, one of Malaysia\u2019s largest telcos, contacted us to participate in their Startup Challenge. After the submissions and screening process, Engame was one of 100 startups in Malaysia to showcase their solutions at the In 2020, our funding from MDEC helped boost Tap Master\u2019s popularity as a corporate customized solution platform. In the midst of the pandemic in April 2020, we onboarded our first corporate client (bubble tea brand) tealive, and then Texas Chicken. In December 2020, Jasmine joined the team. With her expertise in blockchain and fintech, we were able to develop Tap Master further. Now, we are going to expand our market from corporates and big brands to all the micro and SME businesses and the underserved. Ng:My contribution to Engame mainly was strategy and, to a large extent, sustainability because I\u2019m quite familiar with the venture capital scene, having been with one myself. I also understand the difficulty of sustainability and cash flow management. At the time, Enidea wanted to be a game studio for the masses, for customers, just creating games, which is still the goal. But there was a need to expand further to include other business customers, so that there is this ongoing cash flow, while the big dream is being developed. Cheng: Fast forward five years to 2020, you saw international studios such as Sony Interactive setting up shop in Malaysia. This trend is still going strong: many notable foreign studios are choosing to go to Malaysia in addition to hubs in Singapore, and we hope to see more. Malaysia\u2019s pool of game developers is quite talented, art-wise. Cheng: Ng: Cheng: Ng: Ng: We see a lot of that in GameFi and play-to-earn gaming business models. While the industry is still grappling with this particular business model and the technology behind it, blockchain has sped ahead and led to the explosion of the metaverse. Thanks to Mark Zuckerberg, now everybody wants to know what the metaverse is. Those of us in blockchain have been talking about metaverse for the last year. Now everybody\u2019s talking about it. This will attract a lot of money. With the funds that Engame raises, we will pivot and include this to better serve the business community. Ng:This is the Asian decade, right? China has its big startups like Tencent. India is really good with a lot of enterprise-type solutions. But I think there is definitely a space for players like us. The niche that we operate in \u2013 part of it being the B2B clientele \u2013 will give us a very firm and deep foundation for us to take on the Goliaths. Ng: And that\u2019s why when there is a collaboration between the two genders, the solutions that come up are so much more superior, much better. That\u2019s not to say that there isn\u2019t a space for an all-female team. Nonetheless, let us be more complimentary than competitive. From a woman\u2019s standpoint, do not shy away. As Asian women in tech, we are participating in a global space of different cultures where people don\u2019t hesitate in speaking up and telling us straight up what they think. We shouldn\u2019t be so easily rattled. We have value. Cheng: We\u2019re aiming for these two countries, both among the top three largest markets globally. At the same time, we are going to expand into more markets in Southeast Asia, towards becoming a regional powerhouse and providing customers a fun way to do business. We\u2019re also going to expand our games-as-a-service pipeline and roll out another five to 10 games on top of our existing stable of 30 games on Tap Master. These will add more variety for business deployment and more fun for gamers on the platform. Ng: Cheng: Ng: For Tier One Entertainment\u2019s Alodia Gosiengfiao, we are  in a golden era of play-to-earn games [ORIGIN Innovation Awards Q&A]"}, {"url": "https://technode.global/2022/02/12/carsome-completes-acquisition-of-icar-asia/", "page": 61, "title": "Carsome completes acquisition of iCar Asia", "contents": "Malaysia-headquartered integrated car e-commerce platform Carsome said in a statement that upon the completion of the acquisition, Carsome became the sole shareholder of iCar Asia. Carsome is the market leader in the online used car buying and selling platform across Malaysia, Indonesia, Thailand and Singapore, while iCar Asia is the leading listings and content automotive platform across the same markets. Carsome and iCar Asia, combined, offer an integrated automotive ecosystem \u2013 for dealers to source, advertise and sell cars and for consumers to research, sell and buy cars \u2013 in a region that trades over $55 billion worth of automobiles annually. Carsome Co-founder and group Chief Executive Officer Eric Cheng said that the company has been collaborating with iCar Asia since July 2021. \u201cWe are pleased with the smooth completion of this acquisition. This partnership will enable us to further augment our offerings across discovery, consideration, purchase and fulfillment, covering the entire auto ecosystem anchored on our core values of trust, transparency and technology,\u201d said Cheng. According to the statement, the acquisition is expected to allow Carsome to provide more diversified solutions and experience across the buying and selling value chain to more dealers and consumers in the key markets. The expanded suite of solutions will also offer consumers an end-to-end, one-stop experience that covers the entire car ownership journey \u2013 from search, transaction, finance and insurance to after-sales services. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Last month, the group announced the completion of its $290 million Series E round, increasing the company\u2019s valuation to approximately $1.7 billion. The financing round was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown), along with investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Malaysia car e-commerce platform Carsome Group appoints ex-AirAsia officer Ravi Shankar as chief marketing officer"}, {"url": "https://technode.global/2022/02/11/malaysia-to-announce-digital-bank-licenses-winners-next-month-report/", "page": 62, "title": "Malaysia to announce digital bank license winners next month \u2013 report", "contents": "Bank Negara Malaysia (BNM) targets to announce the winners of its digital banking licenses next month, according to the central bank\u2019s governor Nor Shamsiah Mohd Yunus. \u201cWe are in the \u2018advanced stage\u2019 of assessing the applications for digital banks and we target to announce the digital banks with the publication of our annual report at the end of March,\u201d she said during the central bank\u2019s fourth quarter of 2021 gross domestic product (4Q21 GDP) briefing on Friday, She said that the central bank needs to thoroughly evaluate each and every single application. Bank Negara intends to issue up to five licenses. Bank Negara announced A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. Notable applicants that have officially announced their applications include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, AirAsia\u2019s BigPay-MIDF-Ikhlas Capital consortium, and AEON Credit Service (M) Bhd, among others. \u201cWe also expect the entry of these digital banks to accelerate the digitalization of our incumbent banks. This will be good not just for the industry, but also for all of us here as customers of the incumbent banks,\u201d Nor Shamsiah was quoted as saying. She said Bank Negara also wants the digital banks to offer relevant products and services to the \u201cunserved and underserved\u201d segments, so that more people and entrepreneurs can better own assets and save for the future or to grow their businesses, according to the report. Malaysia\u2019s move to issue digital banking licenses comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers also hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. Demand for online banking services has also accelerated by the ongoing COVID-19 pandemic. Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]"}, {"url": "https://technode.global/2022/02/09/malaysian-fintech-startup-iimmpact-raises-2-million-funding-from-sequoia-indias-surge/", "page": 62, "title": "Malaysian fintech startup IIMMPACT raises $2 million funding from Sequoia India\u2019s Surge", "contents": "Malaysian-based fintech company IIMMPACT is Surge\u2019s first startup founded and based in Malaysia. IIMMPACT said in a statement that the funding will be used to accelerate product development and expand hiring. \u201cDespite the leaps we\u2019ve seen towards the digital economy over the past few years, many developing markets in Southeast Asia are being held back \u2013 whether it is due to the lack of infrastructure, regulation or ease of access. The good news is that businesses in Southeast Asia are amazingly receptive to new technologies \u2013 which is why IIMMPACT was created,\u201d said Alex Tan, Chief Executive Officer and Co-Founder of IIMMPACT. According to the statement, the lack of technological sophistication in legacy institutions in Southeast Asia has resulted in companies, especially those providing e-wallet, banking and e-commerce services, spending huge amounts of time and effort integrating digital payment products and data one by one. This is resource-intensive and distracts them from their core business. IIMMPACT provides a turnkey solution for businesses who want to offer payment services to their customers with just a few lines of code. Through its elegant application programming interface (API) solution, businesses can rapidly launch a digital marketplace to make payments to over 170 billers. The solution also allows bill management for recurring payments and financial consolidation. Companies of any size can, with minimal effort, launch digital payment products for their customers, such as phone top-ups, utilities payment, gaming, transportation, corporate gifting, food and beverage vouchers and more. With IIMMPACT, any business can turn their app services into super-apps. Companies that leverage IIMMPACT\u2019s API are able to grow exponentially, improve their customer retention, save significant time and resources, allowing them to focus on their core business. Traditionally, to launch new digital payment products, it will take an average of three to six months. Now by tapping on IIMMPACT\u2019s APIs, companies can add new products within days. In\u201cThough our simple yet robust solution, companies have come to us, supercharged their digital journeys and found new opportunities for expansion. We\u2019re excited to accelerate our product development with the new funds, grow our team and venture into new products and services for our customers. \u201d said Kelvin Lee, Chief Technology Officer and Co-Founder of IIMMPACT. IIMMPACT was founded in December 2017. Tan is one of the leading experts in data analytics \u2013 his forte is to transform raw data into valuable insights using artificial intelligence (AI) and machine learning (ML). He worked in global powerhouses such as RMIT University, Macleay College, Adidas, and Coles. Lee  served as Head of Engineering at Circles. MD and was previously the Chief Technology Officer at Moovby. He has held leadership roles at multiple startups covering BNPL, car sharing, healthtech and fintech. In 2020, IIMMPACT was also announced as a Top 10 Company from ScaleUp Malaysia\u2019s first cohort, which saw the company pivoting their business from a loyalty app to a one-stop payments and data aggregation API. \u201cIIMMPACT\u2019s pedigree traces to the type of technology companies that build great products upon key technical insights. In this case, IIMMPACT\u2019s API based payment system innovates by aggregating and connecting legacy systems to the growing new digital landscape that is poised for rapid growth in Asia,\u201d said Andre Sequerah, Managing Partner of ScaleUp Malaysia. ScaleUp Malaysia is an accelerator which focuses exclusively on growth stage companies in Malaysia \u2013 helping them position their business for exponential growth. ScaleUp Malaysia is setParticipants in ScaleUp Malaysia go through an intensive training program that covers subjects like finance, human resources, marketing & sales, technology, product and strategy. 10 companies from each cohort will receive an investment and the ScaleUp team will actively support these businesses through strategic advisory, investor matching and partner introductions after the program for up to 24 months. To date, ScaleUp Malaysia has announced investments in 21 emerging startups from Malaysia. IIMMPACT is part of Surge\u2019s sixth cohort of 20 companies that build fresher, smarter solutions to help consumers and businesses adapt to a changing world. Surge is Sequoia Capital India\u2019s rapid scale-up program for startups in India and Southeast Asia. Surge combines $1 million to $2 million of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders. The program\u2019s goal is to supercharge early-stage startups and give founders an unfair advantage, right out of the gate. Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations"}, {"url": "https://technode.global/2022/02/08/indian-payment-platform-razorpay-buys-majority-stake-in-malaysian-fintech-firm-curlec/", "page": 62, "title": "Indian payment platform Razorpay buys majority stake in Malaysian fintech firm Curlec", "contents": "RazorpayThis marks Razorpay\u2019s fourth acquisition overall and its first in international waters, taking one step closer to becoming a fintech leader in emerging markets, Razorpay said in a statement. Razorpay believes Curlec\u2019s founders along with their team\u2019s knowledge and expertise on Malaysia\u2019s payment ecosystem and demography, will be the ideal partners for the company to expand into Malaysia. It opined that this acquisition will help both companies build and scale seamless payment solutions for Malaysia\u2019s businesses and enable global payments for its Indian businesses. With this acquisition, Razorpay said it aims to further solidify its mission of being a one-stop destination for any and every payment and banking need of businesses, not just for Indian businesses but even for businesses in Malaysia, empowering them to worry less, accomplish more and witness uncontrolled growth. \u201cWith Curlec coming onboard, we at Razorpay are really excited as we mark our first step towards expanding in the South East Asia region. With the vast experience in a heterogenous market like India over the last seven years, our expansion to the Southeast Asia payments market is timed exactly to coincide with the company\u2019s growing dominance in all things payments,\u201d said Harshil Mathur, Chief Executive Officer and Co-Founder of Razorpay. According to the statement, South-East Asia is a digital payment powerhouse, having witnessed significant financial transformation over the last few years, driven by changing consumer and retail trends and more inclusive payment options. And while e-commerce is already booming in Malaysia with an estimated market size of $21 billion in 2021, an industry report said it is estimated to grow further to over $35 billion by 2025, fuelled by the emergence of new mobile payment methods. Malaysian shoppers are more open to cross-border shopping, with 40 percent of online transactions happening cross-border. And with the entry of new e-commerce consumers, Razorpay believes a broader range of payment services are required. The company is confident that an acquisition such as this will further unveil new channels for global business expansion for online businesses based in India and Malaysia. \u201cThe team and values of Curlec mirrors that of ours in every sense. It is incredible to witness the scale of impact that Zac, Steve and the Curlec team have created in such a\u201cWith a measured approach, we look forward to learning the nuances of Malaysia, their business and customer needs, and slowly adapt and build products tailored to the SEA geography. Together, we are confident that we will be optimally positioned to take on the unique challenges that both India and Malaysian markets put forth, and look forward to reimagining and transforming the payments ecosystem in South-East Asia,\u201d Harshill added. Curlec is a Kuala Lumpur-based company, building solutions for recurring payments for modern businesses of all sizes. Leading the baton of innovation within the region, the company was founded by two passionate entrepreneurs, Zac Liew and Steve Kucia in 2018. The company builds new-age technology solutions on top of existing payments infrastructure, to make it easier for companies of all sizes, to collect recurring payments and take control of their cash flows. Curlec currently works with hundreds of businesses across Malaysia with notable names including insurance company AXA, fintech lending firm Funding Societies, and Axiata Digital to name a few. Initially backed by 500 Global and other investors, the company\u2019s annual revenue has been growing at nearly 5 times since 2018. \u201cWe are incredibly excited to be combining forces with Harshil, Shashank and the Razorpay team. We\u2019ve long admired what they\u2019ve built in India from afar and are fully aligned with a common vision of building payment and banking solutions from top to bottom, for any business. We look forward to the next phase of our journey and scaling together across Malaysia and Southeast Asia,\u201d said Zac Liew, Co-Founder and Chief Executive Officer of Curlec. Prior to this, Razorpay acquired TERA Finlabs, (artificial intelligence-based risk tech software as a service Platform) in 2021, Opfin (payroll and human resource management solution) in 2019 and Thirdwatch (fraud analytics artificial intelligence-platform) in 2018. Razorpay, recently crowned as India\u2019s most valued private fintech company, serves over 8 million businesses including the likes of Facebook, Ola, Zomato, Swiggy, Cred and achieved $60 billion total payment volume (TPV) as of early December 2021. The company clocked over 300 percent year on year growth, second year in a row and plans to achieve $90 billion TPV by the end of 2022. The fintech unicorn is at the forefront of India\u2019s digital financial revolution building the central nervous system for digital India, with clear dominance in digital payments and itsfast growing business neobanking arm, RazorpayX. India fintech platform Simpl raises $40M Series B funding led by Valar Ventures and IA Ventures"}, {"url": "https://technode.global/2022/01/29/airasia-changes-name-to-capital-a-to-reflect-new-core-strategy/", "page": 62, "title": "AirAsia changes name to Capital A to reflect new core strategy", "contents": "Malaysia\u2019s AirAsia Group Berhad has on Friday announced a name change for the group holding company to become Capital A said in a statement that by 2026 it aims to achieve amongst others: group airlines connecting over 1 billion people in Asean; the engineering division (ADE) becomes an industry leader for maintenance, repair and overhaul (MRO) services in Southeast Asia; airasia super app to be the super app of choice in Asean; 10 million monthly active users for BigPay; 10 percent market share in Southeast Asia for Teleport, in the logistics and e-commerce industry; 5 million sign ups for edutech arm AirAsia Academy; over 21 million monthly orders on airasia grocer. \u201cThis is not just about unveiling a new logo. It\u2019s a significant milestone that marks a new era for the Group. This announcement reinforces we are not just an airline anymore,\u201d said Capital A Chief Executive Officer Tony Fernandes. While the airline will always underpin the AirAsia brand, he said that it has long been his firm intention, well before Covid hit, to leverage the strong data that the group has built up over 20 years and incorporate industry-leading new technologies to offer a broad range of products and services, over and above selling just airfares. \u201cThe pandemic has allowed us to accelerate that strategy. Our brand has continuously evolved based on driving innovation and meeting ever changing consumer demand. The strategy behind the change of name is to introduce a new corporate identity that better reflects the Group\u2019s core businesses today and its future undertakings, in tandem with our rapid transformation from an airline into a one-stop digital travel and lifestyle services group. We believe that the new company name will also further enhance the marketability of our products and boost the success of our group for the long haul,\u201cEssentially Capital A is an investment company with a broad portfolio of businesses which all deliver the best value at the lowest cost, supported by strong data built up over two decades. We also have one of Asia\u2019s leading brands to ride on, a strong people-first culture and an underlying promise of remaining committed to serving the underserved in all that we do. Just like what the airline has done from day one, all of our different lines of business will deliver the same strategy that is underscored by doing what we do best \u2013 making travel and everyday lifestyle services affordable, accessible and inclusive to all,\u201d he said. According to him, the group is now delivering more products and services under one umbrella than any other brand in Asean and with access to over 700 million people in the region, and he foresees incredible growth opportunities for the group\u2019s brand across many different industries in all of its core markets. \u201cWe have 16 products and services on our airasia super app, providing not only the best value flight and travel deals but also everyday lifestyle needs, from food to retail and e-commerce, to same day delivery, ride hailing and much more. We are already one of the top three online travel agents (OTAs) in Asean and our super app is on track to become the leading lifestyle app in the region very soon,\u201cAll of our portfolio businesses are well on the way to becoming industry leaders in their respective fields across Southeast Asia, including BigPay, our aircraft engineering division Asia Digital Engineering (ADE) and logistics venture Teleport,\u201d he said. According to him, the group is already has over 50 million monthly unique visitors on its super app which has been recognised as a tech unicorn in under two years, and its fintech business BigPay, has been given a significant injection of $100 million from South Korea conglomerate SK Group and overall it has raised over MYR2.5 billion ($600 million) to date through its fundraising strategy. \u201cFollowing strong consumer and investor support for our transformation strategy, we now set our sights on further capital raising initiatives for the airasia super app, Teleport and ADE which will be announced in due course,\u201d he said. While Capital A will be the new group holding company name, he said that one thing that is not changing is the AirAsia brand name for its airlines, which is one of the strongest brands in Asia and provides a solid platform for all of its other products and services to leverage from each other. \u201cEven though the last two years have been the most difficult and disrupted years in the history of commercial aviation, I welcome the year ahead with much greater confidence. Domestic air travel has already started to rebound in our key markets. While there may be some delays for international flights to return to pre-Covid levels due to the Omicron variant, I believe this will be short-lived as many global health experts are also predicting, alongside accelerated vaccines and booster shots as well as the world gradually learning to live with Covid. I am hopeful borders will reopen gradually throughout 2022 and we will see a return to normal capacity for our international services by the middle to third quarter of this year,\u201d he said. He said that over the past two years the group has spent the downturn in flying building a solid foundation for a viable and successful future, which is not solely reliant on airfares alone, and Capital A signals an exciting new era for the group\u2019s airlines and all of its other portfolio businesses within the group as it embarks on a significant new growth phase. \u201cImportantly, the best is yet to come. We have pivoted, we have transformed and we have a five year plan in place which will see non airline revenues contributing around 50 percent of overall Group revenue by 2026. Once the airlines return to pre-Covid levels in the near future all of our other lines of business will benefit significantly and will all soar to new heights in tandem with one another,\u201d he said. AirAsia logistics arm Teleport invests in Indonesian trucking marketplace Kargo Technologies"}, {"url": "https://technode.global/2022/01/27/air-asias-logistics-arm-teleport-invests-in-indonesias-trucking-marketplace-kargo-technologies/", "page": 62, "title": "AirAsia logistics arm Teleport invests in Indonesian trucking marketplace Kargo Technologies", "contents": "In its efforts to be a major player for delivery in the Southeast Asia region, This acquisition was funded through Teleport\u2019s internally generated sources, Teleport said in a statement on Thursday. According to the statement, the investment connects Kargo\u2019s trucking network to Teleport\u2019s infrastructure, expanding Teleport\u2019s mid-mile capabilities beyond just air cargo. In line with Teleport\u2019s mission to move things across Southeast Asia better than anybody else, it said the partnership with Kargo unlocks an opportunity to combine air connectivity with trucking capabilities on the ground, leveraging strong technology and enhancing the network. For Indonesia, in particular, given its archipelagic geography and topography, the most effective way to connect these cities is to operate a \u201cmiddle mile\u201d service connecting both land and air. said Teleport. For Kargo, it said Teleport\u2019s regional presence, vast network and rich data will assist them to expand their footprint rapidly across the region. The partnership will also support Teleport\u2019s commitment to making 24 hour deliveries possible using the multi-modal routes across the archipelago. Kargo which has over 75,000 trucks in its network and is digitalising logistics for shippers and transporters, will use the funds from the transaction to support the company\u2019s continued growth for end-to-end freight coverage in the B2B space and for expansion to other cities in the region in conjunction with Teleport. \u201cWhen we were first connected to Tiger Fang, Co-Founder and Chief Executive Officer of Kargo in 2021, we almost instantly agreed that both a commercial partnership and potential investment by Teleport would make sense for both parties. It has always been our goal to deliver with speed at low cost and to serve the underserved, which is why we acknowledge that the fastest-growing cities of the future will be smaller \u2018middleweight; cities, rather than larger primary cities,\u201cTo support this, we need to look beyond the AirAsia network and air transportation to connect these emerging cities. With our strengths combined through air and land, this partnership with Kargo sets us up to move things across Southeast Asia better than anybody else,\u201d said Pete Chareonwongsak, Chief Executive Officer of Teleport. Meanwhile, Fang said the strategic partnership with Teleport will help Kargo to become multi-modal, expanding in the value chain horizontally. \u201cWe expect the partnership to mutually benefit both parties by growing each other\u2019s presence in South East Asia in 2022 as we look to solve the evergreen logistics issue in the region,\u201d he said. Kargo is Indonesia\u2019s largest business to business (B2B) trucking platform. Its product suites can seamlessly integrate with any business and empower supply chains to work with more transparency and efficiency. Kargo\u2019s workflow tools allow freight to be priced, tracked and billed with technology. Kargo\u2019s platform has highly managed and vetted transporters along with reputation systems to instill trust. The platform has managed to grow 15 times its volume over the past year and attracted notable clients such as Unilever, Coca-Cola, Shopee, Maersk, among many others. Teleport is the logistics venture of AirAsia Group Berhad. Founded in 2018, Teleport is on a mission to enable everyone, from single merchants to the largest companies, to move things across Southeast Asia better than anybody else in 24 hours. Currently, Teleport is present in Malaysia, Thailand, Indonesia, Philippines, India, Singapore and China. AirAsia aims to become Asia\u2019s largest food delivery, ride hailing company \u2013 report"}, {"url": "https://technode.global/2022/01/27/malaysian-and-indonesian-central-banks-launch-the-cross-border-qr-payment-linkage/", "page": 62, "title": "Malaysia, Indonesia central banks launch cross border QR payment linkage", "contents": "The central banks of Malaysia and Indonesia on Thursday launched a cross-border QR payment linkage, to enable instant, secure, and efficient cross-border payments between Malaysia and Indonesia. Bank Negara Malaysia (BNM)According to them, the launch marks the beginning of a pilot phase that will pave the way for a full commercial launch in the third quarter of 2022. This linkage will be expanded in the future to support cross-border remittance where users in both countries can make real-time fund transfers with convenience, they said. BNM deputy governor Jessica Chew Cheng Lian said the cross-border QR payment linkage between Malaysia and Indonesia marks a key milestone in the long history of collaboration between both countries. \u201cPhase 2 of the QR payment linkage between Malaysia and Thailand has also gone live this week. Such developments will bring us closer towards realising the vision of creating an ASEAN network of fast and efficient retail payment systems. This in turn will further accelerate our digital transformation and financial integration, for the benefit of individuals and businesses,\u201d she said. Meanwhile, Bank Indonesia Deputy Governor Doni P. Joewono said this initiative links cross-border payments through the interconnection of national QR codes of the two countries and also represents another milestone of the Indonesian payment system blueprint 2025. \u201cBank Indonesia recognises the significance of cross-border payment system linkages and has continuously pursued such initiatives. This will give more options for users in the cross-border payment space and serve as a key to improve transaction efficiency, support the digitalisation of trade and investment, and maintain macroeconomic stability by promoting a more extensive use of Local Currency Settlement (LCS) Framework,\u201d he said. Through the use of direct quotation of local currency exchange rates provided by appointed cross currency dealer (ACCD) banks under the LCS Framework, he said it will improve the efficiency of transactions, thus lowering the transaction cost. According to the statement, the payment connectivity will further strengthen the close economic ties between Malaysia and Indonesia and support post-pandemic economic recovery. As international travel resumes, the central banks opined that tourism will be a key sector that will greatly benefit from this service. They noted that the sizeable traveller flows between the two countries recorded an average of 5.6 million arrivals yearly before the pandemic. Both countries are also key remittance corridors for their nationals working abroad who will benefit from faster, cheaper, and more transparent cross-border remittances, they added. According to them, this initiative is also aligned with the G20 roadmap for enhancing cross-border payments developed by the financial stability board and other international bodies. They also noted this project is made possible with the collaboration of various stakeholders from both countries under the joint stewardship of BNM and BI, which include Payments Network Malaysia Sdn Bhd (PayNet), the Indonesian Payment System Association (ASPI) and RAJA (Rintis, Artajasa, Jalin, and Alto) as payment system operators. Meanwhile, the settlement banks are CIMB Bank Berhad, Bank Mandiri and Bank Negara Indonesia. Other participants include various banks and non-bank payment service providers from both countries. Malaysia launches Financial Sector Blueprint 2022-2026, advancing digitalization of the financial sector\u2019s among the strategic thrusts"}, {"url": "https://technode.global/2022/01/26/malaysia-car-e-commerce-platform-carsome-group-appoints-ravi-shankar-as-chief-marketing-officer/", "page": 62, "title": "Malaysia car e-commerce platform Carsome Group appoints ex-AirAsia officer Ravi Shankar as chief marketing officer", "contents": "Malaysia-based car e-commerce platform In his new role, Mallavarapu will oversee brand, marketing, digital, social media, public relations, growth, market research and customer experience, Carsome said in a statement. He will also work closely with Carsome\u2019s Chief Brand Officer Derek Tan on brand, creative, production and sponsorships, it added. Carsome Co-Founder and Group Chief Executive Officer Eric Cheng said that this appointment is an important move to continue strengthening Carsome\u2019s leadership team to\u201cRavi is a data-driven marketer who balances creativity with excellent execution. We are very excited to have him onboard to accelerate our business growth and help establish Carsome\u2019s mission in the market, which is to create a new standard of buying and selling cars,\u201d he said. According to the statement, Mallavarapu brings with him close to 15 years of experience in digital, brand and growth marketing. He spent six years across multiple firms in India, before moving to Malaysia, where his last role was AirAsia\u2019s Chief Growth Officer. At AirAsia, Mallavarapu successfully built an in-house digital marketing team and transformed it into a growth team, which runs ads to develop marketing products, in line with the company\u2019s business direction of pivoting from an airline to a super-app. \u201cI am thrilled to be a part of Carsome\u2019s journey of building a trusted car ownership ecosystem using data and technology. Being the industry leader, Carsome is in a good position to bring change to user behaviour in the Southeast Asian region, where most car transactions are done offline. \u201cWe can move this online by establishing trust and the best customer experience at every touch point. I look forward to making Carsome the top-of-mind brand in this region and connecting the dots between brand, marketing, technology and data,\u201d Mallavarapu said. Mallavarapu\u2019s appointment is timely for Carsome to streamline and expand its marketing and outreach efforts, with specific focus on its business-to- consumer arm Carsome Certified, an industry standard for car-buying with quality assurance and peace of mind. Carsome claimed itself as Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, Carsome aims to digitize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. Carsome currently has more than 2,000 employees across all its offices. Malaysia unicorn Carsome raises $290M in Series E financing"}, {"url": "https://technode.global/2022/01/26/malaysias-mdec-to-partner-with-asean-fintech-group-to-facilitate-funding-opportunities-to-malaysian-tech-companies/", "page": 62, "title": "Malaysia\u2019s MDEC to partner with Asean Fintech Group to facilitate funding opportunities to Malaysian tech companies", "contents": "The In a joint statement, both parties said that their collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem support and joint amplification. According to the statement, MDEC will curate deal flows and funnel potential Malaysian fintech companies to AFG. Meanwhile, AFG, through its regional network, will explore funding facilitation opportunities for Malaysian Technology companies, especially fintech start-ups, for potential investment and acquisition. \u201cWe are excited to announce this collaboration with AFG as we strive forward with initiatives to enhance and scale-up Malaysian fintech companies. Working closely with fintech ecosystem partners, we are optimistic that the partnership will create more opportunities for these companies in advancing their business with access to regional markets and funding,\u201d said Mahadhir Aziz, Chief Executive Officer, MDEC. According to the statement, this synergistic partnership with MDEC will provide an opportunity for the AFG to propel start-ups and add value to the robust Malaysian fintech network through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies. \u201cMalaysia presents a conducive investment environment, backed by an abundance of talents and infrastructure and a thriving start-up ecosystem filled with high-potential ideas, products and services. We have a number of Malaysian fintech companies who form parts of our network who have not only seen growth but are in the midst of going regional through the AFG\u2019s support,\u201cWe see great potential in MDEC\u2019s programmes which is why we have chosen Malaysia as our preferred hub to expand into the ASEAN region,\u201d said Lau Kin Wai, Executive Director, AFG. Among the Malaysian fintech companies currently under AFG\u2019s roster includes Fatberry. com Malaysia\u2019s insurtech platform and BetterPay, a aayment service platform. Fatberry. com provides accessible and affordable insurance plans to Malaysians powered by artificial intelligence (AI) data analytics. With over 250,000 visitors visiting Fatberry. com\u2019s monthly, Fatberry. com users receive tailor-made solutions for their insurance needs anytime, anywhere. BetterPay (formerly known as QlicknPay) is a registered payment service platform working in partnership with leading banks to help digitizing businesses through advance an payment technology linked with core banking products. MDEC is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 25 years. It aims to enable a progressive, innovation-led digital economy. The agency will continue to lead Malaysia\u2019s digital economy forward towards becoming a globally competitive digital nation, anchored on innovation, sustainability and shared prosperity, firmly establishing Malaysia as the digital hub of ASEAN. AFG is a venture corporation led by former founders/operators or C-suites of successful technology companies. Founded in 2017, AFG aims to create accretive value by digitising money and commerce flow across one of the fastest-growing fintech geo-markets in Asia. AFG is building an integrated fintech value chain through innovation, network and scale across four verticals: payments, lending / buy now pay later (BNPL), Insurtech and Digital Wealth Management. With ready ASEAN financial licenses and quick market access to the top 1000 companies in ASEAN, AFG increases interoperability of its current and future fintech businesses through efficient capital provision, tech, infrastructure support, and an extensive network of key decision-makers and industry leaders from various sectors and companies. Malaysia\u2019s George Kent inks MOU with MDEC to promote growth of Malaysia\u2019s tech ecosystem"}, {"url": "https://technode.global/2022/01/25/malaysian-perfume-startup-scentses-co-receives-seed-investment-from-mui-group-to-strengthen-partnerships-and-drive-revenue-growth/", "page": 62, "title": "Malaysian perfume startup Scentses + Co receives seed investment from conglomerate MUI Bhd", "contents": "Scentses + CoBy leveraging the strength and backing of the conglomerate, Scentses + Co is set to further catapult the company\u2019s growth towards achieving an annualised monthly revenue of over MYR10 million ($2.38 million), Scentses + Co said in a statement. Having already established a positive cash flow position, it said Scentses + Co will mainly deploy its fund into deepening and expanding its core marketing capabilities. Prior to this, Scentses + Co has raised a round of angel funding from Yeoh Chen Chow, the Co-Founder of the Fave Group. Yeoh will also be participating in this seed round, signifying a strong recognition and validation to Scentses + Co. \u201cWe are grateful to have the recognition and support of The MUI Group. This partnership is momentous and mutually beneficial as we believe we will be able to fast-track our growth trajectory by leveraging on their immense retail experience and footprint. We are excited to deploy experiential marketing to drive successful business transformation across the retail industry,\u201d said Scentses + Co\u2019s Founder and Chief Executive Officer Sadira Yeong. The collaboration is set to be beneficial to the MUI Group as well as it will see the group tap into Scentses + Co\u2019s forte in digital marketing to complement the group\u2019s digitisation and Online to Offline (O2O) transformation plan while it retools business strategies in this new normal. The synergy between both brands has already borne fruits for the MUI Group\u2019s retail and hotel subsidiaries, namely MJ Department Stores Sdn Bhd (Metrojaya) and Corus Hotels Sdn Bhd, with Scentses + Co\u2019s digital approach in helping to attract a younger demographic of customers. Conversely, the physical presence of the MUI Group\u2019s subsidiaries has provided Scentses + Co\u2019s customers with a plethora of offline value-added services such as self-collection for their convenience and promotional offers. The cross-brand collaboration aims to leverage a rapidly increasing E-commerce market that has been buoyed by the pandemic accelerating digitalisation and normalising online shopping. With pandemic restrictions eased, the partnership will allow Scentses + Co and the MUI Group to effectively offer a more holistic retail experience that focuses on both online and offline purchasing experience to better appeal to new consumer preferences. \u201cThis drive and bold spirit of young entrepreneurs, who have successfully innovated the centuries-old fragrance market, appeals to the MUI Group. We are proud to be able to support the endeavours of a standout in this category. Not only do we see value in what Scentses + Co can achieve but equally important, we see value in how they can complement and contribute to our portfolio of brands as we continue to invest in diversifying our sales approaches to appeal to a more dynamic and younger audience,\u201d said the MUI Group Chairman and Chief Executive Officer Andrew Khoo. Scentses + Co is Malaysia\u2019s first designer perfume subscription that provides fragrance discovery service for its subscribers. As a fragrance e-commerce business, it was launched in July 2020 with the mission to inspire and intrigue more consumers into the perfume world to grow Malaysia\u2019s fragrance community. Sadira Yeong is a University Malaya graduate, and at the tender age of 26, she has already proven to be a prolific entrepreneur. She founded a Cradle Fund-backed startup, Readpublic, which is a platform to compare the prices of books across local and global bookstores while serving as a way to also sell second-hand books. Sadira then carried on her momentum founding Scentses + Co in 2020 to grow the overall local perfume market by making it more accessible and affordable for a wider audience cross-section. Since its inception, Scentses + Co, has already amassed a significant following with over 10,000 subscribers and more than 700 stock-keeping unit (SKU) of perfume products within their portfolio. MUI Bhd which was incorporated in Malaysia on May 28, 1960a and listed on the Main Market of Bursa Malaysia Securities Berhad on June 30, 1971, is an investment holding company. The MUI Group is primarily engaged in retailing, hotels, food & confectionery, financial services and property development. With its corporate headquarters based in Malaysia, its international operations span the United Kingdom, the United States of America, and the Asia Pacific region. Malaysia\u2019s Country Heights partners with China\u2019s JD. com to bring its omni-channel e-commerce platform to Malaysia"}, {"url": "https://technode.global/2022/01/24/malaysia-launches-financial-sector-blueprint-2022-2026-advancing-digitalization-of-the-financial-sectors-among-the-strategic-thrusts/", "page": 62, "title": "Malaysia launches Financial Sector Blueprint 2022-2026, advancing digitalization of the financial sector\u2019s among the strategic thrusts", "contents": "Malaysia has launched the \u201cThis includes the vision for the financial sector to be agile and resilient to support the transition of our nation to its next stage of development,\u201d the central bank Governor Nor Shamsiah Yunus said in her speech on Monday, at the MyFintech Week 2022. The Blueprint is also anchored on efforts to foster market dynamism and support sustainable development objectives, with a continued focus on its monetary and financial stability mandates, according to Bank Negara Malaysia. Advancing digitalization of the financial sector is among the five strategic thrusts stated in the Blueprint. Among the initiatives include future-proofing key digital infrastructures, supporting a vibrant digital financial services landscape, strengthening cyber security readiness and responsiveness, and supporting greater use of technology for regulation and supervision. Other strategic thrusts include funding Malaysia\u2019s economic transformation, elevating the financial well-being of households and businesses, positioning the financial system to facilitate and orderly transition to a greener economy and, advancing value-based finance through thought leadership in Islamic finance, according to Nor Shamsiah. Among the key targets or milestones the central bank has set includes an increase in e-payment per capita at a compound annual growth rate of higher than 15 percent, insurance/takaful penetration rate of 4.8 to 5.0 percent (as a percentage of Gross Domestic Product), faster, cheaper, more accessible cross-border payments. Looking ahead, Bank Negara said various megatrends are expected to shape the future economic and financial landscape. The pandemic has accelerated certain developments \u2013 accentuating some pre-existing vulnerabilities while also giving rise to opportunities for reforms that are long overdue. Bank Negara Malaysia working with \u2018relevant authorities\u2019 to address concerns over BNPL"}, {"url": "https://technode.global/2022/01/21/malaysia-business-to-business-startup-dropee-raises-7m-series-a-round-led-by-vynn-capital/", "page": 63, "title": "Malaysia B2B startup Dropee raises $7M Series A round led by Vynn Capital", "contents": "Malaysia\u2019s business to business (B2B) wholesale startup The current financing round, led by returning investor Vynn Capital, welcomes new investors including HCL Capital, a Hong Kong-based family office which represents a Malaysian family business; Resolution Ventures, a venture capital (VC) that focuses on fintech companies in Southeast Asia; and LKF Capital, corporate venture capital arm of Lan Kwai Fong Group, Dropee said in a statement. Dropee\u2019s Series A fundraising also saw participation from another existing investor, Brama One Ventures, as well as other undisclosed new investors, it said. \u201cWith this Series A round, we\u2019re doubling down on helping micro and small local businesses to adopt digital solutions so they\u2019re able to bring down their operating costs, have more access to financing support, and increase their business longevity. We work with over thousands of Dropee partners (the wholesalers, distributors, fulfillment and warehousing partners) to serve local retailers with a whole new experience in stocking up inventories in a better, faster, and cheaper way,\u201d said Lennise Ng, Co-Founder and Chief Executive Officer of Dropee. According to Dropee, the funding will also be used to accelerate financing product offerings for wholesalers and retailers over the next 12 months. It said that Dropee has built a successful track record with credit financing portfolios over the past year and is ready to scale up the offering by working with strategic partners, including regional banks and non-banking financial institutions. \u201cWe have been consistently impressed by Dropee\u2019s growth and the team\u2019s ability to execute. As such, we are glad to invest more capital to back Lennise and Aizat\u2019s vision in transforming the industry to support micro and small businesses. As supply chain is the backbone to any industry and sector, we believe Dropee will play a very crucial role in helping small businesses adapt and grow in the new normal,\u201d said Victor Chua, Founding and Managing Partner of Vynn Capital. Dropee is a software as a service (SaaS)-enabled marketplace that connects brands with local retailers across Southeast Asia. It is on a mission to help local retailers stock up the best wholesale products and suppliers for their business in the fastest and easiest way possible. Its modern and digital approach to the wholesale industry allows retailers to discover, purchase, and manage inventories for their store all on a single marketplace platform \u2013 and its software tool for brands and wholesalers to deal with all the pain points of a growing customer database, from stock replenishment to payment collections. This saves local retailers and wholesalers time and money, allowing them to focus on what\u2019s most important: building and growing their sales. In the five years since its launch, Dropee has established itself as one of the fastest growing B2B wholesale SaaS-enabled marketplace in Southeast Asia with market presence in Malaysia, Singapore, and Indonesia. Over 80,000 small and medium enterprises (SME) businesses procured wholesale inventories in its marketplace, annually totalling more than $100 million in transaction value. On top of its SaaS and marketplace businesses, Dropee has also expanded its product line to support loan and financing deployment. \u201cWe believe the pandemic has forced Malaysia and Southeast (SE) Asia to digitalise B2B sales faster than it would originally have and Dropee sits at the forefront of this revolution. They also possess a superstar team that has driven the business forward and has the ability to not just take advantage of this rapidly changing landscape but shape the future of how Malaysia and SE Asia\u2019s B2B e-commerce will operate. We are very proud to be part of Dropee\u2019s journey and hope to be able to contribute to their growth,\u201d said Jack Hon, Managing Partner of HCL Capital. For brand owners and wholesalers, Dropee currently offers a one-stop solution from complete offline-to-online B2B order management to automated payment collection from customers, over hassle-free and seamless paperwork processes. Dropee\u2019s last financing round was in July 2020 where the company raised $1.30 million, and its earlier seed round of $350,000 was announced in Jan 2019. Victor Chua of Vynn Capital on investment opportunities, finding fundable teams, and unicorn startups  [Podcast Q&A]"}, {"url": "https://technode.global/2022/01/19/malaysian-edtech-startup-gurulab-raises-1m-seed-round-to-enhance-its-proprietary-analytics-platform-and-expand-its-offerings/", "page": 63, "title": "Malaysian edtech startup GuruLab raises $1M seed round to enhance its proprietary analytics platform and expand its offerings", "contents": "GuruLabGuruLab said in a statement that it intends to use the funds to enhance its proprietary analytics platform and expand its offerings within Malaysia\u2019s education ecosystem. According to the statement, GuruLab is aggressively recruiting for both education and technology roles, including tutors, software engineers and data scientists. Its ambition is to use its current offerings as a springboard to become Southeast Asia\u2019s leading education platform, with expansion into other subjects and markets already on the cards. Its Co-Founders Eer Kai Song and Vicky Tan, both OxBridge graduates, set up the company to realise their vision of giving each student the tailored help they need to improve their grades through a data-driven approach. \u201cBecause education is at the core of what we do in Gurulab, we have assembled a team comprises graduates from the world\u2019s Top 50 universities, including more than 10 holders of Masters and PhD degrees in education and teachers with decades of education experience,\u201d said Eer, who previously worked in London for the top-tier management consultancy McKinsey and Company. GuruLab currently offers live-streamed English tuition classes, giving students throughout Malaysia access to some of the country\u2019s top tutors. \u201cWe believe GuruLab\u2019s feedback algorithm and data-driven methodology can address the shortcomings of the \u2018one-size-fits-all\u2019 approach used by schools and tuition centres,\u201d said Tan, who holds a Masters in Education from Oxford University. In early 2021, armed with a Masters in Information Engineering from Cambridge University, Eer saw an opportunity to contribute to the Malaysian education system by leveraging the power of data science. The desire to give back runs deep in the company culture, with Eer noting, \u201cMany within our team have returned home after an overseas education to help Malaysian students because we see first-hand the opportunities that a good education can bring. \u201dIt is noted that venture builder Wright Partners also participated in the round. \u201cThe pandemic has really exposed and exacerbated the skills divide among students in Malaysia. We are confident that the GuruLab team has what it takes to tackle this problem through their data driven approach,\u201d said Tan Toi Ngee from Wright Partners. Malaysia EdTech firm ReSkills EdTech raises $1.5M funding for Southeast Asia expansion"}, {"url": "https://technode.global/2022/01/18/malaysian-content-aggregator-newswav-raises-rm6m-in-new-series-a-funding-led-by-osk-ventures-to-drive-content-user-growth/", "page": 63, "title": "Malaysian content aggregator Newswav raises $1.43M in new Series A funding led by OSK Ventures to drive content, user growth", "contents": "Malaysian content aggregator Newsway said in a statement that as part of its expansion plans, part of its funds will be used towards user acquisition, strengthening their leadership in the content aggregation space, and diversifying its revenue stream. It said that other areas where the funds will be put to use include enriching their content, driving user engagement, expanding its creators and platform, as well as scaling up its in-house ad tech capabilities. Commenting on the fresh funds raised, its Chief Executive Officer Swee Wai Hoow said that the company hopes to revolutionize the content industry and redefine the way Malaysians consume content. \u201cContent consumption patterns and preferences have transformed significantly over the past decade, and were further accelerated as a result of the pandemic. We see changes not just from the type of content that users are consuming, but also the amount of time they spend online, especially on their mobile devices,\u201d he said. By working closely together with news and content publishers as well as individual content creators, he said the startup will be able to furnish richer, more relevant and relatable content to its users and at the same time deliver additional traffic and ad share revenue to its content partners. \u201cWe aim to be the only content aggregator platform that Malaysians will ever need,\u201d Swee added while acknowledging the rising demand for local and original content from its user base. Meanwhile, OSKVI Executive Director Amelia Ong Yee Min said that the fund sees tremendous opportunity in Newswav\u2019s business model. \u201cWe believe that Newswav is well-positioned not only to continue its content leadership by bringing a more engaging and richer consumer experience, but also to establish an innovative approach towards content consumption and delivery that will pave the way for the content aggregator segment regionally,\u201d she added. Newswav is an online content aggregator and obtains its content from different online sources. With over 2 million installations, Newswav has more than 15 million average monthly visits across its mobile application and website combined. It aggregates close to 200 publications and content creators on its platforms, partnering with well-known publishers such as The Sun Daily, South China Morning Post, Malay Mail, The Edge, Sinar Harian, BFM, The Vibes, Daily Express, World Of Buzz, and more. The politically-independent aggregator provides content in three different languages (English, Malay, Chinese) and in three different formats (articles, videos, podcasts) for audiences who prefer consuming content in different ways. With a mobile-first focus in mind, Newswav launched its mobile application in 2017 and is now the number one content aggregator in Malaysia with close to 200 content partners, consistently topping the charts in the \u201cNews\u201d category across Apple App Store, Google Play Store, and Huawei App Gallery. Its existing investors include BFM Capital and YYC Ventures. \u201cNewswav has created not just a popular content distribution platform but also a way for its media partners, independent journalists and third party contributors to monetise their content with a win-win revenue sharing model: That is Newswav\u2019s true innovation,\u201d said Malek Ali from BFM Capital. YYC Group Chairman Yap Zhi Chau was also upbeat about the investment. \u201cNewswav has grown by leaps and bounds since its inception and I believe it will continue to revolutionise how Malaysians consume news and other contents,\u201d he said. In contrary to most industries that experienced huge challenges during the pandemic, Newswav registered a strong revenue performance in 2021 with up to three times revenue growth compared to the year before. Brands that have advertised on Newswav\u2019s platform include property developers EcoWorld, Mitraland, Gamuda Land, telecommunications company U Mobile, insurance label Berjaya Sompo, online grocery platform HappyFresh, consumer electronic supplier LG and more. \u201cThe disruption happening in the news and media industry will accelerate for the rest of this decade. We\u2019re privileged to be given an opportunity to play a role in this exciting transformation,\u201d said Co-Founder of Jobstreet Ng Kay Yip, who is also an early investor of Newswav. Singapore crypto media platform Chain Debrief raises US$900,000 seed funding to expand its platform"}, {"url": "https://technode.global/2022/01/17/airasia-aims-to-become-asias-largest-food-delivery-ride-hailing-company-report/", "page": 63, "title": "AirAsia aims to become Asia\u2019s largest food delivery, ride hailing company \u2013 report", "contents": "Malaysia budget airline AirAsia Chief Executive Officer Tony Fernandes said he is confident that the airasia food and Super App can become one of the biggest food delivery, ride-hailing companies and online travel agencies in Asia, national news agency \u201cWhen (I started) AirAsia, I always wondered if we can become the biggest airline, and we did. We are the fourth biggest airline in Asia\u2026 We started with only two planes, 200,000 passengers, and now we have grown to 90 million passengers. \u201cSo I sit back and think can we become the biggest food delivery company and ride-hailing company? Today, I officially say, I think we can. I think we\u2019d go out there and (outgrow) existing competitors the same way we outgrew other airlines,\u201d he was quoted as saying at a press conference in Penang. Fernandes said he is looking forward to expanding the app\u2019s full services to Thailand, Indonesia, Singapore, and the Philippines in the near future. Earlier at the event, Fernandes announced the appointment of Delivereat founder Tan Suan Sear as Group Head of airasia food and Leong Shir Mein as Head of On-Demand for AirAsia\u2019s delivery arm Teleport. He added the group is truly excited about the partnership as it supports the company\u2019s strategy to continue serving the underserved and become the best value delivery company in Asean. AirAsia\u2019s digital logistics unit Teleport had signed an agreement in August last year to Last Thursday, AirAsia Group has been classified as a AirAsia has been aggressively building its digital businesses and its Asean Super App over the last two years as most of its planes were grounded due to the ongoing COVID-19 pandemic. It has introduced The group has hoped to build its super app, modeling regional tech giants such as AirAsia\u2019s digital arm, AirAsia Digital announced in July last year it will In its home market Malaysia alone, airasia food will be competing with GrabFood and Delivery Hero\u2019s Foodpanda. Singapore-headquartered tech giant Sea Ltd\u2019s Shopee has also launched food delivery services in selected areas [Updated] Malaysia\u2019s AirAsia classified as financially distressed company"}, {"url": "https://technode.global/2022/01/14/malaysias-airasia-classified-as-financially-distressed-company/", "page": 63, "title": "[Updated] Malaysia\u2019s AirAsia classified as financially distressed company", "contents": "Editor\u2019s note:Malaysian budget airline \u201cAs announced by the company on Jan 7, the company continued to trigger the prescribed criteria pursuant to Paragraph 8.04 and Paragraphs 2.1(a) and 2.1(e) of Practice Note 17 (PN17) of the Main listing rules, and an application was submitted to Bursa (Malaysia) for the relief period to be extended beyond Jan 7, 2022, and an appeal following the decision by Bursa for the application. \u201cThe Board of Directors wishes to inform that after due consideration of all facts and circumstances including all written representations and documents submitted before Bursa (Malaysia), Bursa has decided to dismiss the appeal,\u201d AirAsia said in a regulatory filing on Thursday. AirAsia later confirmed that it is taking all necessary steps to address its PN17 status. \u201cWe are in the midst of formulating a plan to regularise our financial condition and relevant announcements will be made in due course,\u201d AirAsia Group CEO Tony Fernandes said in a statement on Friday. \u201cPN17 is a reflection of the current state of our balance sheet which has been negatively impacted by the COVID-19 crisis. While we were provided with an 18 month relief period from July 8, 2020, and were subsequently not required to comply with the obligations in the listing requirements, we have undertaken various fundraising exercises to improve our liquidity position. We have also put in place a solid foundation to not only survive but recover from the effects of the pandemic stronger than ever in the near future,\u201d he said. Fernandes said AirAsia has raised over MYR2.5 billion to date including the Private Placement of MYR336.48 million in the first quarter of 2021. The Renounceable Rights Issue of 7-year Redeemable Convertible Unsecured Islamic Debt Securities (RCUIDS) was completed on Dec 31, 2021, raising another MYR974.51 million for the company. \u201cImportantly we are not just an airline anymore, solely reliant on airfares. We are an investment company with a portfolio of synergistic travel and lifestyle businesses, all of which are on track to become industry leaders in their respective fields in Asean,\u201d he explained. \u201cOur robust and diverse company portfolios will allow us to fast-track the regularisation of our financial position, and affirm the strong viability of our business moving forward,\u201d he added. On the airline, Fernandes said, \u201cWhile 2021 was the most difficult and disrupted year in the history of commercial aviation I look ahead with greater confidence in 2022. The group has reduced costs significantly and continues to operate with one of the lowest cost bases in the world. Recovery is well underway for the aviation and airline industry. We are continuing to ramp up domestic operations in our core markets in Malaysia, Indonesia, Thailand and the Philippines to near pre-Covid levels on a number of key routes. \u201d\u201cWhile there may be some delays for international flights to return to pre-Covid levels due to the fast-spreading Omicron variant, I believe this will be short-lived thanks to accelerated booster shots and the world learning to live with Covid globally. Notwithstanding the new variant, many countries have begun to transition gradually into an endemic phase. I am hopeful that borders will reopen gradually throughout 2022 and we will see a return to normal capacity for our international services by the middle to third quarter of this year. \u201dAirAsia triggered the financial distress criteria, known as PN17 back in July 2020. This came after its external auditor flagged significant uncertainties that cast doubt on its ability to continue as a going concern. The Malaysian stock exchange has given AirAsia 18 months to address the issues in view of the COVID-19 pandemic. Listed companies that are classified as PN17 will be required to submit a regularization plan within 12 months or risk being delisted from the stock exchange, according to the regulations. AirAsia has been aggressively building its digital businesses and its ASEAN Super App over the last two years as most of its planes were grounded due to the ongoing COVID-19 pandemic. It has introduced The group has hoped to build its super app, modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offer a variety of services including ride-hailing, food delivery, and payment services. On Monday, the company has announced it has secured its Certificate of Approval (COA) from the Civil Aviation Authority of Malaysia (CAAM), to conduct remote drone pilot training. AirAsia said the latest development supports the upcoming drone pilot project for the delivery of goods from AirAsia\u2019s e-commerce platforms, using automated drones. AirAsia posted a net loss of MYR887 million ($212.32 million) in the third quarter of 2021, from MYR851.78 million ($203.88 million) a year ago, as the impact of the Covid-19 pandemic continues to affect the group\u2019s operations adversely. The group said the net loss was also due to its investment in technology, talent, and network as it continues to scale up its Super App and air cargo unit Teleport. Quarterly revenue declined 36.9 percent to MYR295.89 million from MYR468.94 million a year earlier. For the nine months ended Sept 30, 2021, AirAsia\u2019s net loss narrowed to MYR2.23 billion from MYR2.66 billion in the same period in 2020. Revenue fell to MYR1.02 billion from MYR2.97 billion."}, {"url": "https://technode.global/2022/01/13/japans-jcb-injects-5m-in-malaysian-fintech-firm-soft-space-in-strategic-partnership/", "page": 63, "title": "Japan\u2019s JCB injects $5M in Malaysian fintech firm Soft Space in strategic partnership", "contents": "Malaysian fintech player This strategic partnership is the first of its kind in Malaysia for the payment giant, Soft Space said in a statement, adding that it involves a combination of $5 million investment in Soft Space and a series of business collaborations that are aimed at capitalizing on Soft Space\u2019s fintech-as-a-service business model, technology and regulatory know-how, and JCB\u2019s global recognition, vast alliances, and brand reach. This is part of the first tranche of funding on the horizon for Soft Space with other investments to follow in the future. The partnership also demonstrates the confidence JCB has in Soft Space\u2019s management, technology portfolio and execution strategy in today\u2019s highly competitive fintech industry. JCB owns and operates one of the largest payment schemes in Japan supporting about 37 million merchants and 140 million cardmembers around the world, by capitalising on Asia\u2019s economic growth. Backed by these assets, JCB has a vision to become \u201cAsia\u2019s leading payment brand\u201d and will expand the brand globally by leveraging its strength in Asia \u2013 especially in Southeast Asia (SEA) \u2013 to become a competitive brand preferred by Japanese and international cardmembers. To this end, JCB has targeted SEA as a strategic business enhancement region and has established its ASEAN Business Enhancement and Creation Department in Singapore last June to seek business opportunities within the region. This will serve as a template for further strategic alliances and investments within the region. The strategic partnership with Soft Space also aims to harness synergies between the two parties and includes the expansion of JCB\u2019s merchant network, the establishment of card issuing solutions, and the provision of customer marketing solutions. Other collaborative areas include, but not limited to, enhanced merchant acceptance, mobility-as-a-service (MaaS) and transit; payment gateways; cards-as-a-service (CaaS); white label services, API platform services and technical support services. Both Soft Space and JCB are committed to accelerating cashless payment both in Malaysia and SEA by utilising competitive and advanced fintech technologies, thereby establishing a link between Japanese consumers to SEA. \u201cI am honored to announce this investment and collaboration agreement. I believe this is not just an investment, but the first step towards realizing the boundless possibility with Soft Space,\u201d said Yoshiki Kaneko, President and Chief Operating Officer of JCB International Co. Ltd. \u201cWe are capitalizing on this opportunity to expand and secure our business in SEA by utilizing Soft Space\u2019s cutting-edge technology and robust network with the financial institutions. We are confident that this collaboration will go beyond Malaysia and expand across the globe,\u201d he said. JCB is a major global payment brand and a credit card issuer and acquirer in Japan. It launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. \u201cWe are humbled by this investment by JCB. Being JCB\u2019s first investee in Malaysia assures us that we are on track to develop financial solutions that will fortify payment acceptance between Japan and SEA, and benefit both regions when borders open up again. This bridge between our regions will also serve as a roadmap for us to enter other regions globally in the future\u201d said Joel Tay, Chief Executive Officer of Soft Space. Founded in 2012, Soft Space is a SoftPOS player headquartered in Kuala Lumpur, Malaysia. The startup simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 30 financial institutions across 10 countries adopting its payment solutions, Soft Space is supported by MDEC\u2019s Global Acceleration and Innovation Network (GAIN) programme and received financial support through MIDA\u2019s Domestic Investment Strategic Fund in 2012. Today, Soft Space has an expansive range of product offerings that span white-label e-wallet solutions to its flagship Tap to Phone technology, which is the world\u2019s first SoftPOS solution to support secure PIN entry. The solution has received endorsements from major card schemes such as Visa, UnionPay International, Mastercard and Malaysia\u2019s MyDebit, and has been deployed in some of the largest financial service institutions and corporate enterprises in the Middle East, North America, Europe, and Asia Pacific. Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations"}, {"url": "https://technode.global/2022/01/12/southeast-asia-neobank-crowdo-closes-5-9m-pre-series-b-convertible-bridge-round-from-gobi-ivest/", "page": 63, "title": "Southeast Asia neobank Crowdo closes $5.9M pre-Series B convertible bridge round from Gobi, Ivest", "contents": "CrowdoIn a press statement, Crowdo said the convertible round also saw participation from SEEDS Capital, the investment arm of Enterprise Singapore. In addition, Impact Investment Exchange Pte Ltd (IIX), an impact and sustainability investors, provided debt financing through WLB4Climate, the fourth issuance in IIX\u2019s innovative Women\u2019s Livelihood Bond series. Crowdo has disbursed over S$100 million in financing, seen its monthly revenue grow by more than five times last year, achieved group profitability in mid-2020, and launched a supply chain digitization platform. Leo Shimada, Co-Founder and Group CEO of Crowdo said, \u201cWe have proven ourselves to be one of the most innovative and capital-efficient neobanks in the industry by transforming our S$1.4 million Series A into over S$100 million in disbursements to SMEs, while developing an end-to-end core neobanking system. I am confident that this new round of fundraising will accelerate Crowdo\u2019s ascension to new heights as a neobank market leader. \u201cIn line with our mission to use innovative technology to improve people\u2019s livelihoods, we are now reinforcing our ESG infrastructure and product line-up. Thanks to IIX, one of our flagship products will deliver up to $50 million in financing to women-led businesses and companies over the next few years to promote gender equality and increase women\u2019s access to financing,\u201d he added. The funds will be used to expand Crowdo\u2019s neobank platform in Singapore and Indonesia and scale its ESG financing portfolio. Crowdo is headquartered in Singapore but fully licensed by the Indonesian financial authority Otoritas Jasa Keuangan for digital lending in since 2017. The fintech is also registered with the Securities Commission Malaysia. In 2021, Crowdo facilitated close to S$10 million in equity investments in Malaysia. This month, the neobank plans to launch a new ESG financing product targeting women-led enterprises with a plan to disburse up to S$16 million in 2022. In July 2021, Jin Hui Wong, Partner of Ivest Capital, said, \u201cWe have observed the significant rise of fintech industry across the world and we think the next fintech wave would happen in Southeast Asia. As an existing investor of Crowdo, we have seen the company deliver consistent growth over the years and we are very excited to lead this investment to make Crowdo the market leader in the region. \u201dDan Chong, Managing Director of Gobi Partners, said, \u201cGobi Partners\u2019 strong commitment to ESG investing is a perfect match with Crowdo, which leverages its unique neobank technology to improve access to financing to SMEs and women-led businesses, two key groups that have been traditionally underserved by legacy banks. We are excited to back Leo and Nicola and their team once again, as Crowdo progresses along its journey to improve lives and drive social impact with technology. \u201dCrowdo offers its SME clients solutions: one platform assists SMEs to digitize their operations to boost productivity, and the second platform helps SMEs understand and access financing and banking products. The fintech has partnered with SME"}, {"url": "https://technode.global/2022/01/12/fintech-startup-paywatch-raises-5-23m-in-seed-funding-round-led-by-third-prime-and-others/", "page": 63, "title": "Fintech startup Paywatch raises $5.23M in seed funding round led by Third Prime and others", "contents": "PaywatchSparkLabs, Won & Partners and CTK Investments also participated in this round, Paywatch said in a statement. Operating in South Korea, Malaysia and Hong Kong, the company plans to use the fresh funds to further grow its presence in existing markets, as well as accelerate expansion efforts into new Southeast Asian markets, including Indonesia and the Philippines. \u201cA predictable and healthy financial lifestyle plays a big role in ensuring workers\u2019 happiness and mental health, but achieving it is only possible when workers can deal with unexpected financial burdens. \u201cPaywatch aims to promote financial inclusion by helping workers achieve financial security and gain financial access to major banks. For companies, our flexible payroll system has made them more competitive in attracting talent and increased retention in the face of the \u2018great resignation\u2019,\u201d said Richard Kim, Founder and Chief Executive Officer at Paywatch. With this seed financing, Paywatch welcomes Third Prime as a new partner. \u201cThe team at Third Prime has an exemplary record of actively helping emerging FinTech companies to scale and drive value for end-users. We are excited to leverage their experience and expertise at this time of rapid growth for Paywatch,\u201d said Alex Kim, Co-Founder and President of Paywatch. Founded by brothers Richard Kim and Alex Kim, Paywatch takes a big step towards democratising the financial system in Southeast Asia. Richard \u2013 a financial veteran, former country manager of MasterCard Prepaid, and former Senior Vice President of HSBC in South Korea \u2013 recognised that his own previous employees lacked access to banks and were forced to turn to high interest cash advances on credit cards or payday lenders to cope with unexpected financial strain. Paywatch\u2019s unique system reduces the default risk on workers, which enables those workers to bank with top-tier financial institutions and disrupts high interest payday lending practices. Paywatch claimed itself as the only EWA service provider in Asia that works with top banks \u2013 such as Hong Leong Bank in Malaysia and Hana Bank in South Korea \u2013 to provide workers access to their earned wages, in real-time, before pay day. In addition to providing liquidity to the workforce, Paywatch also serves as a bridge that provides its underbanked users with direct financial access to reputable banks. To date, Paywatch has integrated with five established financial institutions across Asia. Paywatch also noted that the majority of the Southeast Asian workforce is considered underbanked, with over 55 percent of Malaysians not having the access to financial resources and services \u2013 and this percentage is even higher in other markets. \u201cOn-demand pay has seen meaningful traction in the United States as a modern way for individuals to exercise greater control over their financial health. We see an enormous opportunity for Paywatch to use this model to democratise access to capital throughout Asia,\u201d said Michael Kim, Partner at Third Prime. \u201cWe invested in Paywatch because we believe they are uniquely positioned to scale across the region and address this need, providing significant value for not only individuals but all other stakeholders,\u201d he said. Paywatch is part of the regulatory sandbox of the Financial Services Commission in South Korea and currently works with over 50 companies in the country, and is backed by notable Korean personalities such as South Korean singer and actor Choi Si-Won. In Malaysia, Paywatch has been recognised by the UN Capital Development Fund, Bank Negara Malaysia and MDEC for its financial inclusion initiatives. Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations"}, {"url": "https://technode.global/2022/01/11/malaysias-aerodyne-enters-strategic-partnership-with-norways-astralution-to-offer-drone-solutions-in-scandinavian-region/", "page": 63, "title": "Malaysia\u2019s Aerodyne enters strategic partnership with Norway\u2019s Astralution to offer drone solutions in Scandinavian region", "contents": "Aerodyne GroupWith Astralution\u2019s extensive background in aviation and crisis management in oil and gas, this partnership will bring long-term value to clients by providing tailored unmanned aerial vehicle (UAV) solutions, Aerodyne said in a statement. This effort will support the digitalization of the oil and gas sector by adding sensors and another layer of data analysis in the value chain, allowing up to $20 billion cost-savings from equipment failure and repair, it said. According to the statement, the data capture and digital transformation initiatives to be conducted in Norway\u2019s renewable energy industry is also in line with European Commission\u2019s climate aim of 55 percent greenhouse gas emissions reduction by 2030. \u201cThe total renewable capacity in Denmark and Norway in 2020 was 9,677 megawatts and 37.2 terawatts respectively, making it a huge market to tap into in terms of renewable energy asset management. This is especially since the EU is looking to install 30 gigawatts worth of wind farms every year from 2021 to 2030,\u201d said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. \u201cThere is also a huge opportunity to break data silos in the oil and gas sector, and with room to improve in how data can be standardized, integrated and analysed. Our AI-powered asset management solution \u2013 Vertikaliti \u2013 will not only provide up to 90 percent time savings with smart oil and gas monitoring systems, 35 percent operation cost savings for wind turbine analysis but also up to 97 percent increased productivity for solar panel inspections,\u201d he added. Aerodyne is a DT3 (Drone Tech, Data Tech, and Digital Transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enabling technology for large-scale data operations, analytics, and process optimization. Since 2014, it has managed more than 560,000 infrastructure assets with 458,058 flight operations and managing over 380,000km of power infrastructure across 35 countries globally. It has also been providing cloud-based oil and gas infrastructure, powerline, offshore and onshore wind turbine, and solar panel inspection and management solutions, empowering clients to make strategic decisions based on real-time data. \u201cWe are very pleased to represent Aerodyne in Scandinavia. For Astralution, this improves our competitive edge and opens up a number of new opportunities in a large growing market. With Aerodyne\u2019s capability and capacity included, Astralution is able to present state of the art SaaS and DaaS solutions to the Scandinavian marketplace,\u201d said Nina Bokn Solheim, Founder and Chief Executive Officer of Astralution. Founded in 2015, Astralution is a drone technology pioneer based in Stavanger, Norway. The company is a provider of innovative mapping and surveying solutions through industry leading expertise, and assists customers with their digital transformation phase. The company has for several years been developing and providing service with highly specialized systems with both local and international partners, including the ongoing development of an EX-zone 1 system. The company has contributed to the development of the new EU drone regulations, representing Norway in the ASD-STAN committee. Malaysian drone firm Aerodyne makes strategic investment in AI & data analytics firm Synapse Innovation"}, {"url": "https://technode.global/2022/01/10/s-p-setias-alex-chi-discusses-how-process-structure-and-culture-are-important-in-cultivating-corporate-innovation-origin-innovation-awards-qa/", "page": 63, "title": "S P Setia\u2019s Alex Chi discusses how process, structure, and culture are important in cultivating corporate innovation [ORIGIN Innovation Awards Q&A]", "contents": "Digitalization is the game changer amid the COVID pandemic. As businesses worldwide grapple with the changing consumer and enterprise environment, those that are able to make the shift toward digital transformation are the ones that are able to successfully navigate these trying times. According to Alex Chi, Head of Group ICT and Digital Transformation at S P Setia Berhad, such digitalization in the property market has provided benefits amid movement control orders and general limitations in public movement. In a S P Setia Berhad is a winner in the Setia develops for every possible need, from townships to eco-sanctuaries, luxury enclaves, high-rise residences, and commercial, retail as well as integrated mixed developments. The company is guided by its brand mantra \u2018StayTogetherStaySetia\u2019 in its approach to holistic living supported by our development philosophy of \u2018livelearnworkplay\u2019 making developments uniquely Setia. Alex Chi is an experienced senior technology leader who worked in a few Fortune 500 companies across the IT, Banking, Oil & Gas, and Real Estate industries. Before joining S P Setia, Alex was the former Head of Development and Operations, Consumer Insights division under Experian Malaysia, a leading global information service company. Alex\u2019s current role is to reimagine homebuyers\u2019 journey and trailblazing smart and sustainable development for future cities and townships. In addition, he actively collaborates with government agencies, accelerators, and startups to thrive in the digital age. Alex is recognized with the CIO75 ASEAN 2021 award and the ex-mentor for United Nations Capital Development Fund (UNCDF) Gig Economic Challenge and Ingenuity19 voluntary program to help generate new social and commercial ideas that will benefit the city, people, and economy. The megatrends on technologies\u2013namely A, B, C, D, E, F, G will remain on the rise. A for Artificial Intelligence, B for Blockchain, C for Cloud Computing, D for Big Data, E for Internet of Everything, and F and G for 5G. The speed of adaption and evolution will be a game-changer for the company. The pandemic has changed the way of doing business, how the employees work, how to evolve employee and customer engagement under the new norm. Digitalization is the way to go and has to be intensified under the new norm. For example, in S P Setia, the groundwork on Digital Transformation has started back in 2019\u2013we managed to brace the pandemic with a graceful transition into 100 percent Work From Home and enable online property viewing and booking within a brief period. The key success factors of corporate innovation are \u2014 Process, Structure, and Culture. First, process needs to be optimized. Second, enable a structure to facilitate agile resources and empowerment. And third, cultivate culture to embrace change and nurture unorthodox thinking. The silver lining under the dark cloud of the pandemic is that digitalization in the property market has been largely accelerated. Virtual home tours and online booking have become essential due to movement control orders (MCO) and general precautions from the public. Property developers and agents have gone digital and virtual viewing is much more time-saving to present to multiple homebuyers in a day and less traveling. Nevertheless, the transaction on the property, such as signing some legal documentation, is still analog and needs to be digitalized. Local authorities and regulators are instrumental in a seamless homebuyer journey. Finding the silver lining in the pandemic cloud. Trailblazing real estate digital transformation to reimagine homebuyer\u2019s journey. Announcing the winners of the ORIGIN Innovation Awards 2021"}, {"url": "https://technode.global/2022/01/10/airasia-secures-malaysian-regulator-license-for-remote-drone-pilot-training/", "page": 64, "title": "AirAsia secures Malaysian regulator license for remote drone pilot training", "contents": "Malaysia\u2019s budget airline With the approval, AirAsia has become first in Malaysia to provide industry support with quality remote pilot training, AirAsia said in a statement. \u201cWe are thrilled to be the first in Malaysia to win approval from CAAM for the accreditation of our remote pilot training organization (RPTO). The team has been working closely together with CAAM for months. We thank the regulator for their ongoing support and really look forward to starting our first class in coming weeks,\u201d said Ling Liong Tien, Chief Safety Officer of AirAsia Group. \u201cThe idea behind becoming an RPTO is to support the industry by providing quality remote pilot training leveraging our strong aviation background and decades of expertise. The UAS (unmanned aircraft system) has become an important element in many industries driving cost-effectiveness and numerous efficiencies,\u201cOur commitment is to develop a strong foundation, supported by our existing robust safety management system, crew resource management and human factors training programs along with the remote pilot training modules \u2013 both in the class and out in the field,\u201d he said. According to the statement, the latest development supports the upcoming drone pilot project for the delivery of goods from AirAsia\u2019s e-commerce platforms, using automated drones. \u201cWe are proud to be driving the drone delivery revolution in Malaysia. It\u2019s a lucrative and incredibly fast-growing market. Globally, the industry has already taken off and is projected to reach $7.39 billion by 2027,\u201d said Bo Lingam, Chief Executive Officer of AirAsia Aviation Limited. \u201cThis new training program provides an opportunity to upskill our Allstars and offer exciting new programs for the broader community, as well as supporting the drone industry in providing quality training to have more qualified remote pilots in Malaysia. No prior experience is necessary, making this a great opportunity for everyone to learn to fly,\u201cUltimately this supports our vision to launch urban drone delivery in the future for goods and retail items from airasia\u2019s e-commerce platforms. The skies are the limit as we can also potentially scale up to support remote areas for essential supplies during natural disasters for example,\u201d he said. According to the statement, the classroom training will be conducted at AirAsia Academy located in KL Sentral, Malaysia, and practical training will be conducted at the YMCA Kuala Lumpur field, adjacent to KL Sentral. \u201cInnovation has always been in our DNA and we can\u2019t wait to launch the new drone curriculum at the Drone Academy within our digital edutech arm, AirAsia Academy, as we continue to support the digitalization of Malaysia through a broad range of innovative tech-based training programs,\u201d said Aireen Omar, President of AirAsia Group (digital). \u201cDrone delivery will soon become our latest logistics solution, providing a strong boost to support the ever-growing e-commerce industry. Most importantly, this innovation will allow us to create new high-tech job opportunities for Malaysians. The ability to pivot is part of our culture and while some are losing their jobs in aviation, we offer a second chance for them to build a new career with us through e-commerce with initiatives such as this,\u201cAs a disruptive leader, we are ready to take on new challenges and embrace the wave of Industry Revolution 4.0 to our advantage by ensuring people are job-ready in the new digital era. Drones have the unique ability to truly transform and expand the delivery space, from e-commerce to supporting agriculture by distributing fertilizer and seeds more efficiently, to the transportation of medicines and supplies to remote rural areas, for example,\u201d she said. AirAsia partners more airlines to sell competitors\u2019 flights on super app"}, {"url": "https://technode.global/2022/01/10/malaysia-unicorn-carsome-raises-290m-in-series-e-financing/", "page": 64, "title": "Malaysia unicorn Carsome raises $290M in Series E financing", "contents": "Malaysia-based integrated car e-commerce platform This new financing further solidifies Carsome\u2019s position as the leading integrated e-commerce auto platform in Southeast Asia, Carsome said in a statement. According to the statement, the latest financing round was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw strong participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome said it plans to use the proceeds raised in this round of financing to accelerate investment in people, product, technology, data capability, infrastructure, and regional expansion of its retail brand, Carsome Certified, across key markets in Malaysia, Indonesia and Thailand. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Meanwhile, QIA is the sovereign wealth fund of the state of Qatar that invests and manages the state reserve funds. Founded in 2005, it is among the largest and most active sovereign wealth funds globally. It invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.65EP is an independently managed wholly-owned investment platform of Temasek which focuses on providing equity and structured capital solutions to established companies with regional or global aspirations, in Southeast Asia, Europe and the United States. In Singapore, the strategy of 65EP is to provide capital solutions to local enterprises with fundamentally sound businesses and help them expand regionally or transform strategically. It will also invest in leading companies and new economy businesses in Singapore and the region, ahead of their eventual listing in Singapore. SeaTown is a close-end fund focused on private equity investments managed by SeaTown Holdings International. SeaTown Holdings International is a Singapore-based investment manager focused on alternative, absolute return strategies. With over $6 billion of assets under management, SeaTown Holdings International manages multi-asset and public credit strategies through open-end funds as well as private investments strategies in closed-end funds. It is a wholly-owned subsidiary of Seviora Holdings and indirectly owned by Temasek Holdings. Malaysia-based Carsome raises $300M from Temasek-backed funds, QIA \u2013 report"}, {"url": "https://technode.global/2022/01/07/malaysia-based-carsome-raises-300m-from-temasek-backed-funds-qia-report/", "page": 64, "title": "Malaysia-based Carsome raises $300M from Temasek-backed funds, QIA \u2013 report", "contents": "Malaysia-headquartered used-car trading platform 65 Equity Partners and SeaTown Holdings Pte Ltd, which are both backed by Temasek, and the Qatar Investment Authority (QIA) are among the investors that participated in the fundraising, the people said. Carsome, Malaysia\u2019s first tech unicorn, is said to be planning for an initial public offering in the US later this year, one of the people was quoted as saying. Carsome has yet to respond to In November last year, it was reported that Carsome was seeking Founded in 2015, Carsome transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Malaysia unicorn Carsome seeks $200M in pre-IPO funding round \u2013 report"}, {"url": "https://technode.global/2022/01/05/malaysian-edtech-startup-pandai-raises-2-03m-from-y-combinator-500-global-and-others/", "page": 64, "title": "Malaysian edtech startup Pandai raises $2.03M from Y Combinator, 500 Global & others", "contents": "Pandai Education Sdn BhdAmong the investors that participated in the rounds are Y Combinator, Global Founders Capital, 500 Global, Soma Capital, Harvard, Pandai said in in a statement. Joining the round included Malaysian investors RHL Ventures, Falnas Capital, and Kembara Kapital. Angel investors including ex-Google director, unicorn startup founders, and prominent entrepreneurs from Malaysia, Australia, India, Indonesia, and United States, also participated in the round. Pandai noted the investment under RHL Ventures is part of Dana Penjana Nasional, which is an investment fund set up by the government of Malaysia to encourage venture capital firms to invest in high potential start-ups. \u201cWe launched Pandai in 2020 to make quality, personalized education accessible to every student. We are glad that investors believe in our vision and want to work together with Pandai to help improve the education system. We want to bring impact not only in Malaysia but also in other countries by expanding Pandai to other markets in the future,\u201d said Khairul Anwar bin Mohamad Zaki, Pandai Co-Founder and Chief Executive Officer. \u201cThe fund will be used to enhance the app to give a better learning experience for school students, as well as assist their parents and teachers. We are also looking to collaborate with educational institutions and other education providers,\u201d he added. Prior to the current fundraising, Pandai became the first Malaysian education technology startup to be accepted into the prestigious Y Combinator accelerator program, based in Silicon Valley, United States. Pandai is a learning app that focuses on learning and assessment to help primary and secondary school students improve their academic performance. It was founded in January 2020 by Khairul Anwar, Akmal Akhpah, and Suhaimi Ramly, who have been in the education industry for the past 14 years. Through Pandai, students learn using gamified quizzes aligned to the national curriculum. Students also receive personalized analysis using artificial intelligence and machine learning algorithms that allow them to identify their strengths and weaknesses. Dedicated modules for parents and teachers are also integrated within the app to monitor and support students\u2019 progress. Pandai now has more than 300,000 registered students and prides itself as a social enterprise that balances social impact with best commercial practices. Pandai recently received certification from Education Alliance Finland (EAF), an international pedagogical accreditation agency that evaluates learning solutions based on global quality standards. Previously, it received various awards and grants from Malaysia\u2019s Bumiputera Agenda Steering Unit (TERAJU), Cradle Fund, Malaysian Ministry of Science, Technology and Innovation (MOSTI), Malaysian Global Innovation and Creativity Centre (MaGIC), Islamic Development Bank Group (IsDB), and other organisations. Malaysia EdTech firm ReSkills EdTech raises $1.5M funding for Southeast Asia expansion"}, {"url": "https://technode.global/2022/01/05/malaysian-drone-firm-aerodyne-makes-strategic-investment-in-malaysian-ai-and-data-analytics-company-synapse-innovation/", "page": 64, "title": "Malaysian drone firm Aerodyne makes strategic investment in AI & data analytics firm Synapse Innovation", "contents": "Aerodyne GroupThis investment is engineered to supercharge Aerodyne Group\u2019s prowess in AI and data analytics, as well as strengthening Aerodyne Group\u2019s technology support for its international operations, spanning 35 countries, Aerodyne Group said in a statement. Synapse\u2019s Chief Executive Officer Afnizanfaizal Abdullah, who is a prominent AI scientist in Malaysia, will continue to lead the company and remain as a shareholder in the business. Headquartered in Johor, Malaysia, Synapse is an AI and data analytics company which focuses on designing and developing machine learning algorithms for cloud-based predictive analytics services for various sectors including agriculture, infrastructure and oil and gas. Aerodyne Group said the group together with Synapse will be developing the next generation drone data intelligence platform coupled with smart nested autonomous drone solutions. Aerodyne Group Founder and Chief Executive Officer Kamarul A Muhamed said that this investment into Synapse is the first of many future mergers and acquisitions (M&As) focusing on enhancing the breadth and depth of the group\u2019s data technology. \u201cSynapse is perfectly aligned to this vision and have the expertise to contribute to this agenda. Aerodyne Group also intends to accelerate Synapse\u2019s growth plans exponentially under its technology ecosystem building agenda to champion Malaysian technology,\u201d he added. Afnizanfaizal Abdullah also expressed excitement regarding the next phase of Synapse being an Aerodyne Group-backed company to help accelerate its scale-up plans to grow its operations from 30 data scientists to 500 AI engineers and data scientists within 2 to 3 years. \u201cWe are honored for Synapse to have been given the trust by Aerodyne Group to push technological boundaries using our AI and data technology expertise, accelerating Synapse\u2019s growth through this synergistic partnership with Aerodyne Group. Technologies are meant to be disrupted, and advancing drone intelligence will be an absolute game-changer,\u201d he added. Aerodyne Group Chief Strategy Officer Amir Zakwan Anuar also said it is inevitable that the augmentation of AI will reinvent possibilities and solidify the foundation of Aerodyne Group\u2019s future. \u201cThrough this investment into Synapse, Aerodyne Group will reinforce its competitive edge as the top-ranked drone technology company in the world, strengthening its position for an international public listing within the next few years,\u201d he added. Aerodyne Group is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enabling technology for large-scale data operations, analytics, and process optimization. Aerodyne Group employs over 700 drone professionals to operate on an unprecedented level in the UAS services sector, having managed more than 560,000 infrastructure assets and has surveyed over 380,000 km of power infrastructure across 35 countries globally. Malaysian drone tech firm Aerodyne explores dual-listing as it starts IPO process"}, {"url": "https://technode.global/2022/01/05/malaysian-central-bank-issues-discussion-paper-on-licensing-framework-for-digital-insurers-and-takaful-operators/", "page": 64, "title": "Malaysian Central Bank issues discussion paper on licensing framework for digital insurers & takaful operators", "contents": "Malaysian Central BankThe discussion paper outlines the proposed framework for licensing new digital insurers and takaful operators (DITOs) to encourage digital innovation in the insurance and takaful sector, Bank Negara Malaysia (BNM) said in a statement. It also complements the bank\u2019s initiative on digital banks and digitalisation of the financial sector, said the central bank. According to BNM, DITOs are expected to contribute to a more inclusive, competitive, efficient insurance and takaful sector in line with evolving needs of consumers. \u201cThe proposed framework aims to attract new digital players that can offer innovative solutions to address critical protection gaps among the unserved and underserved market segments, as well as enhance customer experience and elevate trust,\u201d said BNM Governor Nor Shamsiah Mohd Yunus. The framework will adopt a balanced approach, the central bank said, adding that the focus is to encourage more significant innovation, whilst promoting financial stability and protecting consumer interests. According to the bank, the discussion Paper covers the requirements for entry, such as criteria in assessing an application and capital requirement, and explores new business models such as risk-sharing. The bank also aims to issue an exposure draft upon obtaining feedback from the discussion paper. This will be followed by a policy document on prudential and business conduct requirements for DITOs in 2022. The applications for a DITO licence will be open at a later date. The bank has invited written feedback on the discussion paper by February 28, 2022. Bank Negara Malaysia working with \u2018relevant authorities\u2019 to address concerns over BNPL"}, {"url": "https://technode.global/2021/12/28/malaysias-country-heights-inks-licensing-and-collaboration-agreements-with-chinas-jd-com/", "page": 64, "title": "Malaysia\u2019s Country Heights partners with China\u2019s JD.com to bring its omni-channel e-commerce platform to Malaysia", "contents": "Malaysia-based property developer The collaboration will lead to the development of JD. com\u2019s Omni channel business model using JD. com technologies and Country Heights\u2019s resources for the Malaysian market, Country Heights said in a bourse filing to Malaysian Stock Exchange. According to the filing, JDMines Sdn Bhd will be set up and to operate this initiative and it will be 70 percent owned by Country Heights with the remaining 30 percent owned by Star Pulse Sdn Bhd, a technology incubator who will be working with Country Heights on the implementation and execution of the omni channel business model. With this collaboration, JDMines will build the first physical store of about 100,000 square feet of retail space on the ground floor of Mines International Exhibition and Convention Centre (MIECC), located at the Mines Resort City, Selangor. According to the agreement, Country Heights through JDMines will receive the followings from JD. com:Stage 1 \u2013 the consultancy services on the analysis study of the customers, local market and business trends and assessment of the stores and the business natures. Stage 2 \u2013 the feasibility plan, digitalization of store, delivery of online retailing and e-commerce business and operational solutions for the Stores with omni channels. Stage 3 \u2013 the implementation services, including product and merchandize supply chain configuration, staff training for operation and management of the digital solutions, installation and configuration of hardware, customization of software, concept design and implementation. Country Heights said that the execution of the agreements is in line with the group\u2019s digital transformation plan. \u201cWe\u2019ve been planning this with JD. com for almost 1 year and we are pleased to finally be able to announce the collaboration. This initiative is one of the building blocks of Country Heights\u2019s transformation plan whereby we are partnering with one of the leading technology e-commerce companies in China to bring technology and products into Malaysia leveraging on our assets and branding to enhance the consumer experience. At its core, omni-channel is defined as a multi-channel sales approach that provides the customer with an integrated customer experience,\u201d said Jared Lim, Managing Director of Country Heights. Country Heights Founder and Chairman Lee Kim Yew also said, this is a pivotal moment in Country Heights which was founded to deliver \u201cBetter Living\u201d to Malaysians. \u201cIn line with our overall transformation plan, a partnership with one of the most successful technology groups in China will allow us to use technology to leverage on our assets and create significant value to our Group. Platforms allow product and services to extend our operations beyond our home state, catering for consumers across the entire market. \u201cThe rapid spread of technology accelerated by the pandemic has led to a pressing need for businesses to adapt. Many businesses, especially in Malaysia and developing economies, are digitally disconnected. To face these challenges, businesses need to embrace technology. The pandemic has pushed to an inflection point where embracing technology is no longer an option but a necessity,\u201d he said. Listed on the main market of Bursa Malaysia Securities Berhad, Country Heights is a property firm that primarily focuses on property development and investment holdings, with subsidiaries involved in diverse industries such as health, hospitality, membership and tourism and education. JD. com is an international e-commerce company headquartered in Beijing. It is one of the two massive business to consumer (B2C) online retailers in China by transaction volume and revenue. The company was founded by Liu Qiangdong on 1998, and its retail platform went online in 2004. It started as an online magnetooptical store, but soon diversified, selling electronics, mobile phones, computers, and similar items. The company changed its domain name to 360buy. com in June 2007 and then to JD. com in 2013. JD. com has invested in high tech and AI delivery through drones, autonomous technology and robots, and possesses the largest drone delivery system, infrastructure and capability in the world. It has recently started testing robotic delivery services and building drone delivery airports, as well as operating driverless delivery by unveiling its first autonomous truck. JD. com-backed Tiki raises $258M in Series E funding round led by insurer AIA"}, {"url": "https://technode.global/2021/12/28/sgx-catalist-listed-hatten-land-signs-comprehensive-collaboration-agreement-with-huawei/", "page": 64, "title": "SGX Catalist-listed Hatten Land signs comprehensive collaboration agreement with Huawei", "contents": "SGX Catalist-listedUnder the CCA, both companies will jointly explore and develop opportunities in cloud computing and enterprise intelligence, renewable energy, data centres, fintech infrastructure in Melaka and the region by utilising their respective capabilities in technology, operational resources and business networks, Hatten Land said in a statement. Due to the fast-paced digital transformation and impact of the pandemic, it said that Southeast Asia has seen phenomenal growth in digital entertainment, including the gaming and esports sector of which the Malaysian gaming market alone is expected to show an compound annual growth rate (2021-2026) of 9.6 percent, resulting in a projected market volume of $676 million by 2026. It said that tapping on the high growth and profitability potentials of the digital entertainment industry, Huawei endeavours to share its world-class expertise and cutting-edge technology in cloud and enterprise intelligence with Hatten to co-design and co-market innovative cloud products and services, including gaming cloud solutions. It also claimed that Huawei Cloud is one of the world\u2019s fastest growing major cloud service provider currently. Likewise in the cloud computing sector, it said that the Southeast Asian cloud market is expected to reach $40.32 billion by 2025. The Hatten-Huawei partnership will also focus on the joint development of eco-friendly data centres in Melaka to support Hatten\u2019s ongoing digital initiatives and cater to the surging demand of data centres from cloud service providers in the region, it said. In addition, it said both companies aim to work on potential opportunities of large-scale solar facilities in the region, thereby augmenting the group\u2019s sustainability efforts. As a start, it said that Hatten\u2019s first photovoltaic (PV) project of installing over 6,000 solar panels on the roof of the largest mall in Melaka, Dataran Pahlawan Melaka Megamall, in 2022, will be equipped by Huawei\u2019s smart inverters. It also said that the company has substantial hospitality and commercial property businesses and assets in Melaka, a UNESCO World Heritage Site which is a major tourist attraction in Southeast Asia. According to the statement, Hatten has recently had undertaken a major strategic review to re-purpose its malls and to pivot its business model towards blockchain-related and digital economy trends as well as opportunities in digital assets. It said that Hatten\u2019s digital opportunities include building \u201cvirtual\u201d world, starting with a digital twin city of Melaka (Digital Melaka), which will contain non-fungible tokens (NFTs), tokens and other digital assets using blockchain and initiatives. It said that Huawei Cloud will endeavour to support Hatten\u2019s strategies and initiatives in blockchain, NFT, \u201cgreen\u201d and \u201cclean\u201d digital assets, custodian services and other digital asset creation and monetisation activities by providing its latest research and innovations on industrial-grade infrastructure architecture designed for financial institutions. With the partnership targeted towards the regional markets, it said there are strong opportunities to leverage on both Huawei and Hatten\u2019s business networks to harness the emerging trends and business opportunities in Asia\u2019s digital economy. \u201cThe Huawei-Hatten partnership is a strong and uniquely complimentary combination. Huawei\u2019s expertise in innovation, technology and complex digital product integrations, and Hatten\u2019s established track record and business network in Malaysia and the region will allow us to build the next generation of cloud solutions, digital platforms and renewable energy solutions,\u201d said Colin Tan, Executive Chairman and Managing Director of Hatten Land. \u201cTogether, working as one team, we aim to unlock the full potential of digital transformations and business opportunities within the new digital economies in Asia,\u201d he said. Huawei Cloud Singapore Managing Director Rex Lei also said, \u201cHuawei Cloud is excited to be working with Hatten to support its digital related ventures. We believe our technology and innovation will help with the multifaceted needs Hatten has for its strategic pivot. Hatten Land is a property developer in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education. Hatten Land Limited began trading on the Catalist board of SGX-ST on February 28, 2017 after the completion of the reverse takeover of VGO Corporation Limited. Malaysia property developer Hatten Land partners Singapore FinTech Hydra X to develop and operate cryptocurrency exchanges"}, {"url": "https://technode.global/2021/12/21/loreal-malaysia-to-double-down-on-social-commerce-in-2022-to-help-250-salons-affected-by-the-pandemic/", "page": 64, "title": "L\u2019Or\u00e9al Malaysia to double down on social commerce in 2022 to help 250 salons affected by the pandemic", "contents": "The COVID-19 pandemic\u2019s adverse impacts on businesses in Malaysia did not leave hair salons unscathed. Since Malaysia\u2019s first movement control order (MCO 1.0) in March 2020, over 16,728 registered hair salons, employing over 74,500 workers, were forced to close. The industry, which typically contributes In response, global beauty brand L\u2019Or\u00e9al partnered with social commerce enabler Avana to introduce social commerce to L\u2019Or\u00e9al Malaysia salon partners while tapping into Southeast Asia\u2019s E-commerce potential, which recorded a total market of $109 billion in 2020. Social commerce revenue in Thailand and Vietnam has already overtaken traditional e-commerce sales, and Malaysia and Indonesia are expected to follow suit in the next three to five years. L\u2019Or\u00e9al Malaysia chief digital officer Edward Ling said, \u201cWe are constantly exploring new ways of marketing products and helping our L\u2019Or\u00e9al Professional salons do business both in-store and online. As most of our salon partners are new to digitalization, we wanted to reduce the technical complexity and enable the digitalization of stores on their behalf. This allowed them to focus on the social selling aspects. \u201cWe saw Avana as the ideal partner to do this as they enable the commercialization of social media and messaging platforms that business owners use to engage with their customers. We have set the stage for post-pandemic business growth via online sales,\u201d he added. The partnership brought brick-and-mortar salons into the digital world, beginning with first, eight participating salons and culminating in around 100 salons by December this year. Salon owners quickly generated buzz and hype for their new product launches, resulting in viral news and higher conversion rates from interest to sale. This social commerce initiative, which essentially enables e-commerce transactions on social media, also helped maintain the personal touch between salon owners and customers, a key facet of the salon business that drives trust and intimacy, which translates into high-quality engagement and sales. Currently, this initiative is processing over MYR1 million ($236,600) monthly in sales and the figure continues to grow, L\u2019Or\u00e9al Malaysia said in a press statement today. Following this overwhelming success on social commerce, L\u2019Or\u00e9al will be doubling down on social commerce with an aim to roll out the initiative to 250 salons across Malaysia in 2022. Salon owners harnessing the power of social commerce can sell through multiple social media channels simultaneously. Participating salons that previously collected their orders via WhatsApp automated customer orders using Avana\u2019s WhatsApp Commerce solution, through which salon customers can browse the entire range of salon products and directly place their orders. Another added revenue stream was Avana\u2019s Facebook Live Shopping channel, which allows salon owners to livestream and collect real-time orders automatically. Avana founder and CEO Luqman Adris said, \u201cThe services sector was badly affected by pandemic restrictions, with hairdressers among the hardest hit. Salons needed to maintain customer loyalty and brand engagement despite being unable to provide in-person hairdressing services. \u201cAvana was able to help hundreds of salons on our social commerce platform quickly, enabling individual salon owners and their team members to sell hair styling and treatment products directly to their customers via multiple social media channels as an additional income stream while keeping customers engaged long-term,\u201d he said. Less than four months since the initiative\u2019s nationwide launch, the top five performing L\u2019Or\u00e9al Professional salons managed to rake in a quarter of a million ringgit in revenue. One of the salons using this service, Code 88 Hair Studio, generated ten of thousands of ringgit worth of sales in just under two hours utilizing Avana\u2019s Facebook Live Shopping solution. Code 88 Hair Studio owner Jansen Hau said, \u201cWe benefited from great teamwork and streamlined promotions. Secondly, we received support from L\u2019Or\u00e9al while operating on Avana\u2019s systematic and complete platform, which allows our customers to make purchases conveniently. Lastly, we received strong technical support and brand assets to help drive social media postings and generate more online sales. \u201dAnother salon, De Hair Room, made more than MYR50,000 ($118,300) in sales via Avana-driven social commerce events \u2014 its first stint with social commerce."}, {"url": "https://technode.global/2021/12/20/malaysian-fintech-firm-capbay-secures-7-1m-from-kenanga-investment-bank/", "page": 64, "title": "Malaysian fintech firm CapBay secures $7.1M from Kenanga Investment Bank", "contents": "CapBayCapBay said in a statement on Monday that the investment is a step forward to growing CapBay\u2019s Shariah-compliant Supply Chain Finance arm, CapBay Islamic, which is approved for Shariah-compliant P2P financing by the Securities Commission Malaysia (SC). \u201cCapBay is thrilled to receive the support from Kenanga and for sharing the same spirit of helping small and medium enterprises (SMEs) thrive especially during this time. The injection of funds will help to accelerate the growth of Malaysian SMEs and with the launch of our Islamic receivables and working capital financing solutions, we believe that this will add another dimension to our efforts in supporting the SMEs in the country\u201d,\u201d said Mohd Mokhtar Mohd Shariff, Chairman of CapBay. Meanwhile, KIBB Managing Director Chay Wai Leong said:\u201c CapBay has been a great partner and with this investment, we hope that we can bring a positive impact to the SME community in Malaysia. We have been collaborating with CapBay to develop an Islamic fintech to serve a wide range of SMEs through a digital platform that enables a faster and more convenient process. \u201dLast year, CapBay formed a partnership with KIBB through the acquisition of a 49 percent stake in its subsidiary, KCI to form Malaysia\u2019s first Islamic supply chain finance fintech. Leveraging on CapBay\u2019s strong technological expertise, SMEs can now obtain flexible and cost-effective financing seamlessly through a digital platform. Through the innovation of the Malaysian fintech, KCI can also benefit from predicting risk in each transaction that goes beyond just financial statement analysis but utilises machine learning to assess thousands of data points such as historical relationships, payments, contract quality and other patterns. This data-driven approach helps to invigorate the Islamic supply chain finance solution for the underbanked. As the SME financing market continues to grow rapidly, CapBay said the demand for a Shariah-compliant option has increased. According to the Association of Islamic Banking and Financial Institutions Malaysia, it predicted that half of Malaysia\u2019s banking assets to be Islamic by 2030 as the industry\u2019s growth outpaces conventional banking. \u201cThe adoption rate of Islamic financing in Malaysia is growing \u2013 this is a clear reflection of the demand for Shariah-compliant products in the country. We noticed many of our clients seeking an Islamic alternative to our products and we are catering to this growing demand,\u201d said Mohd Mokhtar. With this latest initiative, CapBay said its P2P investors can now expand and diversify their investment portfolio by investing into Islamic financing notes. These notes are predominantly backed by government and Government-Linked Companies (GLC) receivables. It said CapBay differentiates itself by offering lower risk investment notes in a bid to enhance investor trust and confidence especially during these times of uncertainty. They recently launched a guaranteed investment programme which is Malaysia\u2019s first guaranteed P2P investment backed by a reserve fund. Its P2P platform has maintained 0% default since its launch in March 2020. CapBay is a financing platform that helps SMEs grow and unlock cashflow trapped in their supply chain by providing financing solutions. Through its proprietary credit-decisioning model, businesses of all sizes can obtain financing while banks and investors can participate in high-quality financing deals. Since 2017, CapBay has financed more than 14,000 transactions worth over MYR1.4 billion ($330 million), serving over 800 SMEs. Its P2P investors have earned net returns of 10 percent per annum, with 0% financing loss. It has partnered several large corporates, banks and institutional investors to offer its solution. Established for more than 45 years, KIBB is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. Malaysian investment firm Kenanga Investors launches fund to invest in tech firms"}, {"url": "https://technode.global/2021/12/20/iris-capital-partners-launches-malaysias-first-venture-debt-fund/", "page": 65, "title": "Malaysia-based Iris Capital Partners launches $37.8M Venture Debt Fund", "contents": "Malaysia-based venture debt firm Iris Capital Partners has launched the country\u2019s first privately led venture debt fund, the Iris Fund, which aims to finance high-impact startups from Malaysia and the ASEAN region. The firm is one of eight VC fund managers selected under the Dana Penjana Nasional (DPN) program through Penjana Kapital, which is owned by the Finance Ministry of Malaysia. Penjana Kapital administers and facilitates the deployment of the Dana Penjana Nasional, a matching fund-of-funds program where the Government of Malaysia will match, on a 1:1 basis, funds raised by the VC fund managers from foreign and private local investors. The pioneer fund is co-managed by South Korea asset management firm \u201cWhile the Iris Fund isn\u2019t limited to specific sectors or funding stages, we do look for companies with comprehensive business plans and projections that have clear strategies for long-term growth prospects. The Fund is aimed to diversify capital sources for startups and help strengthen the financing opportunities in Southeast Asia,\u201d said Iris Fund Chairman Wan Kamaruzaman Wan Ahmad. \u201cThis inaugural venture represents the group\u2019s strong belief in the growth of the region. The fund will be the first of many partnerships with Iris Capital Partners as the group is looking to invest more in Malaysia and Southeast Asia,\u201d said Kimo Kim, Partner at the Iris Fund. \u201cThis fund aims to offer more accessible financing to startups and SMEs \u2013 while allowing founders to control their dilution better. \u201dThe Iris Fund aims to help propel Malaysian and Southeast Asian startups and SMEs to greater heights, as well as aid in the growth of Malaysia\u2019s economy through companies that are creating job opportunities in Malaysia, it added. Venture debt funds allow for more accessible financing options for early-stage startups with validated business models and clear market growth opportunities, including minimizing shareholding dilution, enhancing financial liquidity, and providing support for fundraising rounds throughout the region, the company said. This allows companies to maintain more autonomy over their assets while providing access to financing that will allow them to grow significantly over shorter periods of time. As one of the top three asset management firms in Korea, the partnership with Hanwha brings to the table an incredible wealth of unparalleled expertise, Iris Capital said. Kimo Kim comes from a long history of corporate venture capital and managing pension funds predominantly in the Southeast Asian region and now serves as the Principal for Hanwha Growth Fund under the Hanwha Asset Management Co. , while Yuntek Jung manages over 15 Global VC Funds and Direct Investments under Hanwha Asset Management Co, the company added. The Iris Fund\u2019s maiden investment, Growthwell Group Pte. Ltd (Growthwell Foods), is an alternative meat and seafood protein provider for F&B businesses in Singapore and 10 other countries in the APAC region. The Iris Fund was part of the $22 million Series A funding round by the company alongside other renowned investors, including Temasek Holdings Limited, Creadev, GGV Capital and DSG Consumer Partners. Growthwell, who is behind the vegan plant based brand HAPPIEE!, egg-free cooking ingredients brand OKK and plant-based ready meal brand Gomama, plans to use these investments to expand their manufacturing facility in Johor Bahru that is projected to create more job opportunities for Malaysians. Malaysia\u2019s Penjana Kapital partners Indonesia\u2019s AC Ventures to pave way for Malaysian start-ups to access $1T Indonesian market"}, {"url": "https://technode.global/2021/12/17/malaysian-securities-regulator-revises-spac-framework/", "page": 65, "title": "Malaysian securities regulator revises SPAC framework", "contents": "The \u201cThe SC re-evaluated the SPAC framework to ensure that it remains relevant and capable of spurring interest in listings and deals involving SPACs, thereby providing issuers with greater access to the capital market,\u201d said SC Chairman Datuk Syed Zaid Albar said in the statement. The revised SPAC framework will take effect on Jan 1, 2022. The revisions will, among others:To limit dilution to existing shareholders, new shares issued from the exercise of warrants will be restricted to not more than 50 percent of the total number of issued shares of the SPAC, the SC said. The framework for the listing of SPACs in Malaysia was first introduced in 2009 to promote private equity activities, spur corporate transformation and encourage mergers and acquisitions, all of which were intended to enhance the depth, breadth and competitiveness of the domestic capital market. The review of the SPAC framework is in line with the Capital Market Masterplan 3\u2019s aspiration to create a capital market that is relevant, efficient and diversified, the regulator added. \u201cWhile the Malaysian capital market has seen new development and innovation, the SC would like to remind investors that SPACs is an alternative capital market investment option that may carry higher investment risk when compared with shares of listed corporations with operating businesses. Investors should familiarise themselves with the nature of SPACs and consider whether the investment meets their objectives and risk profile,\u201d it said. The SC In the US, several Malaysia-based SPACs have filed for IPO. Malaysia-based Kairous Acquisition Corp Ltd, an Asia-focused SPAC led by the founder of Malaysia-based Kairous Capital, has started trading on Nasdaq on Wednesday. In September, Malaysia-based AEI CapForce II Investment, a blank check company targeting the financial technology and related sectors in Greater China or Southeast Asia, filed with the US Securities and Exchange Commission to raise up to $100 million, Malaysia capital market regulator reviews SPAC framework \u2013 report"}, {"url": "https://technode.global/2021/12/16/singapore-insurtech-igloo-extends-footprint-in-malaysia-with-pine-labs-partnership/", "page": 65, "title": "Singapore insurtech Igloo extends footprint in Malaysia with Pine Labs partnership", "contents": "Singapore-based insurtech firm Igloo said in a statement through the partnership, Pine Labs will offer shoppers hassle-free and easy mobile phone protection solutions under the IglooCare Program. According to the statement, Pine Labs is currently used by over 246,000 merchants in 3700 cities and towns across India and Malaysia. Mobile Phone 360 and Phone Screen Protection are currently available on Pine Labs\u2019 platform. The protection covers both repair and replacement of the gadget by up to 100 percent of the gadget retail price, offered through Igloo\u2019s dedicated nationwide IglooCare repair and service network in Malaysia. Meanwhile, as part of Igloo\u2019s plan to extend its presence in Malaysia, Igloo appointed Amitabh Singh, as its Country Manager in Malaysia. In addition, Igloo is expanding its team in Malaysia and making key hires across business development, operations, customer service and sales management. According to Amitabh, the partnership marks a significant milestone in Igloo\u2019s expansion in Malaysia. \u201cWe are happy to partner with Pine Labs to offer our best-in-class IglooCare phone protection solutions,\u201d he said. He said that Igloo aims to work with more local partners to provide protection platform solutions that are easy to purchase, affordable, and directly impact consumers\u2019 daily lives. \u201cThese lifestyle-focused solutions allow consumers to experience minimal disruption and financial loss to their daily lives \u2013 across multiple categories including electronics and durables, health benefits products, lifestyle coverage and small and medium enterprice (SME) solutions \u2013 all of which are enabled through our technology platform,\u201d he said. Meanwhile, Pine Labs Asia Pacific Payment Business Head Chayan Hazra said the company has been at the forefront of technology in the payments solutions space across India and Southeast Asia. \u201cIn Malaysia we are expanding our footprint rapidly by entering into strategic alliances with leading banks and retail brands. We are very happy to be partnering with technology platform like Igloo to enable us to expand protection offerings to our merchants. \u201cAt Pine Labs, we are always striving to get the best products and services for our merchant partners and we find Igloo provides us the best platform in terms of options and roll out flexibility,\u201d he added. Igloo, previously known as \u201cAxinan\u201d, is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, the Philippines, and Vietnam, and tech centres are located in China. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create Business to Business to Consumer (B2B2C) insurance solutions for platform companies and insurance companies. Igloo\u2019s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimize and enhance existing products and services. In April 2020, Igloo successfully closed its Series A+ funding round worth $8.2 million, bringing its total funding to $16 million from global investors. Igloo is led by a core team that comprises top talent from the technology and insurance industries hailing from global corporations including Facebook, Grab, Flipkart, Garena, Manulife, Shopee, Yahoo! and Zalora. This year, Igloo has established over 30 key partnerships in diverse industries to make protection products more accessible across the region. In July, the insurtech company partnered with regional leading food delivery platform foodpanda Singapore to launch protection solutions for gig economy workers. In September, Igloo successfully launched partnerships with leading e-Wallet platforms in the Philippines GCash and DANA in Indonesia to provide online shopping protection and phone screen protection respectively. Last month, Igloo partnered its first Digital Health brand, HD, to provide health-related micro-insurance products via the HD mall healthcare marketplace platform in Thailand. Meanwhile, Pine Labs is a merchant commerce platform that serves prominent large, mid-sized and small merchants across India and Southeast Asia. The company\u2019s unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. In April 2021, Pine Labs acquired Fave, a consumer fintech platform that provides a smart payment app to the smart generation of consumers looking to pay and save. Fave is currently operational in 35 cities across Malaysia, Singapore, and Indonesia and is also available in India. Incorporated in Singapore, Pine Labs\u2019s key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard. AirAsia partners with InsurTech startup PolicyStreet to provide digital car insurance service"}, {"url": "https://technode.global/2021/12/15/malaysia-based-spac-kairous-acquisition-starts-trading-on-nasdaq/", "page": 65, "title": "Malaysia-based SPAC Kairous Acquisition starts trading on NASDAQ", "contents": "Kairous Acquisition Corp Ltd, an Asia-focused special purpose acquisition company (SPAC) led by the founder of Malaysia-based \u201cToday\u2019s listing signifies our commitment to live by our tagline, being the cross-border partner to great founders and helping them to build exceptional & long-lasting regional/global companies,\u201d Kairous Capital said in a Linkedin Post on Wednesday. \u201cThis is just a start and we couldn\u2019t be more excited to see what\u2019s to come in the coming future. \u201d  \u201cWe think that the timing is just right as we believe that Southeast Asia is on the verge of producing many more great tech companies in years to come,\u201d the company added. Kairous Acquisition has raised $75 million by offering 7.5 million units at $10. Each unit consists of one ordinary share, one-half (1/2) of one redeemable warrant and one right. Each whole warrant entitles the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment as described in this prospectus. Every ten rights entitles the holder to receive one ordinary share upon consummation of its initial business combination, its filing dated Dec 13 showed. \u201cOur units have been approved for listing on the Nasdaq Global Market, or Nasdaq, under the symbol \u2018KACLU\u2019,\u201d the company said in the filing. \u201cOur efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the company intends to focus on opportunities in Asia (excluding China). We shall not undertake our initial business combination with any entity with its principal business operations in China (including Hong Kong and Macau),\u201d the SPAC said. The company intends to primarily focus on fast-growing technology companies in different industry verticals, including but not limited to e-commerce, financial technology, insurance technology, digital health, digital media and digital services, it added. Kairous Acquisition is led by Chief Executive Officer and Chairman Joseph Lee, the founder and Managing Partner of Kairous Capital, a regional venture firm focused on technology investments across China and Southeast Asia. Lee has more than 16 years of experience in cross-border investment across the Asia Pacific. Since 2004, Lee has been actively involved in private equity and venture capital investment. In 2006, he joined Kuwait Finance House (Malaysia) Bhd as the pioneer team in setting up their private equity division and first Islamic private equity fund in the Asia Pacific. Launched in 2015, Kairous Capital is a venture capital firm with a hybrid model as it has some private equity elements such as its involvement in the post-investment value creation of startups. The blank check company earlier said it plans to acquire businesses with enterprise values between $120 million and $300 million and revenue or net profit at an annual growth rate of at least 50 percent. Maxim Group LLC acts as the sole book-running manager and representative of the underwriters. Kairous Capital is an investor in Malaysia-based SPAC Kairous Acquisition files for a $50 million IPO on NASDAQ"}, {"url": "https://technode.global/2021/12/15/malaysia-fintech-and-e-wallet-provider-mymy-set-for-beta-testing-and-reveals-malaysian-inspired-product-innovations/", "page": 65, "title": "Malaysia fintech and e-wallet provider MyMy set for beta testing and reveals Malaysian-inspired product innovations", "contents": "MyMyBacked by demands from in-depth market studies, MyMy\u2019s frontline offerings include a numberless prepaid card that enhances the security of physical payment transactions. As for online transactions, it introduces a seamless biometric feature to authenticate transactions \u2013 an element of security that replaces risks associated with other cumbersome authentication methods. \u201cWe hear what Malaysians want and we take the rise of digital payment fraud and online scams very seriously. That\u2019s why we\u2019ve identified the necessity to implement biometric features as part of our security measures, and very soon, facial recognition capabilities as well. Our numberless card also provides enhanced security to reduce fraudsters from committing unauthorised purchases,\u201d MyMy Co-Founder Joe McGuire said in a statement. With the world slowly opening up for travel from 2022 onwards, he added that MyMy\u2019s numberless prepaid card is not only a cheaper alternative to debit and credit cards, but is also globally accepted at over 80 million merchants and automated teller machines (ATMs) worldwide \u2013 unlike QR codes which have limited use and are only accepted in Malaysia. He also said that MyMy users can further enjoy peace of mind with additional quick control abilities on its app such as lock card, pin reset, on and off control for overseas, online and contactless transactions, even allowance and limit setting for ATM withdrawals. As the brand continues to echo Bank Negara Malaysia\u2019s (BNM) vision for more efficient and secure financial systems, MyMy proceeds to innovate with technology and is expected to announce more breakthroughs in the next few months. In September 2020, the company secured a RM10 million capital injection from Koperasi Tentera (KT), and earlier this April, received conditional approval for an e-money license from BNM. Most recently in October, MyMy further emerged as one of the first Malaysian startups to welcome a principal membership from Mastercard. \u201cThe team is currently working diligently on perfecting MyMy\u2019s app and product offerings,\u201d said Kishore Samuel, MyMy Co-Founder and Chief Executive Officer. \u201cWe are also well in progress to kick-off the new year with our beta testing phase which will involve our very supportive and enthusiastic pre-registered users. We are organized for growth, and there is going to be much innovation and opportunity from MyMy moving forward,\u201d Kishore concluded. MyMy is a Malaysian-inspired e-wallet service provider aimed at becoming the country\u2019s first fintech unicorn. Daring to challenge Malaysia\u2019s financial products and services by leveraging on technology to create world-class innovations and solutions, MyMy successfully secured conditional approval for e-money license from Bank Negara Malaysia in 2021. This rising Malaysian upstart is ultimately dedicated to the delivery of beautiful financial control for empowered Malaysians that focus on high security, global accessibility and transparent pricing. ASX-listed Novatti acquires Malaysia FinTech firm ATX Group for up to $7.4M"}, {"url": "https://technode.global/2021/12/15/grab-to-acquire-malaysia-based-supermarket-chain-jaya-grocer/", "page": 65, "title": "Grab to acquire Malaysia-based supermarket chain Jaya Grocer", "contents": "Southeast Asia\u2019s ride-hailing and food delivery firmWhile Grab did not disclose the financials of the transaction in the filing, the deal is said to be worth between MYR1.5 billion ($354 million) and MYR1.8 billion ($425.42 million), local media \u201cGrab and Jaya Grocer can confirm that both companies have entered into an agreement, where Grab will purchase a partial stake in Jaya Grocer. The deal is subject to customary closing conditions, and we are unable to share more details at this stage,\u201d Grab spokesperson told Daniel Teng, the son of Jaya Grocer\u2019s founder Teng Yew Huat, did not respond to Grab said in the filing that a subsidiary of the company has on Dec 11 entered into a share purchase agreement (SPA) with the current shareholders of Jaya Grocer Holdings Sdn Bhd to acquire all of the ordinary shares of Jaya Grocer and 75 percent of the preference shares of Jaya Grocer. Jaya Grocer is a leader in the premium grocery segment in Malaysia and operates 40 stores across Peninsular Malaysia, with the majority being located in the Klang Valley near Kuala Lumpur, Grab said in the filing dated Dec 13. It is worth noting that besides operating the offline stores, Jaya Grocer also provides grocery delivery services through its website and apps. Since COVID-19, the so-called Jaya Grocer Online Hubs provides extra delivery modes, such as Store Pickup and Next Day Delivery in certain areas including Kuala Lumpur, Petaling Jaya, Penang, Johor Bahru, among others, \u201cSubject to certain terms, the Grab Holdings Ltd (GHL) subsidiary will have the option to buy, and the current shareholders will have the option to sell to the GHL subsidiary, the remaining 25 percent of the preference shares of Jaya Grocer after the closing of the transaction,\u201d the company said. For local regulatory purposes, GHL intends to partner with a local investor which will own 50 percent of the voting shares in Jaya Grocer. Closing under the SPA is subject to customary conditions and is currently expected to occur in the first quarter of 2022, the company added. \u201cFollowing closing, Jaya Grocer is expected to become a subsidiary of GHL and its financial results will be consolidated by GHL,\u201d Grab said. Grab made its debut on the Nasdaq Proceeds include more than $4 billion of fully committed private investment in public equity (PIPE) led by $750 million from funds managed by Altimeter Capital Management. It was reported last month that Jaya Grocer\u2019s founder \u2014 the Teng family \u2014 has bought back its entire stake in Jaya Grocer from Singapore-based private equity firm AIGF, however, did not disclose the details about the valuation of the deal. The sale will give the Teng family ownership of the entire shareholding of Jaya Grocer, and allow them the flexibility to implement their strategic plans for their consolidated shareholding, Grab to debut on NASDAQ after investors approve SPAC merger"}, {"url": "https://technode.global/2021/12/09/malaysian-drone-tech-firm-aerodyne-explores-dual-listing-as-it-starts-ipo-process/", "page": 65, "title": "Malaysian drone tech firm Aerodyne explores dual-listing as it starts IPO process", "contents": "Malaysia\u2019s drone tech firm \u201cWe have yet to appoint investment bank but we\u2019ve started the [IPO] process. We are also looking at dual-listing on Bursa Malaysia,\u201d Aerodyne Founder \u200b\u200band Chief Executive Officer Kamarul A Muhamed told He expects the IPO, which could take place in the US or Japan, to happen in 2023 or 2024. \u201cIPO process will take at least two to three years. We are leaving options open. We have three potential options right now. We are exploring [the option to list on] New York Stock Exchange, Tokyo Stock Exchange and NASDAQ,\u201d he said. \u201cAnd of course dual-listing on Bursa [Malaysia]. We are proud Malaysian so if we can do it in Malaysia, we would be very excited about that. \u201dMalaysia\u2019s former Science, Technology and Innovation Minister Khairy Jamaluddin said last year that the ministry aims to list Aerodyne outside Malaysia, in markets such as the US\u2019s Nasdaq. ventureTECH, which has invested in Aerodyne, is a wholly-owned subsidiary of Malaysian Industry-Government Group for High Technology (MIGHT). Aerodyne is a DT3 (Drone Tech, Data Tech, and Digital Transformation) drone-based enterprise solutions provider, using of artificial intelligence as an enabling technology for large-scale data operations, analytics, and process optimization. The firm employs over 700 drone professionals to operate in the Unmanned Aircraft Systems (UAS) services sector, having managed more than 560,000 infrastructure assets with 458,058 flight operations. It has surveyed over 380,000 km of power infrastructure across 35 countries globally. The drone tech firm currently is in the midst of raising a bridge round ahead of its Series C funding round next year, according to Kamarul. \u201cSeries C would be anything between $100 million to $200 million, next year. But now it\u2019s a smaller amount, just a bridge round. It\u2019s basically [roping in] strategic investors. We have a very long runway so we don\u2019t really need to be doing this. This bridge around is to rope in strategic investors,\u201d he said but did not disclose details of the amount expected to be raised in the bridge round. \u201cThe \u2018bridger\u2019 will to help us with the technology. But Series C is about our global expansion. This is about bringing us to the next level, scaling many of the businesses that we are working on now,\u201d he said. Kamarul declined to comment on the firm\u2019s current valuation, but earlier reports showed Aerodyne may join the unicorn club after raising its Series C. \u201cAerodyne could be reaching unicorn status upon IPO listing,\u201d he said. Aerodyne has raised an undisclosed amount in its Series B+ round in May, welcoming Japan investors including VC firm Real Tech Fund, industrial equipment supplier Kobashi Holdings, and drone and robotics tech firm ACSL as strategic partners in May this year. In October 2019, the company has also raised $30 million led by InterVest and Kejora Ventures. Aerodyne is also backed by North Summit Capital, Indorama Corp, Leave a Nest, Axiata Digital Innovation Fund, Gobi Ventures, 500 Startups, and ventureTECH, among others. The Malaysia-based company is ranked number one in the remote-sensing drone service provider rankings for the first time this year, according to drone market research firm With the acquisitions of Falcon Eye Drones from the United Arab Emirates (ranked 5th last year) and the drones services division of US Measure (narrowly missing the top 40 last year), Aerodyne has continued its strong expansion strategy, growing strongly and entering new markets around the world, the research firm said. According to Indian research firm The INSIGHT Partners, the global drone service market is expected to grow from $629.2 million in 2018 to $24.88 billion by 2027. This growth is driven by industries such as infrastructure, agriculture and logistics where labor shortage and safety concerns are prominent while reducing costs and environmental impact are top agendas, the research firm said. Commenting on Aerodyne\u2019s plans moving forward, Kamarul said the firm has expanded globally following about 15 mergers and acquisitions and organic growth over the years. \u201cWe\u2019ve already planted our flag in almost every continent except Africa. Now it\u2019s time to go deeper and scale,\u201d he said. \u201cNow it\u2019s about execution. We have already built a very solid pipeline. \u201dKamarul said Aerodyne was affected by the COVID-19 pandemic, mainly due to travel restrictions. \u201cDuring the pandemic, the one year and a quarter, we were quite badly hit. Not because of the contract, but because of the travel restriction. We have projects that we needed to execute but we couldn\u2019t travel,\u201d he said. \u201cMost of them are really just on board. We have a healthy pipeline and contracts-in hand as well. \u201dKamarul said its product for the agriculture segment, Agrimore, on-demand drone precision agriculture services, saw a 3000 percent jump in revenue. \u201cMoving forward, we have two new product line that has shown tremendous growth. One of the product lines has shown about almost 3,000 percent jump since last year, but of course it\u2019s just from the beginning. That holds very exciting potential. \u201d\u201cFor the first five years of our existence, we were already paying taxes, EBITDA positive. For a tech company, that\u2019s unusual. We were profitable from year one. Basically, we were self-funded in the beginning. We [later] shifted focus for global presence, which we focus on new tech over the past two years,\u201d he said. Aerodyne\u2019s solutions have been deployed and are currently being used by various industry leaders such as a Malaysian-based FORTUNE Global 500 oil and gas company, the largest listed power company in Southeast Asia as well as the largest port owner in the UK, ACSL said in a statement in May. Japan-based ACSL, which invested in Aerodyne, also sees the potential for the company in the agricultural market. \u201cIn Southeast Asia, plantation agriculture such as rice, palm, pineapple, etc. has become a major industry. Nevertheless, the farming methods are often labor-intensive, have a high environmental impact, and there is great potential for improving efficiency,\u201d it said in the statement. Aerodyne\u2019s Agrimor service enables data-driven precision agriculture by using drones to monitor crop health and in turn increasing productivity and harvest yield, benefiting farmers, agriculture landowners and ultimately the economy of the host country, ACSL said. The company is running demonstration projects with several of the largest farm landowners in Malaysia and plans to expand the service to India, Indonesia and Thailand after 2022. One of Aerodyne\u2019s investors, \u201cA large part of Aerodyne\u2019s current revenue is driven by the local market. However, this is expected to change drastically in the next few years as the company now have presence in more than 30 countries, including markets that are bigger than Malaysia such as the United States and Australia,\u201d Gobi Partners Managing Director (KL) Jamaludin Bujang told He said Aerodyne has strong relationships with other drone players and it has a list of investors which can help the company to raise capital and enter new markets. Aerodyne also has a team of data scientists and the team serves all the markets outside Malaysia, he noted. \u201cThey also work with other drone service providers in Malaysia through Area 57 drone-related Sandbox Program to test and develop new services,\u201d Jamaludin said. \u201cWe truly believe Aerodyne will be able to become another unicorn for Malaysia sooner, rather than later, given the progress they have achieved so far and the prospects that are waiting for them ahead,\u201d he said. ORIGIN Innovation Awards 2021: Announcing the Startup Leader of the Year winners"}, {"url": "https://technode.global/2021/12/08/navis-capital-partners-sells-its-entire-stake-in-hong-kong-tech-business-services-provider-qima/", "page": 65, "title": "Navis Capital Partners sells its entire stake in Hong Kong tech business services provider QIMA", "contents": "Navis Capital PartnersCaisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), a Canada-based global investment fund, is the new equity investor for QIMA alongside the founder, Sebastien Breteau, and his senior management team, Navis said in a statement. QIMA is a tech-enabled business services provider and was founded in Hong Kong in 2005 under the name of AsiaInspection. It changed its name to QIMA in 2019 to reflect the broader services it offered and its ambition for a global presence. Today, QIMA operates out of 88 countries offering testing, inspection, certification (TIC) and audit services in the consumer goods, food and life sciences verticals. A co-controlling 40% stake in QIMA was acquired by Navis from passive financial investors, the founder and his management team in December 2017. Over the last 4 years, QIMA has grown its revenue at a compound annual growth rate (CAGR) of 32 percent and earnings before interest, taxes, depreciation and amortization (EBITDA) at 26 percent. QIMA proved to be a highly resilient company and was able to grow EBITDA through 2020 despite the severe COVID-19 impact on global supply chains. More generally, QIMA has also successfully navigated the shifting of global supply chains from China to Southeast Asia. During Navis\u2019 tenure with QIMA, the company has accelerated its merger and acquisition (M&A) agenda and completed 8 acquisitions since 2017 with 4 more under completion at the time of writing. These acquisitions have added significantly towards QIMA\u2019s capabilities such as adding new attractive locations for lab testing in consumer goods, an additional food inspection capability in Brazil, and a life sciences testing capability in Europe. QIMA has been able to integrate these acquisitions onto its digital platform, progressively reducing operational costs and improving margins, thereby making these acquisitions highly value accretive. \u201cWe were fully convinced that QIMA\u2019s tech-enabled approach to TIC services provided a material competitive advantage versus others in the industry. This proved to be the case, and the management team has delivered on every dimension that was expected of them. QIMA will continue to disrupt the TIC industry with its new software as a service (SaaS) offering, QIMAOne, and we wish our dear friend Sebastien and his senior management team all our best wishes for the next stage of their global journey with CDPQ\u201d,\u201d said Nicholas Bloy, the Founder and Managing Partner at Navis. JP Morgan was the exclusive financial advisor to Navis Capital and QIMA on the transaction. Founded in 1998, Navis manages approximately $5 billion in private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 60 individuals, supported by 30 administrative staff, in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 85 control transactions across the Asian region completed since its establishment. Malaysia PE firm Creador eyes tech sectors after raising $500M for first close of 5th fund"}, {"url": "https://technode.global/2021/12/02/malaysia-cloud-application-platform-food-market-hub-secures-8-5m-in-series-a-round-to-boost-southeast-asia-expansion/", "page": 65, "title": "Malaysia cloud application platform Food Market Hub secures $8.5M in Series A round to boost Southeast Asia expansion", "contents": "Food Market HubThe round was brought about due to significant investor interest, arising from both Food Market Hub\u2019s rapid growth as well as an accelerated push to digitalisation in the F&B sector, thus bringing the startup\u2019s total Series A funding to date to $12.5 million. Food Market Hub said in a statement, the round was led by Southeast Asia focused venture capital firm AC Ventures Malaysia, which is backed by Malaysia\u2019s Penjana Kapital fund. The round also saw participation from returning investors Go-Ventures, SIG and 500 Global, new investors East Ventures, Velocity Ventures and Capital Code, as well as other angel investors. The funding will enable Food Market Hub to accelerate its expansion plans to Indonesia, penetrate deeper into the Malaysian market, and strengthen its presence in Singapore and Thailand by 2022. \u201cFrom our past experiences, it\u2019s clear that our platform has helped many F&B businesses to successfully reduce their food cost and wastage. We\u2019re also able to help them grow tremendously, especially during these tough times brought on by the pandemic,\u201cWe have observed significantly increased demand for the solutions we provide as more businesses realise the value of technology in enabling them to achieve greater efficiency \u2013 especially in today\u2019s ever-evolving business climate,\u201d said Anthony See, Chief Executive Officer of Food Market Hub. Established in 2017, the Food Market Hub platform automates the purchasing and inventory-tracking process, helping F&B businesses minimise wastage while managing food costs and inventory more efficiently. Using Food Market Hub, F&B restaurants can easily order from their existing and new suppliers while automatically syncing data from Point-of-Sales (POS), inventory and accounting systems for procurement decision-making on a single platform. Other integrations to third-party software are available, providing managers and owners with comprehensive data in real-time to manage their business efficiently. As businesses have been forced to digitise to overcome challenges brought on by the COVID-19 pandemic, Food Market Hub has experienced exponential growth since early 2020, doubling its active users to 5,000 with an overall retention rate of 87 per cent. Its annualised total order value has also grown more than 4 times in the past 12 months to $600 million in October 2021. Its customers are also highly engaged, with the vast majority use the platform every other day to process 90% of all purchase transactions. The company also boasts diverse customers, including caf\u00e9 chains such as The Coffee Academics, large restaurant groups Putien and Din Tai Fung, and Yum Brands, which runs the KFC and Pizza Hut franchises. Food Market Hub has also recently expanded its offerings by launching its payments service in Malaysia, enabling F&B businesses to send invoices and collect payments seamlessly within the platform. \u201cOur mission is to support early-stage digital disruptors that will create value through their technological innovations, especially within the ASEAN region. Food Market Hub\u2019s track record in Hong Kong, Singapore, Malaysia, and Taiwan has demonstrated strong potential to accelerate the transformation of F&B businesses. We look forward to their continued growth across the region and beyond,\u201d said Ng Yi Chung, Partner at AC Ventures Malaysia. This year, Food Market Hub was one of three winners of the HLB Launchpad 2020 to collaborate with Hong Leong Bank on a pilot project and recently signed a Memorandum of Understanding (MoU) with Saladplate, an F&B and hospitality marketplace, to help local businesses digitally source F&B items. It also partnered with the Malaysia Digital Economy Corporation (MDEC) in the virtual Go-eCommerce Expo 2021 to encourage local businesses to adopt eCommerce. This also marks the beginning of a partnership with Southeast Asia\u2019s first Hospitality and Travel tech investor, Velocity Ventures to deepen Food Market Hub\u2019s F&B industry foothold and expand into new markets quickly. Beyond Malaysia, FMH already has a footprint in other Asian markets such as Hong Kong, Taiwan, Thailand and Singapore. With their recent expansion into Indonesia, the company now boasts a presence in six countries. The company aims to continue supporting the digitalisation of Southeast Asian businesses with deeper coverage of the region and an eye to enter new markets such as Vietnam. Over the next year, Food Market Hub plans to provide financing tools to support the recovery of regional F&B businesses. Malaysia EdTech firm ReSkills EdTech raises $1.5M funding for Southeast Asia expansion"}, {"url": "https://technode.global/2021/12/02/malaysias-george-kent-inks-mou-with-mdec-to-promote-growth-of-malaysias-tech-ecosystem/", "page": 65, "title": "Malaysia\u2019s George Kent inks MOU with MDEC to promote growth of Malaysia\u2019s tech ecosystem", "contents": "Malaysian construction engineering firm Under the terms of the MoU, both parties will jointly promote initiatives that will benefit and drive growth of the tech ecosystem in the country, George Kent said in a statement. This collaboration between George Kent and MDEC is a mutually beneficial public-private partnership that enables the government to accelerate the growth of the country\u2019s tech ecosystem while at the same time assisting private sector businesses like George Kent to access new growth opportunities. According to the statement, George Kent will set up an investment arm providing the necessary funding and resources including financial, expertise, mentorship and market access opportunities for local and regional tech companies. This is aimed to facilitate tech start-ups and smaller companies with financial support and the necessary leadership and market access to commercialize their businesses and upsize, it said. Meanwhile, MDEC\u2019s support comes in the sourcing of deal flows for George Kent including facilitating the introduction of venture capital and investors to George Kent for co-investment opportunities. MDEC will also provide assistance in the form of valuation, mentoring and market access opportunities to the investee companies in the collaboration. \u201cGeorge Kent is delighted to collaborate with MDEC who is entrusted by the Government to propel Malaysia\u2019s digital economy forward. MDEC and George Kent share common goals to promote and facilitate digital transformation, talent nurturing and the development of the digital technology industry,\u201cFurthermore, this collaboration with MDEC is in line with the group\u2019s strategic plan of investing in new growth areas for the group,\u201d said Tan Kay Hock, Chairman of George Kent. He also said George Kent\u2019s investment arm will serve as an innovative platform for the group to gain access to new and emerging technologies as part of its investment objective to seek strategic benefits for the group in addition to long-term financial returns. \u201cThe Covid-19 pandemic had resulted in the acceleration of digital technology transformation across industries. Automation and advanced-manufacturing technologies had gained rapid momentum where businesses had transformed their operations in all aspects from production efficiency to product customisation. I believe that our joint cooperation with MDEC is both a mutually beneficial and synergistic affiliation,\u201d he added. Meanwhile, MDEC Chief Executive Officer Mahadhir Aziz said Malaysia recognises the importance of digital technology and its role as the new economic growth engine. \u201cGeorge Kent possesses the resources and experience that MDEC looks for in our joint collaboration initiatives to drive growth of the country\u2019s tech ecosystem. I am optimistic that this team up with George Kent will create new business opportunities and open up development for our digital tech community,\u201d he said. George Kent is an engineering and metering company in the water infrastructure, rail transportation and hospital construction industries in Malaysia. The company specialises in the turnkey construction of water infrastructure and hospital projects, system works for rail transportation, and operation and maintenance of water treatment facilities. Established in 1996 as a lead agency under the Ministry of Communications and Multimedia Malaysia to implement the MSC Malaysia initiative, MDEC aims to accelerate Malaysia\u2019s digital economy growth, enabling digitally-powered businesses, drive digital talent development and digital investment. MDEC launches Global Technology Grant to nurture global tech champions"}, {"url": "https://technode.global/2021/11/30/malaysias-sunway-university-partners-carsome-to-set-up-data-innovation-lab/", "page": 66, "title": "Malaysia\u2019s Sunway University partners Carsome to set up data innovation lab", "contents": "Malaysia\u2019s To be launched by the end of January 2022, the data innovation lab aims to revolutionise Southeast Asia\u2019s used car industry through data, and power the future of mobility by creating value in multiple areas including customer empowerment, sustainability, and cybersecurity, said both parties in a statement on Tuesday. According to the statement, the data innovation lab involves a multi-disciplinary research consortium that consists of the Sunway University Business School, School of Engineering and Technology, School of Mathematical Sciences and the stakeholders of Carsome. The statement also noted, Sunway University is the first to collaborate with Carsome on data innovation which will see various initiatives take place including collaborations involving student coursework, student hackathons and contract research and consultancy. Carsome Co-Founder and Group Chief Executive Officer Eric Cheng said, data is key in today\u2019s fast-paced world, and it will shape the future to come. \u201cAs a data driven company, Carsome always wants to push social mobility through empowerment and education. We look forward to this industry-academic collaboration with Sunway University to accelerate the revolution of the region\u2019s used car industry through capacity-building in data science and machine learning,\u201d he added. Meanwhile, Sunway Education Group Chief Executive Officer Elizabeth Lee said the collaboration will allow the university\u2019s students the opportunity to work on real-world solutions in one of the most exciting growth industries in the region as well as learning from Carsome\u2019s data team. Sunway Berhad Chief Innovation officer and Director of Sunway iLabs Matt van Leeuwen also said collaborative efforts between start-ups and academia will prepare the youth for Malaysia\u2019s digital economy as well as accelerate innovation which will drive the nation\u2019s economic sustainability. Prior to the launch of the data innovation lab, Sunway University and Carsome will co-host a hackathon where teams of Sunway University students will work hackathon-style on a used car database and price prediction system for one of Carsome\u2019s key markets. The students will be mentored and assessed by members of the Carsome\u2019s data team. As a result of the hackathon, a predictive model will be built with consideration of data points such as car model, variant, manufactured year, colour, mileage and historical transactions. Carsome is Southeast Asia\u2019s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand and Singapore, Carsome aims to digitize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. Carsome currently has more than 2,000 employees across all its offices. Sunway University is one of Malaysia\u2019s private universities which is governed by the Jeffrey Cheah Foundation. The not-for-profit institution is dedicated to quality education, supports enterprise, and undertakes research focused on key global problems. Malaysia\u2019s Sunway Group and Indonesia\u2019s Kejora Capital launch $25M fund to support early-stage Malaysian startups"}, {"url": "https://technode.global/2021/11/29/building-resilience-how-does-innovation-empower-malaysian-businesses-to-boost-the-economy-beyond-virtual-panel-2/", "page": 66, "title": "Building Resilience: How Does Innovation Empower Malaysian Businesses to Boost the Economy? [BEYOND Virtual Panel]", "contents": "Malaysia is expected to end 2021 with a 4.5 percent GDP growth even with the new COVID-19 surges in the country. Is this the proof of Malaysia\u2019s resilience and success at innovating? How is Malaysia adjusting to the lingering effects of the pandemic? What is innovation\u2019s role in the goal of boosting the country\u2019s economy to weather the challenges of the new world?The panel members for this Beyond Virtual session were the following:The discussions in this panel focused on how Malaysian businesses are innovating and finding new ways not only to survive the pandemic but also to become more enduring as they continue to battle the coronavirus threat and anticipate other serious problems that can trample the Malaysian economy once more. The panel had experts from different industries who shared their experiences and insights in surviving in the context of the pandemic. They agreed that Malaysia has been innovating but the country needs to exert more effort to keep up with the world\u2019s innovation leaders. Here\u2019s a list of highlights from the panel exchanges:Watch the panels across the week hereTo access all our BEYOND Virtual prime content, register a BEYOND Expo on-site event will be held on December 2 to 4, 2021 at the Venetian Macao Convention and Exhibition Centre. See you there!"}, {"url": "https://technode.global/2021/11/22/malaysias-mavcap-launches-two-new-tech-focused-venture-capital-funds-targets-total-fund-size-of-38-26m/", "page": 66, "title": "Malaysia\u2019s MAVCAP launches two new tech-focused venture capital funds, targets total fund size of $35.83M", "contents": "Malaysia\u2019s venture capital firm The two VC Funds will provide equity funding to startups with strong growth potential in Malaysia and other Southeast Asian markets, focusing on verticals such as Artificial Intelligence, Fintech, Healthtech, Greentech, Industrialtech, Internet of Things and EdTech, MAVCAP said in a statement. \u201cIn line with our mandate to spearhead the development of Malaysia\u2019s VC ecosystem, the new VC Funds will further strengthen MAVCAP\u2019s aspiration to help local startups grow their businesses and excel, with a view towards becoming tech unicorns and tapping into regional growth opportunities,\u201cIn addition to increasing the pool of capital available for startups, both local and regional, to scale up their businesses, our new VC Funds also provide opportunities to draw upon our broad global network together with the new fund managers, as we strive to cultivate regional and global champions,\u201d said MAVCAP\u2019s Chief Executive Officer Shahril Anas Hasan Aziz. Orbit Malaysia Fund I will be managed by Jakarta-based Kejora Capital, with Sunway Group and MAVCAP as anchor investors. This marks the second collaboration between MAVCAP and Sunway Group, following the Malaysia SuperSeed Fund II in 2019. Orbit Malaysia Fund I Director Raymond Hor said that this public-private collaboration between MAVCAP, Sunway Group and Kejora Capital will amplify their shared goal to champion the growth of local startups, leveraging the fast-growing development of the tech space in the region. Meanwhile, the Ficus SEA Fund is investing in highly promising local startups in Logistictech and Greentech, and is considering other potential areas including Islamic Fintech, Augmented Reality, and environmental, social and governance (ESG) solutions. The fund is also unique as the first of its kind in the region with Shariah-compliant investment structuring. \u201cMAVCAP is one of Malaysia\u2019s most established VC firms, so we are pleased to partner with them. With our investment focused on robust growth sectors, we foresee positive returns for investors in the years to come, particularly in the post-pandemic environment as the world forges ahead towards recovery. To further spur Malaysia\u2019s immense entrepreneurial talent, we look forward to providing guidance along with investments for promising startups to capture new opportunities and flourish,\u201d said Asyrul Ramali, Chief Executive Officer of Ficus Group Capital. The two new VC Funds are the latest additions to MAVCAP\u2019s 14 VC Funds at various investment stages, from Seed to Series C, such as 500 Durians, Axiata Digital Innovation Fund, Asia Greentech Fund, and Meranti Asean Growth Fund. From these billion-ringgit-sized assets under management, 10 tech unicorns have emerged, including Malaysia\u2019s very first, Carsome, a technology-disruptive trading platform for the regional automotive industry while other startups coming from the Funds are also transforming the normal brick-and-mortar business landscape. \u201cBacked by MAVCAP\u2019s farsighted leadership and continuous funding model against the backdrop of Malaysia\u2019s vibrant startup ecosystem and committed stakeholders, prospects are encouraging for Malaysian startups with huge potential to evolve into future Southeast Asian tech unicorns in the next few years, and MAVCAP\u2019s two new VC Funds aim to accelerate the development of the ecosystem,\u201d said MAVCAP. Established in 2001 on the Malaysian government\u2019s policy to accelerate the technology ecosystem and provide funding to the unbankable market, MAVCAP has since evolved and transformed its operations to ensure continuous development and value creation of the VC ecosystem in Malaysia. Malaysia\u2019s Sunway Group and Indonesia\u2019s Kejora Capital launch $25M fund to support early-stage Malaysian startups"}, {"url": "https://technode.global/2021/11/17/malaysia-edtech-firm-reskills-edtech-raises-1-5m-funding-for-southeast-asia-expansion/", "page": 66, "title": "Malaysia EdTech firm ReSkills EdTech raises $1.5M funding for Southeast Asia expansion", "contents": "Malaysia EdTech startup \u201cWe firmly believe that education is a basic human right and should be accessible and affordable for everyone. These funds are a testament from the investment community that ReSkills can achieve that mission. With this Covid pandemic, online learning trend had matured into a new dimension as well,\u201d ReSkills EdTech Chief Executive Officer Jin Tan said in a statement. ReSkills runs collaborations with governments, corporations, universities, colleges, and schools, as well as associations and training providers. Within a year of operations, the platform has empowered over 100,000 registered learners by reskilling and upskilling them \u2014 boosting professional and personal growth, career enhancement, and business entrepreneurship learning despite the world being in a state of pandemic crisis. \u201cWe closed the angel round funding deal in October and with it, we hope to enhance and further develop our platform. We will also focus on marketing efforts in terms of user acquisition and recruitment of coaches,\u201d Tan said. Since its establishment, ReSkills has grown from a handful of coaches to 169 from Malaysia, Indonesia, Singapore, the Philippines, Thailand, Vietnam, and India. The firm has delivered 300 OnLive classes and transacted more than a thousand learning hours in five languages. \u201cThere will certainly be geographical growth as we look to take on more coaches under our wing. Having said that, we also aim to reach out to one hundred million learners by 2025. Further fuelled by current developments, ReSkills looks forward to growing its partnership for entities that look to find synergy in shaping a better online microlearning landscape,\u201d he added. ReSkills is also eyeing growth in the ReSkills Hubs\u2019 global operations. It was first established in Indonesia in August 2021 followed by the Philippines (September), Thailand and Vietnam (November), and India which will be established in December. \u201cOur goal is to make online learning highly interactive and led by experts. Learners can gain much more at a lower cost for 365-day subscription access to unlimited learning contents in the platform,\u201d Tan said. Setting itself apart from other EdTech platforms, ReSkills takes pride in its unique position of providing expert coaches who unanimously agree that learning is an interactive, two-way process where learners should be able to question, seek clarification from, and challenge the instructor. Learning conveniently and efficiently from anywhere anytime is here to stay for the long term. \u201cOur coaches are carefully handpicked and selected, and learners are assured that only industry leaders and experts become ReSkills coaches. We want our learners to have significant and actionable takeaways from each session so they can use them to improve their lives immediately besides gaining the necessary micro-credentials from ReSkills,\u201cMost importantly, we hold strong to our tagline \u2018Don\u2019t guess\u2019 and we want our learners to know that the fastest way to fail at learning is by assuming. Having interactive sessions enables learners to fill in gaps, not assume, and question the coaches on their understanding and experience. Above all, learners get to gain knowledge at their convenience,\u201d Tan said. ReSkills is an EdTech company with a 30 working team based in headquarter and 8 working team based at other ReSkills Global Hub focusing on education-based services in Southeast Asia which targets the youths from 15 to young adults aged 35. It is a live-learning platform that allows coaches to build online courses on their preferred topics. ReSkills also connects aspiring learners to Master Coaches via interactive, real-time online classes. There are numerous ReSkills OnLive courses offered across a breadth of 3 main categories namely; Self Improvement, Career Enhancement, and Business Entrepreneurship. ReSkills OnLive is backed by ReSkills OnTheGo, ReSkills OnDemand, and ReSkills Library. Malaysia\u2019s gig employment portal MakeTimePay secures \u201csignificant\u201d funding from entrepreneur Simon Landsheer"}, {"url": "https://technode.global/2021/11/17/malaysias-sunway-group-and-indonesias-kejora-capital-launch-25m-fund-to-support-malaysian-early-stage-startups/", "page": 66, "title": "Malaysia\u2019s Sunway Group and Indonesia\u2019s Kejora Capital launch $25M fund to support early-stage Malaysian startups", "contents": "Malaysia\u2019s This is the first time a Malaysian conglomerate in partnership with a venture capital firm from Indonesia to form a fund with Malaysia Venture Capital Management Berhad (MAVCAP) as anchor investor. In a joint statement on Wednesday, both parties said Orbit Malaysia will actively invest in Series A, industry-leading companies operating in the FinTech, AgriTech, eCommerce, EdTech and HealthTech sectors, and will invest not only in Malaysian startups, but also significantly in other high-growth Southeast Asian startups. These companies will be able to tap into Sunway\u2019s various business divisions ranging from property, healthcare, education, retail, and digital as well as Kejora\u2019s digital ecosystem, they said. There is also a strategic angle of \u201cJakarta Express\u201d to help Malaysian startups and investors capitalise on the high growth Indonesia market via Kejora. According to the statement, Orbit Malaysia will be led by Raymond Hor who will be overseeing the fund as Fund Director. In his role, Hor will leverage on the vast network of seasoned business leaders and multi-sector industry experts from Sunway and Kejora Capital to help early-stage Malaysian and Southeast Asian companies expand their market base through regional expansion. \u201cMalaysia is home to a fast-growing and vibrant startup ecosystem, and there is great potential for Malaysian companies to become Southeast Asia\u2019s next unicorn. With a proven track record in the region and combined cross-border ecosystem, we are confident of replicating our success to empower Malaysian companies to scale rapidly throughout Southeast Asia and beyond,\u201d said Hor, Orbit Malaysia Fund Director. Cited Statista, the statement said private equity and venture capital firms invested more than $5.9 billion in Malaysian startups between 2014 and 2020. A young, digitally savvy population, coupled with growing adoption of technology, are seen as key drivers of the digital economy in the country, which in turn has prompted investors to eye potential growth opportunities within different industries. \u201cOrbit Malaysia is an alliance set up in the spirit of collaboration to leverage on the combined resources not just to help startups, but also as a platform for more private corporations to participate in venture capital investment. We look forward to working together with more corporates to enrich Malaysia\u2019s funding ecosystem,\u201d said Hor. Meanwhile, Kejora Capital Managing Partner Andy Zain said, with Orbit Malaysia, the firm is excited to continue investing in Southeast Asia\u2019s best startups and to help boost Malaysia\u2019s ecosystem by providing companies with added value beyond just capital. \u201c2021 marks Kejora Capital\u2019s 8th anniversary, and as we embark on our next stage of growth, we remain committed to helping companies become dominant market players and equipping them with the necessary tools to fast-track their market entry regionally,\u201d he said. Sunway Group Chief Innovation Office Matthijs (Matt) van Leeuwen said Orbit Malaysia is an extension of Sunway\u2019s unique innovation ecosystem and startup funding funnel. \u201cWe share the same mission as Kejora Capital to invest in category leading startups, and at the same time create real social and sustainable impact. Kejora has shown strong track records in their various funds as well as contribution to social impact. With the backing from our anchored limited partner, MAVCAP, Sunway and Kejora can definitely replicate such performance here in Malaysia,\u201d he added. MAVCAP Chief Executive Officer Shahril Anas Hasan Aziz also said, Malaysia\u2019s startup ecosystem is on the rise and through Orbit Malaysia, a public-private partnership, he hopes that they can strengthen the country\u2019s entrepreneurial excellence, make a difference in the local startup ecosystem, and provide a regional and global platform to showcase their innovation and technological advancement. \u201cMAVCAP will continue to work together with the private sector, locally and internationally, to support national aspiration on innovation and spurring the digital economy,\u201d he added. According to the statement, Kejora Capital has over $600 million in assets under management (AUM) with 38 portfolios across eight years of existence, birthing four unicorn exits. Alongside Orbit Malaysia\u2019s current active investments, Kejora Capital has previously invested in a large portfolio of startups in Southeast Asia across a range of industries. These include Indonesian FinTech lender, Kredivo; Malaysia-based drone-based solutions provider Aerodyne Group; Indonesian delivery startup Sicepat Express. Meanwhile, Sunway Group, through its various funds and accelerator programs designed for different purposes, such as Sunway iLabs Super Accelerator, Sunway Ventures and Sun Sea Capital, has invested in early-stage startups such as Jomrun, Red Dino, Ento, CozyHomes, Quadby, Wise AI to growth-stage startups like regional eCommerce enabler Intrepid and The Lorry. In addition, Sunway\u2019s venture building portfolio includes companies like Sunway XFarms, 42KL coding school, Sunway Research and Development, PopBox, and Sunway Pharmacy. \u201cAs the leading venture capital firm in Southeast Asia, we maintain collaborative relationships with government and some of the region\u2019s largest family offices and corporations. Both MAVCAP and Sunway Group have shown consistent support to the Malaysian startup ecosystem in the past. Leveraging on this network, we are confident that Orbit Malaysia can provide Malaysian companies with the opportunity to cultivate partnerships, and unlock cross-border collaborative opportunities to succeed,\u201d said Zain. Malaysia\u2019s VentureTECH and Japan\u2019s SBI Ventures launch $18M private equity fund to boost Malaysian growth-stage technology firms"}, {"url": "https://technode.global/2021/11/11/malaysias-penjana-kapital-partners-indonesias-ac-ventures-to-pave-way-for-malaysian-start-ups-to-access-1t-indonesian-market/", "page": 66, "title": "Malaysia\u2019s Penjana Kapital partners Indonesia\u2019s AC Ventures to pave way for Malaysian start-ups to access $1T Indonesian market", "contents": "Malaysian government-backed Penjana Kapital said in a statement that AC Ventures is one of the eight venture capital fund managers selected as part of the Dana Penjana Nasional, a program that is administered by Penjana Kapital. According to the statement, AC Ventures has partnered with Translink Capital and Vertex Force to invest in Dana Penjana Nasional\u2019s Southeast Asia (SEA) Frontier Fund focused on funding promising Malaysian start-ups to, among others, expand into Indonesia and form partnerships within the regional technology ecosystem. With nearly 100 companies in its portfolio, AC Ventures has backed the likes of Carsome, Xendit, Stockbit, Eden Farm, Ula, and many other unicorns. \u201cWe are pleased with AC Ventures\u2019 decision to partner up with Penjana Kapital and invest in the Malaysian start-up space. These funds are crucial to spur our start-up ecosystem, by encouraging innovation and equipping Malaysian innovators with the necessary resources to scale and succeed, particularly in Indonesia, the largest consumer market in Southeast Asia,\u201d said Malaysia Finance Minister Tengku Zafrul Abdul Aziz who witnessed the partnership signing ceremony. \u201cBy tapping on the power of AC Ventures\u2019 local knowledge and network, Malaysia\u2019s start-ups stand a higher chance of go-to-market success in a $1 trillion economy,\u201d he added. According to the statement, through AC Ventures\u2019 investment, the SEA Frontier Fund will double down on its strategy of identifying and funding start-ups with the potential for cross-border regional expansion. The SEA Frontier Fund has also attracted commitments from strategic foreign investors including a global conglomerate from South Korea. The SEA Frontier Fund, whose current fund size is 200 million MYR ($Meanwhile, Penjana Kapital said, it sees opportunities for Malaysian start-ups in a few identified sectors under \u201cMaking Indonesia 4.0\u201d such as automotive, agriculture, and food, as well as healthcare. According to the statement, Dana Penjana Nasional has, thus far, raised a total commitment of MYR995.4 million (US$239.05 million) for its eight funds as of October 2021. Of the total, MYR562.7 million ($135.13) came from foreign and private local investors. Penjana Kapital also said that it has approved 30 investments valued at RM267.2 million ($64.17 million), and two of them have recently attained \u201cunicorn\u201d status. Penjana Kapital was incorporated by Malaysian government in 2020 as part of its initiative to catalyze the development of innovative start-up companies. It aims to accelerate Malaysia\u2019s economic recovery by attracting funding from international and local investors to facilitate the growth of start-ups in the local venture capital space and enhancing Malaysia\u2019s value proposition as a hub for innovative companies to launch their business, scale-up and internationalize. Malaysian government entities MaGIC & Penjana Kapital collaborate to offer seed stage startups better funding access"}, {"url": "https://technode.global/2021/11/10/malaysia-launches-new-technology-commercialisation-agency-mranti-merging-tech-focused-agencies-tpm-magic/", "page": 66, "title": "Malaysia launches new technology commercialization agency MRANTI, merging tech-focused agencies TPM & MaGIC", "contents": "The Ministry of Science, Technology and Innovation (MOSTI) of Malaysia has announced the formation of MRANTI is expected to operate next year in line with the country\u2019s technology commercialization catalyst agenda through the Technology Commercialization Accelerator in driving Malaysia\u2019s economic growth through science, technology and innovation (STI-E), according to a statement. Science, Technology and Innovation Minister Dr. Adham Baba said the main mission of MRANTI is to facilitate the process of generating ideas to the generation of impact through the creation, development, and commercialization of technology and innovation. \u201cMRANTI was established as a technology and innovation launch platform to help enterprises, researchers, and inventors to maximize the return of ideas at a faster rate, by optimizing synergies,\u201d he added. Besides offering capacity-building programs and assistance to penetrate the market, MRANTI will also offer prototype facilities and live test fields as well as other infrastructure facilities and services to researchers and innovators. The announcement also comes as Malaysia aims to create more tech startups, unicorns and accelerate M towards becoming an innovation-driven economy. MOSTI announced in October that it is developing a Startup Development Roadmap with the target of creating 5,000 companies including five unicorn startups by 2025. The ministry would also set up a comprehensive platform known as MyStartup by the end of the year to boost the development of startups in Malaysia. \u201cThis can be achieved through an ecosystem that connects various agencies and relevant ministries in aspects such as funding, training, and guidance,\u201d Dr. Adham said then. He also cited the success story of the used car platform Both companies received funding from Malaysia Venture Capital Management and government-linked agencies, besides venture capital firms. Malaysia\u2019s VentureTECH and Japan\u2019s SBI Ventures launch $18M private equity fund to boost Malaysian growth-stage technology firms"}, {"url": "https://technode.global/2021/11/09/malaysias-gig-employment-portal-maketimepay-secures-significant-funding-from-entrepreneur-simon-landsheer/", "page": 66, "title": "Malaysia\u2019s gig employment portal MakeTimePay secures \u201csignificant\u201d funding from entrepreneur Simon Landsheer", "contents": "MakeTimePayMakeTimePay who did not disclose the funding amount said the investment is \u201csignificant\u201d. The new funding will be used to grow the company\u2019s team, expand its platform capabilities and make investments in customer acquisition, the company said in a statement. \u201cThere is a huge shift underway in how businesses are using talent, and MakeTimePay is leading this change by providing flexible work arrangements for both companies and individuals,\u201d said Landsheer. Because of Covid-19 and the fourth industrial revolution (4IR), he said, an unprecedented number of Malaysians are now forced to seek extra cash to be able to get by. \u201cRight now, the easiest way for anyone to earn extra cash is to be a gig worker delivering food or packages, or driving rideshare. But this means that a large number of qualified and professionally-skilled people engaged in this work are underemployed. \u201cThey are forced into earning less per hour of work than they should be, and that is because they simply cannot connect to the many income-generating opportunities that exist out there. MakeTimePay provides that connection and helps anyone interested in monetising their free time,\u201d he said. MakeTimePay is a gig employment portal that offers work options to individuals and companies from all industries, providing gig work opportunities to people of all skillsets and from all ranks. Launched earlier this year, the portal already has over 121,000 income possibilities listed. \u201cThis means that anyone looking for additional income can find some work of interest and value without having to waste precious time visiting an array of sites, \u201d said Landsheer. \u201cMakeTimePay democratizes work opportunities and gives everyone a chance to make some money according to their proper capabilities and worth. That is what drew me to this venture. They are solving a problem that will not disappear with the end of Covid measures and restrictions. Gig work for all skills and ranks is the future of work,\u201d he added. According to him, researchers out of the United States have already forecasted that by 2025, at least half of the American workforce will be employed on a gig basis. He, who has been based in Malaysia for over 11 years now, said that he believed that the future of work was gig employment and that the employer preference for offering and the employee preference for requesting short term contracts would spread across Asia very rapidly. Meanwhile, MakeTimePay Co-Founder Shahryn Azmi said that securing external funding is a normal part of a fast growing a start-up. \u201cOn our journey, we have really met a lot of potential investors but Simon was quick to fully understand the potential for the business and was totally aligned with our mission. Our fit with Simon and his ability to contribute is really extraordinary. We are extremely fortunate that he has made this decision to come onboard,\u201d he said. MakeTime Pay is a web and mobile app-based \u201con-demand work\u201d ecosystem set up with the specific objective of empowering people directly affected by the pandemic as well as by the upcoming IR4.0 revolution. It offers a set of innovative features that will help its subscribers, both seekers and posters, to find on-demand tasks and opportunities that are well matched to their skills, their interests and their free time. Impiro is a Singapore based investment firm focusing primarily on pre-seed and seed round opportunities across the tech sector in Southeast Asia, the surrounding region and beyond.5 HRTech trends that are game changers for small businesses"}, {"url": "https://technode.global/2021/11/08/scaleup-malaysia-announces-its-top-20-companies-for-its-3rd-cohort/", "page": 66, "title": "ScaleUp Malaysia announces its Top 20 Companies for its 3rd Cohort", "contents": "Growth stage accelerator, ScaleUp Malaysia announced Monday the selection of the Top 20 Companies for Cohort 3 which it announced in August. ScaleUp Malaysia said the team has evaluated over 200 applications not just from Malaysia but also startups from as far as the United States, Indonesia, Singapore, Japan, and Egypt. \u201cWe selected these companies based on their ability to develop solutions for the new normal and the Founders\u2019 capabilities to execute their business plans during the pandemic,\u201d said Andre Sequerah, Managing Partner of ScaleUp Malaysia. According to the statement, the companies selected hail from a diverse group of industries and verticals such as Edutech, Fintech, Media, Manufacturing, Cyber Security, FoodTech, and e-commerce. \u201cBeing at the most significant stage of growth, it is vital for them to have the right level of support in building sustainable, scalable businesses and having a clear roadmap to grow beyond our shores. This has been the aspiration for all of us for the Cohort 3 participants,\u201d Sequerah added. Meanwhile, joining ScaleUp Malaysia for Cohort 3 are two international Venture Capital firms: Quest Ventures and Indelible Ventures. The 20 selected companies will each be on separate tracks and will work closely with each venture capital firm. For Singapore-based regional firm Quest Ventures, which counts 2 sovereign wealth funds as investors, this will be the second year of its partnership with ScaleUp Malaysia. It has already invested in 10 Malaysia companies and will further invest in ScaleUp Malaysia Cohort 3 demonstrating its commitment and belief in the Malaysian market. Quest Ventures has selected 15 Companies to be a part of their track. \u201cMalaysian founders are plucky and have never been short of financial investment options. Their perennial challenge remains to find financial investors with established go-to-market networks outside of Malaysia. Those business introductions will provide product validation and pricing models that will unlock the potential of the Scaleup companies, and guide the companies in the following stages of venture funding. Our experience with Malaysian founders and companies has been rewarding\u2013they have unappreciated potential that can be unleashed to the Southeast Asia region with the right support,\u201d said Jeffrey Seah, Partner of Quest Ventures. The companies selected for the Quest Ventures track are: Jazro Tech, MADCash, Traitily, GuruInovatif, SpareXHub, Nanka, Vireserve, Open Academy, Hav. , PantangPlus, J8 Autism, Graze Market, WeGo, Wa Sushi, and Biztech. Asia. Indelible Ventures, a US-based fund with a \u201cThese companies have shown that they can build potentially world-class products and are at an inflection point. I look forward to working with them to put Malaysian-based scaleups on the radar regionally and globally,\u201d said Kevin Brockland, Managing Partner of Indelible Ventures. The companies selected for the Indelible Ventures track are: Midwest Composites, Howuku, Q3 Payments, GoCloud, and Neptrix. The Top 20 selected companies will undergo an intensive 4-month process that will aim to help identify and address gaps in their business models and strategies. Working closely with Quest Ventures and Indelible Ventures, the ScaleUp Malaysia team will work on elements such as The ScaleUp Playbook, Building Scalable Products, Financial Modeling, Crafting Narratives, Go To Market strategies, and more through group-based training and 1-1 coaching sessions. In January 2022, 10 companies will receive offers for an investment of 250,000 MYR ($60,100) to continue their growth journey with ScaleUp Malaysia, Quest Ventures, and Indelible Ventures. ScaleUp Malaysia\u2019s Top 20 Companies for Cohort 3 include:Singapore-based Accelerating Asia announces fifth cohort with nine startups"}, {"url": "https://technode.global/2021/11/05/taiwans-alp-to-invest-1b-to-develop-smart-warehousing-parks-in-malaysia/", "page": 66, "title": "Taiwan\u2019s ALP to invest $1B to develop smart warehousing parks in Malaysia", "contents": "Taiwan\u2019s largest warehousing infrastructure developer ALP said in a statement that its plans in Malaysia are already underway with the development of its $180 million 27-acre logistics park with a smart warehousing facility called OMega, in Bukit Raja, Selangor, the first of its kind in the country. ALP Co-Founder and Chief Executive Officer Charlie Chang said, Malaysia\u2019s supply chain industry represents vast opportunities that are yet untapped, and the large-scale investments and a sharing economy business model will see the industry experience a boom. \u201cThe Malaysian market offers tremendous potential, and we are confident that our investment here will attract more regional players and other high-value investments to drive Malaysia\u2019s aspirations towards becoming a regional e-commerce hub. ALP\u2019s OMega introduces collaborative operating models to unveil new economic opportunities and spur growth for the industry while empowering local brands in their digital transformation journey to reach new markets and unlock wealth,\u201d Chang added. According to the statement, Malaysia continues to remain an attractive market for e-commerce with its gross merchandise value (GMV) projected to rise to $30 billion by 2025. Its E-commerce income also grew 23.3 percent year-on-year to 267.6 MYR million in the second quarter of 2021, driven mainly by the manufacturing and services sectors. Meanwhile, the economic spillover from the OMega facility will see the creation of new growth drivers for the nation while supporting Malaysia\u2019s Logistics 4.0 goals. ALP Malaysia Managing Director Keren Liu said that the smart warehousing model that ALP is introducing in Malaysia will provide greater momentum for Malaysian businesses to be part of the global supply chain. \u201cALP\u2019s investment will help to create more job opportunities in Malaysia. With automation at the core of ALP\u2019s offerings, we aim to enrich Malaysia\u2019s warehousing infrastructure and advance convergence with global supply chains; this, in turn, will support Malaysia\u2019s Logistics 4.0 ambition and strengthen its position as the preferred warehousing gateway in Asia,\u201d she said. ALP Bukit Raja OMega construction, which is expected to be completed in the first quarter of 2024, will be part of ALP\u2019s regional chain of warehousing facility networks and will capture the attention of multinational investors and brands looking to establish their regional distribution centers in Malaysia. Strategically located, OMega smart warehouses across Malaysia among others in the pipeline are expected to generate an estimated 3,000 job opportunities. OMega is a multi-story, technology-integrated warehousing platform with hyper-automation built-in. It is designed to help not only Malaysian but also multinational brands and retailers achieve improvements in efficiency and greater accuracy in decision-making in response to the high volatility of e-commerce and vigorous development of digitalization. Strategically located in the Bukit Raja Industrial Park, OMega will serve as a hub for distribution along the west coast of Malaysia with its immediate accessibility via the North Klang Valley Expressway (NKVE), the New North Klang Straits Bypass (NNKSB), and the West Coast Expressway (WCE). Its proximity to the central business district of Kuala Lumpur and Port Klang, the principal port in Selangor, makes it an ideal destination for manufacturing and warehousing, especially for local and multinational brands. The facility will feature 1.2 million square feet (111,484 sqm) in leasable area with additional 100,000 pallets in the co-sharing automated storage and retrieval system (AS/RS) zone with a total of 150 loading docks. The sheer magnitude of OMega also enables ALP to introduce a \u201cshared warehouse\u201d structure to offer flexibility to support its clients\u2019 business expansion. Its scale also makes it possible to accommodate a complete industry vertical to shorten respective supply chains, accelerate turnover of materials and products, and reduce working capital and distribution costs. Meanwhile, its automation solution supports the transformation of labor-intensive supply chains via data application and helps companies tackle the complexity of warehouse management to optimize business processes, gain time and improve cost-efficiency. ALP has enjoyed great success since its inception in 2014 as one of the first smart warehousing infrastructure developers to offer automation and robotic solutions in Taiwan. It is now managing more than 500,000 square meters of warehouses and over $800 million in assets. ALP has been expanding its services overseas to accommodate multinational clientele in each country they operate. In 2019, it began its Southeast Asia market expansion with the first subsidiary office set up in Malaysia which will be followed by neighboring countries including Vietnam, Thailand, the Philippines, and Indonesia. Beyond Bukit Raja OMega, ALP is looking at complementary developments in Malaysia as part of its $1 billion commitment. Taiwan\u2019s ProLogium Technology secures $326 million to expand global electric vehicle battery production capacity"}, {"url": "https://technode.global/2021/11/03/malaysias-venturetech-and-japans-sbi-ventures-launch-18m-private-equity-fund-to-boost-malaysian-growth-stage-technology-firms/", "page": 67, "title": "Malaysia\u2019s VentureTECH and Japan\u2019s SBI Ventures launch $18M private equity fund to boost Malaysian growth-stage technology firms", "contents": "Malaysia\u2019s government-linked investment firm The fund is designed to play a strategic role in supporting Malaysian firms in the high value-added and emerging industry market segments to scale up to their full potential and help attract additional investors to support the expansion of these companies during this economic recovery period, said VentureTECH in a statement. According to VentureTECH, the strategic partnering with Japan\u2019s SBI Ventures Malaysia is important in helping Malaysian industries build synergies and collaboration at the regional level, and in continuing to support their long-term growth as they strive to continue to scale up and compete in both the Malaysian and global markets. The initial fund targets to support technology industry leaders with their continued expansion in higher value-added production and services, and in improving the productivity of the traditional industries through IR4.0 and IoT applications in areas such as agro-based smart farming and digital healthcare, which is in line with Malaysia\u2019s MyDigital aspirations of increasing productivity by 30 percent across all sectors by 2030. The investments also aim to increase the number of skilled and highly skilled jobs with higher income to Malaysians, with other socio-economic benefits. \u201cI believe it is vital that we continue to support this segment of the high growth market, and our team is committed in our work to fund local industry players particularly Bumiputera (sons of the soil) who need, not only the fund but also the linkages, network, and expertise, to fuel their continued business growth and expansion globally,\u201d said VentureTECH Managing Director Norida Abd. Rahman. According to her, this private equity co-investment fund is a significant step forward towards VentureTECH\u2019s vision for creating Malaysian industry leaders, and also a hallmark collaboration to diversify their sources of funds for the Bumiputera Investment Program which has to date resulted in a total investment of more than 200 million MYR ($48.15 million), to nurture those companies in adopting best practices and values, and to accelerate their growth strategies and scale into regional and global champions. \u201cMalaysia is ranked third among ASEAN region in terms of per-capita GDP (gross domestic product), blessed with young, skilled and abundant labor population, coupled with a low unemployment rate. SBI recognizes the existence of ample investment opportunities in Malaysia, one of the fastest-growing economies in the ASEAN region with attractive start-ups,\u201d said SBI Ventures Malaysia managing director Yoshihiro Ishiwata. According to him, SBI Group seeks to expand its $5.5 billion worth of private equity portfolio globally and strive to nurture meaningful co-creation throughout this partnership with VentureTECH. VentureTECH is a wholly-owned subsidiary of the Malaysian Industry-Government Group for High Technology (MIGHT) and was established with a developmental mandate on local and Bumiputera industry development. Since its inception in 2009, VentureTECH has invested and committed to investing in 23 technology industry leaders in the targeted bio-based, emerging, and green industries, with aggregate investee net worth surpassing at least the 1.2 billion MYR ($290 million) mark. Among VentureTECH\u2019s investees are Ain Medicare, Selia-Tek Medical and Cell Tissue Technology in pharmaceutical, medical devices, and biotech; Prestigious Discovery, CMC Group, NDE Consultancy, Dreamedge, TXMR and Aerodyne in IR4.0 and IoT; Extra-Built, Maerotech, ACME Chemicals, Gaia Plas, TEVO and Detik Aturan in green industry; and KiwiTech in smart city platform. The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world\u2019s first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies \u2013 an activity undertaken since before the group\u2019s founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors. Currently, the development of new technologies is accelerating within the FinTech, IoT, AI, Big Data, and related fields. Malaysian investment firm Kenanga Investors launches fund to invest in tech firms"}, {"url": "https://technode.global/2021/11/03/malaysia-unicorn-carsome-seeks-200m-in-pre-ipo-funding-round-report/", "page": 67, "title": "Malaysia unicorn Carsome seeks $200M in pre-IPO funding round \u2013 report", "contents": "Malaysia-headquartered used car trading platform The Malaysia\u2019s first tech unicorn is working with an adviser for the planned fundraising and aims to complete it as soon as in the coming weeks, said the people, the newswire reported. Deliberations are ongoing and the funding size and timing could change, the people reportedly said. Carsome has yet to respond to Carsome, which also has a presence in Indonesia, Thailand and Singapore, announced the close of its $170 million Founded in 2015, Carsome transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. Carsome currently transacts around 100,000 cars annually and has more than 1,700 employees across all its offices. Carsome BloombergMalaysia\u2019s Carsome raises $200M in financing round, valuation hits $1.3B"}, {"url": "https://technode.global/2021/11/03/teleport-to-raise-50m-to-100m-in-series-a-funding-report/", "page": 67, "title": "AirAsia\u2019s Teleport to raise $50M to $100M in Series A funding \u2013 report", "contents": "AirAsia Group BhdThe transaction will mark the company\u2019s first external funding, its Chief Executive Officer Pete Chareonwongsak told the newswire by email. Teleport was founded in 2018 with $3 million in seed funding from AirAsia Digital, he reportedly said. Teleport is valued at $300 million in a Founded in 2018, Teleport is a venture under Airasia Digital. Leveraging on AirAsia\u2019s network, Teleport\u2019s ambition is to deliver door-to-door in under 24 hours across Southeast Asia. Currently, Teleport is present in Malaysia, Thailand, Indonesia, the Philippines, India, Singapore and China. Teleport posted an EBITDA of MYR3.17 million (~$748,500) in the first quarter of 2021, down from MYR63.18 million (~$14.9 million) in Q1 2020, according to AirAsia\u2019s financial statement. The other businesses under AirAsia Digital including AirAsia Super App, BigPay and other digital entities were still loss-making. AirAsia\u2019s logistics arm Teleport to acquire food delivery platform Delivereat for $9.8M"}, {"url": "https://technode.global/2021/11/02/malaysia-property-developer-hatten-land-partners-singapore-fintech-hydra-x-to-develop-and-operate-cryptocurrency-exchanges/", "page": 67, "title": "Malaysia property developer Hatten Land partners Singapore FinTech Hydra X to develop and operate cryptocurrency exchanges", "contents": "Malaysia property developer The Crypto Exchanges will focus on listing and trading of newly-minted Bitcoins (also known as \u2018Virgin Bitcoins\u2019 or \u2018Clean Bitcoins\u2019), eco-friendly BTC wrapper tokens (\u2018Green Bitcoins\u2019), as well as other \u2018green\u2019 cryptocurrency, tokens and/or \u2018green\u2019 credits, Hatten Land said in a statement. In addition to operating the exchanges, the joint venture will also generate revenue by providing custody services for the cryptocurrencies and tokens that are being traded. The joint venture is the latest initiative undertaken by Hatten Land to re-purpose its malls in Melaka and align its business model with the growth trends of the digital economy. The group has announced plans to create a \u2018metaverse\u2019 digital twin of historical Malaysian city and to develop a dedicated token system, and create digital assets, including nonfungible tokens (NFTs). Hatten Land is also working with partners to install solar panels on rooftops of the malls and potentially build large-scale solar photovoltaic (LSSPV) facilities of 100 MWp. These panels will enable environmentally-friendly cryptocurrency mining which will commence with 3,000 mining rigs to be operated with two different partners. The digital assets derived from these new initiatives may also be listed or traded on the Crypto Exchanges. With every transaction being recorded on distributed ledgers, regulated financial institutions might reject Bitcoins that may have been used for illegal activities. However, freshly minted \u2018Virgin Bitcoins\u2019 with no transaction history are considered pristine and can potentially command a premium. \u2018Green Bitcoins\u2019 mined with renewable energy sources are also gaining popularity among cryptocurrency investors. Under the joint venture agreement, Hatten Technology will hold a 60 percent equity stake in the joint venture company with the remaining 40 percent equity stake to be held by Hydra X. As partial consideration for the development costs for the Crypto Exchanges, Hydra X will be issued new ordinary shares of Hatten Land and Hydra X will become a shareholder of the company. Hatten Land has also proposed to issue 20 million new ordinary shares at S$0.06 ($0.04) per share to technology-focused investor Golden Summit International Ltd, of which 70 percent of the net proceeds will be used to fund new business initiatives of the group and the rest will be used for working capital. \u201cThis joint venture to develop and operate Crypto Exchanges is strategic to our digital and blockchain initiatives. The listing and trading of digital assets will significantly enhance the value proposition of our strategic pivot towards the digital economy. While cryptocurrencies are becoming mainstream, we foresee a growing demand for \u2018Virgin\u2019 and \u2018Green\u2019 Bitcoins amid the rising ESG trend and we look forward to harnessing the opportunities in this area,\u201d said Colin Tan, Executive Chairman and Managing Director of Hatten Land. Hydra X Chief Executive Officer Daryl Low also said the initiative is a step towards fulfilling Hydra X\u2019s aim to help catalyze institutional adoption of digital assets. \u201cWe look forward to a fruitful partnership with Hatten Land to enable global trading in the digital capital markets space while playing a part in promoting environmental sustainability by addressing concerns of socially conscious investors,\u201d he said. According to Hatten Land, the Crypto Exchanges and related custodian services are subject to obtaining the necessary regulatory approvals which the joint venture company will be applying for in both countries. Hatten Land is Malaysia\u2019s property developer specializing in integrated residential, hotel, and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a brand in Malaysia with core businesses in property development, property investment, hospitality, retail, and education. Hatten Land began trading on the Catalist board of Singapore Exchange on February 28, 2017, after the completion of the reverse takeover of VGO Corporation Limited. Singapore-headquartered Hydra X offers digital technology infrastructure to global financial institutions in the capital markets space. It provides regulatory compliant, end-to-end multi-asset market infrastructure solutions which allow interoperability between digital and traditional assets. Headed by Daryl Low, Hydra X\u2019s management team has altogether 60 years of experience in finance, financial regulation, law, and technology. Hydra X\u2019s customers include financial institutions such as DBS and currently provides custodian services for digital securities under the FinTech Regulatory Sandbox of the Monetary Authority of Singapore (MAS). Meanwhile, Golden Summit invests in consumer and enterprise tech companies in Southeast Asia, North Asia, and North America, focusing on enterprise software, FinTech, e-commerce, and the healthcare industry. Its investments include Coupang, the largest online marketplace in South Korea, and Stockbit, a popular Indonesian stock trading app, among others. Cryptocurrency exchange platform FTX Trading closes $420M Series B-1 funding round, now valued at $25B"}, {"url": "https://technode.global/2021/11/01/malaysia-proposes-various-tax-exemptions-for-evs-in-budget-2022/", "page": 67, "title": "Malaysia proposes various tax exemptions for EVs in Budget 2022", "contents": "The Malaysian government has announced to give full exemption of import duty, excise duty, as well as sales tax for electric vehicles (EVs) in a bid to support the local EV industry. The announcement was made by Finance Minister Tengku Zafrul Abdul Aziz when he was tabling the Budget 2022 in Parliament. A 100 percent road tax exemption will also be given to EVs, he said. \u201cThe government sees the potential of EVs with Energy Efficient Vehicle (EEV) features as means to minimize vehicle smoke pollution in the atmosphere. To support the development of the local EV industry, the government proposes to provide import duty, excise duty, and sales tax exemptions on EVs,\u201d he said. Additionally, individual income tax reliefs of up to 2,500 MYR ($602.57) will be given for the purchase and installation, rental and hire purchase of EV charging facilities as well as payment of EV charging facility subscription fees, the minister said. The move came as EVs are gaining popularity. Last week, car-rental firm Hertz announced that it had made a deal to buy 100,000 cars from EV maker Tesla. Japanese carmaker Toyota is also developing fully EV that would debut by 2025. Malaysia has unveiled its largest-ever budget on Friday, in a bid to boost the recovery of its economy after COVID-19 pandemic hit. The country\u2019s economic growth is expected to be between 3 and 4 percent for 2021, Tengku Zafrul said. \u201cNext year, the country\u2019s economy is projected to expand between 5.5 and 6.5 percent based on strong fundamentals and a diversified economic base. However, this performance also depends on other factors including the success of our pandemic response, the effectiveness of our vaccination programs as well as the robustness of the global economy and trade prospects,\u201d he said. Budget 2022 will be the largest budget to date, with an allocation of 332.1 billion MYR ($80 billion). From this allocation, the government will provide 233.5 billion MYR ($56.25 billion) for operating expenditure, 75.6 billion MYR ($18.21 billion) for development expenditure, and 23 billion MYR ($5.54 billion) under the COVID-19 Fund. A total of 2 billion MYR ($481.7 billion) was also provided as a contingency reserve advance warrant. Even with an expansionary budget in place, the fiscal deficit is projected to reduce to 6 percent to GDP compared to a fiscal deficit of 6.5 percent to GDP in 2021, the minister said. Read the full Budget 2022 speech Amid range and charging anxiety, the EV ecosystem will benefit from extreme fast charging"}, {"url": "https://technode.global/2021/10/29/foodpanda-malaysia-apologizes-updates-its-wastage-policy-after-several-vendors-protests-complaints/", "page": 67, "title": "Foodpanda Malaysia apologizes, updates its Wastage Policy amid several vendors\u2019 protests & complaints", "contents": "Food delivery platform \u201cWe appreciate our merchant partners\u2019 candid and constructive feedback. After extensive conversations with them, Foodpanda has decided to revise the Wastage Policy with immediate effect,\u201d Foodpanda Malaysia said in a statement on Friday. The food delivery platform has also apologized and said it was never its intention to use this policy change to \u201cunfairly apply any \u2018hidden\u2019 fees\u201d towards its merchant partners. \u201cFirst and foremost, we would like to apologize for any inconvenience that our recent policy may have caused. It was never our intention to use this policy change to unfairly apply any \u2018hidden\u2019 fees towards merchant partners on our platform,\u201d Foodpanda said. Foodpanda Malaysia\u2019s statement came after A vendors\u2019 group on Facebook where vendors discussed and complained about several issues they faced, has garnered 7,000 members within two weeks, In the statement on Friday, Foodpanda claimed that at its core, the Wastage Policy was designed to tackle cases of fraudulent transactions resulting in food wastages, which was why a proposed policy was introduced to rebalance the current cost structure with its merchants. \u201cFoodpanda is committed to improve and ensure smooth implementation of policies. Therefore, after in-depth discussions with merchant partners, we have decided to review and exempt selected fees and charges from the Wastage Policy,\u201d the company said. Foodpanda said it would like to reiterate its commitment to maintaining a healthy ecosystem between Foodpanda and its partners. \u201cTo further assist all merchant vendors in need, Foodpanda has also simplified our vendor Help Center to provide more efficient resolutions. All merchant queries will be responded to within 48 hours,\u201d the food delivery platform said. The food delivery industry in Malaysia has seen more players after the COVID-19 pandemic hit as demand for food delivery services surged. Many have opted to order food online or through apps due to dine-in restrictions to contain the infectious virus. Malaysia budget airline AirAsia Group launched Earlier in July, MyCC said it was closely monitoring and assessing the situation as to whether the conduct(s) of certain food delivery platform companies is in contravention of the Competition Act 2010 or not. The commission, along with the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) have met with relevant parties including the food and beverages (F&B) and retail industry players to understand the issues raised by them. \u201cBased on the series of meetings held, we have identified several concerns and challenges in the industry, in relation to not only competition but also consumerism. The way forward for us is to actively engage with the food delivery platform providers,\u201d MyCC Chief Executive Officer Iskandar Ismail said then. Foodpanda is a brand under Germany-headquartered multinational online food-delivery Delivery Hero. It has a presence in Thailand, Pakistan, Singapore, Malaysia, Taiwan, Bangladesh, Hong Kong, the Philippines, Romania, Cambodia, Laos, Myanmar, and Japan. Delivery Hero acquired Foodpanda in December 2016. Malaysia Competition Commission closely monitors food delivery platforms after public outcry on exorbitant commission fees"}, {"url": "https://technode.global/2021/10/29/malaysian-investment-firm-kenanga-investors-launches-fund-to-invest-in-tech-firms/", "page": 67, "title": "Malaysian investment firm Kenanga Investors launches fund to invest in tech firms", "contents": "Malaysian investment firm The fund aims to invest primarily in equity securities of global cutting-edge, innovative companies with long-term sustainable growth potential, are on the cusps of initial public offerings, and have or will develop products and services that are linked to technologically-driven innovations, said Kenanga Investors in a statement. The fund also aims to further bridge the gap between retail investors and global tech companies of the future. Kenanga Investors foresees significant investment possibilities in these growth or late-stage ventures, where their underlying themes are unified in focusing on the Next Generation, or forward-looking innovations currently shaping the industries of the future, such as the space economy, the metaverse, healthcare, fintech, and cybersecurity. The fund will allow investors to capture the sustainable value generation of these companies, which were previously exclusively available to institutional investors. Kenanga Investors Executive Director and Chief Executive Officer Ismitz Matthew De Alwis said the firm intends to reshape the existing private equity space in Malaysia by focusing on addressing the lack of available gateways for investors to access investment opportunities in prominent, hard-to-reach early start-ups. \u201cSince 2016, emerging digital companies have won over the \u2018old economy\u2019 by being among the top five most valuable corporations. Given the constant development of new technologies, it is unsurprising that new technology companies are sprouting. We began this process of bridging the gap between prominent players of the new \u2018Big Tech\u2019 and our investors back in 2019,\u201cThe resulting outcome has been fulfilling for our investors in many ways; from portfolio diversification to the exploration of a new investment universe beyond the traditional investing realm, and so, demand for similar offerings has risen. We are glad to introduce the Fund to the market where investors who were not able to participate previously will have an opportunity to do so this time\u201d, he said. The fund\u2019s focus on frontier technological breakthroughs also signifies Kenanga Investors\u2019 journey to a sustainable investing roadmap. \u201cFrontier tech represents a multitude of opportunities in boosting the development curve of the future, from utilization of technologies to reduce carbon emissions, new medical discoveries to propel patient empowerment to the democratization of financial services, the advent of frontier tech will allow for greater societal benefits and driving sustainable returns,\u201d said De Alwis. The fund feeds into the Ericsenz Frontier Fund and is suitable for sophisticated investors who have medium to long-term investment horizons. The initial offer period is from October 27 through December 3, 2021. It is available in both MYR and USD classes so investors can choose to invest in their preferred currency. The Target Fund Manager, Ericsenz Capital Pte. Ltd, is a venture capital and private equity firm licensed by the Monetary Authority of Singapore with a collective experience of close to 100 years dealing with high growth middle-market companies primarily within the technology, healthcare, consumer, and energy sector. Ericsenz is known for its strong network of professionals and associates providing valuable insights into global tech brands. Wavemaker Partners launches climate tech venture builder Wavemaker Impact with $25M target for its first fund"}, {"url": "https://technode.global/2021/10/28/singapore-insurer-ntuc-income-expands-insurance-as-a-service-to-indonesia-vietnam-malaysia-via-partnerships/", "page": 67, "title": "Singapore insurer NTUC Income expands Insurance-as-a-Service to Indonesia, Vietnam, Malaysia via partnerships", "contents": "NTUC IncomeThese strategic alliances are built on Income\u2019s Insurance-as-a-Service (IaaS) model that enables the company to bring digital-first insurance business models to partners overseas, enhance their speed-to-market, and equip them with the right capabilities and tools to capture new customer segments and revenue streams, NTUC Income said in a statement. Partners will also be able to leverage Income\u2019s strong brand reputation and track record in digital product innovation to support market roll-out, as well as its technology know-how and connectivity with digital ecosystems for greater agility to innovate at scale to meet consumers\u2019 changing needs. Since the start of the COVID-19 pandemic, 70 million people in Southeast Asia have become digital consumers and are making online purchases more than before. Almost 80 percent of the population in the region is projected to become digital consumers by end of 2021, signaling strong demand for digital consumption in the region. The market size for digital insurance is also projected to reach $7.6 billion by 2025, with digital financial services taking off in Southeast Asia in a way that is exciting for both consumers and businesses. More significantly, the acceleration of digital consumption is showing no signs of abating, with nine in 10 new digital consumers intending to continue using digital services in the future. \u201cOur foray overseas opens a new chapter of growth for Income and is a natural next step in our strategic growth plan. The market potential of countries like Indonesia, Malaysia, and Vietnam is huge given their relatively young populations and high mobile penetration rates. Considering their large geographical distribution areas, I believe that these markets are especially primed for new digital insurance propositions that are enabled by technology. The diversity of our regional partners is a testament to the value of our IaaS model and more significantly, signals that Income is well placed to work with any partner in Asia,\u201d said NTUC Income Chief Executive Officer Andrew Yeo. \u201cAs a born and bred insurer in Singapore, we understand that homegrown businesses know their local consumers best, hence the partnerships are a win-win for us. By forming strategic alliances with like-minded local partners, it allows us to understand the demands of Asia\u2019s digital-first population first-hand, scale our offerings quicker through our partner ecosystems, and most importantly, better relate insurance to customers and make insurance accessible to more. Income\u2019s purpose is to empower better financial well-being for all and to offer insurance access even to the underserved among us. We aim to stay committed to our cause even as we plant our flag abroad,\u201d he added. Since the inception of the Digital Transformation Office (DTO) more than four years ago, NTUC Income has been innovating and rolling out new insurance business models such as micro-insurance (SNACK), subscription insurance (TRIBE), and usage-based insurance (Milesurance, Gigsurance, and Freightsurance). These propositions bring to market a new way of engaging with and consuming insurance that is embedded in customers\u2019 lifestyles. This calls for a shift in conventional insurance mindset and appetite for unprecedented risks, alongside a new appreciation for data, InsurTech, and an iterative approach to product design and roll-out. \u201cAs we bring new insurance innovations to the market, we are able to fold our experience and learn from reimagining insurance across the value chain into an IaaS model. Our regional partners recognize the immense competitive advantage that comes with the model as Income grows our digital ecosystem and continues to evolve our way of working with ecosystem partners, be it in Singapore or regionally. The IaaS model, thus, plays to our strength as a digital insurer, connecting partners with the right capabilities, technology know-how, and innovative insurance models to transform and scale their business models efficiently,\u201d said NTUC Income Chief Digital Officer Peter Tay. \u201cWhether it is through our borderless and modular plug-and-play application program interface (API) microservices, product innovations, seamless customer journey design, or dynamic pricing capabilities, we are confident that the IaaS model will not just complement, but value-add to partners\u2019 existing solutions and strengthen their value propositions in the insurance, broker or InsurTech arenas,\u201d he added. As part of Income\u2019s strategic partnerships with JAGADIRI, PTI, and VSure, these companies will be the first in Indonesia, Vietnam, and Malaysia to launch Droplet respectively across four cities including Greater Jakarta, Hanoi, and Ho Chi Minh City, as well as Kuala Lumpur. Droplet is a first-of-its-kind micro-insurance product that is designed to address a major pain point of consumers in Southeast Asia \u2013 price surges on ride-hailing platforms during rainy days. In 2020, the total market value of ride-hailing in SEA was estimated to be at $11 billion, with Indonesia ($5 billion) leading the pack, followed by Singapore ($2 billion), Vietnam ($1.6 billion), and Malaysia ($1.1 billion). With the total value of the ride-hailing market in SEA projected to increase by almost four times to $42 billion by 2025, this tremendous demand for ride-hailing services among Southeast Asians has given rise to the need for \u2018rainsurance\u2019 like Droplet to protect consumers financially against price surges on these platforms, particularly during the monsoon season. \u201cTechnology-enabled lifestyle has opened up real opportunities for insurance solutions. The ride-hailing phenomenon and the launch of Droplet are cases in point. We are bullish about lifestyle-embedded insurance propositions such as Droplet and will continue to take inspirations from lifestyle pain points of consumers in Singapore, Indonesia, Malaysia, Vietnam, and beyond to drive innovation, co-create digital-first insurance products and customer journeys for more people regionally,\u201d said Tay. Malaysia InsurTech firm PolicyStreet. com raises $6M in Series A, receives in-principle approval for reinsurance & general insurance license"}, {"url": "https://technode.global/2021/10/28/airasia-partners-more-airlines-to-sell-competitors-flights-on-super-app/", "page": 67, "title": "AirAsia partners more airlines to sell competitors\u2019 flights on super app", "contents": "Malaysia budget airline Some of its newest airline partners are Air Canada, Air France, Air Mauritius, Bamboo Airways, Ethiopian Airlines, flydubai, Go First, KLM, Mahan Air, Qatar Airways, Turkish Airlines, Philippine Airlines, US Bangla Airlines, and others, AirAsia said in a statement. Its hotel partnerships have also continued to grow with over 300,000 hotels now available on the super app. The super app continues to expand its flight and hotel offerings by partnering with more than 700 international airline brands flying to over 3,000 destinations and promoting thousands of hotels worldwide. With these expanding collaborations, its airasia Super App users can now secure great value travel deals to many destinations outside of AirAsia\u2019s network, including across Europe, Oceania, Africa, the Middle East, and the Americas, the aviation group said. \u201cIn just over two years, we are now one of the top three leading online travel agencies (OTAs) in ASEAN based on website traffic, with over 100 million average page views monthly. What gives us a unique advantage is the fact we are the only OTA that also owns an airline, which has allowed us to leverage our experience with flights to ensure the lowest prices guaranteed on many select offerings. We also have access to a wealth of big and rich travel data, as we have always been a digitally-driven business since day one, 20 years ago,\u201d airasia Super App Chief Executive Officer Amanda Woo. Through the collaborations, AirAsia will offer travel deals to more destinations outside its network across Europe, Oceania, Africa, the Middle East, and the Americas. AirAsia will compete with online travel platforms such as Agoda, Expedia and Indonesia-based Traveloka. AirAsia\u2019s move to partner with more airlines and sell more flights on its super app comes as Malaysia and other countries in Southeast Asia are beginning to reopen their economies and tourism sector to welcome back tourists. Malaysia announced on Monday it will reopen Langkawi island to overseas visitors beginning November 15, under a pilot international tourism bubble project. Neighboring Singapore said Tuesday it will allow quarantine-free entry to travelers vaccinated against COVID-19 from Australia and Switzerland from Nov 8. Last week, Thailand announced it will let vaccinated visitors from 46 countries forgo COVID-19 quarantine from next month, up from 10 previously announced. In November 2019, AirAsia has expanded its online offering to include flights on other airlines as it transformed airasia. com into Asia Pacific\u2019s travel and lifestyle platform in partnership with leading travel technology company AirAsia super app, which provides services from flight booking, food delivery, e-commerce to e-hailing services, has a market value of around $1 billion, Credit Suisse recognizes AirAsia Digital as tech unicorn alongside Carsome, Axiata\u2019s EdotcoFeatured image credit: "}, {"url": "https://technode.global/2021/10/28/malaysia-home-services-platform-recommend-group-raises-4m-series-a-funding-led-by-chinas-morning-crest-capital/", "page": 67, "title": "Malaysia home services platform Recommend Group raises $4M Series A funding led by China\u2019s Morning Crest Capital", "contents": "Recommend GroupThe funding round was also joined by its existing investors, including BTFV, a Singapore-based venture capital firm. The fund-raise met with a strong positive response from investors internationally and oversubscribed, said Recommend Group in a statement. According to the statement, Recommend Group will be using the funds to expand the teams in Indonesia and Malaysia, with a focus on product and engineering. It will also improve the user experience on its customer and vendor mobile apps, as well as its website, build new features that empower service workers to manage and grow their businesses. Recommend Group also targets to expand quickly into tier 2 and 3 cities in Indonesia and Malaysia while maintaining strong quality standards. The group is also planning to partner with training providers and government agencies to grow the pool of skilled service workers and boost the local economy. \u201cThere has been a significant growth in demand for professional home services for the past few years, especially during the pandemic where volume in some categories grew by 3 times. Through the pandemic, we kept searching for and on-boarding top quality service professionals, training them on our quality standards and standard operating procedures (SOPs) and incentivising them to get vaccinated. We wanted to keep our average rating at least 4.6 stars out of 5\u201d said Jes Min Lua, Co-Founder and Chief Executive Officer of Recommend Group. Known as Recommend. my in Malaysia, the platform provides a convenient and safe way for customers to hire recommended service professionals for their homes. When a customer books a service or requests for a quote, the Recommend algorithm searches for the right service professional based on reviews and ratings, expertise, location, and availability, thus providing the best option for the customer. Over 200 services are available across 10 verticals, including home maintenance, appliance servicing and repairs, home improvement, cleaning and disinfecting, and lifestyle and beauty services. Customers can choose to directly book a home maintenance service, or get multiple quotations from several service professionals for home improvement and renovations services. Alternatively, customers can browse the list of top-rated service professionals for each area and call, WhatsApp or invite them to quote for their project. Customers can even specify that they prefer fully-vaccinated teams for additional safety. Recommend. my also powers the home service offerings within popular apps like Boost e-wallet app, consumer brands like IKEA, and community apps like Mah Sing MConcierge. \u201cWe want all customers to be able to access our base of verified, high-quality service professionals no matter what app they hold in their hand. To date, we have served more than 1 million homes in Malaysia and Indonesia. This helps our algorithm get smarter and smarter at making the right match,\u201d said Alex Tan, Co-founder of Recommend. my. With home services being a largely unregulated industry, the platform has vetted over 10,000 companies and independent service professionals in Malaysia by working with them to standardize service scope and prices, improve service quality, enable cashless payments, and provide strong service warranties and insurance protection. Ultimately, the platform works to drive new customers and jobs to these high-quality service professionals and helps them grow their business. \u201cUltimately, customers will associate us with convenience and the most trusted service professionals in Southeast Asia. Businesses in the service industry will also be proud to be associated with our brand,\u201d said Lua. DroneTech startup Poladrone raises $4.29 M in Malaysia\u2019s largest Seed round"}, {"url": "https://technode.global/2021/10/27/angkasa-bousteads-consortium-banks-on-islamic-bank-positioning-existing-captive-members-to-win-a-digital-banking-license-in-malaysia-qa/", "page": 68, "title": "Angkasa-Boustead consortium banks on Islamic bank positioning, existing captive members to win a digital banking license in Malaysia [Q&A]", "contents": "Editor\u2019s note:When Malaysia is one of the leading global hubs for Islamic finance. The country is also at the forefront in the development of Islamic banking, Islamic capital market, and takaful (Islamic insurance). It has a strong and comprehensive Islamic financial system with a robust business-driven regulatory regime and legal framework, according to the country\u2019s central bank The consortium\u2019s positioning as an Islamic digital bank could help it to stand out and differentiate itself from the other contenders. The central bank said it has received A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. Notable applicants that have officially announced their applications include Grab-Singtel venture, Angkasa, Boustead and the insurance brokerage firm\u2019s entities have collaborated under MyAngkasa Digital Services (MDS), a subsidiary of Angkasa. The consortium has also put together a host of strategic partners, including German digital banking provider \u201cAngkasa has provided financial services for more than 40 years based upon a shariah-compliant, Islamic financial model. We want to preserve our ethical banking values and are delighted that our business partners share the same principles. We believed that the evaluation process would strongly be based on the strength and merit of the consortium partners, creative product innovation, technology engagement, financial stability, and the market that we serve,\u201d MyAngkasa Digital Services Co-Founder and Executive Director Hudhaifa Ahmad told \u201cProposing for Islamic digital bank license might slightly give an advantage, but it will still be subject to the rigorous selection process that complies with Bank Negara requirements,\u201d he said. Another member of the consortium Boustead is a public listed conglomerate majority-owned by military retirement fund Lembaga Tabung Amanah Tentera (LTAT). The group is involved in various businesses including plantations, heavy industries, property, and pharmaceuticals, among others. The conglomerate, which serves as the investment arm of LTAT, directly holds 20.81 percent and indirectly holds 0.03 percent in \u2018The independent insurance broker\u2019 has also a solid footing in Malaysia as it has been providing comprehensive solutions since 1978 focusing on specialist insurance, reinsurance, takaful, and employee benefit solutions, MDS said then. In the interview, Hudhaifa shared the opportunities the consortium sees in building a digital bank in Malaysia and what are the competitive advantages it has against other contenders vying for up to five digital banking licenses which are expected to be issued in the first quarter of 2022. He shared his views on how digital banks in Malaysia will have an impact on the banking industry in the short term and long term. He also shared his views on the profitability path for digital banks, citing examples from other countries. Below is an edited excerpt of the interview:MyAngkasa Digital Services (MDS) is the digital bank consortium entity led by Angkasa, Boustead, and a world-renowned independent insurance broker. MDS believed that digital bank is the best medium to serve Malaysians especially B40 underserved and unserved as well as within our very own cooperatives population. This segment has long been deprived of getting the desired banking products as they were deemed unbankable due to factors ranging from high costs of service, out-of-service coverage, mismatched products and services, to credit worthiness-related issues. With the evolution of technology, especially in mobile wallets, AI, data analytics, eKYC, blockchain, cloud services, robust digital security, compliance framework, and many others, the transformation of the banking industry is set to happen and digital banking that serves customers anytime, anywhere will be the future. Digital bank is expected to reduce the standard cost of operations since it will not require brick-and-mortar establishments, lesser manpower, and limitless access to multiple product platforms which will entice customers and thus open up opportunity to extend the savings to its customers via enhanced customer experience to serve the targeted population towards the path of financial inclusivity to the entire B40s. With more than half of our population falling into this category and the accelerated adoption of e-commerce by Malaysians during the global pandemic, MDS believes this would be an ideal business model that fits perfectly with our business philosophy. Angkasa is the apex for more than 10,000 cooperative movements in Malaysia, with nearly 7 million captive members. We have provided financial aid to the underserved and unserved masses for more than 40 years. We have the roadmap and knowledge required to serve the market well because we understand them better. Our collaboration with Boustead will further strengthen the economic viability of the consortium as Boustead\u2019s customers partly represent the same economic bracket. This will be the basis of how we will provide our banking services to the deserving Malaysian population. Our business philosophy is to provide our customers with the best product available and enjoy a seamless experience when engaging with us. We are here for the long haul and providing customer satisfaction is the DNA that we nurtured as part of our work ethics. We have carefully selected our technology partners and devised a comprehensive environment that has future scalability and sustainability. We will use our cutting-edge technology and deep experience to provide innovative products, tailor-made to give them personalized services that will elevate the joy of doing banking ethically, as and when they need it. We want to give them the authority and power of managing their own financial needs because every individual has a unique and different necessity. With our partner\u2019s extensive network and proven technology that we engaged in, our customers will be primed for the best banking experience they have ever wished. Angkasa has provided financial services for more than 40 years based upon a shariah-compliant, Islamic financial model. We want to preserve our ethical banking values and are delighted that our business partners share the same principles. We believed that the evaluation process would strongly be based on the strength and merit of the consortium partners, creative product innovation, technology engagement, financial stability, and the market that we serve. Proposing for Islamic digital bank license might slightly give an advantage, but it will still be subject to the rigorous selection process that complies with Bank Negara requirements. The underserved and unserved segments are very substantial as they represent a very large percentage of our population. These are the mass population with a banking account and limited access to innovative and customized banking products. They were deemed \u2018unbankable\u2019 and costly to maintain. We do look forward to using our understanding of our captive customer behaviors and providing solutions that suited their needs and expectations. Our immediate focus will be serving our captive market of 7 million members and at least 10,000 cooperatives, most of which are in the unserved and underserved segments. We plan to leverage on our strengths in brand loyalty, wide distribution channel footprints of cooperative networks, and existing membership base to roll out a unique model of \u2018sachet banking\u2019 comprising innovative, simple daily banking products that suit our target segments such as dual savings, bite-size financing and a slew of digital financial management tools to support our customers in managing financial health and literacy awareness. Bank Negara has identified five key criteria for applicants to build their bidding case:Firstly, must be in the best interest of Malaysia. The digital bank is committed to driving financial inclusion including ensuring quality access and responsible usage of financial services. This criteria is certainly unique for Malaysia as unlike European-based digital banks\u2013also known as \u2018Challenger Banks\u2019 competing in the same space as incumbent banks\u2013the central bank has put a clear emphasis on ensuring the focus is on unserved and underserved markets, driving towards financial inclusivity. Secondly, the digital bank offers meaningful access through responsible usage of innovative financial solutions, specifically towards serving unserved and underserved segments. Thirdly, demonstrate viability and sound operations with an asset threshold of not more than 3 billion MYR ($722.41 million) in the first 3 to 5 years (Foundational Phase). Fourthly, comply with Financial Services Act 2013 (FSA) and Islamic Financial Services Act 2013 (IFSA) regulations, with simplified regulatory requirements in the Foundational Phase. Last but not least, safeguard the integrity and stability of the financial sector through minimum capital funds of 100 million MYR ($24.08 million) in the Foundational Phase and 300 million MYR ($72.23 million) thereafter. We also believed that Bank Negara would extensively evaluate the strength and merit of the consortium partners and the adoption of technology that they engaged with, as it is crucial that those granted digital banking licenses are able to deliver the financial inclusion objectives. There are differing views between incumbent banks on whether digital banks impose strategic threats to their existing operation. To that point, one has to remember that the introduction of digital banks is just the next chapter of banking evolution. If we look back at the history of banking in the early Renaissance period, it was based on the barter system. Then it expanded to many parts of the world and continues to evolve into the current modern banking technology to meet the complex demands of various needs of customers. With the introduction of the Internet in the late 90s, banks expanded their coverage from traditional brick-and-mortar branches to internet banking. Customers found themselves able to do basic banking services such as account inquiry, payments, and remittance via personal computer at the comfort of their own homes and no longer need to walk into a physical branch. In the 2000s, mobile technology took a great leap with the introduction of smartphones powered by various mobile operating systems such as Android, iOS, Symbian, and Microsoft. Between 2018 to 2020, over 383 million smartphones were sold every three months. This catapult major development of banking technology moving further towards mobile banking, e-wallet, e-remittance, eKYC, QR Pay, NFC Pay, and many more. Now, with much more advanced technology focusing on full-fledged banking services being offered entirely over the internet. The shift from traditional to digital banking has been gradual and is constituted by differing degrees of banking service digitization. Digital banking involves high levels of process automation and straight-thru processing (STP), web-based services and may include APIs enabling cross-institutional service composition to deliver banking products and transactional services. I think this certainly will transform Malaysia\u2019s BFSI space in line with regional development as well. Yes, most digibanks are struggling to hit breakeven. Most recent include Australian Xinja which decided to exit the business entirely after three years of operation. However, we have also seen several other digibanks especially from China, South Korea, and Japan who have managed to be in the black. In the Asia Pacific, 13 most profitable digibanks upped their earning by 49 percent in 2019. Out of the 13, six of them with less than five years of operation took between 1.5 years to 2.5 years to be profitable, while remaining with more than six years of operation took between 2.3 years to 4.8 years to break even. Two common factors for early profitability are that the digibanks either grew out of messaging platforms (e. g. WeChat/Mobile QQ for WeBank, KakaoTalk for Kakaobank, etc. ) or are based in large consumer markets (e. g. Rakuten and PayTM). Hence, in my opinion, this is the key differentiator. As such, for Malaysia\u2019s digibank, in my opinion, having an existing captive population segment is crucial as it will tremendously affect how much you will end up spending on the cost of user acquisition, which in turn will affect your profitability timeline. SGX-listed iFAST Corp to continue digital bank ambition in Malaysia [Q&A]"}, {"url": "https://technode.global/2021/10/27/dronetech-startup-poladrone-raises-4-29-m-in-malaysias-largest-seed-round/", "page": 68, "title": "DroneTech startup Poladrone raises $4.29 M in Malaysia\u2019s largest Seed round", "contents": "PoladroneOther investors that participated in the round include the Malaysian Technology Development Corporation (MTDC), a strategic investment fund wholly-owned by the Khazanah Nasional Berhad, ZB Capital Limited (a Hong Kong-based principal investment firm), and angel investors. \u201cThe funding round will allow us to scale up operations to better serve customers across the region, and to attract top talents to further improve our products,\u201d Poladrone\u2019s Founder and Chief Executive Officer Cheong Jin Xi said in a statement. Poladrone is setting up Service Centres in agricultural towns to offer \u201cSales, Service, and Spare Parts\u201d in Malaysia and Thailand, and is looking to expand to other markets in the region, specifically Indonesia. The Service Centres will also act as Centres of Excellence, where industrial training and knowledge sharing will be conducted to boost the adoption of drone technology. Poladrone has also recently launched Mist Drone\u2013a blanket spraying agriculture drone that is better suited for open field crops, such as paddy, corn, and banana. \u201cMany of our customers rely on drones to earn a living, and downtime is detrimental to their livelihood. As most operations happen away from metropolitan areas, our Service Centres will provide better accessibility to customers to quickly maintain or repair their equipment. We are extremely excited to partner with the team at Wavemaker and MTDC who share the same vision, putting our customers\u2019 needs at the heart of our growth strategy,\u201d said Cheong. He also said, the DroneTech ecosystem is largely fragmented in the region, and with the right team, funding, and support, the group aims to be the leading player for all industrial drone-related solutions. \u201cHaving been brought up in a household of agricultural operators all the while spending over a decade working on his passion for drones, Jin Xi knows precisely what problems plantation owners face and how automation can help. It has been amazing to see him and the Poladrone team\u2019s approach to building localized solutions that are highly efficient, cost-effective, and tailored to plantations of all sizes. Poladrone now works with eight out of 10 of the biggest palm oil plantations in Malaysia\u2013an impressive feat that gives us the confidence to back the team and their vision of propelling Southeast Asia\u2019s agriculture industry,\u201d said Wavemaker Partners General Partner Galvin Lee. MTDC also said, its investment in Poladrone will spur the adoption of Fourth Industrial Revolution (4IR) in the agriculture sector in line with the National 4IR Policy and the recently launched 12th Malaysian Plan. \u201cThe technology offered by Poladrone would be able to reduce the reliance on foreign workers especially in the palm oil industry while at the same time helps increase the number of knowledge workers in the drone industry,\u201d it added. With support from the Malaysia Digital Economy Corporation (MDEC), Poladrone launched Oryctes in August 2020 as the world\u2019s first precision spot spraying drone to introduce an efficient and automated solution to the oil palm industry. In oil palm plantations, rhinoceros beetles are known as a serious pest to immature palms, affecting their photosynthetic ability and considerably reducing fruit yield. Frequent pesticide spraying exercises are required to maintain plant health. In Malaysia, spraying activities using knapsack sprayers and tractors are both labor-intensive and detrimental to workers\u2019 health. The labor shortage caused by the COVID-19 pandemic accelerated the adoption of the technology and Poladrone has quadrupled their team from 20 to over 80 in less than a year to cope with the demand. Founded in 2016, Poladrone is an all-in-one drone solutions provider that simplifies dangerous and demanding tasks across a range of industries through innovative and cost-efficient applications of autonomous drone technology. Based in Malaysia and Thailand, Poladrone offerings cut across various verticals\u2013Agriculture, Enterprise, Services, and Academy. Poladrone Agriculture is the pioneer of point-to-point agriculture spraying solutions. It designs and develops its autonomous agriculture drones in-house, namely Oryctes & Mist Drone, to enable the agriculture community to manage farms and plantations effectively. Using drones for data collection, Poladrone Agriculture processes and analyzes plant health, canopy heights, and more to provide recommendations and preventive actions to oil palm plantation owners. Poladrone Enterprise works with global brands such as DJI, Emlid, FLIR, Sentera, Micasense, and more to provide various enterprise drone products for commercial use, boosting cost and time efficiency in day-to-day operations workflows. Keeping operations safety in mind, Poladrone Academy\u2013Drone Academy Asia provides commercial drone training to individuals and organizations to effectively implement drone programs in existing workflows. More than just toys for the enthusiast, Poladrone believes drones are the workhorses of the future. Poladrone Services specializes in aerial mapping and surveying. It also provides turnkey solutions such as crop health detection, visual inspection, and thermal inspection. Singapore aerial mobility firm H3 Dynamics closes $26 million Series B funding"}, {"url": "https://technode.global/2021/10/26/omise-targets-to-triple-transactional-processing-volume-in-malaysia-as-it-launches-operations-in-the-country/", "page": 68, "title": "Omise targets to triple transactional processing volume in Malaysia as it launches operations in the country", "contents": "Thailand-based payment gateway Businesses operating online in Malaysia now have access to the full strength of Omise\u2019s modern payment gateway to accept payments securely, manage transactions, send payouts, and expand operations regionally to capture more sales and grow revenue. Meanwhile, businesses using Omise in Thailand, Japan, and Singapore can seamlessly expand their business and operations into Malaysia. Omise is a registered merchant acquirer regulated by the central bank of Malaysia, Bank Negara Malaysia (BNM), and the latest launch supports the growing Malaysian internet economy and strong uptake of e-commerce. The Thai fintech believes Malaysia\u2019s mid to large enterprises in automotive, insurance, telecommunications, F&B, and e-commerce sectors will be a natural fit for its solution. \u201cThey can easily configure multiple front-end collections online securely using direct APIs, payment links, and e-commerce plugins (particularly Magento and Woocommerce),\u201d Lee explained. Asked why Omise was entering a space that was rife with well-funded competition, she said: \u201cYes, the payments space is increasingly getting more crowded with well-funded companies providing more payment options. However, we think the pie is large enough to accommodate more players. \u201d\u201cThe digital economy in Southeast Asia and Japan continues to grow and Omise wants to be a part of this long-term macro trend. Omise provides a combination of a powerful modern payments stack, localized payment options, and a local support team to serve both existing customers that want to grow in Malaysia as well as new customers,\u201d she added. In conjunction with the launch, Omise revealed two local partners in Maybank and web design company Sweetmag. Its collaboration with Maybank\u2019s cash management team enables merchants to accept online FPX payments through 19 supported banks. In terms of future partners, Lee said, \u201cOmise welcomes all website and mobile developers, system integrators, software as a service (SaaS) and other platforms that need to design the ideal online user payment journey for their customers to reach out to us and discuss ways to collaborate. \u201dReplication of small-scale successes is often the most secure way to grow [Q&A with Yann LeMo\u00ebl for Startup Weekend Singapore 2021]"}, {"url": "https://technode.global/2021/10/21/malaysia-to-roll-out-digital-id-in-2024/", "page": 68, "title": "Malaysia to roll out digital ID in 2024", "contents": "The He said the initiative would not replace MyKad, the identification card currently in use, but would instead be a form of digital identification and self-authentication for individuals, using the latest biometric technology such as fingerprints, facial or iris recognition, the country\u2019s national agency \u201cThe digital verification of individuals is important, to prevent identity fraud in online transactions that can be detrimental to the country,\u201d he said during the 73rd National Registration Day which was held online. The rollout of digital ID also came as the need for online services and transactions has surged in the country. Hamzah said the NDI planning process began this year, with the National Registration Department (NRD) information and communication technology (ICT) system and infrastructure to be improved, so that it would always be up to date and safe to handle user identity verification matters through NDI. In neighboring Singapore, the government has launched Singpass, a personal authentication system that allows users to access various Government services online, in 2003. An enhanced Users can log in to digital services through the Singpass app using their fingerprint, facial recognition, or a 6-digit passcode. Additional useful features have been added to the Singpass app where users can use it to access one\u2019s digital IC, perform internet banking, manage insurance policies, and digitally sign documents, among others. In November last year, the Bank of Thailand expects around 40 million depositors will register for digital ID authentication under the Meanwhile, Hamzah also said the NRD and police were also developing an Integrated Mortality Data Verification System, which was an integration between the NRD and the Police Reporting System (PRS), involving 690 police stations in Peninsular Malaysia. The system would facilitate the process of verifying deaths reported at the 690 police stations and non-criminal deaths at home. \u201cThe transition and improvement from the old system to digital has proven to be able to increase the level of security of personal data information of Malaysians, especially in curbing irresponsible activities such as identity card forgery and the \u2018black economy\u2019,\u201d he added. Featured image credit: Blockchain FinTech AID:Tech raises $3.5M Series A funding led by Affinidi, will focus on growth and scale in Southeast Asia"}, {"url": "https://technode.global/2021/10/20/asx-listed-novatti-acquires-malaysia-fintech-firm-atx-group-for-up-to-7-4m/", "page": 68, "title": "ASX-listed Novatti acquires Malaysia FinTech firm ATX Group for up to $7.4M", "contents": "Australian Securities Exchange-listed payment firm ATX Group provides e-wallet providers, traditional retail stores, and kiosks with digital payments through their extensive payments network in Malaysia including more than 31,000 touchpoints, Novatti said in a Linkedin post. \u201cIn addition to welcoming the ATX team, Novatti looks forward to scaling the existing ATX business, introducing additional Novatti services, and further expanding across Southeast Asia,\u201d it wrote in the post. Novatti said the acquisition is priced at A$8.4 million ($6.3 million), to be paid in cash and Novatti shares but could reach A$9.9 million ($7.4 million), subject to ATX meeting certain revenue requirements in the first and second calendar years post completion of the acquisition. Completion is expected to occur by the end of November 2021, according to the presentation slides attached to the post. Founded in 2011 in Malaysia, ATX has developed and monetized a B2B2C bill payments ecosystem, besides providing e-wallet partners, traditional retail stores, and kiosks with digital payment services. It is also a program partner for 62,000 prepaid cards and has launched eight e-wallet platforms. It processes more than 10.2 million transactions annually. According to the presentation slides, ATX generated normalized revenue of A$2.8 million ($2.1 million) in the financial year 2020 (FY20) and A$3 million ($2.25 million) in FY21. It also produced EBITDA of A$0.4 million ($0.3 million) in FY20 and A$0.6 million ($0.45 million) in FY21, a 50 percent increase. The acquisition price represents a valuation of 2.8 times normalized annual revenue. ATX has been a Novatti partner since 2015. As a result, the business is well known and understood by Novatti, de-risking the acquisition, the presentation slides showed. Novatti said the acquisition creates an on-the-ground presence for the company in Southeast Asia, a key growth market going forward. This will also provide a platform for the potential expansion of other existing services, including Novatti\u2019s partnerships with The acquisition also provides Novatti with a physical presence in Malaysia. The country alone shows strong digital payments growth with a population of 32 million where digital wallets represent 13 percent of point-of-sale payments compared to 8 percent in Australia, Novatti noted. Mobile commerce turnover is expected to grow 100 percent by 2024, according to FIS World Pay 2020 Report. In Malaysia, the central bank is expected to issued up to The acquisition enables Novatti to scale existing ATX businesses while looking to introduce additional Novatti services to the Malaysian market, such as billing. Novatti will get access to ATX\u2019s leading technology, including e-wallets. Novatti\u2019s acquisition came after its announcement earlier this month that it has closed a A$10.5 million ($7.87 million) Series A funding round for its new banking business. The COVID-19 pandemic has boosted the demand for digital payments and online banking services across the globe including Southeast Asia. Novatti is a FinTech firm that enables businesses to pay and be paid, from any device, anywhere. Its solutions include issuing, acquiring, processing, and billing. Novatti has also applied to the Australian Prudential Regulation Authority (APRA) for a restricted banking license through its subsidiary Novatti IBA Pty Ltd. Featured image credit: 29 Applicants to bid for 5 digital banking licenses in Malaysia, with national cooperatives group joining in"}, {"url": "https://technode.global/2021/10/11/malaysia-based-solarvest-launches-startup-program-focuses-on-re-green-tech-fintech/", "page": 68, "title": "Malaysia-based Solarvest launches startup program focusing on RE, green tech, FinTech", "contents": "Malaysia-listed solar energy firm \u201cThrough SIL 2021, we are excited to unearth like-minded start-ups with transformational ideas that could potentially spark exponential growth to the RE and FinTech industries,\u201d Solarvest Group Chief Executive Officer Davis Chong Chun Shiong said. \u201cWe believe startups can play an important role in the advancement of not just the RE and FinTech industries, but the economy as a whole. They are usually the ones that come up with game-changing ideas, however, the lack of financial resources and business knowledge typically are barriers to them from making the next leap,\u201d he said. \u201cSIL 2021 is able to create an ecosystem where both Solarvest and the start-ups could form a symbiotic relationship. Given our expansive track record, having built well over 400 megawatts peak worth of solar projects and with more in the pipeline, startups with value-adding solutions could potentially leverage our scale. On the other hand, by investing in these pioneering green technologies, this could lead to us solidifying our market-leading position further,\u201d he added. The start-up program is split into two rounds of funding namely, seed funding and accelerator funding. The seed funding round is aimed at start-ups with business ideas that are yet to be commercialized. Successful new ventures will receive a seed fund amounting to 10,000 MYR ($2,398) to prove a concept within six months. To bring them up to speed, SIL 2021 will also be providing, amongst others, special business workshops, business coaching, and physical workplaces. Once an idea has been proven viable, the candidate is eligible to participate in a subsequent pitch to potentially receive an accelerator fund of 100,000 MYR ($23,982) in exchange for a certain percentage of ownership in the company. Businesses that already have a proof of concept can bypass the seed funding round to apply for the accelerator fund directly. Benefits-in-kind similar to the preceding round will be offered with the objective of idea implementation and bringing the product or service to market within a timeframe of 12 months. On top of that, Solarvest will assist in further fundraising and other grant applications that are relevant and help the company get connected by leveraging its extensive business network. Solarvest is partnering with the likes of Malaysian Technology Development Corporation, government-linked telco Telekom Malaysia Bhd, government agency Malaysia Global Innovation and Creativity Center (MaGIC), OCBC Bank (Malaysia) Bhd, INTI International University and Colleges, Junior Chamber International Malaysia, JCI Creative Young Entrepreneurs Award, and others to accelerate the nation\u2019s green agenda and digital revolution through the search for bright and innovative ideas from budding startups. Solarvest will be joining Malaysian corporations such as oil and gas giant Petroliam Nasional Bhd (Petronas), and conglomerate Sunway Group, which have started to invest and nurture local startups through their corporate venture arms and accelerator programs. Solarvest noted that Malaysia\u2019s clean energy adoption has seen a tremendous rise over the years, locking in a cumulative average growth rate of 50 percent between 2015 and 2019. Moving forward, the RE sector is projected to continue its upward trajectory with the Government\u2019s goal of a carbon-neutral Malaysia by 2050. Meanwhile, Malaysia\u2019s Fintech industry is also on the verge of a big breakthrough with the heavily anticipated approval of digital banking licenses in 2022. Sunway iLabs announces top 5 startups for its 2021 Super Accelerator program"}, {"url": "https://technode.global/2021/10/08/malaysia-central-bank-working-with-relevant-authorities-to-address-concerns-on-bnpl/", "page": 68, "title": "Bank Negara Malaysia working with \u2018relevant authorities\u2019 to address concerns over BNPL", "contents": "Malaysia central bank said on Thursday it is working with relevant authorities and others to address growing concerns related to buy now, pay later (BNPL) schemes. \u201cWhile the BNPL schemes do not currently fall within the purview of Bank Negara Malaysia, we are working with the relevant authorities and others to address growing concerns that such schemes may encourage you to spend on borrowed money that you may not be able to repay,\u201d Meanwhile, it is important for individuals to understand the terms and conditions of the BNPL schemes, and to not take debt that they cannot afford, the regulator warned. Bank Negara noted that BNPL is typically marketed as \u201cno interest\u201d but includes charges that can quickly add up (e. g processing or late payment fees). The regulator also reminded the public to pay installments in full and on time to avoid penalties and keep track of their BNPL commitments \u201cas it is easy to overspend. \u201dSoutheast Asia super app The central bank also told that the public that if they are in need of financial advice, they can engage the Credit Counselling and Debt Management Agency (AKPK), an agency set up by Bank Negara to help individuals take control of their financial situation. Bank Negara\u2019s post, which is also published on its Facebook page, came after news that Singapore is assessing if a regulatory framework is needed to guide the BNPL services. The Monetary Authority of Singapore (MAS) is assessing if a regulatory framework is needed to guide such payment services as they become more widely used, although BNPL schemes do not pose a significant risk to household debt at the moment, This includes the adoption of fair dealing practices by BNPL providers, said Singapore Senior Minister and MAS chairman Tharman Shanmugaratnam on Tuesday (Oct 5). \u201cFor instance, clear disclosure at the point of account opening is helpful in ensuring that consumers are fully aware of the late fees chargeable if they do not pay on time,\u201d he was quoted as saying. MAS has been engaging BNPL providers while reviewing the experience in other jurisdictions where such schemes are more prevalent, he said, responding to parliamentary questions who asked about the progress of the central bank\u2019s review of these schemes. BNPL payment options allow individuals to make a purchase and pay for it later over a period of time. Interest-free installments are not a new concept, but BNPL services allow users to split the cost for small-ticket items. It started to gain traction in Singapore, Malaysia, and Indonesia as more BNPL startups and tech giants such as ride-hailing and FinTech unicorn Grab and e-commerce platform Shopee offering the service, following similar trends in UK, Europe, Australia, among others. Traditional payment giants such as Visa and Mastercard are also offering similar options, earlier reports showed. The scheme, however, has stirred concerns among regulators that it could cause youngsters, who are often seen as financially naive, to overspend and be lured into debt traps. The global BNPL market is on a rapid uptrend and is projected to surge 400 percent to $352 billion by 2025 from $89 billion in 2020. The BNPL sector is estimated to process $680 billion worth of transactions in 2025, translating to a compound annual growth rate of 13.23 percent, according to research data analyzed and published by online trading portal Comprar Acciones in February. Featured image credit: Bank Negara MalaysiaChallenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia"}, {"url": "https://technode.global/2021/10/06/malaysia-telemedicine-doc2us-expands-to-myanmar/", "page": 68, "title": "Malaysia-based telemedicine firm DOC2US expands to Myanmar", "contents": "Malaysia-based telemedicine provider HOPE Telecare, Myanmar\u2019s latest all-in-one digital healthcare platform, is a joint venture between Myanmar\u2019s Blue Ocean Investment Ltd, TELEMED Company Ltd, and homegrown DOC2US, owned by Heydoc International Sdn Bhd. \u201cThis joint venture is the first step for DOC2US to extend our locally developed technology and healthcare solution to countries beyond Malaysia. By replicating DOC2US\u2019 existing proven system and business model with \u2018hyper-localized\u2019 elements, together with our partners, we aim to complement the physical healthcare ecosystem in Myanmar by freeing up physical medical resources to those who need it,\u201d DOC2US Chief Executive Officer Dr. Raymond Choy said in a statement. With the number of COVID-19 cases continuing to rise in Myanmar, more state resources need to be channeled to combat the infection spread. The JV had earlier called for volunteer doctors to join its virtual health advisory task force to reduce the burden on the public healthcare system. The service would allow the general public to obtain virtual medical consultations for free. \u201cAbout 70 percent of our close to 55 million population is living in the rural area where doctors are not easily found, while our internet penetration rate is growing at more than 10 percent year-on-year from the current 43 percent, we believe telemedicine is the way forward to improve the quality of care in the country,\u201d HOPE Telecare Chairman Htun Htun Naing said. In partnership with Microsoft, DOC2US is leveraging on Microsoft\u2019s Azure cloud platform for better flexibility and scalability. DOC2US also provides HOPE a robust backend system that runs and supports the digital healthcare platform to the frontend where users connect with healthcare professionals and get important health tips and other information. For the upcoming phases, DOC2US will be incorporating its blockchain technology in electronic health records, artificial intelligence, and digital signature system to further enhance HOPE\u2019s offerings. \u201cWith the successful rollout in Myanmar, we are actively talking to other partners in our neighboring countries such as Cambodia, Laos, and Vietnam to improve the accessibility to healthcare in those countries. Nevertheless, we are also putting more resources in Malaysia to grow the market share and establish a better ecosystem in Southeast Asia with our strategic partners,\u201d Choy said. DOC2US is the electronic prescription (e-prescription) telemedicine provider in Malaysia. Leveraging cloud computing technology, it provides scalable and seamless remote healthcare services to consumers, patients, corporate clients, healthcare providers, and healthcare fraternity-like clinics, and pharmacies. Telehealth and online pharmacies are leading the growth in the healthcare industry, says Doctor Anywhere\u2019s Lim Wai Mun [Q&A]"}, {"url": "https://technode.global/2021/10/05/rhl-ventures-hibiscus-fund-targets-final-close-of-up-to-100m-eyes-opportunities-in-food-healthcare-mobility-sectors/", "page": 68, "title": "RHL Ventures\u2019 Hibiscus Fund targets final close of up to $100M, eyes opportunities in food, healthcare & mobility sectors", "contents": "RHL Ventures, which has been selected by the Malaysian government for its The Hibiscus Fund is a venture capital fund managed by RHL Ventures and \u201cInitially, we targeted $50 million as the fund size and we wanted to target a bigger close if we have demand for it. Over the past few months, there was strong interest in the fund, in getting exposure to Malaysia and the Penjana Kapital program,\u201d RHL Ventures Co-founder and Co-Managing Partner Raja Hamzah Abidin said. \u201cWe\u2019ve done the first close of $50 million and we are targeting a final close at $80 million to $100 million. \u201dWhile the fund is sector agnostic, allowing it to take opportunities from various sectors, the firm has narrowed down to three sectors it focuses on\u2013food, healthcare, and mobility, he added. \u201cThere are three main themes that we see into the future. The first is the future of food, whether it\u2019s alternative proteins, distribution, and supply chain-related. Cloud kitchens and deliveries also come into play,\u201d Hamzah told Given the scarcity of resources and based on the technology trends, he said the type of food to be consumed will be different. \u201cFood will be consumed in a very different way from the past. \u201dHamzah said being in Malaysia has a clear advantage in developing the food sector as the country has good space for manufacturing and has developed proper supply chain infrastructure. \u201cThe story is not only for the next few years but for the next 10 to 20 years. Malaysia can be a key hub,\u201d he said. On healthcare, Hamzah said RHL Ventures have completed a few investments in the sector including Malaysia-based digital health startup \u201cThey have been successful, using Malaysia as a base. Malaysia has a deep, healthcare system, especially in the private sector. You see the likes of IHH Healthcare, Columbia Asia (backed by alternative firm TPG). There\u2019s a lot of private sector appreciation of healthcare opportunities. It\u2019s the same in the startup space,\u201d he said. Another sector that RHL Ventures will look for opportunities is in the mobility space. \u201cThe Hibiscus Fund is about 20 percent deployed. \u201cMaybe by the end of the year, we\u2019ll be 30 to 40 percent deployed. And then next year, we will slow down slightly, depending on where we see opportunities,\u201d Hamzah shared. \u201cWe are in the midst of closing a few deals, one deal is in the cloud kitchen space. We are looking at a Malaysian deal in the FinTech space, another Malaysian deal in the supply chain space. We are actually committed to do another five investments,\u201d he said. Asked about the cheque sizes for the Hibiscus Fund, Hamzah said it is flexible, ranging between $500,000 to a maximum of $5 million per check. \u201cIf we are bullish, we could go higher and vice-versa,\u201d he shared. The Hibiscus Fund is RHL Ventures\u2019 second fund. Its first fund, which was reportedly at $26 million, has already been fully deployed. Its The DPN program has managed to raise 850 million ringgit ($203.67 million) for its first close at end-May. Of the total raised, over 55 percent was from foreign investors, including from Hong Kong, South Korea, and Singapore. Out of the eight approved foreign VC fund managers and their Malaysian partners selected as part of the DPN program, three have successfully reached their final close target ahead of the deadline. DPN aims to bridge the funding gap by incentivizing private capital to facilitate the growth of start-ups and create an enabling environment for these start-ups to scale and internationalize. Beyond being a vehicle to attract foreign capital to Malaysia, it is also a crucial lifeline for start-ups. \u201cThe program enables us to bring in some strong, blue-chip investors that normally wouldn\u2019t look at Malaysia yet. Now with this program, the value of some of the startups has magnified, and the flow of capital will improve. In fact, we have already seen improvement. It will improve in the next six to 12 months,\u201d Hamzah said. Based in Malaysia, RHL Ventures is a multi-family private investment firm focusing on Southeast Asia. Founded in 2016, the firm is currently led by Rachel Lau, Hamzah, and Jo Jo Kong. The firm typically invests in early stages companies (Series A/B fundraises) and it also participates in later-stage rounds. Besides Southeast Asia, it also invests opportunistically in other regions. The investment firm has attracted attention when it was first set up, mainly due to the family background of its partners and the advisors it managed to put together. Lau is the daughter of the late property tycoon Lau Boon Ann, who was a non-executive director at Malaysia-based On top of the network and family background, the partners also have experiences in investment management as well as the operations of businesses, among others. RHL Ventures\u2019 advisors include Raja Nong Chik, David Kong, Top Glove founder and chairman Lim Wee Chai, Khazanah Nasional board member Zainal Abidin Putih, Swiss-based private equity firm Partners Group Asia Chairman Kevin Lu, Deutsche Bank Managing Director Marlon Sanchez, among others. Hamzah said the firm does have a holding period of three to five years for its investments. \u201cOur target IRR (internal rate of return) is 25 percent. So it\u2019s 3x on our deals. We have a seven-year fund line. That\u2019s the broad parameters,\u201d he said. The firm may look to exit after three years, but in general, it has a holding period of three to five years, slightly shorter than a typical venture capital fund. \u201cWe cannot go in super early because I need to come out after year seven,\u201d he said. \u201cSecondaries are a lot more liquid compared to a few years ago. So I\u2019m not too worried about exits. \u201dCommenting on which are the areas Malaysian startups could improve, Hamzah pointed out that local startups are still poor in marketing and public relations, which is important to get traction and to get the right investors on board. \u201cThere should be a more concerted effort by all parties to sell the story when we have good achievement. In fact, there are a lot of positive stories coming from Malaysia [despite earlier Hamzah opined that the Malaysian startup ecosystem should also tap more into public-private partnerships. \u201cA key to any good startup is how do you grow quickly through partnerships, whether it is a partnership with corporations or partnership with the public sector. We\u2019ve been slow to embrace that. Corporate and startups should be working hand in hand, coming in as partners rather than competitors,\u201d he said. \u201cOur corporate ecosystem has also been slow to embrace that. But now with COVID-19, everyone is more open to partnerships. There\u2019s a golden opportunity for corporations to step up,\u201d he said, adding that he noticed there is more corporate interests than before seen during investors\u2019 briefings. Hamzah said startups also need to realize that they will need to \u201cgrow some scale\u201d before they can justify their valuations accordingly. \u201cBeing a Malaysia-only company limits you in terms of valuation upside. You do need to find a way to sell a regional story. It doesn\u2019t need to be now but there has to be in the short to medium term,\u201d he said. Malaysia\u2019s private equity and venture capital markets have been lagging as compared to its peers. According to This was despite a jump in the number of deals. Malaysia registered 79 deals in total in 2020, more than double the 36 inked in the previous year. In comparison, Singapore recorded 280 deals with a combined value of $3.66 billion, followed by Indonesia with 134 deals and $3.37 billion in total funds raised. Hamza noted that Malaysia has yet to see agri-fishery startups such as aquaculture tech platform \u201cGiven that we have sea around us, there must be some space that we can do that, whether it\u2019s lending to scale up small agricultural farms, small fish farms to maybe some technology that helps with tracking and production,\u201d he said. Malaysian companies should also leverage the country\u2019s manufacturing sector and find business opportunities such as selling products directly to consumers through online platforms, Hamzah opined, taking a cue from the sterling performance of portfolio company \u201cMalaysia does have a good manufacturing sector, whether it\u2019s OEM (original equipment manufacturer) base for food or electronics products. It\u2019s not really a tech play. But I think that there\u2019s a way to lay on tech and sell it directly,\u201d he said. Political uncertainties in Malaysia seen as \u2018short-term risks\u2019, say tech investors"}, {"url": "https://technode.global/2021/10/04/malaysia-based-payhalal-partners-atome-to-offer-shariah-compliant-bnpl-options-in-malaysia-indonesia/", "page": 68, "title": "Malaysia-based PayHalal partners Atome to offer \u2018Shariah-compliant\u2019 BNPL options in Malaysia, Indonesia", "contents": "Malaysia-based Shariah-compliant payment firm The COVID-19 pandemic has accelerated the shift for Malaysian shoppers to adopt digital payment options. By partnering Atome to introduce iBNPL across PayHalal\u2019s merchant touchpoints, shoppers will now have access to a flexible, convenient, and secure payment option that allows them to split their purchases into three zero-interest deferred payments, with no annual or servicing fees, PayHalal said in a statement on Friday. This further enhances the shopping and payment experience of shoppers and supports Muslim retailers and businesses with increased sales amid the pandemic. \u201cThe pandemic-driven shift towards online shopping has created an urgent need for Muslim retailers and businesses to improve and enhance the e-commerce user experience. This partnership with Atome will broaden the payment experience across thousands of point-of-sale checkouts, with the right assortment of payment options, throughout PayHalal\u2019s merchant network,\u201d PayHalal acting Chief Executive Officer Muhammad Sulwan Mohamed Subhan said. The announcement came as BNPL has been gaining traction across many countries where FinTech startups, retailers such as Walmart, Apple, and Shopee, payment giants including Visa and Mastercard started plans to offer pay later options to their customers. \u201cWe are excited to partner PayHalal to expand seamless Murabaha buy now pay later acceptance first in Malaysia before rolling out in Indonesia in the coming months. This partnership will enable Muslim retailers and businesses to provide a seamless and superior checkout experience for their consumers as we emerge from the Covid-19 pandemic,\u201d said Atome CEO David Chen. Launched in 2018, PayHalal is the world\u2019s first Shariah-compliant (Islamic) payment gateway. PayHalal is the trade name of Souqa Fintech, the world\u2019s first Syariah-compliant merchant acquirer and Islamic financial technology provider which aims to help Muslim entrepreneurs and customers comply with the Shariah law in trade, without any apprehension (was-was). Singapore-based Atome is a buy now pay later platform in Asia. It currently partners with over 5,000 online and offline retailers in nine markets including Singapore, Indonesia, Malaysia, Hong Kong, Taiwan, Vietnam, Philippines, Thailand, and mainland China. Atome is part of the Series-D funded Advance Intelligence Group. Founded in 2016, the group is headquartered in Singapore and has a presence across South and Southeast Asia, Latin America, and Greater China. Featured image credit: PayHalalChallenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia"}, {"url": "https://technode.global/2021/09/29/rodeo-is-building-brand-journeys-and-revolutionizing-transit-advertising-with-analytics-qa-with-valens-subramaniam/", "page": 69, "title": "Rodeo is building brand journeys and revolutionizing transit advertising with analytics [Q&A with Valens Subramaniam]", "contents": "The advertising industry was one of the first to suffer the effects of the widespread COVID pandemic last year, with 2020 being the most \u2018With the majority of people working from home, it is no wonder that public transportation and out-of-home advertising budgets were slashed dramatically. RodeoThe results have been instantaneous: Rodeo not only held strong with 150,000 to 200,000 MYR ($35,800-$47,800) net profits per year in distinctly windy conditions, it has now recorded total revenue of 6.8 million MYR over its four years of operation. Today, the AdTech company\u2013with just 10 staff\u2013boasts a fleet of 10,000 cars nationwide. The startup\u2019s ability to successfully marry data analytics with production house capabilities has drawn customers such as Alibaba and AirAsia Ride, and saw Rodeo raise Valens tells Initially, I decided not to raise funds or approach any angel investors. We would be getting questions about traction, profitability, and growth prospects\u2013I needed to be satisfied with my own answers, before asking for someone else\u2019s money. If you can\u2019t justify the business to yourself, how can you justify it to others?So I took my time to build the business first, then once we were ready, everything fell into place. Our initial paid-up capital was just 10,000 MYR ($2,400). Thereafter, Rodeo grew organically, recording 6.8 million MYR ($1.63 million) over four years. Now our valuation has reached 10 million MYR ($2.39 million), and it\u2019s time for us to start running. For that, we needed an injection and so we went live on pitchIN last October. Being a sales and marketing guy, I looked at pitchIN from that perspective. Crowdfunding wasn\u2019t just about raising money, it also built our access to networks. To date, we have onboarded 85 investors, with some of them being angel investors. I also converted some of them into clients and they\u2019re now advertising on our platform. I basically killed two birds with one stone. Via pitchIN, we secured angel investors including Aerodyne founder and group CEO Kamarul A Muhamed, Zypp co-founder and CEO Akash Gupta, VJ Anand (ex-senior VP of Creative, Gojek), Fave co-founder Chen Chow Yeoh, Amardeep Singh Walia (ex-Foodpanda, Ninja Van and OYO), Enviroverks group CEO Nitesh Malani, serial investor Saran Chandran, and Tune Protect CEO Rohit Nambiar. These are all fellow entrepreneurs, startup founders, or SME owners, so they understood Rodeo\u2019s trajectory and vision and they\u2019ve been helping build Rodeo\u2019s network. They have seen enough in the industry, how the market reacts, the demand, and the space we are in. In Indonesia, two investors who were formerly with Gojek are helping me to grow Rodeo\u2019s footprint. With Kamarul, we will be exploring partnerships and synergy where Rodeo teams up with Aerodyne in terms of technology, or even ad space. Being a small startup, this network will be vital in leading us to open up more secondary markets outside Malaysia. When I went live on pitchIN, many people told me it was the wrong time to raise funds. Well, there is no bad time, a good time. Business has to move on. If you\u2019re knocking on the right door, the door will eventually open. It\u2019s just a matter of pitching to the person and how you relate your story to them. We\u2019re not just selling a dream, we\u2019re selling our journey, and over the past four years, it has been a successful one. It\u2019s a no-brainer. We\u2019re a small yet profitable startup. We\u2019re not losing or burning money. We started to go live in October last year, and for the first three months, it was a big struggle because it\u2019s a learning process. Eventually I started targeting the right investors who can relate to our story, who feel that the demand is there. That\u2019s where Kamarul and the Gojek guys came in. During the pandemic, there were not many cars on the road, so advertisers held back on spending. We launched two products: Rodeo Moto and Rodeo Home. For Rodeo Moto, we monetized the food delivery bags, covering them with ads. We pitched this idea to Honda Boon Siew (distributor of Honda motorcycles in Malaysia), and they jumped on the opportunity earlier this year. Thus far, we\u2019ve rolled out campaigns with them in Kuala Lumpur and Penang and may roll out another as they start planning for the next quarter. Advertising on delivery bags is cheaper and cost-effective while creating an additional income stream for riders. Before this, only e-hailing drivers could make money. Now even delivery riders can earn additional income from our ads. We work directly with riders on this. In April, we launched ads in elevators, targeting condominiums and we called it Rodeo Home. Today, we have secured almost 100 condos. Even though most people are working from home, they still have to come down to the lobby to collect their food or throw their rubbish. No one skips the elevator. A person or household will ride their condo elevators two to four times a day, so we saw an opportunity to bring brands to households. When they take the elevator out for their grocery runs or to sundry shops, it helps create impulse buys. Rodeo Home also creates a customer journey as 60-70 percent of people who use ridesharing services stay in condominiums. If someone lives at a condo with Rodeo-installed ads and then takes a Grab or taxi ride with Rodeo ads, there\u2019s a continuation in that journey both inside and outside. We started with AirAsia Ride in August. Being in the advertising industry for some time, we have domain expertise that AirAsia Ride can leverage on. Rodeo\u2019s strength lies on the production side, and in our creativity. One of (AirAsia group CEO) Tony Fernandes\u2019 Instagram posts about AirAsia Ride actually showcased We are working with AirAsia Ride as a production house, bringing our ads and doing creative execution for them. There\u2019s also now the potential to expand to other services in the super app, i. e. , AirAsia Grocer and AirAsia Food. They\u2019ve also launched in Langkawi since the travel bubble began there. Advertising has always been competitive, so we constantly need to up our game. On the surface, what we do in transit advertising looks very traditional because all you see is us placing a decal on a car. But at the back end, we are changing the entire landscape of transit advertising, making it more digital. If you place ads on a particular car, I will tell you exactly where your ad has been seen, how the car has performed, how many kilometers it has traveled, what hours it was driven around, and at what time your ads were seen. Rodeo acts like Google Analytics for transit advertising because at the end of the day, it\u2019s data that will support media buys. We are also rolling out self-service dashboards for advertisers, so they can log onto their web-based dashboards and monitor ad views directly. They know exactly how successful their campaigns are and where their assets have been seen, and so on. In terms of driver recruitment, driver placement is completely app-driven. Rodeo uses a combination of app and web services. Since day one, we\u2019ve worked directly with drivers and riders. We never want to associate with any company for the vendor, because we want to be seen as an independent company. Being independent gives us the liberty of disrupting others. For example, we liaise directly with GrabCar drivers so theoretically I could put Foodpanda ads on a GrabCar. We haven\u2019t spent one cent to recruit riders and drivers. Who doesn\u2019t want to earn additional income? When we advertise campaigns or projects via social media \u2013 primarily Facebook \u2013 drivers fall in place automatically, organically. We have already established a company in India, where we work with Zypp, an electric vehicle company that leases e-bikes to food deliveries and ride-sharing riders. Zypp\u2019s Akash Gupta was one of the angel investors who backed our crowdfunding campaign. We were supposed to launch in India last year but had to postpone it due to COVID. Besides India, I\u2019m also exploring Australia, where we might work with one of the fastest and largest food delivery companies there. Lastly, in Indonesia, with the Gojek guys. We\u2019re planning to launch in India in Q4 2021, and Indonesia and Australia in Q1 2022. No, this is an existing client who wants to award us a contract to execute a campaign in Australia, hence the urgency to launch. That\u2019s a good opportunity because there are not many competitors or players with similar offerings\u2013it\u2019s the same scenario as Malaysia. We went for crowdfunding for three purposes: networking and market expansions, but also tech investments. We never want to be seen as just branding on a car. We are more holistic, 360-degrees when it comes to transit. Prior to funding, our tech had a pretty vanilla flavor. Now we can do strawberry and chocolate flavors as well. This funding will allow us to execute all these plans. We are looking at Q2 2022 for a pre-Series A round. By then, we could be pitching to VCs. Even now we have a few VCs looking into our portfolio. Before we went to pitchIN, whenever we approached VCs, they never gave us a second look. Now that we\u2019ve got Kamarul and the former Gojek guys in our corner, we\u2019re seen, we\u2019ve got VCs\u2019 attention. Globe is capitalizing on its 80M+ customer base and 150K+ enterprise partners in venture building through 917Ventures [Q&A with Natasha Dawn Bautista]"}, {"url": "https://technode.global/2021/09/29/malaysia-insurtech-firm-policystreet-com-raises-6m-in-series-a-receives-in-principle-approval-for-reinsurance-general-insurance-license/", "page": 69, "title": "Malaysia InsurTech firm PolicyStreet.com raises $6M in Series A, receives in-principle approval for reinsurance & general insurance license", "contents": "Malaysia-based InsurTech startup The latest round is led by Altara Ventures, Auspac Ventures, Gobi Partners and the Leong family of Malaysia-based property developer \u201cWe are excited to introduce new sachet-based and on-demand insurance products with our new license to power up the digital ecosystem while continuing to provide value to all our existing customers in Southeast Asia. With a very seasoned and experienced team of investor partners, PolicyStreet. com is convinced that our new investors will be able to help us grow to be the leading InsurTech in the region,\u201d PolicyStreet. com Co-Founder and Chief Executive Officer Yen Ming Lee said. PolicyStreet. com also said it has secured in-principle approval for a combined Reinsurance and General Insurance license from the Labuan Financial Services Authority, the financial regulator for Labuan International Business and Financial Center in Malaysia. It is the second InsurTech to be granted this coveted insurance license. The license will allow PolicyStreet. com to underwrite reinsurance and general risks as it looks to expand its strategic partnerships and footprint in the region. Founded in January 2017 by former banking and insurance professionals Yen Ming Lee, Wilson Beh and Winnie Chua, PolicyStreet. com said it has changed the way insurance is marketed and sold, by making insurance simple, easy and affordable. In 2019, it was the only local InsurTech that received the Financial Adviser and Islamic Financial Adviser approval from the Central Bank of Malaysia, enabling it to work with 40 insurance and takaful providers in sourcing, aggregating, customizing and advising customers on the insurance products. The latest funding round follows a series of strategic partnerships PolicyStreet. com recently announced with With the new round of funding, the company aims to expand into new markets in the region, while doubling down on its technological capabilities and marketing efforts to address protection gaps and provide more insurance products. PolicyStreet. com has raised an earlier round via PitchIN, KK Fund, and Spiral Ventures during the height of the COVID- 19 crisis in June last year, the largest amount raised from an equity crowdfunding platform in Malaysia. Today, PolicyStreet. com said InsurTech serves not just end-users but also businesses in providing customized employee benefits, building, and group personal accident insurance. Its business clientele includes small to large corporates and technology companies. PolicyStreet. com currently works directly with 40 life and general insurance and takaful providers in Malaysia offering various insurance products and services. AirAsia partners with InsurTech startup PolicyStreet to provide digital car insurance serviceFeatured image credits: "}, {"url": "https://technode.global/2021/09/27/malaysia-singapore-to-link-real-time-payment-systems-in-q4-2022/", "page": 69, "title": "Malaysia & Singapore to link real-time payment systems in Q4 2022", "contents": "Bank Negara MalaysiaThe first phase of the DuitNow-PayNow linkage will be launched in the fourth quarter of 2022 and will allow customers of participating financial institutions to make real-time fund transfers between Malaysia and Singapore using just a mobile number, the central banks said in a joint statement. Customers will also be able to make retail payments by scanning DuitNow or NETS QR codes displayed at merchants\u2019 storefronts. The project will enable more seamless payments for the high volume of remittances between Malaysia and Singapore, which reached 4.2 billion MYR ($1 billion) in 2020. It will also cater to travelers between both countries, which saw sizeable pre-pandemic traffic of about 12 million arrivals yearly on average. \u201cBy bringing the efficiencies observed in domestic payments to cross-border payments, the DuitNow-PayNow linkage will be a game-changer resulting in faster, cheaper, and more accessible payment services for the people of both countries. Not only would this initiative further strengthen the economic ties between Malaysia and Singapore, it would also serve as a key enabler to support post-pandemic economic growth,\u201d Fraziali Ismail, the Assistant Governor of BNM said. Following the launch, BNM and MAS will progressively expand the DuitNow-PayNow linkage to incorporate a wider range of features and participants. Both regulators will also explore the feasibility of integrating innovative features such as distributed ledger technology-based solutions to catalyze greater efficiencies in payments clearing and settlement between participating banks. The DuitNow-PayNow linkage represents another significant milestone in the history of close ties between Malaysia and Singapore. The linkage closely aligns with the G20\u2019s work of driving faster, cheaper, more inclusive, and more transparent cross-border payments, and is a concrete step towards achieving an ASEAN network of linked real-time payment systems. \u201cFor Singapore, the remittance corridor with Malaysia is our largest remittance corridor; hence, the DuitNow-PayNow linkage will be an important infrastructure to support cross-border payment needs of individuals and businesses, as well as the growing digital economic activity between both countries. This will further enhance close bilateral ties,\u201d MAS Chief FinTech Officer Sopnendu Mohanty said. Central banks of Australia, Malaysia, Singapore, South Africa to test central bank digital currencies for international settlements"}, {"url": "https://technode.global/2021/09/24/seas-shopee-launches-food-delivery-service-in-malaysia-rivalling-grabfood-foodpanda/", "page": 69, "title": "Sea\u2019s Shopee launches food delivery service in Malaysia rivalling GrabFood, Foodpanda", "contents": "Singapore-headquartered tech conglomerate The service, which will be rolled out in batches, will be made available to over 8 million Malaysians living in the Klang Valley starting Friday (Sept 24) offering access to a variety of eateries from popular joints such as A&W, Burger King, Nando\u2019s, Starbucks and Tealive as well as local street food stalls. \u201cWe are delighted to include food delivery as part of the Shopee experience. Malaysians can now shop for all their essentials online, enjoy entertainment on Shopee Live, play their favorite game on Shopee Prizes, and satisfy their cravings via the app,\u201d Shopee Chief Operating Officer Terence Pang said in a statement on Tuesday. \u201cThis new service will also enable food and beverage merchants to move online and reach out to more customers, driving long-term growth. We hope that our users and merchant partners will enjoy using ShopeeFood. We will continue to improve our platform and services to better serve the needs of everyone,\u201d he added. In Malaysia, ShopeeFood will be competing with other food delivery players including ride-hailing giant Grab\u2019s GrabFood and German-based Delivery Hero\u2019s subsidiary Foodpanda. Shopee\u2019s expansion into food delivery also came after Malaysia budget airlines AirAsia Group Bhd launched its food delivery services in May 2020. In August, AirAsia\u2019s logistics arm Teleport has acquired the Malaysian online food delivery platform The ongoing COVID-19 pandemic has boosted demand for food delivery services in Malaysia and across Southeast Asia as people are not allowed to dine-in or encouraged to order takeaway to contain the deadly coronavirus. AirAsia\u2019s logistics arm Teleport to acquire food delivery platform Delivereat for $9.8M"}, {"url": "https://technode.global/2021/09/22/malaysia-finance-minister-says-indonesian-fintech-unicorn-xendit-to-relocate-financial-hub-to-malaysia-report/", "page": 69, "title": "Malaysia finance minister says Indonesian FinTech unicorn Xendit to relocate financial hub to Malaysia \u2013 report", "contents": "Indonesia-based FinTech firm Xendit, which has reached unicorn status last week, is said to be relocating its financial hub to Malaysia. The announcement was made by Malaysia Finance Minister Zafrul Abdul Aziz, Xendit, a FintTech unicorn, will relocate its financial hub to Malaysia, he was quoted as saying. No details of the investment amount were shared. The government\u2019s venture capital investment fund, Penjana Kapital, was set up as a matching fund-of-funds program. Penjana Kapital has raised 850 million MYR ($202.96 million) for its first fund close at the end of May, according to a statement in June. Xendit\u2019s corporate communications team has yet to respond to Last Tuesday (September 15), Xendit announced a Xendit is a financial technology company that provides payment solutions and simplifies the payment process for businesses in Indonesia, the Philippines, and Southeast Asia, from small and medium businesses and e-commerce startups to large enterprises. Xendit enables businesses to accept payments, disburse payroll, run marketplaces and more, on an easy integration platform supported by 24/7 customer service. Xendit enables businesses to accept payments from direct debit, virtual accounts, credit and debit cards, eWallets, retail outlets, and online installments. The investment announcement also came as Malaysia aims to create a more conducive ecosystem for tech startups and wants to create more tech unicorns, competing with Singapore and Indonesia which saw more tech startups getting better funding access and reaching unicorn status. Earlier this month, Malaysia\u2019s Science, Technology and Innovation (MOSTI) Minister Dr. Adham Baba said the ministry aims to create five unicorn companies in the country in the next five years. He said the ministry had allocated 123 million MYR ($29.38 million) this year, to be channeled through several finance companies including the government-linked venture capital fund Malaysia Venture Capital Management (MAVCAP), for the development of unicorn companies. \u201cMAVCAP will be able to assist these start-up companies to grow further into international champions and expand technology in the country, indirectly creating more jobs,\u201d he was quoted as saying. MAVCAP is a venture capital fund company established in 2001 to develop the technology ecosystem in the country through investments in potential local and regional technology start-ups. Southeast Asia ride-hailing and payment decacorn Grab was founded in Malaysia in 2012 but has later moved its headquarters to Singapore in 2014. Singapore state investor Indonesia FinTech firm Xendit reaches unicorn status with $150M Series C led by Tiger Global ManagementFeatured image credit: "}, {"url": "https://technode.global/2021/09/22/malaysia-capital-market-regulator-reviews-spac-framework-report/", "page": 69, "title": "Malaysia capital market regulator reviews SPAC framework \u2013 report", "contents": "Malaysia securities regulator \u201cAgainst growing demand for such vehicles for high-growth companies, the current SPAC framework is being reviewed for greater efficiency,\u201d the regulator was quoted as saying, at the launch of its five-year capital market master plan. The development came after Singapore Exchange (SGX) SPACs, also known as blank cheque companies, are shell companies that list on stock exchanges raising money to then merge with an existing company, taking it public. The listing route typically offers strong valuations and shorter listing time frames than traditional IPOs. SPACs are not totally new to Malaysia. Malaysia\u2019s first SPAC was launched in June 2011 with the listing of Hibiscus Petroleum Bhd. This was followed by four more SPACs. There were no other SPAC listed on Malaysia\u2019s bourse after the fifth SPAC, Red Sena Bhd, which was listed in December 2015. Of the five SPACs listed, three had gone through the liquidation phase and monies were returned to shareholders. The SC said in March it was \u201ckeeping a close watch on all rising investment trends, including the increasing popularity of SPACs after the vehicles gained popularity in the US last year. \u201dStock exchanges in Hong Kong and Indonesia are also considering allowing SPACs to list as they hope to ride on the hottest fundraising trend in the US and become a listing venue for these blank-check companies. Tech unicorns in Southeast Asia including Singapore-based ride-hailing unicorn Grab have agreed in April to go public in the US via a In July, Southeast Asian online realty firm Investor interest, however, has seen subsided in recent months amid a US regulatory crackdown over their disclosures, lawsuits, and many cases of weak financial performance, Reuters reported last month. Singapore Exchange introduces SPAC listing framework"}, {"url": "https://technode.global/2021/09/20/socar-malaysia-raises-55m-in-series-b-funding-from-eastbridge-partners-sime-darby/", "page": 69, "title": "SOCAR Malaysia raises $55M in Series B funding from EastBridge Partners, Sime Darby", "contents": "Malaysia-based car-sharing platform SOCAR\u2013currently valued at $213 million\u2013will see both equity and capital injection from South Korea-based EastBridge Partners as well as an investment by Malaysian conglomerate This investment\u2013the first for both entities into SOCAR Malaysia\u2013takes SOCAR\u2019s financing tally to date to $73 million and serves to facilitate SOCAR\u2019s expansion of its multiflex mobility footprint in Southeast Asia. \u201cWe will utilize these funds to supercharge our vision of multiflex mobility and bring the convenience of car-sharing to more people across Southeast Asia. As countries move into new phases of post-Covid recovery, we are committed to using our TREVO platform to create more economic opportunities for car owners while leveraging the supply of vehicles on our platform to remind consumers what it\u2019s like to be free to travel again in the comfort of their own private space, in a vehicle of their choice,\u201d said SOCAR Mobility Malaysia Chief Executive Officer Leon Foong. The $55 million investment will be channeled towards continuous technological enhancements and investing in further trust and safety measures that will help improve the overall profitability of the business, the company said. SOCAR will also be looking at using its fleet expertise to introduce clean mobility to the masses and will be leveraging its peer-to-peer marketplace expertise to further empower fleet and private car communities across Southeast Asia via its EastBridge Partners\u2019 investment into SOCAR Mobility Malaysia aligns with its Korea+ core investment strategy that leverages EastBridge\u2019s Korea and Pan-Asia network, whereby investments are focused on companies with strong fundamentals, high growth potential, and global expansion prospects. In the wake of the pandemic, travel and commuting habits have evolved, where consumers want more freedom of choice and options in mobility. In response, SOCAR is stepping up offerings that optimize technology to break down barriers, including barriers to accessing safe and comfortable private vehicles as well as new earning opportunities, the company said. \u201cOnce we achieve our targeted liquidity level for the platform, we can then work with partners to offer users other ancillary services that car owners and drivers need such as insurance coverage. When access to a car becomes as easy as tapping a button on your mobile phone, SOCAR\u2019s position in the transportation ecosystem can transform the way people think about budgeting for mobility,\u201d Foong elaborated. SOCAR was first launched in Malaysia in January 2018 as a joint venture between TREVO, a wholly-owned subsidiary of SOCAR was launched at the end of February 2020, as an app-based P2P car-sharing marketplace. SOCAR is heralding a new era of multiflex mobility with over 2,200 cars in 36 different models in over 1,000 locations in Selangor, Kuala Lumpur, Penang, Johor, Ipoh, and Melaka offered on its SOCAR app. TREVO currently has close to 6,400 car listings in major cities on its app-based P2P car-sharing marketplace in Malaysia and Indonesia. Featured image credits: SOCARMalaysia\u2019s Carsome raises $200M in financing round, valuation hits $1.3B"}, {"url": "https://technode.global/2021/09/17/japan-egift-firm-giftee-invests-in-indonesian-customer-loyalty-platform-tada/", "page": 69, "title": "Japan eGift firm Giftee invests in Indonesian customer loyalty platform TADA", "contents": "Japan-headquartered eGift platform In addition, the company said Giftee\u2019s subsidiaries, Giftee Malaysia and Giftee Mekong have started a Business collaboration with TADA Network PTE in Malaysia and Vietnam in August 2021. \u201cTADA is one of the world\u2019s leading loyalty and rewards platforms, offering a wide range of features including subscription, membership, and referral. Through this capital and business alliance, we are very much looking forward to collaborating with TADA Network, mainly in the Southeast Asia region, by linking our eGift Platform Business, eGift Service, and TADA\u2019s platform,\u201d Giftee Chief Executive Officer Mutsumi Ota said in a statement. The investment into TADA Network marks Giftee\u2019s second major investment outside of Japan as part of its expansion in Southeast Asia. TADA Network will allocate the funds received through this investment to further functional enhancement of TADA, their end-to-end customer retention platform, as well as expanding markets in Southeast Asia. Both companies have agreed on a business alliance and started collaborating in Malaysia and Vietnam in August 2021. TADA is an end-to-end loyalty and rewards platform that enables businesses to build deep relationships with their customers, channels, and employees. TADA connects businesses to collaborate within its network. It is a universal solution that is integrated with other platforms to create an ecosystem around customer funnels and is already adopted by local as well as global enterprises. With over 400 clients, TADA is currently serving companies across rapid-growth industry verticals from banking, insurance, consumer goods, restaurants, among others. It has a portfolio of customers ranging across names such as AXA, Allianz, DBS, UOB, Castrol, Exxon, Kalbe Nutritionals, and Erha Dermatology, among many others. As the first step of the collaboration, Giftee said TADA\u2019s platform has been linked to the eGift Service of Giftee Malaysia and Giftee Mekong, providing new solutions that help improve customer loyalty for Giftee Malaysia and Giftee Mekong\u2019s customers. Giftee group will also expand its eGift Service and eGift Platform business in Southeast Asia beyond the Malaysian and Vietnam market in collaboration with TADA Network PTE. Founded in 2010, giftee Inc is a Japan headquartered eGift platform that provides a total end-to-end solution from e-gift issuance to distribution. The company was listed on the Tokyo Stock Exchange Mothers board in 2019 and transferred to the First Section of the Tokyo Stock Exchange in December 2020. In 2018, the company set up a subsidiary in Malaysia, Giftee Malaysia. In 2021, a new joint venture Giftee Mekong was incorporated between Giftee Malaysia and Mekong Communications Company in Vietnam. Featured image credits: TADAIndonesia wealth tech firm Pluang raises $55M round led by Square Peg"}, {"url": "https://technode.global/2021/09/15/malaysia-listed-payment-firm-ghl-teams-up-with-bnpl-startup-atome-to-expand-across-asean/", "page": 69, "title": "Malaysia-listed payment firm GHL teams up with BNPL startup Atome to expand across ASEAN", "contents": "Malaysia-listed payment solutions firm The group\u2019s payment touchpoints across these countries will now be able to offer Buy-Now-Pay-Later (BNPL) payment options to consumers, following the partnership. The GHL-Atome regional partnership enables more merchants across Malaysia, Thailand, Philippines, and Indonesia to offer BNPL payment options to consumers, and addresses increasing consumer demand for deferred payment methods. This alternative payment solution will enhance customers\u2019 shopping and payment experience, and at the same time, support local retailers and businesses across the region with increased sales amidst the retail crunch during the COVID-19 pandemic, GHL said. \u201cThe pandemic-driven shift to online shopping has created an urgent need to improve & boost the e-commerce customer experience. This partnership will broaden the payment experience across thousands of point-of-sale checkouts, with the right assortment of payment options, throughout GHL\u2019s vast merchant network in the region,\u201d GHL Group Chief Executive Officer Sean Hesh said in a statement on Tuesday. Offering consumers the option to spread their purchases into three easy monthly payments at zero interest, BNPL provides benefits that include: improving cash flow, increasing order value as well as promoting customer loyalty by making purchases more affordable, GHL said. In Malaysia and Singapore, merchants who opted for Atome\u2019s BNPL experienced an average 17 percent increase in their ticket order size. \u201cWe are excited to partner with GHL to expand seamless BNPL acceptance for online and offline merchants across the region. Our regional partnership will support merchants in enabling a superior shopping and checkout experience for consumers, both in-store and online websites, which in turn will accelerate merchant business growth and recovery as we emerge from the COVID-19 pandemic,\u201d said Atome Chief Executive Officer David Chen. The partnership comes as BNPL model has gained popularity in several regions globally including Southeast Asia. The ongoing pandemic has helped to accelerate the uptake of BNPL as commerce increasingly moves online and consumers look for alternatives to better manage their finances. The payment option enables consumers to avoid increasing credit card and other debts as many BNPL solutions offered are interest-free with no hidden costs. BNPL allows consumers to split the cost for smaller-ticket items. Listed in Malaysia since 2003, GHL operates in six countries including Malaysia, Philippines, Thailand, Indonesia, Singapore, and Australia\u2013stretching over a footprint of 383,600 payment touchpoints across the region. GHL prides itself as a one-stop provider for both offline and online e-payment solutions, with over 27 years of expertise. Founded in 2016, Atome is part of Challenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia"}, {"url": "https://technode.global/2021/09/14/malaysia-government-entities-magic-penjana-kapital-collaborate-to-offer-seed-stage-startups-better-funding-access/", "page": 69, "title": "Malaysian government entities MaGIC & Penjana Kapital collaborate to offer seed stage startups better funding access", "contents": "Two Malaysian government entities, In bridging the funding gap faced by start-ups, MaGIC will funnel its alumni, in particular seed-stage start-ups, to venture capitals (VCs) under the Dana Penjana Nasional (DPN) program, a government fund-matching initiative for venture capital firms. MaGic is a government agency under Science, Technology and Innovation Ministry. For seed stage, the VCs include \u201cBeing a key enabler to the ecosystem, we are aware of the challenges faced by start-ups as we regularly engage with them. We have always stressed the importance of capacity building, and we are happy to identify start-ups with potential and funnel them to Penjana Kapital and its partner VCs. Funding has always been a key challenge for start-ups to scale up, and we seek to bridge this gap via the DPN,\u201d said MaGIC Acting Acting Chief Executive Officer Amiruddin Abdul Shukor. The collaboration also comes as startups in Malaysia compete for funding with better-funded peers in the region in Singapore, Indonesia, and Vietnam. By bridging the funding gap, MaGIC and Penjana Kapital aspire to reorient private capital for innovative start-ups, attract global and regional VCs into Malaysia, as well as elevate knowledge transfer, talent development, and creation in the Malaysia ecosystem, MaGIC said in a statement on Monday. Administered by Penjana Kapital, the DPB program is part of the government\u2019s Short-Term Economic Recovery Plan (PENJANA), aiming at bridging the funding gap in the country by incentivizing private capital to facilitate the growth of start-ups and create an enabling environment for these start-ups to scale and expand their reach internationally. The government announced earlier it will match MHR 600 million ($144.16 million), on a 1:1 basis, of the funds raised by the VC fund managers from foreign and private domestic investors, with a target allocation of MYR 1.2 billion ($288.32 million). At its first close at end-May 2021, Penjana Kapital has raised 850 million ringgit, with more than half from foreign investors in Hong Kong, South Korea, and Singapore. MaGIC is one of the key ecosystem enablers in nurturing the growth of start-ups in Malaysia. The interventions that MaGIC offers revolve around capacity development, collaborative entrepreneurship, facilitating market and capital access to the start-ups. Since its commencement of operation in 2014, MaGIC\u2019s programs have impacted over 100,000 aspiring and seasonedPenjana Kapital Chief Investment Officer Taufiq Iskandar said the collaboration with MaGIC will boost DPN\u2019s objectives to overcome the innovation funding gap and accelerate Malaysia\u2019s economic recovery whose momentum has been derailed by a more persistent COVID-19 pandemic. \u201cMaGIC\u2019s experience in the start-up ecosystem, in particular tech start-ups, will help us in our quest to streamline the digitalization and automation of Malaysian businesses through innovation. We are aware that seed-stage start-ups face some funding challenges, and in collaboration with MaGIC, we believe we can help them overcome these,\u201d he said. ScaleUp Malaysia inks memorandum of cooperation with Technology Park Malaysia in strategic public-private partnership"}, {"url": "https://technode.global/2021/09/14/how-carsome-became-malaysias-largest-tech-unicorn-with-a-little-help-from-a-friend/", "page": 70, "title": "How Carsome became Malaysia\u2019s largest tech unicorn \u2013 with a little help from a friend", "contents": "Gobi Partners\u2019 continued faith and multiple investments into Carsome paved the way for the e-commerce platform to dominate Southeast Asia\u2019s used car scene, en route to becoming Malaysia\u2019s first and largest unicorn. TechNode Global spoke to Carsome Co-Founder and Group CEO Eric Cheng and Gobi Founding Partner Thomas G. Tsao to get the back story. Think used cars, think dingy dealerships, think clunkers and conmen. Pre-pandemic, 97 percent of the Southeast Asian market still looked like this\u2013with onlyCOVID-19 sounded the death knell for many industries that had been stuck in the old ways of doing business, forcing businesses\u2013including used car dealers\u2013online to survive. A year on, over Weaker new car sales caused by global supply chain disruptions, combined with users\u2019 discomfort with ridesharing and public transport, created perfect conditions for auto e-commerce marketplaces in Southeast Asia to rev up. Despite the slew of apps jostling for a piece of the growing used car pie, market leader In August, Carsome capped an already successful year with the acquisition of a 19.9 percent stake in Australian Securities Exchange-listed iCar Asia Ltd. This was quickly followed by aBut pulling off a massive vision requires equally large and constant backers. Since 2015, Carsome has successfully navigated the potholes of a growing startup and emerged with the checkered flag, with the help of its largest and most frequent backer, regional venture capital (VC) firm For Carsome co-founders Eric Cheng and Teoh Jiun Ee, the key to getting investors on board was convincing them that the much-maligned used car sector was ready for an upheaval. Cheng recounted, \u201cIn 2015, when I first met Thomas, Carsome was still fairly small, transacting less than 100 cars a month and operating out of a small office in Kelana Jaya. We started exploring the possibility of Gobi investing into Carsome almost immediately after the first meeting and were pleasantly surprised to find that they were extremely open-minded about the business, and bought into the vision of Carsome quite easily. \u201cI appreciate their open-mindedness because I was presenting the idea of Carsome to Gobi without a track record of previous successful ventures. We hit it off in the first meeting as Gobi resonated with our vision to digitize Southeast Asia\u2019s used car industry. This was then followed up with multiple site visits, management meetings and we ultimately closed the deal after Gobi completed due diligence to evaluate the company and team,\u201d he said. In May 2016, Gobi invested in Carsome via its ASEAN SuperSeed Fund, a joint venture between Gobi and the local VC Malaysia Venture Capital Management Bhd (MAVCAP), which is wholly owned by the Finance Ministry. With MYR 2 billion ($482.6 million) of assets under management as of October 2020, Tsao said, \u201cWhen we built our Southeast Asian headquarters in Malaysia, our partnership with MAVCAP paired with our 10-year experience investing in China, really helped us hit the ground running and lock on to high-potential startups like Carsome early on. \u201cGobi sees Malaysia as a super-connector, as its shared languages tie it to Indonesia, India, China, and Hong Kong. Meanwhile, its Commonwealth status and Muslim population translate well to both English-speaking countries and TaqwaTech, or the global Muslim economy. \u201cCarsome too is a super-connector with its team of diverse talents and capabilities. Today, it\u2019s the market leader in three of the four countries it operates in Indonesia, Thailand, and Malaysia,\u201d Tsao said. The Carsome-Gobi-MAVCAP collaboration was on display in recent days, when Cheng, Tsao, and MAVCAP chairman Alizakri Alias were pictured with the new Malaysian Science, Technology, and Innovation (MOSTI) Minister Adham Baba as he announced the ministry\u2019s goal to develop Carsome\u2019s rapid growth across the region and rollout of services took into account Gobi\u2019s experience investing in the auto sector in China, where the firm was established in 2002. \u201cGobi had some foresight on the development of the automotive ecosystem in Southeast Asia from their learnings in China. They guided us on growing the business, navigated us away from potential pitfalls, and introduced us to some of the leading players in China to facilitate knowledge sharing,\u201d Cheng said. Carsome started out as a price comparison site in 2015. Soon, it evolved to its now-dominant consumer-to-business (C2B) model that helped people sell their cars and dealers manage their inventories. Trust remained a key barrier in the early days, as both sellers (consumers) and buyers (used car dealers) were wary of the value they were getting without the traditional tire-kicking and driving \u2019round the block. Carsome addressed those concerns by introducing a standardized car inspection process as well as verifying auto dealers, in addition to faster turnaround times. Sellers could take Carsome\u2019s offered price or choose to put their cars for auction across Carsome\u2019s network of 13,000 certified dealers across the region. Cheng realized very quickly that dealers faced financing issues which affected how much inventory they could take in. That led to the establishment of Carsome Capital in 2018, to provide auto financing and insurance advisory and solutions. Soon after, Carsome partnered with peer-to-peer lender Funding Societies to offer financing solutions to its dealers, who are typically cash-strapped small businesses. The success of the Funding Societies partnership bred further collaborations with insurer Allianz, digital financial services provider Aspirasi, and CIMB Bank in Malaysia, and Muang Thai Insurance (via GettGo) in Thailand. \u201cAs Gobi is a full-stack investor, Carsome often works hand-in-hand with Thomas and his team to scale our business. This includes mapping out growth plans and our expansion into the ancillary business. Thomas and his team also provided ample networking opportunities which subsequently led to investment and collaboration opportunities,\u201d Cheng said. As Carsome grew from selling 1,000 cars in 2016 to 100,000 in 2021, these value-added services required more hands on deck to handle financing know-your-customer services, dealer relations, and inspections. That meant capital and new investment rounds. Between its establishment in 2015 and the latest deal, Carsome tapped the venture market for eight rounds of funding. Gobi has participated in six of the rounds. For Carsome\u2019s latest Series D2 round, existing investors include 500 Southeast Asia, Asia Partners, Daiwa PI Partners, MUFG Innovation Partners, and Ondine Capital. \u201cApart from being long-term and committed investors, Gobi accelerated some of our market expansion, especially in Malaysia through their direct relationship with the government-related agencies such as MAVCAP. Gobi also introduced us to multiple global peers that operate in the same business. These meetings helped facilitate regular engagement and knowledge exchange with fellow founders. \u201cThomas and the Gobi team are extremely supportive of our growth plans, geographical expansion and product roadmaps. They are a long-term investor of Carsome and have been investing in the company in every round since the first injection,\u201d Cheng said. Carsome has continuously invested these funds into strengthening its market presence in its four existing markets: Malaysia, Indonesia, Thailand, and Singapore. Cheng said, \u201cWe are investing significantly back into our products, infrastructure such as logistics and technology, to ensure our dealers and customers receive the best-in-class services and products. \u201cWe are focused on scaling our market leadership. Although we are already the largest platform in Southeast Asia, we are barely touching 1-2 percent of the total addressable market. We believe our scale, coupled with our technological offerings and strong brand equity will strengthen our market presence and position us to expand our leadership,\u201d he added. In August 2020, Carsome launched its business-to-consumer (B2C) arm, Carsome Certified, effectively sealing its status as Southeast Asia\u2019s largest integrated (C2B2C) car e-commerce platform. But the journey is far from over. Since its early dealer financing-related partnerships and services, Carsome set its sights on integrating the entire mobility ecosystem. The launch of This was followed quickly by its very own Just this week, Carsome group chief financial officer Juliet Zhu told TechNode Global that it plans to roll out The merger with iCarAsia, followed by the massive $170 million round, signals that Carsome is gearing up to take onIn recent weeks, these marketplaces have themselves been loading up on additional firepower: Cars24 recently Carvana, Cazoo, and Vroom are publicly traded and have received backing from investors such as PICO Venture Partners, Durable Capital Partners, T Rowe Price, L Catterton, dmg ventures, and General Catalyst. Carsome has made no secret of its goal to go public in the U. S. In June, Bloomberg reported that the Malaysian unicorn was seeking a Tsao said, \u201cCarsome is the undisputed leader of the Southeast Asian used car marketplace, with a strong presence in sports car sponsorship, skills training, data innovation, and after-sales services. Now, Carsome is looking beyond just used cars, to the entire mobility ecosystem. \u201dFragmentation and inefficiencies plague not just the used cars segment, but the entire auto industry. Already new car dealers are being migrated to an Uber may have started out in ridesharing and then food delivery, but the decacorn is now in freight as well. Gobi sees similar ambitions for Carsome. \u201cEnvision this: a one-stop center for all your auto needs. Whether you are buying a new or used car, or renting a car for a short trip, or even renting out your car on weekends like an auto AirBnB, Carsome would have it. \u201cCarsome already handles the entire car-selling process from C2B2C: validating specifications, inspection, financing, ownership transfer, insurance, warranty, after-sales service and auto skills training. What\u2019s stopping them from bringing these data and artificial intelligence-driven services to new cars or even self-driving vehicles? Soon, you won\u2019t need to go to different showrooms to view a Lexus or a Tesla, they\u2019ll all be under one hood \u2013 Carsome\u2019s,\u201d Tsao said. Unicorns-in-the-making: The underrated, untapped, and unknown of Malaysia\u2019s tech ecosystem"}, {"url": "https://technode.global/2021/09/14/ey-asia-pacific-ma-hit-highest-value-on-record-fuelled-by-technological-innovation-esg-agendas/", "page": 70, "title": "EY: Asia-Pacific M&A hit highest value on record, fuelled by technological innovation & ESG agendas", "contents": "Asia-Pacific mergers and acquisitions (M&A) activity hit an all-time high in the first six months of 2021 as markets begin to revive from the COVID- 19 pandemic. M&A values targeting the region increased to $535 billion, up from $284 billion in the same period last year, according to an analysis by Despite many parts of the global economy still operating under restrictions, cross-border transactions have also staged an impressive comeback, increasing by almost three times year-on-year to $159 billion, the multinational accounting and consulting firm said in a statement on Monday. There were more than 50 deals over $1 billion announced targeting Asia-Pacific so far this year, increasing by almost five times year-on-year. The \u201cThe pandemic has propelled innovation and significant business transformation across all industries. In the tech sphere, M&A activity in Asia-Pacific has been fueled by the emergence of next-gen technological applications, such as industrial Internet of Things (IoT), AI, electric vehicles, and sustainable, fuel-efficient technologies. For advanced manufacturers who pursued M&A, the primary activity has been bolt-on acquisitions in the same sector designed to increase market share or transformative deals that would enable a more sustainable business model,\u201d said EY Asia Pacific Strategy and Transactions Leader Yew-Poh Mak. \u201cConsolidation is a means for businesses to combine and complement their strengths to differentiate themselves and, in the technology sector, to focus more on a target\u2019s business resilience, digital technology alignment, and to gain market share,\u201d he added. Outbound value in Asia-Pacific rebounded to pre-COVID-19 levels to $85 billion. The inbound value reached a historical high at $74 billion, jumping by more than 170 percent compared to the pre-COVID-19 pandemic average. Like Asia-Pacific, the Americas and Europe have witnessed record growth, with transaction value totaling $1.6 trillion\u2013almost double the average seen in the five years prior to the pandemic \u2013 and $653 billion, respectively, EY said. \u201cWe expect to see M&A trends in Malaysia mirroring the trends seen globally, albeit lagging behind the recent pace seen in the larger markets. The COVID-19 pandemic has accelerated the need for Malaysian businesses to review and realign their strategy and formulate their transformation journeys for the future,\u201d Ernst & Young PLT Malaysia Strategy and Transactions Leader Preman Menon said. \u201cWhile plans and growth trajectory vary by sector, we observe common themes centering around transformation, agility, and sustainable growth. In line with this, we believe that M&A activity will feature as companies look to acquire technology and skillsets, favoring \u2018buy\u2019 versus \u2018build\u2019. \u201dM&A activity in the renewable energy sector almost tripled globally in the first half of 2021The value of these environmental, social, and governance (ESG)-related deals has jumped from $35.7 billion in the first half of 2020 (1H 2020) to $96.5 billion in 1H 2021. \u201cESG is increasingly becoming an integral part of investment decisions, with many CEOs and investors committing to adapt their current and future deal strategies with sustainability and long-term value creation at the forefront,\u201d EY Global Vice Chair \u2013 Strategy and Transactions Andrea Guerzoni said. Looking forward, the appetite for deals in Asia-Pacific is at its highest level since 2010, with almost 90 percent of companies in the region indicating that they are on the lookout for cross-border acquisitions in the next 12 months, according to the EY Capital Confidence Barometer. 65 percent globally are considering M&A within the same time frame. \u201cDigitalization remains paramount in Asia-Pacific and globally. Companies are actively putting customer expectations at the center of their plans. One aspect that arose from the COVID-19 pandemic has been the splintering of value chains, both upstream to suppliers and downstream to customers due to the repeated lockdowns. Any acquisition of emerging technology and innovative solutions will enable companies to scale up their existing technological capabilities, accelerate the digitalization of the customer journey and to transform business processes,\u201d Mak said. \u201cIdentifying potential areas of growth to make acquisitions and making the difficult decision to divest underperforming assets are both firmly on the corporate agenda in the Asia-Pacific and worldwide. \u201dAsia Pacific\u2019s Financial Services industry gains resilience through innovation"}, {"url": "https://technode.global/2021/09/13/carsome-spots-a-gap-in-auto-financing-for-fresh-graduates-aims-to-introduce-similar-product-in-indonesia-thailand-after-malaysia/", "page": 70, "title": "Carsome spots a gap in auto-financing for graduates, aims to introduce similar product in Indonesia, Thailand after Malaysia", "contents": "The Malaysian first tech unicorn spotted an \u2018underserved\u2019 or \u2018unserved\u2019 segment in auto-financing. Southeast Asian used car marketplace \u201cAuto-financing for graduates is currently only available in Malaysia. We are working to have a similar product offering in Indonesia and Thailand,\u201d Carsome Group Chief Financial Officer Juliet Zhu told Based on data from the Department of Statistics Malaysia, there are about 5.35 million graduates as of 2020. Many fresh graduates face difficulty in obtaining auto-financing support because they lack credit history. The current economic situation also made it more challenging for them to purchase their first car due to stringent requirements imposed by conventional banks, according to Zhu. \u201cWith the addition of this auto-financing for graduates to our product lineup, we hope to help graduates to purchase their first car and empower them to move forward with assurance and peace of mind,\u201d she said. The loans are issued under the Hire Purchase Act 1967 (in Malaysia) and the product is in compliance with the relevant requirements, she added. Carsome recently launched auto-financing for graduates who typically face challenges in obtaining loan approvals from conventional banks. The announcement came as it closed its Used car platforms have laid their eyes on auto-financing. The business is deemed to be a lucrative one, according to traditional used car dealers, besides complementing and supporting their core car sale businesses. Rival For fresh graduates, getting their loan approved can be difficult due to stringent (conventional) bank criteria, Zhu said. According to Carsome, the common factors causing their loan applications to be rejected includes having no credit score as they do not have loans under their names, being unable to produce required documents such as 6-month salary slip, overly high debt service ratio caused by monthly credit card spend, and weak guarantor\u2019s documents, among others. Considering the above, Carsome Capital launched the auto-financing program for fresh graduates wanting to buy a Carsome Certified car. Applicants will need to fulfill several criteria, she said. They need to apply with an Employment Letter of Offer to prove that they will have the income to support the loan repayment (no salary slip required), hold at least a degree certification which is within five years from their graduation date, and apply with their parents as a comfort guarantor whereby comfort guarantors can supply any form of income with no minimum requirement, she explained. Zhu said the criteria set helped Carsome to manage risks in providing the auto-financing product. \u201cWe have set several criteria that are within reasonable reach for most fresh graduates in the market. An employment letter of offer generally gives us a level of certainty that the applicant has a steady flow of income in order to meet monthly repayment obligations,\u201d she said when asked about how Carsome is managing risks for providing such auto-financing products. Carsome also provides dealer financing and auto-financing for consumers. Carsome provides dealer financing through its own in-house financing, where key benefits include less documentation required, as well as generally faster and more flexible process, tailored to the requirements of used car dealers. \u201cWe also work with partnerships, for instance with Southeast Asia-based As for auto-financing for consumers, Zhu said they benefit from seamless loan applications, competitive interest rates, character financing, and data-driven actual market value. All Carsome Certified cars financed on its platform \u201cWe are constantly developing more products in-house, as well as exploring collaborations with more potential partners to elevate our auto-financing offerings,\u201d Zhu added. Commenting on how substantial the auto-financing business will be, she said Carsome is targeting a loan size of at least MYR 100 million for 2022. \u201cWe have completed our business-to-consumer (B2C) Financing proof of concept (POC) in 2019 and have started again on the financing mid-this year, to cater to rising consumer demands and to complement our business-to-consumer (B2C) business. We are targeting a loan size of at least 100 million ringgit for 2022,\u201d she added. Founded in 2015 in Malaysia, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, focusing on trust, convenience, and efficiency. The company becomes Malaysia\u2019s first tech unicorn after announcing Carsome transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. Carsome is considering listing in the United States within the next 12 months and is in talks with sponsors of blank check companies, Zhu said in an interview with Malaysia\u2019s Carsome raises $200M in financing round, valuation hits $1.3B"}, {"url": "https://technode.global/2021/09/08/malaysias-spac-aei-capforce-ii-investment-plans-to-raise-100-million-from-ipo/", "page": 70, "title": "Malaysia SPAC AEI CapForce II Investment plans to raise $100M from IPO", "contents": "Malaysia-based AEI CapForce II Investment Corp, a blank check company targeting opportunities in Greater China or Southeast Asia, has filed with the US Securities and Exchange Commission (SEC) on Tuesday to raise up to $100 million. The company plans to raise $100 million by offering 10 million units at $10 on the Nasdaq Stock Market. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50, its preliminary prospectus showed. At the proposed deal size, AEI CapForce II Investment would command a market value of $129 million, according to IPO investment advisor Renaissance Capital. The blank-check company\u2019s filing also came after Kairous Acquisition Corp Ltd\u2019s AEI CapForce II Investment is led by its Chairman and Chief Executive Officer John Tan. Since January 2015, Tan has served as Chairman and CEO of Asia-Pacific-focused private equity investment group According to the filing, members of its strategic advisory board include Genesis Unicorn Acquisition Corp CEO Juan Fernandez, \u201cWhile we may acquire a business in any industry, we intend to focus on mid-market companies considered disruptors and innovators within the greater technology and consumer sectors in Southeast Asia and China,\u201d the company said in the filing. The company also said it intends to source and evaluate attractive, high growth private companies \u201cin the financial technology, financial services, and technology industries that offer a differentiated technology platform or product for interfacing with the financial services sector,\u201d as it believes the growth-oriented subsectors of the FinTech industry present particularly attractive investment opportunities. Founded in 2021, AEI CapForce II Investment plans to list on the NASDAQ under the symbol \u201cAEIBU\u201d. EF Hutton, division of Benchmark Investments, LLC is acting as the sole book-running manager of the deal. AEI CapForce II Investment\u2019s development was first reported by Renaissance Capital, an IPO investment advisor in providing pre-IPO institutional research and management of IPO-focused investment products. Malaysia-based SPAC Kairous Acquisition files for a $50 million IPO on NASDAQ"}, {"url": "https://technode.global/2021/09/08/unicorns-in-the-making-the-underrated-untapped-and-unknown-of-malaysias-tech-ecosystem/", "page": 70, "title": "Unicorns-in-the-making: The underrated, untapped, and unknown of Malaysia\u2019s tech ecosystem", "contents": "So much has been said and written about the vast potential of the Malaysian tech ecosystem\u2013and for all the right reasons. Within ASEAN, And yet, it seems that Malaysia has been lagging behind in technology investments in recent years. In 2019-2020 a mere $362 million was invested in Malaysian startups\u2013a number dwarfed by Indonesia\u2019s $5.63 billion and Singapore\u2019s $1.47 billion. Neighboring countries Thailand and Vietnam\u2013with lesser ICT investments in the past\u2013attracted significantly more venture and growth capital in the same period. More troubling is how many venture investors seem to view Malaysia as an opportunistic investment market rather than a key focus of their investment mandate. It is also the case that, until very recently, Malaysia has found laying claim to having its own \u2018Unicorn\u2019\u2013a privately owned startup whose investment valuation is in excess of $1 billion\u2013to be elusive, in comparison to ASEAN neighbors Indonesia, Singapore, and Vietnam. \u2018Unicorn\u2019 badging brings all-around confidence (perhaps part hubris) to budding tech ecosystems, and the resultant halo-effect drives further distance in the funding disparities in these markets. Malaysian tech startup founders also have a tendency to be Malaysia market self-sufficient\u2013reflected as \u201ctimid\u201d and \u201clacking boldness\u201d in their expansion plans to non-Malaysian investors. Often, their initial focus on rooting in Malaysia\u2019s 32.7 million population becomes a permanent preoccupation. The Malaysian market, whilst of decent size by traditional measures, cannot fully realize the potential of the digital economy era in drawing the hub-spoke power of various Cloud, SAAS, and Platform services available\u2013as compared to the captive build of US$1B businesses for Indonesia startups\u2019 266.6 million, 16,000-island playground, or the scaling mindset of Singaporean founders who aim to go regional, if not global, from Day 1. All that said, we have witnessed green shoots in the last few months. Bright spots have dotted the Malaysian startup landscape: For all the concerns about the ability of the Malaysian ecosystem to create winning companies, Malaysian startups have shown the highest investment to return ratio in the region\u2013more than double that of Singapore, and nearly 10x more than its neighbors down south in Indonesia. Perhaps a byproduct of being handicapped in raising foreign funds and expanding regionally, Malaysian startups seem to have found ways to develop businesses with good business models with a focus on profitability. Malaysian founders have demonstrated their resourcefulness in leveraging corporate partnerships beyond POC projects, and as well lobbied for government support grants and other benefits to sustainably grow their businesses and exosystem. It would seem that this approach has yielded benefits during liquidity events. Furthermore, local startups have access to a diverse and skilled talent pool. A result of years of development in the ecosystem thanks to entities such as MaGIC, Cradle, and MDEC. With COVID-19 testing the best of founders, the years of development work by these entities will now bear fruit as the Malaysian founders demonstrate their mettle in more equitable environments compared to their regional counterparts. In the eyes of many investors, Malaysia\u2019s ecosystem is indeed a diamond in the rough-chock full of ideas and potential and awaiting the right and timely stimulus to be the birthplace of thousands of successful startups. Beyond financial investment, the key to unlocking this potential is matching timely guidance at the various stages of founding to ensure that their startups are investor-mindset ready. Targeted coaching with regional and global mindsets will provide these startups with a good footing when branching out beyond Malaysian shores. Malaysian startups need a strong go-to-market ethos, with a focus on scaling their models beyond the founding market borders. Many follow-on investors look to Malaysian startups who have successfully proven that they can build a business in another market as a signal of viability and investability. The need to go regional from the moment of inception is non-negotiable. Finally, corporate Malaysia needs to play its part in supporting the startup ecosystem. It is one thing for the government to catalyze growth through grants, tax breaks, and other benefits but in the long run, corporations must play a role in creating an environment for startups to develop long-term collaborations that could lead to investments or acquisitions. It is encouraging to see companies such as There are thousands of Malaysian founders who are building profitable technology companies in Kuala Lumpur, Penang, Johor Bahru, Kuching, and in other cities. Official startup estimates state that there are 3,000 startups in Malaysia however the number can be significantly higher. Many of these companies are structured as small-medium enterprises that use technology to reach their audience. It is unfortunate that these companies don\u2019t rise to prominence but this is the opportunity for Malaysia\u2013to turn these companies into high-growth venture-backed startups that can grow regionally and beyond. Malaysian founders, too, should do their part. They need to shake off their mild-mannered personalities and communicate their beyond-horizon growth plans when speaking to regional partners and investors. In many cases when they do, they achieve breakout success such as the likes of Tony Fernandes, Patrick Grove, Anthony Tan, Joel Neoh, In fact, the most recent Global Entrepreneurship Index (GEI) produced by the Global Entrepreneurship and Development Institute (GEDI) in 2019, which aims to provide a holistic assessment of the entrepreneurial foundation of countries and allow for normalized comparisons, shows Malaysia in a promising light. Amongst its regional peers, Malaysia scores the second highest at 40.1, behind Singapore (52.4) and ahead of Thailand with a corresponding score of 33.5. We believe that the recent round of promising news from the ecosystem is not just a random occurrence but rather the beginning of the emergence of Malaysia as a startup heavyweight in ASEAN. It is the culmination of years of investment by the government, returning entrepreneurs, industry veterans, and investors. This is the moment to double down. To ensure that the Malaysian ecosystem maintains this trajectory, intervention is required to ensure that ascendant startups have the right perspective and focus to achieve meaningful growth. With strategic capital, coaching, and effective go-to-market strategies we believe we can uncover gems in this ascendant ecosystem. And this provided the impetus for Quest Ventures and ScaleUp Malaysia to come together in 2020\u2013the first significant investment program by an international VC into Malaysia. We have made a concerted effort over the last year to focus on grooming and developing startups in Malaysia, leveraging the experience of both teams and their ecosystems. Quest Venture\u2019s involvement in ScaleUp Malaysia\u2019s program brought not only foreign direct investment into the companies in ScaleUp Malaysia\u2019s sophomore cohort but also served as a catalyst for a shift in the mindset of participating founders. Companies were coached in the program on multiple and concurrent market access, pricing strategies, and best practices when speaking to investors. Accessing a regional network of businesses, investors, and partners in ASEAN, China, India, and Central Asia has provided many opportunities for collaboration and has forced our entrepreneurs to benchmark themselves on a global stage instead of simply being local heroes. As we emerge from the Covid-19 pandemic and the economic morass it has wrought on the global economy, Malaysian startups have an opportunity to lead from the front. ScaleUp Malaysia and Quest Ventures aim to continue to be the port of call for startups in Malaysia who want to become breakout success stories. As Cohort 3 begins, we aim to build on the strong foundation we started in Cohort 2\u2013with a laser focus on finding Malaysia\u2019s next big success story. We welcome you to join us on this journey!This is the moment for Malaysia\u2019s startups to be unleashed. Jeffrey SeahAaron SarmaTechNode GlobalScaleUp Malaysia launches Cohort 3, partners with Quest Ventures & Indelible Ventures"}, {"url": "https://technode.global/2021/09/06/southeast-asias-top-50-rising-women-in-tech-2021/", "page": 70, "title": "Southeast Asia\u2019s\u00a0top 50 rising women\u00a0in tech 2021 [Updated]", "contents": "Southeast Asia has seen its fair share of unicorns\u2013The three are Grab Co-Founder Tan Hooi Ling, JustCo Co-Founder and Chief Operating Officer Lu Liu, and PatSnap Co-Founder and Vice President Guan Dian. However, more and more venture capital (VC) firms and angel investors are wising up to the opportunity in investing in the region\u2019s female founders. Despite the largely virtual dealmaking environment over the past year due to COVID, women-led startups have secured multimillion-dollar rounds across a multitude of sectors. Some are barely two years old but have already attracted major VCs to invest Series B money. These female entrepreneurs and C-suite executives are bringing their industry expertise, stints on both VCs and corporates, and in some cases, family and working ties to their startups. Some have hit the ground running with pandemic-era plays such as FinTech, InsurTech, and e-commerce. Others have seen businesses impacted by COVID yet quickly pivoted to not just survive, but attract new funding to fuel expansions. TechNode GlobalA full-stack InsurTech startup, Sunday uses artificial intelligence/machine learning to offer personalized insurance products and services. Sunday co-founders and sisters Joanne and Cindy Kua continue to manage their Malaysian family-owned conglomerate KSK Group while overseeing Sunday\u2019s growth. The sisters are serial entrepreneurs, having also co-founded Carmana, a Bangkok-based used car platform in 2016. Joanne is KSK Group chief executive officer and KSK Land managing director, while Cindy is Sunday\u2019s Chief Executive Officer and Managing Director of KSK\u2019s insurance business. Sunday has received funding from SCB 10X, the venture arm of Siam Commercial Bank, and LINE Ventures. Ajaib is an investing platform that allows Indonesians to buy and sell stocks, ETFs, and mutual funds. Co-Founder and Chief Product Officer Yada Piyajomkwan previously worked at global brands McKinsey and Unilever. Ajaib outpaces the rest of the startups on this list in total funding, which was fueled by its most recent round of $65 million. Ajaib has also received funding from Bangkok Bank and Y Combinator. A provider of artificial intelligence-driven drone-based solutions, Aerodyne\u2019s executive director Azita Azizan and her husband oversee the company\u2019s operations across 35 countries globally. Aerodyne has also received funding from Arc Ventures, Leave a Nest, and Japan\u2019s Drone Fund. A social livestreaming and entertainment platform that aims to amplify Filipino creativity, community, and commerce, the development of KUMU\u2019s iconic blue branding was led by Co-Founder and Advisor Clare Ros. KUMU\u2019s rise up the funding charts is thanks to its Social entertainment startup Kumu to scale operations and roll out new features with Series B fundraise led by SIG and Openspace VenturesAn Indonesian integrated fishery platform, Aruna helps to create fair fish trading, improve the livelihood of local fishermen, and bring affordable and high-quality seafood to communities. Co-Founder and Chief Sustainability Officer Utari Octavianty brings her industry expertise and family history with fishing and coastal village life to Aruna. Aruna\u2019s position on this list was bolstered by its latest funding round, which also saw participation from Prosus Ventures and East Ventures. A developer of 3D digital solutions for the fashion industry, Browzwear made its debut on the funding scene with a bang in August, raising $35 million from growth equity firm Radian Capital. The startup is led by Co-Founder and Chief Executive Officer Sharon Lim, who first started out as a distributor for Browzwear in Asia before acquiring the company in 2012. Previously known as dahmakan, Pop Meals is a food delivery service that utilizes artificial intelligence in logistics and cooking automation. Co-Founder and Chief Operating Officer Jessica Li has a varied background, with previous stints at Foodpanda and PWC. Under Li\u2019s leadership, dahmakan was Malaysia\u2019s first startup to be accepted into the Y Combinator accelerator in 2017. Other investors include East Ventures, Woowa Brothers, and UpHonest Capital. Style Theory is a fashion rental subscription platform that provides economically sustainable fashion choices. Formerly of Goldman Sachs, chief operating officer Raena Lim co-founded the company with her husband Chris Halim in 2016. Today, Style Theory boasts some 200,000 users across Singapore and Indonesia. An online residential real estate management startup, Travelio allows tenants to find and rent apartments from a day to months at a time. During the pandemic, Travelio launched its own online grocery store and disinfection services. This quick pivot resulted in revenue recovering to pre-pandemic levels by August 2020. Chief Strategy Officer Christina Suriadjaja is a scion of the Suriadjaja family, which owns commercial property, construction, and hospitality businesses in Indonesia. Suriadjaja previously worked with IHG Hotels & Resorts and AXA Advisors. Chief Operating Officer Christie Tjong worked in retail and banking in Australia before returning to Indonesia to co-found software development company Code-O Solutions in 2012. Travelio has also raised funding from Samsung Venture Investment, Insignia Ventures, and Indogen Capital. SuperAtom is a FinTech platform which aims to bring innovative financing options to millions of underbanked consumers globally. Under SuperAtom is Founder and president Scarlett Xiao Jie set up SuperAtom to make financial services more accessible to the masses by taking low-cost funds from more mature markets, combining them with proven technology and business models from China, and then localizing for ASEAN markets. Indonesian fintech Pluang forms partnerships with super apps to sell its own products, which include investment accounts for gold. After years of investing experience with Celebes Capital (founded by her father Hendrick Kolonas), Pluang Founder Marcellina Claudia Kolonas chose to take the entrepreneurial plunge and set up her fintech in 2019. Parcel Perform is a carrier-independent delivery experience platform for e-commerce merchants and their customers. Founder and chief commercial officer Dana von der Heide brings her prior logistics experience with DHL to Parcel Perform. The startup has also received funding from Investible and BANSEA. Atlan is a developer of tools for data collaboration, catering to more than 200 teams in over 50 countries. Co-Founder Prukalpa Sankar is a serial entrepreneur, having previously founded SocialCops, a data for good company. Atlan has also received funding from Crossbeam chief executive officer Bob Moore and Pulse Co-Founder Akshay Kothari. Headquartered in Singapore with offices in North Carolina and Bangalore, RegTech company Tookitaki develops machine learning-based financial compliance software, including anti-money laundering and reconciliation software. Co-Founder and Chief Operating Officer Jeeta Bandopadhyay initially started Tookitaki as a social audience discovery and retargeting platform. Tookitaki has received funding from Viola FinTech, SIG China, and Nomura Securities. How Tookitaki enhances trust in FinTech through intelligent and inclusive regulatory compliance [ORIGIN Innovation Awards Q&A]GoWork is the leading premium coworking and office space in Indonesia, with more than 25 locations in multiple cities. Vanessa Hendriadi Li founded ReWork in 2016 and became the chief executive officer of GoWork following the merger between both coworking space operators in 2018. GoWork has also received funding from Indogen Capital and Convergence Ventures. Perx is an interactive lifestyle marketing software-as-a-service platform that develops loyalty and customer engagement to help organizations boost revenue growth. Founder and Chief Executive Officer Anna Gong amassed over 10 years of experience with various computer software brands including CA Technologies, Wily Technology, and Infor before deciding to go solo with Perx in 2014. Perx has also raised funding from Capital Management Group, LINE Ventures, and Golden Gate. BeMyGuest is a travel technology provider to the Asian attractions, tours, and activities industry. Co-Founder and Chief Executive Officer Blanca Menchaca brings her experience with travel search site Wego. com and Australian publisher Enero to BeMyGuest. The startup has also raised funding from TNF Ventures, angel investor Koh Boon Hwee, and Singapore-based travel agent and tour operator Chan Brothers Group. StoreHub is an operating system powering 15,000+ omnichannel retail and F&B businesses in Southeast Asia. In 2020 the startup launched Beep Delivery to help F&B businesses Silent Eight is a RegTech that leverages artificial intelligence to create custom compliance models for the world\u2019s leading financial institutions including HSBC and Standard Chartered. Co-Founder and Chief Operating Officer Julia Markiewicz is a serial entrepreneur, having previously founded and led Polish startup Fabryka Kadr, a human resources services provider. Silent Eight has also received funding from angel investor Koh Boon Hwee and Singapore Angel Network. Smarten Spaces is an end-to-end artificial intelligence platform that aims to digitize spaces and increase space utilization for commercial properties, enterprises, co-working, co-living, and warehousing. Co-Founder and Chief Product Officer Anushka Verghese previously worked at NTT DATA and Cisco, where she was the youngest member of the Cisco India leadership team. Raena helps social media influencers launch their own e-commerce brands and enables Indonesian customers to purchase beauty products from Japan and South Korea. Co-Founder and Chief Executive Officer Sreejita Deb is a serial entrepreneur, having previously founded The Creator Co in 2019, which automated collaborations between influencers and businesses. Raena has also received funding from Alpha JWC Ventures and AC Ventures. Although it is headquartered in Singapore, ErudiFi operates as Danacita in Indonesia and Bukas in the Philippines. The startup secures funding for students through tech-enabled partnerships with leading universities and vocational schools. Co-Founder Susli Lie worked on the VC side before becoming the first female founder from Indonesia to be selected into Y Combinator as part of ErudiFi. Ohmyhome is a proptech marketplace for housing transactions, connecting homeowners to home seekers directly. chief executive officer Rhonda Wong comes from a real estate consultancy background, having previously managed her own firm. Headquartered in Singapore, Oxfordcaps is Asia\u2019s first branded and tech-enabled student housing company that has now grown to 10,000 beds across Indian education hubs like Delhi, Bengaluru, Pune, Dehradun, Indore, Jaipur, Greater Noida, and Ahmedabad. Co-founders Annu Talreja (Chief Executive Officer) and Priyanka Gera (Chief Operating Officer) have over two decades of cumulative experience in Asia Pacific real estate and hospitality industries with companies such as JLL and Marriott. Bio VenturesPoints provides blockchain-based confidential computation solutions for banks, insurance companies, and Internet companies. Founder and Chief Executive Officer Sarah Zhang Jiachen was previously the Chief Operating Officer of Segway Robotics, and senior product manager at Amazon. POINTS has also raised funding from Ceyuan Ventures, China Chengxin Credit, Cherubic Ventures. Naluri is a human-driven, AI-augmented digital health service provider. Co-Founder and health psychologist Dr. Hariyati Shahrima brings her experience in psychology and human resource wellness consultancy to Naluri. Naluri has also raised funding from BioMark, Sumitomo Corporation, and 500 Startups. Sprout Solutions helps companies in the Philippines grow through its suite of backend solutions that address payroll, human resource, and recruitment difficulties. Co-Founder and Chief Product Officer Alexandria Agbayani Gentry was previously group publisher for Hinge Inquirer Publications, before moving on to help a former Microsoft executive start a software company in the Philippines \u2013 Saperium. Sprout Solutions has also raised funding from BEENEXT, Next Billion Ventures, and Point72 Ventures. An EdTech platform and global academy for extra-curricular courses, Kyt is led by Co-Founder Tripti Ahuja and her husband Bhavik Rathod. Ahuja is a serial entrepreneur, having previously founded Exhibit. in and 400 Things. Kyt has also received funding from January Capital and Titan Capital. A B2B tech-enabled logistics platform, Logisly is an e-forwarding startup that works with more than 1,000 businesses in Indonesia, including 300 corporate shippers. Co-Founder and Chief Executive Officer Roolin Njotosetiadi was previously Chief of Staff and Head of Products at Kudo, Indonesia\u2019s leading online-to-offline platform prior to its acquisition by Grab. Logisly has also received funding from Convergence Ventures and Genesia Ventures. Cove is a co-living company in Singapore that leverages technology and design to revolutionize room rentals. Co-Founder and Chief Marketing Officer Sophie Jokelson oversaw regional innovation at food giant General Mills and managed branding at Mars. She continues to lead the Working Girls Network, a social enterprise empowering women that she co-founded in 2016. Cove has also received funding from Antler, Venturra Capital, and Picus Capital. Speedoc is a virtual clinic and healthcare solutions platform that allows users to seek medical care and services from home. A long-time marketing and communications professional, Co-Founder Serene Cai also used to head marketing and communications at Speedoc. Concurrently, Cai is Vice President of the Sharing Economy of Singapore. Speedoc has also received funding from Global Grand Leisure and Decacorn Capital. Saleswhale\u2019s artificial intelligence sales assistant engages and qualifies marketing-generated leads at scale, through two-way intelligent email conversations, before handing over qualified leads to sales reps. Co-Founder Venus Wong is a serial entrepreneur, having previously co-founded mobile software development agency Getting Real Software, where she was also a designer and frontend developer. Saleswhale has also received funding from GREE Ventures, STRIVE, and InnoVen Capital. Avanseus specializes in building enterprise solutions driven by artificial intelligence and cognitive computing. It focuses on predictive maintenance software, especially in the telecom, manufacturing, and industrial IoT sectors. Co-Founder and Head of Finance Ng Mei Lan is a longtime finance professional, having held similar roles in Cellos Software, Aviat Networks, and Nokia. Avanseus has also raised funding from FEBO Limited Partnership and Bangsawan. One BioMed uses digital-health, molecular diagnostics platform technologies that are poised to enable the simultaneous detection of both bacterial and viral infections in less than 30 minutes. Founder Park Mi-Kyoung is a lifelong scientist, having led Singapore\u2019s Institute of Microelectronics\u2019 bioelectronics program and worked as a senior scientist at biotech Biowarn. A digital banking technology firm, Percipient helps enterprises integrate their data across both traditional and modern systems. Co-Founder and Chief Marketing and Communications Officer Lim Ai Meun is an experienced communications professional, with previous stints at ANZ, Cerulli Associates, and Citi. Food Market Hub is a cloud-based purchasing and inventory solution specifically designed for the F&B industry with the use of Big Data and AI to improve restaurant procurement and reduce food costs. Co-Founder and Chief of Money Shayna Teh is a serial entrepreneur, having previously managed several cafes as well as a custom men\u2019s shoe store. GoGet is an on-demand job marketplace that connects businesses to freelancers. Co-Founder and Chief Community Manager Francesca Chia worked with the Boston Consulting Group for four years before starting GoGet. She has been named to the 2021 class of the World Economic Forum\u2019s Young Global Leaders. Nuren Group is a content, community, and commerce platform comprising several websites that follow women from getting married to entering motherhood. Co-Founder and Chief Executive Officer Petrina Goh founded Nuren with her husband in 2013, after working for five years with CIMB\u2019s proprietary investment arm. Nuren has also raised funding from N Capital Partners and 500 TukTuks. Insurtech PolicyStreet allows customers to buy insurance policies directly from its platform, with a focus on millennial users. Co-Founder and Chief Product Officer Winnie Chua worked in insurance giant Allianz Group for six years before striking out on her own. PolicyStreet has also received funding from Malaysian Co-investment Fund and Cradle Fund. AirAsia partners with InsurTech startup PolicyStreet to provide digital car insurance serviceAVANA empowers micro enterprises via social commerce, helping business owners sell through websites, Facebook, Instagram, WhatsApp and Telegram. Co-Founder and Chief Operating Officer Soh Yienyee is a serial entrepreneur, having also founded Square. my and A Shopaholic\u2019s Den. AVANA has also received funding from Captii Ventures, TH Capital and XA Network. EngageRocket is a cloud-based software that helps leaders and organizations make better people decisions using real-time data, automating employee feedback and analytics to deliver management insight. Co-Founder and Chief Operating Officer Dorothy Yiu spent four years with analytics and advisory firm Gallup before taking the entrepreneurial route. EngageRocket has also raised funding from Found. Ventures and angel investor and JobsCentral co-founder Huang Shao Ning. FreshKet is an e-commerce marketplace that connects farmers and food processors to businesses, like restaurants, and consumers in Thailand. Co-Founder and Chief Executive Officer Ponglada Paniangwet is a serial entrepreneur, having previously co-founded software development firm Onner Tech, where she worked as Chief Marketing Officer. FreshKet has also received funding from French-Singaporean food conglomerate Denis Asia Pacific, ECG-Research, and SeedersClub. Member. id is a data-driven loyalty consulting and tech firm that provides businesses with long-term loyalty solutions and rewarding customer experiences. Co-Founder and Chief Executive Officer Marianne Rumantir is a serial entrepreneur, having previously run her own restaurant in Melbourne, and co-founded Nitipstore, an online concierge helping Indonesian buyers purchase items from the U. S. Online food ordering and delivery company DeliverEat was recently acquired by Teleport, the logistics venture under AirAsia Group. It brings its 4,000 merchants and 4,000 delivery partners to the AirAsia super app. Leong Shirmein co-founded DeliverEat with her husband after working as an advertising executive with the national newspaper The Star. SimplyGiving. com is Asia\u2019s crowdfunding platform for social good, with over 1,200 non-profit partners across seven countries. SimplyGiving chief executive officer and director of social lending Cheryl Low previously worked at the China-Britain Business Council for seven years. She was also co-founder and executive director of Wildlife Asia, a wildlife and environment film festival. Present in China and Malaysia, Epost is an online logistics platform that connects businesses and consumers. Co-Founder and Chief Operating Officer Mandy Chan comes from a corporate background, having previously operated a joint venture between Brunsfield and Tsinghua University. Populix is a consumer insights platform that connects businesses with readily-accessible and highly-qualified respondents. Co-Founder Eileen Kamtawijoyo comes from a corporate background, having worked with Indonesian conglomerate Djarum Group to develop and market new brands. Populix has also raised funding from Pegasus Tech Ventures and Quest Ventures. A peer-to-peer car sharing platform, Drivemate\u2019s network comprises 3,000 vehicles and over 50,000 members in Thailand. Chief operations officer Thanyatorn Thitiseranee co-founded Drivemate with her husband, with the goal of replicating successful car rental platforms they had seen overseas. Drivemate has also raised funding from Colopi Next, Isuzu Motors, and UNT Group. A pioneer cloud restaurant company, CloudEats builds digital restaurant brands via tech-powered cloud kitchens. Co-Founder and Chief Executive Officer Kimberly Yao brings in over a decade of experience operating The Palace, the largest standalone food, beverage and entertainment complex in the Philippines. A serial entrepreneur, Yao co-founded Boozy. ph, Philippines\u2019 leading beverage e-commerce company, and then sold it to one of the country\u2019s largest beverage groups within 18 months. Tier One is a developer of a gaming platform and esports talent agency focused on content distribution and creation. Co-Founder Alodia Gosiengfiao is a multi-talented influencer and brand ambassador for esports gaming, in addition to modeling and singing. She launched her own beauty brand while overseeing talent at Tier One. Editor\u2019s noteGender diversity gap is \u2018definitely stark\u2019 in VC industry, says Quest Ventures\u2019 Goh Yiping [ORIGIN Innovation Awards Q&A]"}, {"url": "https://technode.global/2021/09/06/hong-kongs-pickupp-expands-malaysian-footprint-with-first-regional-hub-in-penang/", "page": 70, "title": "Hong Kong\u2019s Pickupp expands Malaysian footprint with first regional hub in Penang", "contents": "Pickupp Malaysia, the Malaysia unit of Hong Kong-based logistics startup Pickupp will service the northern region with one warehouse, with plans to expand its warehouse footprint in the coming years to fulfill the demand for last-mile delivery to support the soaring growth of e-commerce and logistics, the company said in a statement. This announcement follows its parent company, Pickupp Ltd\u2019s, This expansion is in line with Pickupp Malaysia\u2019s vision of bringing affordable and efficient logistics services to businesses and consumers beyond the Klang Valley. Through this northern hub, Pickupp continues to work closely with its strategic partners, including 3PLs, to uplift Malaysia\u2019s delivery ecosystem that is experiencing growing demand due to the growth and maturity of e-commerce in the nation and across the world. Currently, Pickupp is partnering with customers ranging from multinational logistics companies like DHL eCommerce and Aramex to leading e-commerce brands like Lazada, FashionValet, and more in Penang. \u201cThis latest expansion of our last-mile delivery network puts our customers even closer to their end-customers in some of the most densely populated areas in Penang, where capacity constraints can be a daily challenge. Moreover, by increasing our footprint into the northern territory, we improve our customers\u2019 speed-to-market, which is crucial in today\u2019s highly competitive environment and vital to our customers\u2019 short- and long-term growth strategies,\u201d said Pickupp Malaysia Country Manager Navin Kandapper. Through the expansion of Pickupp\u2019s local operation in Penang, it is expected to create job opportunities for Penangites and offer localized services for customers in and around the region, the company said. The company is also reaching underserved local communities through its Delivery Agent Acquisition Plan, which to date has benefitted 38,497 individuals. \u201cLogistics is one of the most challenging parts of the e-commerce puzzle, especially for smaller merchants. Pickupp helps them compete in the on-demand economy with flexible, customizable delivery services with an average saving of approximately 30 percent of conventional cost. This is made possible by proprietary software and batching technology that improves operational workflow for route optimization and warehouse management,\u201d said Navin Kandapper. Pickupp\u2019s user base has grown by 250 percent since the pandemic outbreak in March 2020, with over 100,000 delivery agents onboard across all regions. Pickupp Malaysia, meanwhile, has seen a user base growth of 198 percent, creating earning opportunities for 38,000 independent delivery agents. Pickupp is an on-demand delivery platform aimed to redefine logistics with its transparent customer-centric service and technology. Founded in 2016, the company has operations in Hong Kong, Singapore, Malaysia, and Taiwan, providing logistics support to 20,000+ businesses spanning MNCs, logistics giants as well as retail and e-commerce. Pickupp to expand presence in Malaysia after completing Series A and A+ funding co-led by PChome, Cornerstone Ventures"}, {"url": "https://technode.global/2021/09/06/sgx-listed-ifast-corp-to-continue-digital-bank-ambition-in-malaysia-qa/", "page": 70, "title": "SGX-listed iFAST Corp to continue digital bank ambition in Malaysia [Q&A]", "contents": "Editor\u2019s note:Losing out the bid for a digital wholesale bank license in Singapore last year has not stopped Singapore-listed wealth management firm The company announced on June 30 that it has submitted an application for a digital bank license in Malaysia. iFast will be joining a crowded field vying for digital bank licenses which include ride-hailing giant A diverse range of parties has submitted applications for the digital bank licenses in Malaysia, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. Bank Negara Malaysia is expected to issue up to five licenses by early 2022. The central bank said it has receivedOther notable applicants that have officially announced their applications include In an interview with \u201cWith the synergistic capabilities within our consortium, we aim to offer solutions that will provide immediate benefits to the B40 segment, such as free life insurance, interest-free loans for daily necessities, and micro-investments and insurance,\u201d he said. Outside of Malaysia, iFast, which has operations across Asian markets like Singapore, Hong Kong, Malaysia, China, and India, is also targeting global depositors who have limited access to the right deposit and wealth management solutions in their own countries. \u201cThis target segment would provide the digital bank with low-cost deposits that can be channeled into low-cost loans for the local underserved and unserved segment,\u201d he said, explaining how iFast would have an edge against other contenders. To compete for the digital banking license, iFast has put together a consortium with both Malaysian and international partners. The Malaysian consortium partners are army credit co-operative Internationally, the iFast has roped in Yillion Fintech Pte Ltd which provides the core digital banking technology and capabilities for iFast will own a 40 percent stake in the digital bank if the application is successful. The beneficial equity ownership of the consortium will be approximately 57 percent Malaysian, it said in the statement announcing the application. While some of the consortiums According to Incorporated in the year 2000 in Singapore, iFast operates a FinTech wealth management platform in Asia, with assets under administration (AUA) of S$17.54 billion ($13.06 billion) as at June 30, 2021, its latest financial statement showed. iFast was predominantly a unit trust investment platform. In recent years, the group, which was listed on the SGX Mainboard in 2014, has broadened its investment products and services, providing a comprehensive suite of wealth management solutionsto financial advisory firms, financial institutions, banks, multinational companies, as well as retail and high net worth investors in Asia. The group offers access to over 13,000 investment products including unit trusts, bonds, and Singapore Government Securities, stocks and exchange-traded funds, and insurance products. Other services include online discretionary portfolio management services, research and investment seminars, IT solutions, and investment administration and transaction services. The company is also present in Hong Kong, Malaysia, China, and India. Based on its shares price on Friday at In the interview, Lim also explained the competitive advantage iFAST Corp has against other contenders. He said the consortium will also be able to leverage the expertise and resources from its partners, especially Below is the edited excerpt of the interview:Most services and products in the financial industry require the support or participation of banks. By becoming a digital bank, iFAST will have access to this \u201cfoundation layer\u201d of the financial ecosystem, and be able to deploy our \u201cFin\u201d (financial) and \u201cTech\u201d capabilities to the fullest. This will enable us to create innovative banking products and solutions for consumers in Malaysia and globally. Although Malaysia has an unbanked population of only 8 percent, we believe financial inclusion is far beyond having a bank account for all Malaysians. There are still many Malaysians still underserved by the incumbent banks. As such, our main target segment is the Bottom 40 percent (B40) of Malaysia\u2019s population, who is clearly the most unserved and underserved. With the synergistic capabilities within our consortium, we aim to offer solutions that will provide immediate benefits to the B40 segment, such as free life insurance, interest-free loans for daily necessities, and micro-investments and insurance. Outside of Malaysia, we are also targeting global depositors who have limited access to the right deposit and wealth management solutions in their own countries. This target segment would provide the digital bank with low-cost deposits that can be channeled into low-cost loans for the local underserved and unserved segment. Firstly, as a wealth management platform, iFAST not only has the ability to attract low-cost deposits but also has a ready source of deposits. This is crucial, since Secondly, with the consortium\u2019s combined ecosystem of customers, wealth management intermediaries, and product partners, we already have a ready source of customers and distribution channels to tap on immediately. Koperasi Angkatan Tentera Malaysia and 99 Speedmart are also familiar names to all Malaysians and will allow us to reach out to our targeted segment with even more ease. The third advantage is technology. As a FinTech company that has built almost all its systems internally, iFAST has a strong advantage in terms of speed-to-market and costs, which are much lower than outsourcing. For the digital bank, iFAST will also be able to leverage on the expertise and resources from our consortium partners (especially Yillion, an existing digital bank in China). The success of our digital bank will not rely solely on iFast\u2019s capabilities, but instead on the overall synergistic capabilities within our consortium. With the factors mentioned above, we believe that our business model is a profitable and sustainable one. Our consortium members also have a strong track record of running profitable businesses over the years, and this will be reflected in the digital bank. We anticipate turning profitable by the time we exit the foundation phase. Featured image credits: iFastDoes Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]"}, {"url": "https://technode.global/2021/09/02/central-banks-of-australia-malaysia-singapore-south-africa-to-test-central-bank-digital-currencies-for-international-settlements/", "page": 70, "title": "Central banks of Australia, Malaysia, Singapore, South Africa to test central bank digital currencies for international settlements", "contents": "The Bank for International Settlements (BIS) Innovation HubLed by the Innovation Hub\u2019s Singapore Center, the project, dubbed Project Dunbar, aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs, BIS Innovation Hub, and the central banks said in a joint statement. These multi-CBDC platforms will allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks, eliminating the need for intermediaries and cutting the time and cost of transactions. The project will work with multiple partners to develop technical prototypes on different distributed ledger technology platforms. It will also explore different governance and operating designs that would enable central banks to share CBDC infrastructures, benefitting from the collaboration between public and private sector experts in different jurisdictions and areas of operation. \u201cThe multi-CBDC shared platform explored under Project Dunbar has the potential to leapfrog the legacy payment arrangements and serve as a foundation for a more efficient international settlement platform. We hope the project will spur greater public-private collaboration to enable fast and frictionless cross-border payments, combining both the benefits of distributed ledger technology and the efficiency of a common platform,\u201d said Bank Negara Malaysia Assistant Governor Fraziali Ismail. \u201cWith this group of capable and passionate partners, we are confident that our work on multi-CBDCs for international settlements will break new ground in this next stage of CBDC experimentation and lay the foundation for global payments connectivity,\u201d said Andrew McCormack, Centre Head of the BIS Innovation Hub Singapore Center. \u201cEnhancing cross-border payments has become a priority for the international regulatory community and something that we are also very focused on in our domestic policy work,\u201d Reserve Bank of Australia Assistant Governor (Financial System) Michele Bullock said. \u201cThe findings on how a common platform can be governed effectively and managed efficiently will shape the blueprint of the next generation payment systems,\u201d said Monetary Authority of Singapore Chief FinTech Officer Sopnendu Mohanty. \u201cAfter years of mostly domestic research and exploration, we are very pleased to see that these common insights about the need to explore cross-border CBDC payments and interoperability are coming together internationally,\u201d said South African Reserve Bank Deputy Governor Rashad Cassim. Project Dunbar\u2019s work will explore the international dimension of CBDC design and support the efforts of the G20 roadmap for enhancing cross-border payments, according to the statement. Its results, expected to be published in early 2022, will inform the development of future platforms for global and regional settlements. Technical prototypes of the shared platforms, developed in collaboration with different technology partners, will be demonstrated at the Singapore FinTech Festival in November 2021. According to A 2021 BIS survey of central banks found that 86 percent are actively researching the potential for CBDCs, 60 percent were experimenting with the technology and 14 percent were deploying pilot projects. A CBDC would be a digital banknote and it could be used by individuals to pay businesses, shops, or each other (a \u201cretail CBDC\u201d), or between financial institutions to settle trades in financial markets (a \u201cwholesale CBDC\u201d), BIS explained on its website. Central banks are also exploring whether CBDC could help them to achieve their public good objectives, such as safeguarding public trust in money, maintaining price stability while ensuring safe and resilient payment systems and infrastructure, it added. Featured image credits: "}, {"url": "https://technode.global/2021/09/02/airwallex-secures-money-services-business-license-in-malaysia-positioned-for-growth-in-southeast-asia/", "page": 70, "title": "Airwallex secures money services business license in Malaysia, now positioned for growth in Southeast Asia", "contents": "Global FinTech platform The new license will allow Airwallex to offer international payment solutions for Malaysian businesses of all sizes, from SMEs to larger enterprises, to manage their operations in Malaysia, Airwallex said in a statement. From early next year, businesses in Malaysia can enjoy \u201cfast, transparent and cost-effective\u201d international payments in multiple currencies, empowering them to operate and grow globally, the company said. Through the Airwallex platform, they will have the ability to collect funds from customers across the globe in different currencies, convert and payout into preferred currencies, it added. Airwallex said the development marks another milestone for Airwallex as the company sets its sights on growing its presence in Southeast Asia, with teams in Singapore and Malaysia to support ASEAN businesses. Globally, Airwallex currently has licenses and is operational in Australia, Hong Kong, the United Kingdom & European Union, and the US. \u201cMalaysia-based businesses have been looking to tap into Southeast markets to remain competitive, requiring a trusted payment partner for their regional and global expansion. With this new license, Airwallex aims to replicate the success that it has achieved from servicing leading companies in other regions with businesses in Malaysia. Our solutions will help both local and global businesses in Malaysia focus on their international operations and expansion, without having to navigate the nuances of establishing their own cross-border financial infrastructure,\u201d said Airwallex Co-Founder and Chief Executive Officer Jack Zhang. Earlier this year, Airwallex announced an additional Series D capital raise of $100 million which increased its valuation to $2.6 billion. Founded in 2015, Airwallex has over 900 staff across 12 global offices. It has built a global financial infrastructure and platform to help businesses to manage payments, treasury, and expenses internationally, without the constraints of the traditional financial system. Airwallex has secured over $500 million since it was established in Melbourne in 2015 and is backed by world-leading investors. Airwallex has reached unicorn status during its Series C fundraising in March 2019. Investors of Airwallex include Greenoaks, Grok Ventures, Skip Capital, ANZi Ventures, Salesforce Ventures, DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, Horizons Ventures, among others. Airwallex founders launch new venture capital fund Capital 49, aims to raise $200MFeatured image credits: "}, {"url": "https://technode.global/2021/09/01/malaysias-carsome-raises-200m-in-financing-round-valuation-hit-1-3b/", "page": 71, "title": "Malaysia\u2019s Carsome raises $200M in financing round, valuation hits $1.3B", "contents": "Southeast Asian used car trading platform This is complemented by new credit facilities of $30 million, bringing total funds raised to $200 million, Carsome said in a statement. The Series D2 round, the largest equity investment in Carsome\u2019s history, saw participation from one of the largest sovereign wealth funds in the region and a pool of new international investors such as Catcha Group and MediaTek as well as strong participation from existing shareholders including Asia Partners, Gobi Partners, 500 Southeast Asia, Ondine Capital, MUFG Innovation Partners, Daiwa PI Partners, among others. Rothschild & Co acted as the financial advisor to Carsome for the deal. According to Carsome Co-founder and Group CEO Eric Cheng, the latest funding round enables the company to accelerate its organic growth in the retail and auto-financing business. \u201cWe are geared up to achieve even greater heights while rolling out Southeast Asia\u2019s integrated car e-commerce platform, now further solidified by various strengths within the ecosystem,\u201d Cheng added. Automotive e-commerce platform Carsome raises $30M Series D to accelerate expansion in Southeast AsiaCarsome\u2019s latest funding round came after it announced in July it plans to acquire listings and content automotive platform iCar Asia to create the largest automotive marketplace in Southeast Asia. Carsome\u2019s latest funding round will empower its strategic focus on the growth and expansion of its business-to-consumer (B2C) business. This year alone, Carsome has opened at least seven B2C retail centers across Malaysia, Indonesia, and Thailand, with several more in the pipeline for the rest of the year. The company has also opened its first vehicle reconditioning center in Malaysia. The funding injection also strengthens Carsome\u2019s offering in auto-financing for car buyers and used car dealers. Carsome has recently launched auto-financing for graduates who typically face challenges in obtaining loan approvals from conventional banks. Carsome\u2019s Series D2 funding is also expected to boost its capabilities in strategic investments and mergers and acquisitions. This year, the company has acquired an all-equity stake in PT Universal Collection, a Jakarta-based car and motorcycle auction service, as well as Carsome transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. The company provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient. Carsome currently transacts around 100,000 cars annually and has more than 1,700 employees across all its offices. Carsome partners Catcha to create SEA\u2019s largest digital automotive marketplace via $200M acquisition of iCar Asia"}, {"url": "https://technode.global/2021/08/30/malaysias-gig-workers-employment-platform-troopers-bags-close-to-1m-in-series-a-round/", "page": 71, "title": "Malaysia\u2019s gig workers employment platform Troopers bags close to $1M in Series A round", "contents": "Troopers MalaysiaShopper360\u2019s investment and strategic partnership will provide Troopers the leverage to implement some of the company\u2019s business plans. The investment will be used for technology development, marketing, and working capital to further expand its business In Malaysia, Troopers said in a statement on Monday. \u201cMobile continues to be a major platform for people to consume media, shop, and pay for goods and services. Therefore, it is only natural that we allow people to also search for jobs and short-term work through a mobile app. We see ample synergies with Shopper360 to grow our business further,\u201d said Troopers Founder and Chief Executive Officer Joshua Tan. Troopers digital mobile platform enables the automation of gig matching and allows workers to choose where and when they want to work, and employers have access to a wide talent pool for all types of part-time / once-off gigs. Founded by Tan and Kelvin Lee in 2017, Troopers said it is revolutionizing the existing part-time recruitment culture and structure in Malaysia to create an eco-system that is reliable, efficient, and effective for their stakeholders. Troopers conducts all its recruitment, selection, talent management, payroll and training via the app and have hired more than 100,000 headcounts over the past four years in a variety of roles and jobs across Malaysia. Since the introduction of its mobile app in June 2021, it has generated more than 35,000 users and placed more than 20,000 jobs translating to RM1.2 million of income in just two months. Troopers is a digital manpower solutions company that specializes in part-time recruitment, human resource management, and technology-enabled job matching for the gig economy. Troopers aims to provide a safe and secure working environment for individuals while providing clients with access to a well-trained and talented flexible workforce. Troopers have increased market shares and managed to penetrate the Malaysian market via their reliable, transparent, and accountable eco-system strategy. shopper360 is a shopper marketing services provider in the retail and consumer goods industries in Malaysia with more than 30 years of experience in the in-store advertising industry. The group offers a range of field, digital and shopper marketing and advertising services. It also provides sales distribution services for products and brands. The group consists of ten agencies in Malaysia, Singapore, and Myanmar, namely Pos Ad, Jump Retail, Retail Galaxy, shopperplus Malaysia, Tristar Synergy, Gazelle Activation, Marvel Distribution, She Distribution, shopperplus Singapore, and shopperplus Myanmar.8 Future of Work trends that will influence your business in 2021 and beyond"}, {"url": "https://technode.global/2021/08/30/malaysias-islamic-crowdfunding-platform-ethis-group-raises-1-7m-in-pre-series-a-round/", "page": 71, "title": "Malaysia\u2019s Islamic crowdfunding platform Ethis Group raises $1.7M in pre-Series A round", "contents": "Ethis GlobalThis funding round comes hot on the heels of Ethis\u2019 recent appointment of Amra Mohd as the Chairman of the newly established Ethis Investment Management, Ethis said in a statement on Thursday. This \u2018Super Angel\u2019 round included leaders and executives from Islamic finance and fund management across various jurisdictions. Notable investors include corporate leader Wan Zulkiflee, former President and Group Chief Executive Officer of Petroliam Nasional Bhd (Petronas) and Daud Vicary Abdullah, a \u201crenowned figure and thought-leader\u201d in Islamic finance and banking, both from Malaysia, and Dubai-based Khurram Hilal, CEO of global Islamic banking at an international bank. Ethis Group Chairman of Advisors Mohd Radzif Mohd Yunus said: \u201cOur global ambition and focus on impact has attracted new shareholders who bring tremendous experience and relationships to our group. This we believe will propel growth for years to come. \u201dIn 2022, Ethis intends to expand its offerings in Indonesia and Malaysia to include agriculture and \u2018Waqf\u2019 issuers and projects. The funds will be used to scale up operations in existing markets, acquire licenses and set up in new jurisdictions, and develop new technology as part of the group\u2019s planned milestones leading up to their full Group Series A round where Ethis targets to raise $10 million from institutional and strategic corporate investors. Founded in 2014 as a private investment club in Singapore, Ethis is a Malaysia-headquartered Islamic FinTech company focused on sustainable and impactful crowd-investments, financing, and donations. It is operating regulated platforms in Malaysia and Indonesia and has also secured regulatory approvals in Dubai and Qatar. Ethis Indonesia has been operating since 2015, matching retail investors from more than 50 countries into impact-investment campaigns, initially focused on property development for social housing and more recently introducing SME supply-chain projects. \u201cThis synergy, we believe, will be the key to our growth and success. Ethis is on track to prove the commercial viability of our high-impact FinTech model based on Islamic finance principles,\u201d Ethis Group Founder Umar Munshi said. Ethis Group operates investment platforms approved by regulators in Indonesia and Malaysia, together with Its platforms serve ordinary people, high-net-worth individuals, corporates, and government entities. Ethis built its initial track record from 2016 to 2020 in social housing in Indonesia where its global community of investors from more than 50 countries funded development projects to build close to 100,000 homes. Since the onset of COVID-19, it has launched new investment products, including short-term, high-yield supply-chain financing projects in Indonesia and equity investment in \u2018future tech\u2019 startups in Malaysia. It said its social finance marketplace GlobalSadaqah plays a vital role in matching donors and Islamic economy players to better distribute social finance and zakat to non-governmental organizations and social enterprises. Social finance platform Global Sadaqah\u2019s flash-funding provides insights into Shariah-compliant crowdfunding"}, {"url": "https://technode.global/2021/08/27/scaleup-malaysia-inks-memorandum-of-cooperation-with-technology-park-malaysia-in-strategic-public-private-partnership/", "page": 71, "title": "ScaleUp Malaysia inks memorandum of cooperation with Technology Park Malaysia in strategic public-private partnership", "contents": "Malaysia-based accelerator \u201cScaleUp Malaysia is a known accelerator program that is operated by entrepreneurs and industry veterans. The partnership between TPM and ScaleUp Malaysia will provide startups better access to government resources that include labs, infrastructure, and other facilities, as well as regulatory facilitation to advance innovation. This collaboration opens up the door for the scaleups to receive support from the private sector\u2019s networks, expertise and capital,\u201d said Technology Park Malaysia Group Chief Executive Officer Dzuleira Abu Bakar in a statement on Thursday. According to Dzuleira, the recent announcement by the \u201cIn our bid to propel and create more startups, scaleups and future unicorns, this partnership as well as the formation of TCA is seen as a boost to the startup scene in Malaysia and is poised to see more technology companies that will succeed within the Malaysian ecosystem,\u201d she said. \u201cThis is a strategic move where ScaleUp Malaysia aims to help create the right alliance with the Government\u2019s resources and support with private sector networks, expertise, and capital. ScaleUp Malaysia will continue on to support the Government by providing training, market access, and capital to these companies to contribute towards the national agenda in creating a vibrant entrepreneurship ecosystem,\u201d said ScaleUp Malaysia Managing Partner Sivapalan Vivekarajah. The development also came as the Malaysian government continues its effort to spur the startup ecosystem and encourages public-private collaborations to nurture more homegrown tech startups. The Malaysian government has placed strategic importance on grooming Malaysia\u2019s startup ecosystem in its MyDigital Blueprint. MOSTI-led National Technology Innovation Sandbox (NTIS), has also seen strong momentum in the development and commercialization of cutting edge technologies. More than 2,500 companies applied to advance and strengthen their product development \u2013 and from these, more than 130 are gaining support in terms of market validation, regulatory facilitation, funding, and more through the program. \u201cWith all these initiatives in place, I have full confidence it will be a short matter of time for Malaysia to better our position in the race to raise regional and global champions. This partnership shows that we are truly vested in growing the ecosystem. The government has and will continue to play a key role in developing the next generation of successful technopreneurs,\u201d said Dzuleira. ScaleUp Malaysia is an accelerator which focuses on growth-stage companies in Malaysia \u2013 helping them position their business for exponential growth. Technology Park Malaysia Corporation (TPM) is the innovation facilitator and technology enabler of Malaysia. It was established by the Ministry of Finance, Malaysia in 1996 and operates under the auspices of the Minister of Science, Technology and Innovation (MOSTI). As the national driver of innovation and technology, TPM manages and operates Malaysia\u2019s 686-acre technology park campus in Bukit Jalil, Kuala Lumpur. ScaleUp Malaysia launches Cohort 3, partners with Quest Ventures & Indelible Ventures"}, {"url": "https://technode.global/2021/08/26/petronas-future-tech-2-0-welcomes-20-malaysian-deep-tech-startups-including-drone-tech-firm-aerodyne/", "page": 71, "title": "Petronas Future Tech 2.0 welcomes 20 Malaysian deep tech startups including drone tech firm Aerodyne", "contents": "A total of 20 Malaysian startups have been selected to participate in the second edition of Petronas FutureTech 2.0, an intensive technology accelerator program led by the national oil company in collaboration with state-linked telco The latest edition of the program received 368 applications, more than double compared to 165 for the first edition in 2019. Petronas\u201cFutureTech 2.0 underlines Petronas\u2019 commitment to position itself as a progressive energy and solutions partner ready to deliver innovative, game-changing, and sustainable actions in facing the energy transition as well as consumer demand,\u201d said Arni Laily Anwarrudin, Head of Petronas Ventures. The 20 startups were chosen for their innovations to potentially solve challenges and uncover opportunities in Industry 4.0, specialty chemicals and advanced materials, the future of energy, digital transformation, and retail innovation. Some of the selected startups include drone tech firm Starting from August 30, these startups will take part in a 12-week virtual program which includes masterclasses, workshops, and coaching from 500 Startups\u2019 global network of mentors, as well as experts from Petronas, TM and SDP. The startups will also focus on creating commercial opportunities with the corporations and accelerate their commercialization path through various potential collaborations. \u201cWith the synergy of Petronas, TM, and SDP, we aim to help them achieve global standards \u2013 namely by providing opportunities for innovation collaborations between these startups and the major corporations that can deliver value and create lasting impact in the country and beyond,\u201d 500 Startups Regional Director of Asia Pacific Ee Ling Lim said. At the end of the 12-week program, these startups will present their innovations and traction to potential investors and industry stakeholders on Demo Day. The chosen startups will then continue to work closely with Petronas, TM, and SDP in running and completing potential pilot projects to validate the technology with business divisions within these companies, Petronas said. Following the first edition of Petronas FutureTech 2.0 in 2019, two startups have become investees of Petronas Ventures while the seven others are engaging with Petronas on the business front. Petronas announced the collaboration with TM and SDP for the second edition of Petronas FutureTech 2.0 in June. The development comes as the Malaysian government intends to spur the startup ecosystem and encourage the private sector to invest in tech startups. Petroliam Nasional Bhd (Petronas) is the sole manager of Malaysia\u2019s energy reserves, ranked amongst the largest corporations on Fortune Global 500. It is the world\u2019s fourth-largest LNG exporter. Petronas has set up a venture capital arm in 2019 to drive technology innovation and maintain a competitive edge to support its core oil and gas business for further growth."}, {"url": "https://technode.global/2021/08/26/mdec-launches-global-technology-grant-to-nurture-global-tech-champions/", "page": 71, "title": "MDEC launches Global Technology Grant to nurture global tech champions", "contents": "Malaysia Digital Economy Malaysia (MDEC)It will provide up to 2 million ringgit funding for technology companies and technology accelerators, MDEC said in a statement. GTG\u2019s objective is to support the scaling-up of Malaysian technology companies into the global arena by way of empowering innovation, development, and commercialization of disruptive or innovative products and services, the agency said. The grant works by supporting research and development (R&D), scaling up of provision of R&D services, development of new technologies, the establishment of Centers of Excellence, and the creation of new market-driven products or services for the global market. \u201cThe Global Technology Grant aims to nurture global champions out of local innovators by allowing them to develop and commercialize innovative and commercially driven products or services. This will have a snowball effect that ultimately leads to export revenue increases, the upskilling of local founders and talents, and a rise in digital investments that contribute towards the goals set by the Malaysia Digital Economy Blueprint (MyDIGITAL) and Malaysia\u2019s vision to be the Heart of Digital ASEAN,\u201d said MDEC Vice President (Tech Ecosystems and Globalisation) Gopi Ganesalingam. The GTG also serves to support high-impact ecosystem development initiatives, including the development of ecosystem players that contribute to the growth of the digital economy, such as new job creations, expansion of export and investments, and talent development. The grant offers two types of incentives: Type 1, which is directed at technology companies, and Type 2, for technology accelerators. The grant is open to both local and foreign-owned companies which are incorporated in Malaysia. These companies will have to fulfill requirements set by MDEC. The GTG is open for submission on August 27, 2021, and the closing date for submissions on September 15, 2021, with evaluation and approvals set to be completed by October. The project execution phase will begin in November and December. MDEC\u2019s Global Technology Grant was announced during the Malaysia Tech Month 2021, a virtual, month-long curation of electrifying digital and technology events aimed at promoting Malaysia as a digital investment hub. MDEC is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 25 years. Featured image credits: Unsplash"}, {"url": "https://technode.global/2021/08/26/malaysia-based-spac-kairous-acquisition-files-for-a-50-million-ipo-on-nasdaq/", "page": 71, "title": "Malaysia-based SPAC Kairous Acquisition files for a $50 million IPO on NASDAQ", "contents": "Kairous Acquisition Corp Ltd, an Asia-focused blank check company led by the founder of Malaysia-based The special purpose acquisition company (SPAC) which plans to raise $50 million, is offering 5 million units at $10 each. Each unit consists of one ordinary share, one-half (1/2) of a redeemable warrant, and one right to receive one-tenth (1/10) of an ordinary share upon the completion of an initial business combination. Each whole warrant entitles the holder to purchase one ordinary share at a price of $11.50 per full share, its prospectus showed. \u201cOur efforts to identify a prospective target business will not be limited to a particular industry or geographic location, although we currently intend to focus on opportunities in Asia,\u201d the SPAC said in a filing dated Aug 24, 2021. The development was first reported by investment adviser On its acquisition strategy, the SPAC, which plans to be listed on NASDAQ, said it intends to \u201cprimarily focus on fast-growing technology companies in different industry verticals, including but not limited to e-commerce, financial technology, insurance technology, digital health, digital media, and digital services. \u201dThe blank check company also plans to acquire businesses with enterprise values of between $120 million and $300 million and with revenue or net profit at an annual growth rate of at least 50 percent. \u201cWe intend to acquire companies with business models that are well proven in developed markets. Asia is growing at an unprecedented speed and we believe the region is in need of faster and more efficient business models, similar to those we see in developed countries such as the United States and China that are well proven to be much better in serving the market and recorded strong growth trajectory,\u201d it added. The SPAC said it will seek to capitalize on the M&A and operational expertise as well as the relationships of its management team and its board of directors, to identify attractive businesses that have the capacity to grow rapidly by utilizing a public vehicle. The company is led by Chairman and Chief Executive Officer Joseph Lee, who is also the Founder and Managing Partner of Kairous Capital, a regional venture capital firm focusing on technology investments across China and Southeast Asia. Lee has more than 16 years of experience in cross-border investment across the Asia Pacific. Since 2004, Lee has been actively involved in private equity and venture capital investment. In 2006, he joined Kuwait Finance House (Malaysia) Bhd as the pioneer team in setting up their private equity division and first Islamic private equity fund in the Asia Pacific. Launched in 2015, Kairous Capital is a venture capital firm with a hybrid model as it has some private equity elements such as its involvement in the post-investment value creation of startup. To date, Kairous Capital has invested in 13 companies across China and Southeast Asia, covering industries such as financial technology, e-commerce, digital health, digital media, and digital services. Kairous Capital is an investor in Featured image credits: "}, {"url": "https://technode.global/2021/08/25/singapores-omnilytics-to-acquire-malaysias-supahands-in-20m-deal/", "page": 71, "title": "Singapore\u2019s Omnilytics to acquire Malaysia\u2019s Supahands in $20M deal", "contents": "OmnilyticsOmnilytics will be embarking on an ongoing strategic acquisition drive to bolster its core functions and technological capabilities to supercharge its long-term growth, the company said in a statement. \u201cAt Omnilytics, our vision is to enable a more intelligent, connected retail ecosystem, enabling brands to stay ahead of their competitors. Our acquisition of Supahands marks a pivotal step in our journey, filling a critical gap in our existing tech capabilities as we take one step closer in becoming retail\u2019s most important data stack,\u201d Omnilytics Chief Executive Officer and Co-Founder Kendrick Wong said. The acquisition of Supahands is set to bring Omnilytics\u2019 Product Match solution to the next level, opening doors to future partnership and innovation endeavors across the e-commerce landscape, Onmilytics said. Supahands\u2019 investors include Founded in 2014 and headquartered in Malaysia, Supahands is an end-to-end data labeling platform that develops training data to enable clients to launch and scale high-performing artificial intelligence applications for their business. The company\u2019s global clientele includes online consumer marketplace Carousell, SaaS customer experience management platform Sprinklr, and retail solutions provider Badger Technologies. \u201cAccelerating the adoption of AI is at the heart of our business at Supahands, having witnessed first hand the tangible benefits that artificial intelligence and machine learning can bring to our clients as they strengthen the different pillars of their business from analytics to deployment,\u201d Supahands CEO and Co-Founder Mark Koh said. Following the acquisition, Koh will join the Omnilytics Board, taking on the role of Chief Strategy Officer as we embark on our accelerated growth plan for 2022. Armed with our proprietary Product Match solution, which enables brands and retailers to compare the same or similar stock-keeping units (SKUs) across multiple platforms, we\u2019re on a mission to help the world trade efficiently by transforming retail with intelligent connected data and actionable insights. By using a singular set of naming conventions, Omnilytics provides retailers with the confidence to make accurate data-driven decisions at both product and market level and reduce risk of inconsistencies and misclassifications in their product database\u2013ultimately achieving better business performance overall. Featured image credits: "}, {"url": "https://technode.global/2021/08/25/scaleup-malaysia-launches-cohort-3-partners-with-quest-ventures-indelible-ventures/", "page": 71, "title": "ScaleUp Malaysia launches Cohort 3, partners with Quest Ventures & Indelible Ventures", "contents": "Malaysia-based accelerator In launching Cohort 3 ScaleUp Malaysia announced that they have entered into partnerships with two venture capital firms, Singapore-based Collectively these firms bring access to partners, investors, and other networks in Southeast Asia and the United States of America, accelerating targeted growth in new times. Quest Ventures, a regional venture capital firm based out of Singapore enters its second year of partnership with ScaleUp Malaysia having worked hands-on with 20 scaleups and co-investing into 10 in the Cohort 2 program. Indelible Ventures, a US-based fund with a mandate to invest in Malaysian startups, targets tech-enabled scaleups with B2B products that have the potential to scale at an international level, making it a strategic partner moving forward. In Cohort 3, Quest Ventures will look to co-invest in up to seven companies whereas Indelible Ventures seeks to co-invest in up to five companies in this cohort. The investment partnerships will bring in a total investment of approximately $1 million (4.23 million MYR) to develop and grow Malaysian scaleups, targeting 20 companies to be shortlisted for the Cohort 3 applications. For Cohort 3, ScaleUp Malaysia is looking towards working with more scaleups eyeing the regional and global stage. \u201cLeveraging on the partners\u2019 extensive global experiences in helping scaleups scale beyond our shores is key for our Cohort 3. A fast-paced, rapid-response ethos has long been at the core of many scaleups, now more than ever especially against the backdrop of the Covid-19 pandemic. With the partnership, we look towards sustainable growth for long-term success,\u201d said ScaleUp Malaysia Managing Partner Xelia Tong said. To qualify for the Cohort 3 program, scaleups must be operating on business models that have the propensity to disrupt existing markets or have solutions that are able to navigate future challenges and take advantage of opportunities brought about by any economic climate. ScaleUp Malaysia has started to receive an overwhelming response to the applications which closes on September 2, 2021. Participants will be shortlisted based on five key criteria:\u201cIn Cohort 3 we aim to go further by helping founders expand their mindsets and refine their approaches in scaling their businesses, and in exposing them to our networks in the region and around the world,\u201d Quest Ventures Partner Jeffrey Seah said. The 20 companies shortlisted from the Cohort 3 applications will begin their accelerator journey in October 2021 before pitching in front of the Investment Committee at the end of the program. As part of the partnership, ScaleUp Malaysia Cohort 3 powered by both Quest Ventures and Indelible Ventures will invest at least $59,000 in the companies selected by the Investment Committee. \u201cWe decided to partner with ScaleUp Malaysia because we share a common high value-add approach and are aligned in our recognition that Malaysia, although under-represented in the regional VC landscape, has the talent and capability to become a leader in the region,\u201d said Indelible Ventures Managing Partner Kevin Brockland. Malaysian Global Creativity and Innovation Centre (MaGIC)ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia \u2013 helping them position their business for exponential growth. Featured image credits: "}, {"url": "https://technode.global/2021/08/24/malaysias-airasia-launches-e-hailing-services-eyes-more-acquisitions-as-it-builds-super-app/", "page": 71, "title": "Malaysia\u2019s AirAsia launches e-hailing services; eyes more acquisitions as it builds Super App", "contents": "Malaysian budget carrier AirAsia Ride was officially launched during an online event on Tuesday. Services are currently available in the Klang Valley, with expansion to more cities in Malaysia planned throughout the year. AirAsia plans to rollout the e-hailing services in other countries including Thailand, Indonesia, the Philippines, and Singapore. \u201cMalaysia is the first step. Thailand will be next and then into Indonesia, the Philippines, Singapore, etc. There will be two rollouts. [One] in Malaysia and the Asean rollout. The response from drivers has been tremendous,\u201d AirAsia Group Chief Executive Officer Tony Fernandes said in a virtual press conference. \u201cWhat sets AirAsia ride apart from others in the market would be the unique insights and data that we have due to our position as a Super App that owns an airline, and have strong vertical products on e-commerce, FinTech, logistics, and now e-hailing,\u201d AirAsia Ride CEO Lim Chiew Shan said. \u201cThis enables us to leverage on AirAsia Group\u2019s rich and vast data and algorithm to provide a seamless and connected journey experience for our passengers where they will be able to perform in-path booking for both their flights and pre-book their ride to the airport and even for their return journey at the same time, all within the convenience of one single itinerary and without having to leave the AirAsia Super App. \u201d\u201cAt the moment, we have about 1,500 registered drivers and with our nationwide expansion, we expect 5,000 more to come on board in the next 6 months,\u201d Lim said in a statement. For its e-hailing services, AirAsia Super App CEO Amanda Woo said it will inherit the DNA of running a low-cost model which enables savings to be passed on to guests and strives to offer the lowest fares on the road. \u201cThere is also the potential for AirAsia ride to integrate with Teleport, our logistics arm to complement the logistics and delivery services, tapping into the same pool of drivers for maximum efficiency and cost savings, apart from synergizing with our e-commerce verticals, supplementing our existing last-mile delivery capabilities with greater capacity and reach. Another exciting product innovation in the pipeline is partnership with electric vehicles, to spearhead the drive for sustainability in mobility for ASEAN,\u201d she added. AirAsia said drivers will take 85 percent of the net fares (excluding toll charges), higher than other ride-hailing providers in the market, making it a viable part-time job option and side income opportunity. Fares on AirAsia Ride are set at an average of 1 MYR ($0.4) per kilometer, excluding toll charges, and for added convenience passengers are able to book on-demand rides, or even pre-book their rides in advance, it added. AirAsia\u2019s e-hailing venture came as the aviation group is in the midst of building its digital businesses and its ASEAN Super App when most of its planes were grounded due to the ongoing COVID-19 pandemic. It has introduced food delivery, beauty e-commerce, among others. Its FinTech unit, BigPay, has also The group has hoped to build its Super App, modeling regional tech giants such as Grab\u2019s and Gojek\u2019s super apps which offer a variety of services including ride-hailing, food delivery, and payment services. Yet to be profitable, Grab, Southeast Asia\u2019s biggest ride-hailing-to-food delivery group, expects to complete the merger with Altimeter Growth Corp special purpose acquisition company (SPAC) by the fourth quarter of this year in a $40 billion deal. Fernandes said AirAsia is also looking for four or five acquisitions while the group continues to develop its Super App to include products and services under travel, delivery, wealth management segments, among others. His comment on more potential acquisitions also came after the acquisition of Gojek\u2019s operations in Thailand and food delivery platform Last month, AirAsia\u2019s logistics arm Teleport announced last week it is Besides offering loans for drivers, customers, and small and medium enterprises, Fernandes said AirAsia is looking at offering customers to invest in Bitcoin, unit trusts, stocks at an affordable rate. \u201cAireen [Aireen Omar, President of Airasia Digital] is also working on a \u2018fantastic\u2019 education product. And we also have health products coming. We are in discussions and looking at next acquisition,\u201d he said. The group is also working on parcel delivery, grocery, content creation, and finalizing its reward program in the Super App. \u201cWe have created Japanese Anime projects. There will be a lot more content. We have a fantastic messenger coming out,\u201d he added. \u201cWe\u2019ll never be complete [in building the Super App]. We\u2019ll always be changing, adding but the bulk I talked about will be ready by November and December,\u201d he said. Fernandes said its airline and digital businesses could be split \u201cat some point\u201d as he opined the stock market has not been giving its digital product any value. \u201cThis is for the board to decide. But certainly, if you look at the way we are positioning ourselves, there will be a split at some point, for sure. The stock market isn\u2019t giving us any value for the digital product. And so we\u2019ll have to look into that,\u201d he said. The group logistics unit Teleport was valued at $300 million. \u201cThat\u2019s more than our entire market capitalization,\u201d Fernandes added. \u201cWe have an engineering company, food company, airline services group. People have too focused on the airline business. But AirAsia Group has become a multi-company, valuable, data-driven tech company. \u201dAt the time of writing, shares of AirAsia were trading at 0.86 MYR ($0.20), valuing the airline group at 3.33 billion MYR ($789 million). AirAsia saw its net loss narrow to 767.42 million MYR ($181.59 million) in the first quarter of 2021 (1QFY21), from 803.85 million MYR ($190.22 million) a year earlier while quarterly revenue slumped 87.1 percent to 298.22 million MYR ($70.57 million) from 2.31 billion MYR ($546.62 million) in 1QFY20, as travel demand was curbed by the travel restrictions imposed by the government in January. The group announced on Monday it has postponed the release of its financial results for the second quarter ended June 30, 2021 (2QFY21) by a month from August 31 to September 30. In an interview with A few SPACs focused on technology have approached the group, and AirAsia has engaged auditors for the deal, he was quoted as saying then. AirAsia\u2019s logistics arm Teleport to acquire food delivery platform Delivereat for $9.8M"}, {"url": "https://technode.global/2021/08/23/malaysias-telecoms-infrastructure-firm-edotco-accepted-as-united-nations-global-compact-signatory/", "page": 72, "title": "Malaysia\u2019s telecoms infrastructure firm Edotco accepted as United Nations Global Compact signatory", "contents": "Edotco GroupAs a signatory, Edotco said it will be supporting the 10 Principles on human rights, labor, environment, and anti-corruption, which will be embedded as part of the company\u2019s strategy, culture, and day-to-day operations. \u201cWe will be further extending our green agenda with a focus on carbon neutrality initiatives, we will drive social responsibility through more meaningful stakeholder management, and we will be ensuring sustainable governance through implementing best practices and standards that protect our interests internally and externally,\u201d Edotco Group Chief Executive Officer Adlan Tajudin said in a statement on Monday. \u201cThese practices are not new to us at edotco, just moving forward we will be reporting them within edotco\u2019s ESG framework to ensure we are benchmarking ourselves to the right practices in the industry. We understand that investors and even the general public view an organizations\u2019 responsibility as beyond profits and solutions, and we want to show everyone that we take our environmental and social commitments seriously. Similarly, in our ongoing efforts to further enhance our governance and accountability, Edotco is aligned to Axiata\u2019s Group initiatives in promoting good governance across our footprint,\u201d he added. UNGC is the largest corporate sustainability initiative in the world, with more than 12,000 members from over 160 countries. It is a call to companies to align their strategies and operations with the UNGC 10 Principles, and to take shared responsibility for advancing broader societal goals such as the UN Sustainable Development Goals (SDGs). \u201cWe are delighted to welcome Edotco as part of a global movement for sustainable business, and aligning their sustainability agenda with United Nations Global Compact 10 Principles as the telecommunication industry is a significant contributor towards a sustainable world. Building on the good work currently being done by Edotco, we look forward to working together to strengthen Edotco as a sustainability sector leader nationally and globally,\u201d said Faroze Nadar, Executive Director for UN Global Compact Network Malaysia & Brunei. It is a key requirement for UNGC members to submit a Communication of Progress (COP) within one year of their participation and thereafter on an annual basis. In support of public accountability and transparency, Edotco will be reporting its efforts via the submission of a signed statement by the chief executives expressing their continuous commitment, a description of practical actions as well as the measurement outcome in both quantitative and qualitative manners. Edotco\u2019s move comes at a time when corporations in Asia and Southeast Asia are placing more emphasis on ESG-related business practices and strategy, following global trends. Established in 2012, Edotco Group is the first regional and integrated telecommunications infrastructure services company in Asia, providing end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy, transmission and operations and maintenance (O&M). Edotco operates and manages a regional portfolio of over 34,000 towers across core markets of Malaysia, Myanmar, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, and Laos. United Nations Global CompactWe need contextualized solutions to address sustainability challenges across Southeast Asia [Q&A with Durwin Ho for Startup Weekend Singapore 2021]"}, {"url": "https://technode.global/2021/08/20/political-uncertainties-in-malaysia-seen-as-short-term-risks-tech-investors-say/", "page": 72, "title": "Political uncertainties in Malaysia seen as \u2018short-term risks\u2019, say tech investors", "contents": "The political uncertainties in Malaysia following the resignation of its Prime Minister are seen as \u2018short-term\u2019 risks as the tech industry in the country is expected to continue its growth momentum amid the ongoing COVID-19 pandemic, according to tech investors. Muhyiddin Yassin stepped down as Malaysia\u2019s eighth prime minister on Monday after losing his parliamentary majority after 17 months in office. Malaysia\u2019s Cabinet has also been dissolved following his resignation. Malaysia is set to have a third prime minister and Cabinet within three years. On Friday, the palace Istana Negara said Malaysia\u2019s King Al-Sultan Abdullah has appointed Ismail Sabri Yaakob as Malaysia\u2019s ninth prime minister. In a statement on Friday evening, the palace said Ismail Sabri, who was the Deputy Prime Minister in Muhyiddin\u2019s government, will be sworn in as Malaysia\u2019s ninth prime minister on Saturday at 2:30 PM at the palace. The resignation of Muhyiddin and the appointment of a new PM came as Malaysia\u2019s daily COVID-19 cases have been hitting a new daily high despite the rollout of the vaccination program since the beginning of the year. On Friday, Malaysia posted 23,564 COVID cases, crossing the 23,000 mark for the first time. On Tuesday, Fitch Solutions Country Risk & Industry Research said continued government instability in Malaysia will continue to undermine investor confidence. \u201cHowever, given that the government has appeared unstable for months, Muhyiddin\u2019s resignation itself is unlikely to prove a surprise to the markets and we do not expect an outsized impact on both the equity and bond markets in Malaysia,\u201d it wrote in a note. Venture capitalists VCs typically take a long-term view when they invest in tech startups, venture capitalists told \u201cPolitical uncertainty has little effect on investors\u2019 confidence in Malaysian startups. As we know this is just a short-term risk,\u201d \u201cLong term concerns that we should be watching are which segments are heavily affected due to COVID-19 and the changing consumer behavior instead,\u201d Hor said in a brief interview. Malaysia\u2019s private equity and venture capital markets have been lagging as compared to its peers. According to DealStreetAsia\u2019s report This was despite a jump in the number of deals. Malaysia registered 79 deals in total in 2020, more than double the 36 inked in the previous year. In comparison, Singapore recorded 280 deals with a combined value of $3.66 billion, followed by Indonesia with 134 deals and $3.37 billion in total funds raised. Another Malaysia-based venture capitalist Ng Sai Kit said he expects the tech ecosystem in Malaysia will continue to grow as tech investors focus on a longer-term outlook. \u201cVCs are about patient capital and not investing in the short term. The ecosystem will grow, nevertheless. The pandemic has amplified the importance of the digital economy,\u201d he told \u201cInvestors will focus on a longer-term outlook. This may be an excellent time to position for recovery from the pandemic. A short-term political whirlwind should not have much impact on most investment decisions by VCs in the tech sector,\u201d he explained, concurring Hor\u2019s view. Ng, however, warned that prolonged political uncertainty may slow economic recovery. On Monday, Fitch Solutions has slashed Malaysia\u2019s 2021 gross domestic product (GDP) growth to 0 percent from its earlier estimate of 4.9 percent. The revision came as the second quarter 2021 GDP growth numbers were below its expectation, at 16.1 percent year-on-year (YoY) but a contraction of 2 percent quarter-on-quarter. The research unit of the Fitch Group noted that the daily COVID-19 cases in Malaysia have not come down despite the nationwide lockdown. Meanwhile, with a new prime minister, followed by a new Cabinet soon, Ng hopes there will be more improvements in regulation and policies to help build the private fund management sector and transactions of privately-held entities. \u201cSome fiscal policies stimulating the deployment of capital in venture capital/private equity space will be welcomed,\u201d he added. Earlier, \u201cAlthough a period of political uncertainty may occur in Malaysia given the resignation of Prime Minister Muhyiddin Yassin, we expect the country\u2019s credible and effective institutions to limit the impact on its macroeconomic policies and credit profile as demonstrated over past episodes of abrupt political change,\u201d said Moody\u2019s Investors Service Vice-President \u2013 Senior Analyst Christian Fang on Monday. He said the coronavirus pandemic remains the key risk in Malaysia, as the elevated number of new infections and ongoing restrictions \u2013 although less stringent compared to the second quarter of 2020 \u2013 will continue to weigh on the economic recovery this year. \u201cAs such, if fiscal deficits remain wide for some time because of further economic stimulus or weak revenue, resulting in a persistent rise in the government debt burden that fiscal authorities are unable to reverse, this has the potential to materially weaken Malaysia\u2019s credit profile,\u201d he added. As for the stock market, analysts expect market sentiment to remain soft until more clarity on the political situation. \u201cWe expect market sentiment to remain soft until more clarity on the political situation surfaces. During the last political crisis in Feb 2020 following the \u2018Sheraton Move\u2019, the KLCI fell -4.2 percent during the week that there was no ruling government in place,\u201d Hong Leong Investment Bank said in a note on Tuesday. \u201cFrom a market perspective, policy continuity, particularly on the vaccination rollout and economic reopening, is our key concern from this political fluidity. Our 2021 GDP forecast is 3.1 percent and year-end KLCI target at 1,580 (15.7 times price-to-earnings ratio),\u201d analysts Jeremy Goh and Felicia Ling wrote. On Friday, the benchmark FTSE Bursa Malaysia KLCI closed 0.2 PERCENT higher at 1518.03. The KLCI was up 1.4 percent from 1496.74 on Monday."}, {"url": "https://technode.global/2021/08/19/malaysias-home-finishing-product-marketplace-homa2u-bags-567k-funding/", "page": 72, "title": "Malaysia home finishing product marketplace HOMA2U bags $567K funding", "contents": "Malaysia-based building materials and home finishing product marketplace The total raised amounted to 2.4 million MYR ($567,000), HOMA said in a statement. Prior to that, Malaysia-based accelerator ScaleUp Malaysia with investment partner Quest Ventures Pte Ltd invested via the ScaleUp Malaysia\u2019s Accelerator program where HOMA is one of the top 10 startups from the Cohort 2 batch. As Malaysia\u2019s first full-fledged overstock platform for home improvement, HOMA looks towards prioritizing the sustainability factors in their day-to-day business operations to reduce the environmental impact. \u201cSustainability has become a trend in home renovation and design. When considering sustainability, trending items are not just about what is fashionable, it\u2019s also about doing the most for our environment. By championing the notion of reducing, reuse, and repurpose, our strategy includes acquiring building materials and interior finishes products from unused construction materials, discarded materials, and overstock markets,\u201d HOMA Founder Pennie Lim said. \u201cWith the fundraise intact, we are able to put efforts towards building and extending more revenue streams rather than sticking to one at the moment which is just profit from products sold,\u201d she added. \u201cHOMA has been thoughtful and strategic in their approach to scaling nationwide and we are confident that HOMA will grow even stronger when they go beyond the Malaysian shores too when the time comes,\u201d said Warisan Quantum Management Managing Director Joehary Ismail. HOMA is a platform that offers building material and home finishing products at bargains. Founded in 2017, HOMA has repurposed more than 20 million ringgit worth of overstock inventories to more than 8,000 homes. The platform currently houses more than 500 professional profiles including architects, interior designers, and contractors. HOMA is also an alumnus of Cradle Fund\u2019s Coach & Grow Program Cohort 5 Batch (CGP5). HOMA currently serves Kuala Lumpur and Johor Bahru markets. It plans to expand to 10 more new locations by 2022 and targets to reach the 100 million ringgit milestone by 2024."}, {"url": "https://technode.global/2021/08/18/airasias-logistics-arm-teleport-acquires-food-delivery-platform-delivereat-for-9-8m/", "page": 72, "title": "AirAsia\u2019s logistics arm Teleport to acquire food delivery platform Delivereat for $9.8M", "contents": "Malaysia\u2019s low-cost airline AirAsia Group Bhd\u2019s logistics arm Teleport has signed an agreement to acquire Malaysian online food delivery platform Delivereat in a deal valued at$9.8 million. The deal values Teleport at $300 million and welcomes investors, including Kuala Lumpur and Shanghai-based venture capital firm As part of the acquisition, Delivereat\u2019s founders Leong Shir Mein and Tan Suan Sear will be joining the management team at Teleport and AirAsia Digital. Subject to final approvals, Teleport expects the transaction to close by the third quarter of 2021. \u201cWith Delivereat joining forces with Teleport, we will be able to drive further growth of fast and affordable delivery transportation options within our key markets as e-commerce continues to surge,\u201d AirAsia Group Chief Executive Officer Tony Fernandes said. \u201cAs a long-time investor of Delivereat, Gobi Partners will also join Teleport\u2019s cap table and we are proud to welcome them onboard. With a valuation of $300 million and the support from a growing list of strategic partners and investors, Teleport is well on its way to become the leading logistics player in the region,\u201d he added. The acquisition of Delivereat comes as AirAsia launched food delivery services AirAsia Food in Penang, the home of Delivereat, and soon to expand to Johor Bahru, Ipoh, Kuching, and more, according to AirAsia Super App CEO Amanda Woo. \u201cWe are happy to welcome them into the AirAsia family and we look forward to working with Suan Sear and Shir Mein to grow and expand our merchants in AirAsia Food in these cities when we onboard Delivereat\u2019s merchants to our platform in the months to come. \u201dThe acquisition also came after AirAsia announced it will AirAsia has shifted its focus towards digital business and building its Super App as most of its fleet remains grounded amid coronavirus restrictions. Its FinTech arm BigPay has also applied for a digital banking licence in Malaysia. Founded in 2021, Delivereat has since grown to deliver more than one million orders to date, and offers food and express delivery services on an on-demand basis from more than 4,000 merchants (consisting of restaurants, wet markets, pharmacies and groceries), carried out by its fleet of up to 4,000 registered delivery partners. Delivereat covers Penang and the Klang Valley, leading the food-delivery space with the largest selection of hawkers in Penang with up to 1,000 hawkers, and is the first to allow customers to combine multiple orders within the same delivery. Delivereat announced in 2017 that it has raised a $450,000 pre-series A funding round led by Gobi MAVCAP\u2019s ASEAN Superseed Fund. Founded in 2018, Teleport is a venture under Airasia Digital. Leveraging on AirAsia\u2019s network, Teleport\u2019s ambition is to deliver door-to-door in under 24 hours across Southeast Asia. Currently, Teleport is present in Malaysia, Thailand, Indonesia, the Philippines, India, Singapore and China. Teleport posted an EBITDA of 3.17 million MYR (~$748,500) in the first quarter of 2021, down from 63.18 million MYR (~$14.9 million) in Q1 2020, according to AirAsia\u2019s financial statement. The other businesses under AirAsia Digital including AirAsia Super App, BigPay and other digital entities were still loss-making. AirAsia to acquire Gojek\u2019s Thai operations for $50M via share swap deal"}, {"url": "https://technode.global/2021/08/18/airasia-partners-insurtech-startup-policystreet-to-provide-digital-car-insurance-service/", "page": 72, "title": "AirAsia partners with InsurTech startup PolicyStreet to provide digital car insurance service", "contents": "Malaysia\u2019s low-cost airlineThe digital car insurance service includes insurance and road tax renewal and allows car owners to make price comparisons of various insurance providers. It also offers add-on coverage such as windscreen, flood, extra drivers, and road tax home delivery service. The development also came as AirAsia is in the midst of building its non-airline, digital businesses, and Super App as most of its planes were grounded due to the ongoing COVID-19 pandemic. Its FinTech arm \u201cCustomers can expect more FinTech offerings on the AirAsia Super App as we continue to strengthen, innovate and stay relevant in the market through AirAsia Money,\u201d AirAsia Super App Chief Executive Officer Amanda Woo said in a statement on Tuesday. \u201cMuch like how AirAsia has allowed everyone to fly, AirAsia Money will give the common man accessibility to some of the best financial services available in the market. \u201dThe partnership with PolicyStreet allows Airasia Money to offer digital car insurance from underwriters in Malaysia such as Tune Protect Group Bhd, AXA Affin General Insurance Bhd, among others. PolicyStreet also complements AirAsia Super App\u2019s strategy with its digital platform powered with API, real-time technology, and integration with 10 insurers, AirAsia said. \u201cWith this integrated solution, AirAsia customers can seamlessly buy insurance policies at their fingertips. We have also partnered with insurers to bring down the cost of insurance exclusively for AirAsia customers,\u201d PolicyStreet CEO Lee Yen Ming said. PolicyStreet\u201cAirAsia Money expansion plan is on track as we will be launching our offerings in Indonesia in the fourth quarter of 2021 (Q4 2021), insurance and investment services in Malaysia in Q4 2021 and digital car insurance premium installment plans in Q1 2022,\u201d Mohamad Hafidz Mohd Fadzil, Head of AirAsia Money said. AirAsia launched AirAsia Money in April, partnering with financial comparison platform RinggitPlus to provide financial products and services in its Super App. Last year, Malaysia-based PolicyStreet raised $ 1.8 million in a Series A investment, led by Singapore-based KK Fund, an existing investor of PolicyStreet. The investment round also saw participation from Singapore-based venture capital fund Spiral Ventures. Featured image credits: AirAsia\u2019s BigPay teams up with state-linked MIDF, PE firm Ikhlas Capital for digital banking license in Malaysia"}, {"url": "https://technode.global/2021/08/18/axiata-rhb-consortium-digital-bank-license-malaysia/", "page": 72, "title": "Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A]", "contents": "Editor\u2019s note:Axiata-RHB consortium is often seen as one of the forerunners to win a digital banking license in Malaysia as tWhile the consortium is joining a crowded field vying for digital bank licenses, partnering with RHB Bank Bhd is seen as a good move, according to analysts. Axiata\u2019s experience and expertise in operating an e-wallet also help. \u201cAlthough it is not really a necessity, in our opinion, we believe that partnering with banks will give some benefit to the consortiums as banks can provide experience in regulatory, risk management and credit evaluation,\u201d MIDF Research Vice President Imran Yusof told Experience from e-wallet providers will be useful in terms of deposit-taking, client acquisition, and understanding the market of such products, he added, although the research house cannot be entirely certain on how this will be evaluated by Bank Negara Malaysia. Malaysia central bank announced As equity partners in the consortium, Axiata has controlling interests in six mobile operators under the brand names of \u2018Celcom\u2019 in Malaysia, \u2018XL\u2019 in Indonesia, \u2018Dialog\u2019 in Sri Lanka, \u2018Robi\u2019 in Bangladesh, \u2018Smart\u2019 in Cambodia and \u2018Ncell\u2019 in Nepal, as well as minority interests in \u2018Idea\u2019 in India and \u2018M1\u2019 in Singapore. Axiata Digital, the digital services arm of the government-linked telco conglomerate, has recently rebranded its fintech arm Boost Holdings to Boost, unifying all fintech services that span payment services, alternative lending, digital insurance, content services, and merchant solutions under one roof. It owns and operates Boost e-wallet andThe Khazanah Nasional-backed telecoms firm has been busy expanding its digital service business including digital marketing business under ADA, which saw Japan\u2019s SoftBank Corp investing $60 million into the business in May. Axiata\u2019s Malaysia mobile operator Celcom Axiata Bhd is also in the midst of merging with Telenor\u2019s Digi. com Bhd, the third-largest mobile services company in Malaysia. The merged entity will have a subscriber base of 19 million. RHB Banking Group, on the other hand, is a multinational regional financial services provider with a presence in 9 countries in the ASEAN region, with more than 14,000 employees. Its core businesses are structured into five business pillars, namely Group Community Banking, Group Wholesale Banking, Group Shariah Business, Group International Business, and Group Insurance. Earlier in June, Axiata Digital CEO Mohd Khairil Abdullah told DealStreetAsia in an interview that the group has been working with the country\u2019s central bank for a few years to ensure that it meets the regulatory requirements that can eventually help it secure the license when he expressed his optimism for the consortium\u2019s application. \u201c\u2026 while we do not want to count our eggs before they hatch, we think we do have a solid chance,\u201d he was quoted as saying. In an interview, Boost Chief Executive Officer Sheyantha Abeykoon told \u201cDigital banks will be better positioned and equipped to meet the needs of the underserved and unserved markets, with their business needs. With mobile-only banking products offer simplicity, ease of access, and often lower fees, they are the next frontier of financial innovation towards financial inclusivity, primarily dominated by traditional banks,\u201d Sheyantha said. Digital banks will complement the offerings of traditional banks to provide solutions to the segments that they do not currently serve. It is less of a market disruption than enhancing the range of financial products and financial inclusion of the underserved market by co-existing with traditional banks, he opined, when asked about how digital banks will have an impact on the banking sector in the short and long run. In the interview, he also shared how the consortium will position the digital bank should the consortium were granted a license and what are the competitive edge the consortium has against other contenders. Does the Axiata-RHB consortium have what it takes to win a digital banking license in Malaysia?Let\u2019s hear from Sheyantha:The pandemic situation has changed how businesses operate. There is a tendency towards business digitalization with a clear digital presence to improve efficacy and competitiveness, as consumers cannot visit brick-and-mortar branches in person. The stage is set for digital financial services to thrive as small and medium enterprises (SMEs) start to value digital financing products and services:Digital banks will be better positioned and equipped to meet the needs of the underserved and unserved markets, with their business needs. With mobile-only banking products offer simplicity, ease of access, and often lower fees. They are the next frontier of financial innovation towards financial inclusivity, primarily dominated by traditional banks. Visa\u2019s recently released Consumer Payment Attitudes study highlighted that over 74 percent of Malaysians are aware, and 66 percent are interested in using digital banking services. The study showed that Malaysians look forward to the digital banking experience for their basic banking needs, with the highest interest to use digital banking services for bill payments (78 percent), transferring money to family and friends (69 percent), payment at retail locations (62 percent) and deposits and withdrawals (61 percent). The study also showed that Malaysians are motivated to switch to a digital bank for better rewards (78 percent) and lower costs (72 percent). We are not starting from scratch. As the FinTech holding arm under Axiata Digital leading the digital bank bid, Boost Holdings has already had a track record and experience serving the underserved and unserved segments since 2017. Through partnering with an established bank and like-minded partner like RHB \u2014 no stranger to digitalization, we can tap into their inherent know-how and capabilities in governance and regulations in running a bank to enhance our digital bank venture. We believe our business model from the get-go resonates with the core aspirations of digital banking. We work closely with our like-minded partners in commercial and strategic to build a robust digital socio-economy for our target segment. As we complement our partners\u2019 strengths and weaknesses and vice-versa, we believe we have a winning combination of innovative experience, captive relationships, responsive controls, and a credible team to present compelling value, which gives us an advantage. What differentiates us:For instance, our existing micro-financing platform offers 100 percent digital financing ranging from 1,000 MYR to 100,000 MYR (~$236 to $23,600), which covers supply chain financing and working capital financing that integrates into customers\u2019 back-end and simplifies their business. Furthermore, our products are Commercial segment:However, the digital adoption among SMEs in Malaysia lags behind larger enterprises, according to World Bank. Consumer segment:According to global consulting firm Bain & Company, around 55 percent of Malaysia\u2019s adult population is still underbanked and unbanked. According to a KPMG survey, 77 percent of the 1,220 respondents in Malaysia believe that digital banking is the next evolution in financial services. More than 80 percent of the respondents are already using the internet banking functions of their banking service providers. Given lockdowns and physical distancing measures, it will accelerate this growth with consumers increasingly requiring access to financial services in the new normal. There is plenty of room to grow in Malaysia in serving the underserved and unserved segment. It is still too early to talk about the digital bank strategy as we have yet to secure a license from Bank Negara. However, we have been actively serving the underserved businesses that do not have access to the full spectrum of financial services. For instance, a family-run food stall with only one or two owners may require small working capital to fund their business but do not have traditional financing access. These individuals or micro/nano businesses cannot seek support from traditional banks due to insufficient documentation, or their financial history does not fit the banks\u2019 requirements. Therefore, we support them with micro-financing and micro-insurance offerings to sustain their businesses, helping them get the income source as they struggle to make ends meet during this challenging period. We offer end-to-end digital financial services that serve and empower micro-enterprises and SME businesses. Through emerging technologies such as machine learning, AI Big Data processing, and robotic process automation (RPA), we eliminate stacks of paperwork and long wait times, thus providing a rapid, fully digital financing experience to customers. The micro-financing application only takes 3 minutes online, especially on its user-friendly digital application on any device. Applicants can expect fast processing and turnaround time. Once approved, the financing amount will be deposited into the applicants\u2019 registered bank account within 48 hours. Bank Negara Malaysia has said their primary consideration is applicants who can deliver the core value proposition and prioritize outcomes instead of the types of institutions. Successful applicants must demonstrate capabilities that meet all prudent criteria to contribute towards greater financial inclusivity by offering products and services to address market gaps in the underserved and unserved segments. This includes promoting suitable and affordable financial solutions by leveraging the innovative application of technology. Beyond this, we cannot speculate what the regulator emphasizes. At Boost Holdings, we are already serving the underserved and unserved segments and will continue to do so. The digital banking license will help us close the gap and stitch various parts of our business to enhance the synergies between them. Digital banks will complement the offerings of traditional banks to provide solutions to the segments that they do not currently serve. It is less of a market disruption than enhancing the range of financial products and financial inclusion of the underserved market by co-existing with traditional banks. Traditional banks\u2019 risk appetite is more profoundly and comprehensively accessed, with their current product offerings mainly cater to the preferred customer segments only. Most MSMEs who fall into the unserved or underserved segment are more likely than others to have a deficient profile to the bank\u2019s minimum requirement. They will need an institution that can provide them with access to customized services that match their profile and behavior, micro-savings and deposits, micro-financing, and micro-insurance are some of the basic products needed. Besides that, the digital bank will also offer a different kind of experience. Existing incumbents are limited in their ability to deep dive into data analytics using big data because of constraints that they may have with the legacy infrastructure, which digital banks would not as they would start fresh. It is still too early to ascertain profit, risk, and challenges of digital banks as we have yet to secure a license. However, having ventured into digital financial services since 2017, we continue demonstrating our competencies and capabilities to support micro-SMEs, underserved and unserved businesses, and individuals through our comprehensive digital products and offerings. Our successes are backed by our expertise, advantage, and partnerships locally and overseas to grow our ecosystem and reach our target segment. We are also pleased to see that through our digital platforms, micro-SMEs are encouraged to embrace technology and become a part of the digital economy as they continue their business aspirations during this pandemic season. Our business model and practices that we put in place have stood the test of time. We even passed the COVID-19 test, so we are fairly confident. But it does not mean we are getting complacent. We will continue to test our business model and refine what we want to do based on our technology\u2019s advantage in data science, AI, and machine learning for the underserved and unserved segment. Featured image credits: BigPay banks on AirAsia\u2019s ecosystem, consortium\u2019s banking expertise to vie for digital banking license in Malaysia [Q&A]"}, {"url": "https://technode.global/2021/08/16/sunway-ilabs-announces-top-5-startups-for-its-2021-super-accelerator-program/", "page": 72, "title": "Sunway iLabs announces top 5 startups for its 2021 Super Accelerator program", "contents": "Malaysia-based conglomerate Sunway Group\u2019s innovation arm, The accelerator program, kicked off together with Kuala Lumpur and Shanghai-based venture capital firm Gobi Partners last month, was completed with 23 startups in a pitch competition to a panel of judges. The top five startups of this third cohort come from various industries, specifically Agrifoodtech, Fintech, Proptech and Travel & Hospitality Tech. They are:\u201cWe\u2019re excited to work closely with the selected top five startups, which show great growth potential as well as alignment with our Sunway business divisions and ESG goals. One of the key criteria we adopted in selecting the top startups included social impact and sustainability, which we continue to measure as a metric of success,\u201d Sunway Group Chief Innovation Officer and Sunway iLabs Director Matt Van Leeuwen said. \u201cWe look forward to supporting these founders in their entrepreneurial journey to grow their company through the mentors, market access, and funding as part of our iLabs Super Accelerator Program,\u201d he added. In the next three months of the Super Accelerator program, Sunway iLabs will help the selected top five startup founders connect with Sunway\u2019s global network of partners, industry experts, mentors, and investors. The startups will work closely with the Sunway iLabs team to run a pilot project to validate the product with one of Sunway\u2019s business divisions and tap into Sunway\u2019s regional market access of SMEs, residents, students, and employees, among others, Sunway iLabs said. The startup founders will also continue to receive mentorship and guidance from industry and technical experts. At the end of the three-month Super Accelerator program, the startups will present their innovations and traction to potential investors through a final Demo Day. \u201cGobi is looking forward to supporting their growth for the next three months and beyond!\u201d Gobi Founding Partner and Chairman Thomas G. Tsao said. Launched in 2017, Sunway iLabs is structured as a unique, non-profit, smart partnership between Sunway Group, Sunway Ventures, Sun SEA Capital, and Sunway University. Gobi Partners is one of the longest-standing venture capital firms with a Pan-Asian presence across North Asia, South Asia, and ASEAN with over $1.1 billion in assets under management (AUM). The firm, headquartered in Kuala Lumpur and Shanghai, supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 13 funds to date, invested in over 270 startups, and has grown to 13 locations, across Bangkok, Beijing, Dubai, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, and Singapore."}, {"url": "https://technode.global/2021/08/13/challenges-and-opportunities-as-buy-now-pay-later-shopping-gains-traction-in-malaysia/", "page": 72, "title": "Challenges and opportunities as Buy Now, Pay Later shopping gains traction in Malaysia", "contents": "Kuala Lumpur-based Lau Chi Yan, 33, bought an oven online using Grab\u2019s Pay Later services when the ride-hailing and payment firm ran a cash rebate promotion in Malaysia in June. As a new user, she received a rebate of 65 MYR ($15.34) with minimum spending of 150 MYR ($35.40), equivalent to a 43.33 percent discount on the product. This was her first time using Buy Now Pay Later (BNPL) service, she told\u201cI think BNPL can help merchants to stimulate spending, especially when times are bad. I was given the option to pay a month later or in four monthly installments, at zero interest. It gives flexibility and allows me to pay when I get my salary next month,\u201d said Lau, who saw Grab\u2019s advertisement on an Instagram story. Grab is giving her 650 MYR ($153.39) \u201ccredits\u201d per month. Lau thinks this service is especially useful as she has yet to own a credit card. Her earlier applications with two banks were rejected. Lau said she is now considering using the BNPL service provided by another company, to buy a branded Bluetooth speaker which allows her to spread the cost over three months. The BNPL model, which has started to gain traction in Malaysia, offers consumers short-term payment plans that allow them to make a purchase first and pay for it over time. BNPL firms said the service enables consumers to manage their budgets when making purchases while opening up a new segment of customers for merchants, including young millennials with fixed budgets, tech-savvy, and those who do not own credit cards. In recent months, super app Singapore-based BNPL startups The development also came as Malaysia is still in lockdowns where most shops except for food and beverages, and essential services were not allowed to operate to contain the COVID-19 pandemic. Newly infected cases have been hitting all-time-high, breaching the 20,000 cases per day threshold despite the rollout of the vaccination program. The ongoing pandemic has helped to accelerate the uptake of BNPL as commerce increasingly moves online and consumers look for alternatives to better manage their finances. The payment option enables consumers to avoid increasing credit card and other debts as many BNPL solutions offered are interest-free with no hidden costs. Zero-interest easy payment services are not new in Malaysia as many credit cards and financial institutions are already offering such services for the purchase of electrical devices, mobile devices, furniture, jewelry, among others. BNPL, however, allows consumers to split the cost for smaller-ticket items, with no interest charges and without having to own a credit card. Merchants could use the BNPL model to increase overall sales, increase average order value, and alluring shoppers to make bigger ticket purchases. The easy and convenient sign-up process and minimal credit check allow shoppers to buy first and worry about payment later, helping to lower or even remove shoppers\u2019 buying hesitations. Merchants will pay a commission to BNPL players while those who make payments late will be subjected to a penalty fee. Malaysia-based artisan chocolatier About 15 to 20 percent of its transactions were paid through Atome since the chocolate brand launched the service. Love18C sells artisan chocolates priced from 22 MYR ($5.20) online and at its three outlets in Malaysia. \u201cAtome\u2019s regional footprints is a plus point for us to explore regional partnerships and scaling of businesses. In fact, we just signed up with them for our Singapore launch and soon other regional countries too,\u201d he said. Lee said BNPL also helps the company to tap on digital-savvy and younger generation consumers. \u201cCredit cards don\u2019t offer very strong support for small and medium enterprises (SMEs). In contrast, we have been involved in several Atome\u2019s marketing campaigns where they push our brand to their user base, bringing new leads back to our sales channels,\u201d he said. \u201cWe can also understand our customer behavior (online and offline) better through Atome merchant dashboard and business data analytics. This is a tool that helps us a lot, and we don\u2019t see it in any traditional payment channel,\u201d he added. \u201cThe launch of Fave\u2019s(the) BNPL service comes in very timely as many retail businesses are struggling and are looking for new ways to bring back up their sales and close the gap during the long months of the pandemic,\u201d Fave Chief Executive Officer Joel Neoh told \u201cCustomers can now stretch their payments to over three months and afford their purchases across fashion, electronics, beauty salons, to pharmacies or grocery bills while merchants get their payments upfront in full. This could be a win-win solution for both customers and merchants,\u201d he said. BNPL startups also see opportunities in serving consumers who do not own a credit card or lack access to credit. \u201cMost adults in Malaysia have bank accounts and debit cards but lack access to basic forms of credit; BNPL alternatives are either inaccessible or potentially predatory to consumers. Coupled with a close to $200 billion e-commerce and retail market, this makes Malaysia one of the best markets in SEA to launch and scale a BNPL company,\u201d Split Co-Founder and Chief Executive Officer Dylan Tan told Founded in 2018, the startup backed by US-based venture capital firm \u201cWhen we first pivoted from travel to e-commerce and retail, we discovered that there was a remarkable adoption of our service and we found a strong product-market fit fairly quickly in the market. We then began seeing our users and merchants growing fast in numbers. It took us about five months from the time we launched our platform to transact our first $1 million and now we\u2019re delivering more than $1 million a month in revenue to all our merchants,\u201d Tan shared. \u201cToday we have tens of thousands of active users and more than 600 merchants signed to offer Split to their customers,\u201d he added. According to the Q4 2020 BNPL Survey, BNPL payment in Malaysia is expected to grow by 72.3 percent on an annual basis to reach $468.2 million in 2021. BNPL payment industry in Malaysia has also recorded strong growth over the last four quarters, supported by increased e-commerce penetration along with the impact of economic slowdown due to disruption caused by the COVID-19 outbreak, according to a report recently added to ResearchAndMarkets. com. The report also said the medium- to long-term growth story of the BNPL industry in Malaysia remains strong. \u201cThe BNPL payment adoption is expected to grow steadily over the forecast period, recording a compound annual growth rate (CAGR) of 24.6 percent during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from $271.8 million in 2020 to reach $2,187.7 million by 2028,\u201d the report wrote. Atome, which launched its services in Malaysia during the fourth quarter last year with over 100 merchant partners, has now expanded to over 500 merchant partners in the past six months. \u201cThe response has been very positive since our launch. Order volume grew by 100 times and the merchant network grew 5 times from January to June this year. Retailers have experienced an average 17 percent increase in ticket order size since adding Atome as a payment checkout option,\u201d Atome Malaysia and Singapore General Manager Trasy Lou-Walsh told The firm, which is a subsidiary of Singapore-based big data firm Advance Intelligence Group,is partnering with over 5,000 online and offline retailers in nine markets including Singapore, Indonesia, Malaysia, Hong Kong, Taiwan, Vietnam, Philippines, Thailand, and China. Singapore-based Hoolah, backed by Allectus Capital, Genting Ventures, iGlobe Partners, has already seen strong growth in its services even prior to COVID-19. \u201cWe were already seeing strong growth and momentum prior to COVID-19; this was propelled further with the rise of e-Commerce when the pandemic hit. Consumers are shopping a lot more online, and retailers are also increasingly looking at digital channels to ensure their customers could enjoy a seamless shopping experience,\u201d Hoolah Co-founder and CEO Stuart Thornton said. With the pandemic stretching on, people are becoming more thoughtful about price and appreciate the importance of personal cash flow. With a BNPL solution like Hoolah, they get to stretch their monthly budgets by paying just one-third of their purchase upfront, he said. \u201cWhether a small brand starting up, a well-known brand scaling or a large global brand expanding, they are all connected by a common need \u2013 to access consumers, drive conversion and basket size and incentivize repeat purchases,\u201d Thorton explained. \u201cMalaysia has always been a key part of our strategy \u2013 it is a market with 32 million people, low credit penetration and a government focused on responsible spending, and a requirement to digitize the economy,\u201d he said. \u201cThe further validation was demand from our merchants who we worked within Singapore to bring Hoolah to Malaysia,\u201d he added. Some of these startups are not only eyeing opportunities in Malaysia but across the region. Launched in Malaysia in 2019, Hoolah has seen tremendous growth in the past year, growing 600 percent in order volume during the period between May 2020 and May 2021, Hoolah\u2019s Thorton said. \u201cAcross the region, we\u2019ve seen a 400 percent growth in users, and total transaction volume 2300 percent year-to-date with topline sales over growing 1,100 percent. \u201dThe startup, which is in the midst of preparing its Series B funding, plans to launch its services in Thailand and the Philippines this year while setting an eye on expansion in other Asia markets such as South Korea, Japan, Taiwan, Vietnam, and Indonesia. \u201cUltimately, we want to connect merchants with consumers across Asia, and enrich the consumer\u2019s lifestyle,\u201d Thorton said. Almost 400 million of the adult population in Southeast Asia are \u2018underbanked\u2019 or \u2018unbanked\u2019 with limited options for credit, Fave\u2019s Neoh said. \u201cBNPL is redefining how customers get and use credit, and we believe that it has immense potential to grow in markets where access to credit is limited and has high entry barriers,\u201d he said. \u201cLooking at the accelerating e-payment transactions and BNPL market size in the region, we see a huge potential in BNPL becoming a preferred way for customers to purchase goods and services,\u201d he said, adding that Fave plans to expand its BNPL offering to some of the leading e-commerce companies in Southeast Asia in the latter half of 2021. Elsewhere, BNPL has seen strong growth in Europe, United States, Australia for some time, although it is starting to stir concerns among regulators that it could cause youngsters, who are often seen as financially naive, to overspend and be lured into debt traps. The global BNPL market is on a rapid uptrend and is projected to surge 400 percent to $352 billion by 2025 from $89 billion in 2020. The BNPL sector is estimated to process $680 billion worth of transactions in 2025, translating to a compound annual growth rate of 13.23 percent, according to research data analyzed and published by online trading portal Comprar Acciones in February. Earlier this month, it was reported that Square Inc, the US payments firm of Twitter Inc co-founder Jack Dorsey, will purchase BNPL pioneer Afterpay Ltd for $29 billion. Apart from FinTech startups, Bloomberg reported last month iPhone maker Apple Inc is working on a new service known as Apple Pay Later that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the BNPL offerings popularized by PayPal Holdings Inc and Affirm Holdings Inc. The service will use Goldman Sachs Group as the lender for the loans for the installment offerings, according to the report. Visa, the credit card giant, has rolled out pilot BNPL services in the US, Canada, Russia, and Malaysia. It has set up a BNPL website for credit card issuers, according to a report last month. BNPL players are gaining investor interest as the model is getting popular among consumers and merchants, driven by the shift to online purchases amid pandemic and relatively loose regulation. BNPL is also seen as the most \u201chappening\u201d area within the FinTech space, regionally and globally. Some of the success stories continue to encourage investors to fund BNPL startups in Southeast Asia. Startups and investors are hoping to repeat these successes as the Southeast Asia region has yet to see regional or international BNPL giants seen in the US or Europe which are able to command multi-billion valuations. Last week, US payments firm Square Inc said it will purchase BNPL firm Afterpay Ltd for about $29 billion in Australia\u2019s biggest-ever buyout, in a bid to create an online payment giant to tap into explosive growth in the niche payments sector. Singapore wealth fund GIC-backed BNPL firm Affirm raised $1.2 billion in its IPO on NASDAQ in January. The firm is valued at $18.19 billion, based on its share price of $68.62 on Thursday. Swedish BNPL firm Klarna, which pioneered the FinTech service, has raised $639 million at a staggering post-money valuation of $45.6 billion in June, Nearer to home in Indonesia, FinAccel, the parent of Indonesian BNPL platform Kredivo, said For Genting Ventures which invested in Hoolah, the corporate venture capital firm expects to see massive growth in the BNPL sector over the next five years. \u201cWith the global BNPL market expected to reach $33.6 billion in 2027, the prediction is that there is going to be a massive growth rate over the next five years. Although BNPL is still fairly nascent in Southeast Asia, it is projected to be the fastest growing online payment method in Asia with a 64% growth rate by 2024 \u2013 and we\u2019re very excited to be at the forefront of that growth here,\u201d Josie Lai, Head of Genting Ventures, told TechNode Global. Hoolah has raised an eight-figure sum in its Series A round led by Allectus Capital last year. Other investors include Singapore-based iGlobe Ventures, Genting Ventures, and Max Bittner, the former group CEO of e-commerce firm Lazada. Split raised seed funding from 500 Startups in June last year. The round was also joined by other angel investors. \u201cWe see incredible potential in how their installment payment service works not just for large retailers but also serves a massive long tail of small and medium businesses selling online, offline or via social commerce,\u201d 500 Startups Managing Partner Khailee Ng said in the press statement then. While BNPL startups often claim the payment method increases customers\u2019 purchasing power and provides financial flexibility, some blame the FinTech product could encourage people to spend more than they can afford and could cause the accumulation of debts, particularly among youngsters. Concerns related to debts and potential regulatory scrutiny are some of the challenges the BNPL sector in Malaysia and in the region could potentially face. In the UK, the Treasury said in February BNPL shopping services will face stricter regulation. These FinTech firms would come under the supervision of the Financial Conduct Authority (FCA), which regulates financial services firms and markets in Britain. These firms are also required to conduct affordability checks before lending to customers. In Singapore, where BNPL has also gained momentum, is said to be unnerving regulators and politicians in the city-state, \u201cYoung adults without sufficient financial awareness can have access to credit lines before they have the necessary earning capacity. This is an unhealthy trend, \u201d Cheryl Chan, a Member of Parliament was quoted as saying. The Monetary Authority of Singapore (MAS), the city-state\u2019s de-facto central bank, has launched a media campaign warning the payment methods may lead to debt and consumer credit risk. Over in the UK, it was reported in June pointed out around a third of the UK adult population have used the BNPL schemes, consumer group Which? estimated. The consumer group said its findings challenge the stereotype of customers always being young adults who are looking to keep up with the latest fashion trends. But it also warned that some people are using BNPL schemes during challenging or stressful times in their life and could be at risk of harmful consequences. \u201cAlmost anyone with the money can offer BNPL service. FinTech companies or even retailers like Apple. It\u2019s easy and there is no sophisticated technology involved,\u201d an analyst covering tech stocks in China told \u201cWhile BNPL startups can serve the underbanked segment, to some extent they are also providing credits to people who should not be given a credit card. That could pose risks. Banks have more stringent procedures to vet through credit card applications to conduct affordability checks before they issue a credit card,\u201d he said. BNPL firms, however, said credit score systems and various initiatives are in place to promote responsible spending. \u201cAt Fave, we have developed our proprietary credit score powered by the extensive customer behavior data and integrated with third-party providers to whitelist our users for instant credit, which is interest-free for all payments made on time,\u201d Fave\u2019s Neoh said. When payment is overdue, Atome will immediately suspend accounts to prevent further usage. \u201cWe do not charge interest on missed payments. If a user misses a payment, we charge a fixed fee instead of snowballing interest charges. Our repayment terms are transparent, and in most cases, automatic when a user links a credit or debit card to their account,\u201d Atome\u2019s Lou-Walsh said. The average ticket size in Malaysia is between 200 and 400 MYR ($47.20 to $94.40), so any outstanding payment is small as compared to credit cards, she explained. \u201cUsers can also easily track their payment schedules, when and how much they have to pay on the mobile app. We send multiple reminders via SMS, email, and mobile app notifications to remind users when payment is due,\u201d she said, adding that all these initiatives help to prevent bad debt, and weed out bad actors or fraud. Atome\u2019s incidence of late payments is in the very low single-digit, she added. \u201cWe will also continue to improve mobile app experience including personalized shopping recommendations, ability to set shopping limits, more features to help consumers shop better and smarter,\u201d she said. Consumers, on the other hand, do have their own responsibilities to spend responsibly and manage their finances wisely. \u201cWe do acknowledge that there is a misconception around the BNPL industry among consumers as we\u2019ve seen some BNPL players in the markets promoting people to spend beyond their means. What\u2019s important is that consumers do their due diligence and are educated on the proper and responsible manner of utilizing BNPL to suit or enhance their lifestyles, and not apply for various BNPL schemes to make purchases that are beyond their budget,\u201d Hoolah\u2019s Thorton said. \u201cWe believe that a collective effort from the BNPL players, as well as consumers, is needed to drive financial literacy on the BNPL model, and spending responsibly within their means,\u201d he added. Malaysia\u2019s central bank, Bank Negara Malaysia, did not respond to \u201cIt\u2019s just the beginning for BNPL service in Malaysia. Unless it poses significant risks, regulations would come later,\u201d a banking analyst said. Featured image credits: Fave offers \u2018Buy Now, Pay Later\u2019 service in Singapore and Malaysia"}, {"url": "https://technode.global/2021/08/06/airasias-bigpay-raises-up-to-100m-in-financing-from-south-koreas-sk-group/", "page": 72, "title": "AirAsia\u2019s BigPay raises up to $100M in financing from South Korea\u2019s SK Group", "contents": "Malaysian budget carrier AirAsia Group\u2019s FinTech unit This is the first time any portfolio company within AirAsia Digital has secured financing of this size, BigPay said in a statement. The announcement comes a few weeks after BigPay has put together a consortium of strategic partners to support its application: Malaysian Industrial Development Finance Bhd (MIDF), a unit of the country\u2019s largest asset manager Permodalan Nasional Bhd, private equity firm Ikhlas Capital and a foreign conglomerate with fintech expertise. BigPay said the funding from SK Group, one of South Korea\u2019s largest conglomerates and tech innovators, further strengthens AirAsia\u2019s digital endeavor as it accelerates the scope of growth for its digital businesses, including logistics and financial services. \u201cOur ambition has always been to establish BigPay as one of the largest challenger banks in Southeast Asia. Closing this financing round gives us the ability to build out our offerings, accelerate product development and scale. We are thrilled to have SK Group with us on this journey,\u201d said BigPay Chief Executive Officer and Co-Founder Salim Dhanani. \u201cWe\u2019ve established ourselves in Malaysia as one of the leading providers of digital banking services, and we want to expand our product sets, along with growing the model to new markets. Thailand is next, but we\u2019ll be launching key products before that \u2013 with fully digital personal loans, transactional lending, and an offering for micro, small and medium enterprises (MSMEs),\u201d he said. Founded in 2017, BigPay is present in both Malaysia and Singapore. Its current offering includes a prepaid debit card which can be used to spend anywhere Visa or Mastercard is accepted, local and international money transfers, micro-insurance, bill payments, and a budgeting tool. BigPay has launched a series of products for its users focused on long-term financial health and accessibility. In an \u201cThis is the first investment into one of our portfolio digital companies and a testament to our digital growth story \u2014 we don\u2019t anticipate it being the last. SK Group is second to none when it comes to innovation and experience, so we truly believe they can share their expertise and know-how so that this investment can mark the beginning of a new exciting digital banking era,\u201d AirAsia Group CEO Tony Fernandes said in the statement. \u201cSK Group will be able to make a significant contribution to BigPay in both technical and consumer service aspects given our experience and resources,\u201d Chief Representative of SK Malaysia Jung Kyu Kim said. SK Group is the third-largest conglomerate in South Korea by asset size. It was founded in 1953 and has 125 subsidiaries in various sectors including energy, chemicals, ICT, semiconductor, and service sectors. SK Group operates globally across over 40 countries and had combined revenues of $115 billion and assets of $208 billion as of year-end 2020. BigPay banks on AirAsia\u2019s ecosystem, consortium\u2019s banking expertise to vie for digital banking license in Malaysia [Q&A]"}, {"url": "https://technode.global/2021/08/05/propertyguru-completes-acquisition-of-iproperty-malaysia-thinkofliving/", "page": 72, "title": "PropertyGuru completes acquisition of iProperty Malaysia, thinkofliving", "contents": "Southeast Asia PropTech firm PropertyGuru now owns all of the shares in In exchange, REA now has an approximate 18 percent equity interest in PropertyGuru. iProperty Malaysia and thinkofliving will continue to operate separately, PropertyGuru said. In the coming months, the group will work to ensure the smooth integration of the businesses while delivering the same value and services to property seekers, agents, and developers. The acquisitions will also accelerate PropertyGuru\u2019s ambition of building the region\u2019s property trust platform: a platform that connects Southeast Asia\u2019s property markets into an efficient ecosystem that builds trusted relationships between agents, consumers, developers, valuers, and banks by driving greater transparency and efficiency. \u201cWe are delighted to bring two strong businesses into our Group and today welcome the iProperty Malaysia and thinkofliving teams to our community of Gurus. Together, we are better positioned to deliver even more innovation to property seekers, equipping them with the insights they need to make confident decisions,\u201d PropertyGuru Group Chief Executive Officer and Managing Director Hari V. Krishnan said. PropertyGuru has announced on July 24 its plans to merge with NASDAQ-listed Bridgetown 2 Holdings Ltd, a special purpose acquisition company, through which PropertyGuru plans to list its business on the New York Stock Exchange. REA has committed to subscribe for $52 million of equity in the listed entity subject to completion of the business combination, which is expected to close in the fourth quarter of 2021 or first quarter of 2022, subject to regulatory and stockholder approvals, and other customary closing conditions. After taking into account the capital raising conducted concurrently with the business combination, REA will hold an approximate 15.8 percent stake in the listed entity and will have the right to nominate one director to the listed entity\u2019s board. PropertyGuru is Southeast Asia\u2019s number one digital property marketplace with leading positions in the region\u2019s Singapore, Vietnam, Malaysia, and Thailand. The acquisitions, coupled with the group\u2019s market leadership across the region\u2019s five major markets, strongly position PropertyGuru to capture the significant opportunities in Southeast Asia, which is estimated to become the fourth-largest economy in the world by 2030. PropertyGuru. com. sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the group has grown into a high-growth technology company with a portfolio of property portals across its core markets company; mobile apps; a developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including awards, events, and publications across Asia. PropertyGuru to go public via SPAC merger with Bridgetown 2"}, {"url": "https://technode.global/2021/08/03/bigpay-banks-on-airasias-ecosystem-consortiums-banking-expertise-to-vie-for-digital-banking-license-in-malaysia/", "page": 73, "title": "BigPay banks on AirAsia\u2019s ecosystem, consortium\u2019s banking expertise to vie for digital banking license in Malaysia [Q&A]", "contents": "Editor\u2019s note:Malaysia\u2019s central bank Bank Negara Malaysia announced A diverse range of parties has submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments. The regulator plans to issue up to five licenses in the first quarter of 2022. Malaysia\u2019s move comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers also hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. Demand for online banking services has also accelerated by the ongoing COVID-19 pandemic. Notable applicants that have officially announced their applications include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, AirAsia\u2019s BigPay-MIDF-Ikhlas Capital consortium, AEON Credit Service (M) Bhd, among others. TechNode Global\u201cBigPay was built like a digital bank from the start. We have never had a banking license, but the way we have built our technology stack and structured our operations has always been with the vision of offering a full suite of banking services,\u201d BigPay Founder and Chief Executive Officer Salim Dhanani told \u201cWe are not starting from scratch with no customers \u2014 especially not, given the access we have with the AirAsia ecosystem. We are developing on a pre-existing mission with a deeper set of products that cater to our customers,\u201d he said. \u201cThis is very unique in the market because we are one of the only companies following a \u2018neobank\u2019 model in the Malaysian market today. On top of that, every single member of the consortium brings deep-seated expertise in banking as well,\u201d he added. In the interview, Salim also shared BigPay\u2019s plans and strategy on how to serve the \u201cunderserved and unserved\u201d segment in Malaysia. BigPay has put together a consortium of strategic partners to support its application: Malaysian Industrial Development Finance Bhd (MIDF), a unit of the country\u2019s largest asset manager Permodalan Nasional Bhd, private equity firm Ikhlas Capital and a foreign conglomerate with FinTech expertise. Singapore-headquartered Ikhlas Capital is a private equity firm founded by MIDFEach of the consortium partners is \u201ccontributing something unique for the success of BigPay Bank,\u201d the company said in a statement when it announced its application. In addition to the consortium partners, BigPay said it is part of the AirAsia Group and has access to a broad ecosystem that includes e-commerce merchants and consumers, insurance, and telecoms. Launched in 2017, BigPay mobile money app provides several regulated financial products, from e-money and international remittance to micro-insurance and budgeting. Available in Malaysia and Singapore, BigPay is continuing its expansion throughout ASEAN. Following In November last year, BigPay also received conditional approval to provide online lending services in Malaysia, under a community credit license from Malaysia\u2019s Ministry of Housing and Local Government. AirAsia Group is in the midst of building its non-airline, digital businesses, and super app as most of its planes were grounded due to the ongoing COVID-19 pandemic. The group has injected $53.27 million in its financial services unit Big Pay Pte Ltd through its wholly-owned subsidiary AsiaAsia Digital, DealStreetAsia reported in June, citing a regulatory filing with Singapore\u2019s Acra. The investment, through the allotment of shares, was made on May 14. BigPay has been built on a neobank model with the goal of democratizing financial services. We have launched multiple regulated products under multiple licenses \u2013 but a digital banking license would allow us to offer the full suite of products to the Malaysian public. Over the last 10 years, the Malaysian economy has grown together with its middle class. But the reality is that one of the big drivers of sustainable economic growth for the lower and middle class is twofold: access to financial literacy and access to cost-effective financial products. That is what really allows for wealth creation, and this is the opportunity that BigPay sees. What competitive advantage BigPay\u2019s consortium has against other competitors? How does BigPay plan to position its digital bank or enhance its current products should it be granted a digital bank license?BigPay was built like a digital bank from the start. We have never had a banking license, but the way we have built our technology stack and structured our operations has always been with the vision of offering a full suite of banking services. Our customers and market positioning have always been such. We are not starting from scratch with no customers \u2013 especially not, given the access we have with the AirAsia ecosystem. We are developing on a pre-existing mission with a deeper set of products that cater to our customers. This is very unique in the market because we are one of the only companies following a neobank model in the Malaysian market today. On top of that, every single member of the consortium brings deep-seated expertise in banking as well. We feel that together, we can bring to the market an incredible set of products and make it a Malaysian success story. The segments are large, and unserved and underserved is an interesting dichotomy. Just because someone has a debit card does not mean that they are banked. It is really the financial products they have access to that allow consumers to grow and develop their financial health, to have a level of financial freedom, and to continue to create wealth not only for themselves and their families but for the Malaysian economy as well. BigPay is helping with this on two fronts:First, we understand that there are a lot of people across the country that do not have access to financial services which can improve their financial health. We want to be there to give them access to simple and intuitive debit accounts, affordable loans, and saving products \u2013 regardless of how much capital they have or whether they have an extensive credit history. This is where BigPay does well and will continue to do well with a digital banking license. We believe this will really contribute to the Malaysian economy. Secondly, we have built a best-in-class technology stack and we will continue to develop it. It helps us keep our costs low while making a viable business around supporting underserved and unserved consumers. This is a question for Bank Negara, although they have made it very clear through policies and interviews what their priorities are. We will see it play out over the next 12 months. In the short term, banks are not necessarily serving all these segments that digital banks are going after. But over time, banks will adapt. They are implementing new technologies and focusing on efficiency. As a result, we\u2019ll see a more competitive market that will ultimately benefit Malaysian consumers and businesses \u2014 which is a great thing. We cannot reveal all our secrets yet, but there is a strong business plan. BigPay is not trying to build a business around short-term profit. We are in for the long term and looking at building a strong foundation \u2014 with a strong user base and with the right products. We can keep these products affordable and accessible while being a sustainable business. There are inherent risks as there would be with any bank, but we have a strong consortium with a lot of experience in the banking sector. We believe we are geared to face any challenge. AirAsia\u2019s BigPay teams up with state-linked MIDF, PE firm Ikhlas Capital for digital banking license in Malaysia"}, {"url": "https://technode.global/2021/08/02/malaysias-axiata-eyes-66-stake-in-indonesias-link-net/", "page": 73, "title": "Malaysia\u2019s Axiata eyes 66% stake in Indonesia\u2019s Link Net", "contents": "Malaysian telecoms group Axiata and its 66.48 percent subsidiary, PT XL Axiata Tbk, have entered a non-binding term sheet with Asia Link Dewa Pte Ltd and PT First Media Tbk to facilitate discussions and negotiations for a potential acquisition of 1.82 billion shares or 66.03 percent stake in Link Net, the group said in a regulatory filing on Friday. Link Net is engaged in telecommunication activities by cable, internet service provider, communication system services, network access point services, other multimedia services, telephony value-added services, trading, management consultancy activities, and call center activities, according to its annual report. The group currently provides services through a broadband communication network including distribution of television programs and high-speed internet through the network in Jakarta, Bogor, Tangerang, Bekasi, Surabaya (include Malang and Gresik), Bali, Bandung, Medan, Batam, Solo, Semarang, Serang and Cilegon areas. Link Net is domiciled in Jakarta and started its commercial operations in 2000. All Link Net\u2019s shares have been listed on the Indonesian Stock Exchange on June 2, 2014, according to the filing. Quoting people with knowledge of the matter, Bloomberg reported last month that Axiata was in advanced talks to buy a stake in Link Net. Private equity firm Within ASEAN and South Asia, Axiata has controlling stakes in several mobile and fixed operators in the region including Celcom in Malaysia, XL in Indonesia, Dialog in Sri Lanka, Robi in Bangladesh, Smart in Cambodia, and Ncell in Nepal. Axiata DigitalThe group\u2019s infrastructure arm Featured image credits:"}, {"url": "https://technode.global/2021/07/28/malaysias-istore-isend-bags-investment-from-japans-logistics-giant-yamato-holdings/", "page": 73, "title": "Malaysia\u2019s iStore iSend bags investment from Japan\u2019s logistics giant Yamato Holdings", "contents": "Malaysia homegrown e-fulfillment service company The fund will be used for iStore iSend\u2019s talent acquisition and improving its proprietary system to help the company in its plan for cross-border expansion, iStore iSend said in a statement on Monday. The investment is an extension of \u201cWe are hopeful that this strategic partnership will further strengthen our position in Southeast Asia. The investment from Kuroneko Innovation Fund will help us expand into the e-commerce market in neighboring countries such as Thailand and Vietnam,\u201d iStore iSend Co-Founder and Chief Executive Officer Joe Khoo said. \u201cWith the incorporation of iStore iSend into Kuroneko Innovation Fund\u2019s portfolio, Yamato Holdings will proceed with the consideration to achieve provision of new value into the rapidly expanding e-commerce market in Asia,\u201d Yamato Holdings Senior Managing Executive Officer Shinji Makiura said. Incorporated in 2015, iStore iSend provides end-to-end services to its clients from storage and pick-and-pack to delivery arrangements when an e-commerce order is received. The company also offers value-added services, such as real-time inventory management and shipment tracking. The integration of its system with e-commerce platforms enables it to receive and fulfill orders the moment they are placed, thus ensuring both speed and efficiency for the delivery process. In addition, iStore iSend has a warehouse house management system that is used to power brands\u2019 Stock Keeping Unit hubs. \u201cThe investment from Kuroneko Innovation Fund is further validation of the tremendous value that iStore iSend is creating for the industry. As an ecosystem builder, Gobi is excited to build more linkages between Malaysia and Japan, and we welcome more investment from Japanese funds into Malaysian startups,\u201d Gobi Partners Co-founder and Chairman Thomas G. Tsao said. Currently, iStore iSend deals with over 30 foreign fast-moving consumer goods (FMCG) brands and 300 local brands. In addition to its presence in countries like Malaysia, Singapore, and Indonesia, the company plans to expand its services to neighboring countries like Thailand and Vietnam. The company also looks to promote omnichannel cooperation in managing offline inventory of foreign brands, provide its own integrated management product to its warehousing partners, enhance its warehouse network construction, enhance the growth of its customers and strengthen the operations of its systems according to the customers\u2019 needs. \u201cFollowing the decision to expand our e-commerce market in Asia, we have evaluated iStore iSend\u2019s ability to gain a deep understanding of this particular business area. We were impressed by its product development capabilities that are able to vertically integrate entire value chains, from ordering to delivering, ensuring high levels of customer satisfaction,\u201d said Global Brain Corporation Founder and CEO Yasuhiko Yurimoto. \u201cWe will be supporting iStore iSend\u2019s further growth of overseas expansion and its logistics operation strategy. \u201dYamato set up the 5 billion yen ($45 million) Kuroneko Innovation Fund with Tokyo-based venture capital firm Global Brain Corp in April 2020, to invest in promising startups with an emphasis on digital transformation in the fields of logistics and supply chains, Japanese media Kyodo news reported. Yamato is one of Japan\u2019s largest door-to-door delivery service companies, with a market share of 42.3 percent market share, its website showed."}, {"url": "https://technode.global/2021/07/28/malaysia-competition-commission-closely-monitors-food-delivery-platforms-after-public-outcry-on-exorbitant-commission-fees/", "page": 73, "title": "Malaysia Competition Commission closely monitors food delivery platforms after public outcry on exorbitant commission fees", "contents": "The MyCC said it is also closely monitoring and assessing the situation as to whether the conduct(s) of certain food delivery platform companies is in contravention of the Competition Act 2010 or not. \u201cThe MyCC, along with the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) have met with relevant parties including the food and beverages (F&B) and retail industry players to understand the issues raised by them. Based on the series of meetings held, we have identified several concerns and challenges in the industry, in relation to not only competition, but also consumerism. The way forward for us is to actively engage with the food delivery platform providers,\u201d MyCC Chief Executive Officer Iskandar Ismail said. \u201cIn this regard, MyCC is seriously looking into every angle from the perspective of the Competition Act 2010, particularly on the conduct of these food delivery platform companies towards F&B industry players, riders and consumers and whether it raises any competition concern,\u201d he added. The competition watchdog did not name any food delivery platforms but popular food delivery platforms in Malaysia include Foodpanda, a brand under Germany-headquartered multinational online food-delivery Delivery Hero, has a presence in Thailand, Pakistan, Singapore, Malaysia, Taiwan, Bangladesh, Hong Kong, the Philippines, Romania, Cambodia, Laos, Myanmar, and Japan. Singapore-headquartered Grab offers food delivery services in Malaysia through its superapp. Besides Malaysia, Grab also offers food delivery services in Singapore, Indonesia, Vietnam, among others. Budget carrier AirAsia has also launched food delivery services AirAsia Food in May last year. The group said in a statement in November 2020 that it realized that food delivery platforms were \u201ccharging exorbitant commission rates averaging between 20% and 35%\u201d, with \u201cvery little control\u201d given to the merchants over their own store when it comes to food deliveries. MyCC\u2019s move also came after local media Iskandar further said that all options are being considered in approaching these issues, including invoking the enforcement powers under the Competition Act 2010 and working closely with KPDNHEP to attain comprehensive solutions to all issues raised by the relevant industry players. Section 4 and Section 10 of the Competition Act 2010 clearly prohibits enterprises from entering into any anti-competitive agreement and abusing their dominant position in the market, respectively. MyCC said action can also be taken against a group of major players which abuse their dominant positions collectively. Consumers and businesses can channel their complaint(s) related to the misconduct of the p-hailing services by lodging the complaints via MyCC website or address its complaints to Grab has yet to respond to TechNode Global\u2019s query at press time while Foodpanda declined to comment. Featured image credit"}, {"url": "https://technode.global/2021/07/27/aia-malaysia-buys-minority-stake-in-ant-backed-e-wallet-operator-tng-digital/", "page": 73, "title": "AIA Malaysia buys minority stake in Ant-backed e-wallet operator TNG Digital", "contents": "Insurance company The amount of the deal was not disclosed. Quoting sources, local news portal theedgemarkets. com reported that AIA is investing in TNG Digital via the participation in the latest round of capital raising, which values TNG Digital at about $700 million. AIA also announced the formation of a long-term strategic partnership with TNG Digital, which is backed by China-based Ant Group and Malaysia\u2019s second-largest banking group CIMB Group. \u201cAIA will provide innovative and personalized digital insurance solutions to meet the protection needs of over 16 million Touch \u2018n Go eWallet customers nationwide, further demonstrating the insurer\u2019s commitment to digital innovation and the Malaysian market,\u201d the insurance company said in a statement. Through the digital insurance technology that it will bring to the partnership, AIA will offer Touch \u2018n Go eWallet customers a seamless, convenient, and frictionless experience, making it easy to buy, claim and renew policies, it added. \u201cThe need for insurance continues to heighten in the midst of the pandemic. We must constantly look to expand and give Malaysian consumers greater choices, enabling them to obtain the right coverage they need across different stages of their lives, in any way that they prefer, and at the right time,\u201d AIA Bhd Chief Executive Officer Ben Ng said. \u201cInsurance is a key pillar for us as we continue to expand into financial services, and we look forward to collaborating with AIA to disrupt the segment and bring better and more relevant products and services to Touch \u2018n Go eWallet users,\u201d Touch \u2018n Go Group Group Chief Executive Officer Effendy Shahul Hamid said. AIA\u2019s investment in TNG Digital comes at a time when the country is in full lockdown to contain the ongoing COVID-19 pandemic. The lockdown has helped to spur usage of contactless payments and FinTech services through e-wallets. Malaysia\u2019s central bank is in the midst of opening up the banking industry to digital players when regulators across the Asia Pacific have shown interest in encouraging the growth of digital banks. Bank Negara may be issuing up to five digital bank licenses. Notification of successful applications will be made in the first quarter of 2022. The regulator said earlier of the month that it has receivedTnG Digital declined to respond to AIA Malaysia is part of AIA Group, the largest independent publicly listed pan-Asian life insurance group. Together, AIA Bhd, AIA PUBLIC Takaful Bhd, AIA General Bhd, and AIA Pension and Asset Management Sdn Bhd have been serving Malaysians for over 72 years. AIA Malaysia offers a wide range of innovative as well as comprehensive conventional and shariah-compliant solutions spanning Life and Health, Family Takaful, Employee Benefits, Motor, Personal Accident, Mortgage, Commercial Insurance, and Retirement schemes. AIA Group Ltd and its subsidiaries have a presence in 18 markets \u2013 wholly-owned branches and subsidiaries in Mainland China, Hong Kong, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan, Vietnam, Brunei, Macau and New Zealand, and a 49 percent joint venture in India. It had total assets of $326 billion as of December 31, 2020. Touch \u2018n Go Group is Malaysia\u2019s consumer-facing financial-technology enterprise with a key focus in the country\u2019s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch \u2018n Go Sdn Bhd, a wholly-owned subsidiary of CIMB Group, and TNG Digital, a company founded by Touch \u2018n Go and Ant Group, the parent company of China\u2019s largest digital payment platform Alipay. Established in 2017, TNG Digital is the owner and operator of Touch \u2018n Go eWallet, Malaysia\u2019s largest e-wallet company, with over 16 million registered users."}, {"url": "https://technode.global/2021/07/27/indonesia-happyfresh-65m-series-d-funding-naver-gafina/", "page": 73, "title": "Indonesia\u2019s HappyFresh raises $65M in Series D funding led by Naver Financial Corp & Gafina B.V.", "contents": "Indonesia-headquartered online grocery platform It was led by Existing investors such as Mirae Asset-Naver Asia Growth Fund and Z Venture Capital have also participated. The round exceeded initial targets, due to significant demand from new and existing investors, HappyFresh said in a statement on Monday. \u201cWe see a big shift in customers\u2019 behavior; retention and frequency rates have significantly increased while the overall basket size has been consistently growing. We attribute this to a major shift in share of wallet from offline to online, which is here to stay,\u201d HappyFresh Chief Executive Officer Guillem Segarra said. \u201cContinuing to focus our efforts on providing a convenient and safe service, we will be enhancing our existing operating model together with our partnerships we already have with supermarket retailers across the region,\u201d he added, when asked about what the funds will be focused on. The latest funding round came as countries HappyFresh operates in including Indonesia, Malaysia, and Thailand are still battling with a high number of COVID-19 cases. Tighter lockdown measures imposed to contain the virus have boosted online grocery shopping and delivery services. The funding round also came after HappyFresh raised $20 million in Series C funding round led by Mirae Asset-Naver Asia Growth Fund in April 2019. Line Ventures, Singha Ventures and Grab Ventures also participated the funding round then, according to earlier media reports. HappyFresh said the team has also put in place plans to improve service offerings such as more payment methods, better user experience and assortment, bringing its service to more families in each country across the region. \u201cThe strong management team and unique service offering will enable HappyFresh and its partners to successfully navigate these unprecedented times, with best-in-class customer experience and safety, building loyalty and long-term market leadership positions. \u201d Peter Na, Director of Southeast Asia Investments at Naver and board member of HappyFresh said. Over the past 18 months, HappyFresh said it has been experiencing unprecedented growth as families have turned to HappyFresh to get their groceries delivered during the pandemic. The company said it has also moved further towards achieving long-term profitability in a time when it\u2019s proven challenging to sustain a business. In 2020, traffic has grown by factors of 10 to 20 times across the three countries it operates in, which has translated into growth in top-line as well as both new and repeat customers and improved economics. Southeast Asia online economy has hit an inflexion point, powered by rapid adoption and fundamental shifts in consumer behaviour. With a corresponding retail market size of $350 billion, grocery retail segment in Southeast Asia presents a sizeable and growing market opportunity for HappyFresh, the company said. E-grocery is rising rapidly across Asia in particular Southeast Asia; younger populations in urban regions with higher income and expenditure have driven early adoption, while in the past year, mass-market adoption has massively accelerated the overall penetration of digital platforms."}, {"url": "https://technode.global/2021/07/26/tale-of-the-used-car-tape-putting-carsome-and-carro-head-to-head/", "page": 73, "title": "Tale of the (used car) tape: Putting Carsome and Carro head-to-head", "contents": "Carsome vs Carro: Who wins Southeast Asia\u2019s used car fight?CarsomeBoth used car innovators share many similarities \u2014 from the year they were founded (2015) to their geographic reach across Southeast Asia. But with Carsome now joining Great startups start with great ideas, and both unicorns are masterminded by founding teams and key personnel with a long list of qualifications and experience in entrepreneurship, venture capital, and corporate finance and management. In the yellow corner, Carsome\u2019s Eric Cheng and Teoh Jiun Ee have years of digital media and marketing experience. In the red corner, Aaron Tan brings his serial entrepreneurship and venture investing experience to Carro. As both unicorns have grown through the years, often facing off in the same markets, Carro and Carsome have replenished and refreshed their top management teams. Both equally value diverse backgrounds but take different approaches in doing so. Carsome hires top talent like Chief Operating Officer Benjamin Koellmann for their expertise in specific markets. In this case, Koellmann\u2019s experience in setting up Happy Fresh and Lazada in Indonesia, speaks to Carsome\u2019s focus on Indonesia after dominating its local Malaysian market. Carro, meanwhile, has made two investments or acquisitions \u2014 myTukar. com in Malaysia and Jualo. com in Indonesia. The Singaporean unicorn gave Chief Marketing Officer In the venture space, valuations make the headlines, and both Carro and Carsome claim to have passed the $1 billion mark. Both have drawn notable global and regional investors for multiple funding rounds, illustrating the strong investment story and growth potential of used car e-commerce marketplaces, which account for When it came to funding rounds, Carro and Carsome took different routes. Carsome\u2019s nine rounds easily outpace Carro\u2019s four, but Carro\u2019s ticket sizes have grown exponentially with each round. Carro\u2019s latest round in June came in at a whopping $360 million and accounted for almost 78 percent of total funding raised. In comparison, Carsome\u2019s $30 million round last December is 12 times smaller and more in line with its earlier round sizes. However, Carsome is reportedly in talks to raise But how has all that powder been spent? The story is flipped when it comes to operational figures: on an annualized basis, Carsome brings in almost triple what Carro does, while on an accounting basis the gap is narrower at 1.2 times. Profitability is currently not the focus of both startups, and Carro was unable to share its latest EBIT (Earnings Before Interest and Taxes) figures with TechNode Global. Carsome, however, shared that it saw a narrow loss of just $13.5 million for its unaudited financial year ended December 2020. With so much of Southeast Asia\u2019s used car market share left to conquer, both Carsome and Carro have revved up their marketing strategies to build networks and reach throughout the four shared markets. Carsome\u2019s planned acquisition of iCarAsia heats up the geographic race considerably, putting it neck and neck with Carro in terms of dealer reach. However, on other metrics, post-merger Carsome will have almost double the listings and more than double cars sold yearly on Carro. While Carro has declined to share its monthly visitor traffic, Carsome post-merger expects to see 10 million visitors to all its listing sites. Marketing-wise, both startups have made headline moves such as a motorsports sponsorship for Carsome and livestream car selling for Carro. Both have leaned heavily on partnerships to expand the services they provide to their dealers, with Carsome placing additional emphasis on dealer financing and insurance. Carro has rolled out contactless services in response to the COVID-19 pandemic, while Carsome is taking a whole-of-industry approach with its skills training and car maintenance tie-ups. ^Updated data provided by Carro. * Updated data provided by Carsome. **Provided by Carsome. Note that the metrics on dealers, monthly visitors, listings are assumed completion of Carsome\u2019s acquisition of iCar Asia, which is subject to relevant regulatory approvals. DisclaimerWe then scoured publicly available data sources, including venture capital and startup databases such as Crunchbase and VentureCap Insights, news reports and company press releases, as well as LinkedIn profile pages. Keeping in mind that both Carro and Carsome are private companies and that publicly available data might not be recently updated, TechNode Global shared our data with both Carro and Carsome and where noted, have used their updated figures."}, {"url": "https://technode.global/2021/07/19/singapore-foodtech-firm-easy-eat-raises-5m-funding-eyes-sea-expansion/", "page": 73, "title": "Singapore FoodTech firm Easy Eat raises $5M funding, eyes SEA expansion", "contents": "Singapore-based Artificial Intelligence-powered FoodTech startup The round saw participation from Aroa Ventures \u2014 family office of Ritesh Agarwal, the founder and group CEO of OYO; Reddy Futures Family Office; Prophetic Ventures, Maninder Gulati \u2014 Global Chief Strategy Officer of OYO; Cem Garih \u2014 Managing Partner at Alarko Ventures; Fethi Sabanc\u0131 Kam\u0131\u015fl\u0131 \u2013 Founder and Managing Partner of Esas Ventures; and, a few Silicon Valley-based VCs and angels. Founded by Mohd Wassem, Rhythm Gupta, and Abdul Khalid, Easy Eat AI is headquartered in Singapore and has made Malaysia its launchpad for its product before expanding to other Southeast Asian countries. The funding round came as Malaysia is in a so-called \u201cfull lockdown\u201d with traveling restrictions to contain the ongoing COVID-19 pandemic. Restaurants and eateries are allowed to operate but no dine-ins are allowed and they are required to follow standard operating procedures set by the government. \u201cWe are expanding fast. We would use the funding in expanding the team, bringing in senior talents and expanding our product offerings. We are targeting 10,000 merchants in Malaysia in next 12-18 months,\u201d Easy Eat AI Founder Mohd Wassem told \u201cFor the expansion beyond Malaysia, we are targeting potential big market for us to grow and remain sustainable. We are targeting Indonesia, Singapore and Vietnam,\u201d he said. The company is already in discussion to raise the next round and it has obtained some interests from potential investors, he added. \u201cThe current pandemic scenario has accelerated the digital transformation of the restaurant industry, with more and more restaurants and customers increasingly wanting contactless services. Easy Eat AI partner restaurants have been able to withstand the impact of Covid-19 better than other restaurants. Even during the worst of the lockdown period, our merchants were generating 50% of the usual revenue. \u201d Wassem said in the statement. \u201cThe most affected restaurants are those with no clear digital strategy that will continue to struggle even post covid with limited revenue-generating opportunities, escalating cost of operations and they would continue to rely on third-party platforms for deliveries paying 30-35 percent commission,\u201d he added. Easy Eat AI said its technology solves the biggest of all problems of restaurants which is building the direct connection between the customers and restaurants. At the heart of their technology is an operating system with integrated QR-based table ordering, loyalty programs, payment solutions, social media integration, inventory, and integrated delivery services, it added. Once the restaurant adopts Easy Eat AI\u2019s technology, the entire operations move online and just like any other technology company, restaurants are able to capture each and every data point in the value chain which leads to a better understanding of customers\u2019 choices, higher revenue, and reduced cost. In the past year of operation, Easy Eat AI has been able to increase the revenue of restaurants by 30 percent and reduce operational cost by 15 percent. In Malaysia, Easy Eat AI is already serving hundreds of merchants such as Richiamo Coffee, Mr. Fish Fishhead Noodles, WTF Group, and Hailam Toast, among others. Taiwanese cloud kitchen startup 3 SQUARE eyes APAC expansionFeatured image credits"}, {"url": "https://technode.global/2021/07/16/malaysia-online-baby-store-babydash-raises-300k-bridge-round-via-equity-crowdfunding/", "page": 73, "title": "Malaysia online baby store Babydash raises $300K bridge round via equity crowdfunding", "contents": "Malaysia-based digital baby store This raise also saw the participation of the Malaysian Government via the Malaysia Co-Investment Fund (MYCIF), further strengthening its support for the digitalization of the economy and its confidence in Babydash, the company said. \u201cOn behalf of the Babydash Team, I would like to take this opportunity to thank all our investors for their tremendous support. We are extremely excited about the opportunity and path forward. pitchIN too has definitely been a strong pillar for our success and we would like to extend our utmost appreciation for their continuous partnership,\u201d said Babydash Founder and Chief Executive Officer Lavinie Thiruchelvam. Babydash is now doubling down on key targeted activities to aggressively expand its customer and product base. The company aims to drive up revenue per transaction while expanding its footprint in ASEAN targeting to double the size of the company in the next 12 to 18 months. This is Babydash\u2019s second round of fundraising via equity crowdfunding (ECF) on ECF platform Over the last few months, Babydash has been investing in new technology which enhances customer experience as well as its data analytics capabilities, delivering on its primary goal of serving customers better. Investment proceeds from this campaign will drive Babydash into the next phase, boosting their lead and market presence in Malaysia and growing the Singapore market as it expands roots across the region. Founded in 2011, Babydash is a one-stop online baby store in Malaysia that provides the largest range of genuine, curated, high-quality mum and baby products at the best prices. With its customer-first ethos, Babydash said it prioritizes fast delivery, prompt customer guidance and care. As customers increasingly rely on e-commerce solutions during this pandemic, Babydash has provided parents with an invaluable helping hand to meet their needs. Babydash Singapore launched in 2019, and the company claims to be on track to launch in a few more Asian countries soon. Babydash also commenced a new export business of containers of diapers to the Maldives and will be growing this to other countries as well. Mom-focused e-commerce platform Edamama raises $5M pre-Series A for automation, logistics & product development"}, {"url": "https://technode.global/2021/07/16/malaysia-pe-firm-creador-eyes-tech-sectors-after-raising-500m-for-first-close-of-5th-fund/", "page": 73, "title": "Malaysia PE firm Creador eyes tech sectors after raising $500M for first close of 5th fund", "contents": "Malaysia-headquartered private equity firm Creador Founder and Chief Executive Officer Brahmal Vasudevan said it is looking to invest in technology sectors. \u201cWe are starting the deployment of the fifth fund now. \u200b\u200bWe are also building a digital bank in Southeast Asia,\u201d he told Asked about which are the tech sectors Creador will look into, Vasudevan said the firm is looking to build a regional credit bureau platform and the retail industry. Creador currently holds an 80 percent stake in Malaysian credit reporting agency CTOS Digital Bhd. It is exiting 50 percent of its stake in CTOS through an initial public offering on Malaysia\u2019s stock exchange Bursa Malaysia, DealStreetAsia reported. Creador\u2019s move to invest in technology comes at a time when more global PE firms are looking for investment opportunities in the tech sector in Southeast Asia. There were at least 11 PE deals in the tech space in 2019-2021, data compiled by news portal In May alone, Malaysia-based PE firm Earlier in a statement, Creador announced that Creador V, its fifth flagship investment vehicle, has had a first close of $500 million. The PE firm said Creador V is the firm\u2019s biggest first close to date and occurs four months after first inviting investors onboard in March 2021. \u201cWe have a strong pipeline of new deals as part of this new fund; the first three of which will be announced in August,\u201d Creador said in a statement. Creador also said the fundraising was \u201cunique in that it was done without the benefit of in-person meetings as a result of the COVID-19 pandemic\u201d. Almost all existing Creador IV investors opted to invest in its latest vehicle, which will continue to focus on investment in Southeast Asia and India. The Asian Development Bank is among the investors of Creador IV, earlier media reports showed. \u201cThe strong support from these existing investors reflects their confidence in the performance of our previous funds,\u201d the private equity firm said. \u201cWith this strong interest from both existing and new investors, we expect to achieve the hard cap of $680 million by the end of 2021. This fifth fund will bring the firm\u2019s total assets under management (AUM) to more than $2 billion,\u201d it added. Creador\u2019s fourth fund (Creador IV) had closed after securing around $580 million in 2019, exceeding its hard cap of $550 million, according to earlier reports. The firm\u2019s investments from Creador IV include home improvement retailer Mr DIY Philippines, India-based value-added distributor iValue InfoSolutions, Mr DIY India, India\u2019s Kogta Financial, Malaysian e-payment system operator GHL Systems, Shriji Polymers, and Malaysia\u2019s Loob Holding, which owns the Tealive bubble tea brand. Founded in 2011, Creador focuses on growth capital investments in South and Southeast Asia in countries including Indonesia, Malaysia, India, Vietnam, Singapore, the Philippines, and Sri Lanka. Its investments span across consumer sectors, financial services to payment systems, among others. Malaysia private equity firm Creador plans $650M fifth fund by March 2021"}, {"url": "https://technode.global/2021/07/13/malaysia-proptech-firm-speedhome-eyes-unicorn-status-in-3-years/", "page": 74, "title": "Malaysia PropTech firm Speedhome eyes unicorn status in 3 years", "contents": "Malaysian-based property rental platform \u201cWe plan to raise Series B next year. We aim to become a PropTech unicorn in three years,\u201d Speedhome Chief Executive Officer Wong Whei Meng told Speedhome aims to expand regionally to 10 other metropolitan cities in the next five years, namely Bangkok, Manila, Jakarta, Taipei, Ho Chi Minh, Hanoi, Melbourne, Sydney, Hong Kong, and Singapore, to emerge as Southeast Asia\u2019s PropTech Unicorn. \u201cWe see strong growth in Malaysia despite the challenging economic environment. We are confident to see even-better growth moving forward,\u201d he said. Speedhome recorded more than 160 percent year-on-year growth in Gross Written Premium (GWP) contribution to Allianz Malaysia in 2020 compared to 2019. On Monday, Speedhome announced it has raised $1.67 million in Series A funding, backed by insurer \u201cThis fund will help us kick start our regional expansion in Bangkok and accelerate our efforts towards making Speedhome as the region\u2019s super app for property investors,\u201d Wong said in a statement on Monday. Speedhome\u2019s Series A funding came as Malaysia is still in a full movement control order (MCO) to contain the on-going COVID-19 pandemic. New positive cases reached more than 9,000 cases over the past few days despite the rollout of vaccination programme in the country since early of the year. Amidst the challenging circumstances last year, Speedhome said it managed to soften the adverse impact of the pandemic on the property industry with the introduction of its \u201cVirtual Viewing\u201d and \u201cHomerunners\u201d services that addressed the restrictions posed by the various Movement Control Order (MCO) in Malaysia. \u201cWe are very impressed with Speedhome\u2019s strong growth and ability to become a market-leading platform. In addition, Speedhome proprietary tenant behaviour data set and AI capabilities enabled a more transparent, more accessible and equal-opportunity compared to the existing perception-biased rental mechanism,\u201d Gobi Partners chairman Thomas G. Tsao said in the statement. \u201cSpeedhome is one of our first investments for Gobi\u2019s SuperSeed Fund II; in fact, the company was one of the winners of our SuperSeed II Championship last year,\u201d he said. The investment also marks another venture into the PropTech industry for Gobi Partners. In Indonesia, it currently has two PropTech investments, online short-term home rental marketplace Travelio, and premium co-working space operator GoWork. Embarking on a partnership in 2017, Speedhome and Allianz jointly developed the \u201czero deposit and landlord insurance\u201d, a solution that removes any financial burden for tenants, and at the same time, provides downside protection for property investors. \u201cDigital partnerships are very much part of our strategy at Allianz Malaysia as we look towards capitalising on new opportunities and new markets. However, more importantly, we are equally driven to support our local digital champions, start-ups like Speedhome, and currently have over 50 active digital partnerships across various sectors,\u201d Allianz Malaysia CEO said Zakri Khir. Established in 2015, Speedhome, formerly known as Speedrent, is a zero-deposit property rental platform connecting landlords directly to quality tenants providing rental protection services. Its mobile app has exceeded 470,000 downloads on Play Store and App Store. The firm has a database of more than 59,000 property listings and 17,000 potentials in their high-quality tenant pool. Speedhome aims to simplify the rental process, making it transparent and secured for both landlords and tenants. Partnered with Allianz Malaysia, Speedhome is the first rental platform that provides insurance and rental protection of up to 42,000 ringgit, covering more than standard security deposits. The investment holding company, Allianz Malaysia Bhd, a subsidiary of German multinational financial services company Allianz SE, has two insurance subsidiaries \u2013 Allianz General Insurance Company (Malaysia) Bhd and Allianz Life Insurance Malaysia Bhd. Allianz Malaysia has 32 branches nationwide. Headquartered in Kuala Lumpur and Shanghai, Gobi Partners is a venture capital firm with a Pan-Asian presence across North Asia, South Asia, and ASEAN with over $1.1 billion in assets under management (AUM). Founded in 2002, Gobi has raised 13 funds to date, invested in over 270 startups, and has grown to 13 locations across Bangkok, Beijing, Dubai, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, and Singapore."}, {"url": "https://technode.global/2021/07/13/carsome-partners-catcha-to-create-seas-largest-digital-automotive-marketplace-via-200m-acquisition-of-icar-asia/", "page": 74, "title": "Carsome partners Catcha to create SEA\u2019s largest digital automotive marketplace via $200M acquisition of iCar Asia", "contents": "Southeast Asian used car trading platform Carsome Group announced on Tuesday it plans to acquire listings and content automotive platform iCar Asia to create the largest automotive marketplace in Southeast Asia. Carsome said it has entered into an agreement to acquire 19.9 percent of Australian Securities Exchange-listed iCar Asia Ltd from internet investment group Catcha Group. Carsome and Catcha Group have also made a joint proposal to the independent directors of iCar Asia to acquire the balance of 80.1 percent of iCar from its shareholders. The total transaction is estimated to be worth more than $200 million, according to the statement. Carsome said it is the market leader in the online used car buying and selling platform across Malaysia, Thailand, Indonesia, and Singapore, while iCar Asia is the leading listings and content automotive platform across those same markets. Carsome and iCar Asia, combined, offer an integrated automotive ecosystem \u2013 for dealers to source, advertise and sell cars; and, for consumers to research, sell and buy cars \u2013 in a region that trades over $55 billion worth of automobiles annually, the company said in the statement. It also cements the position of Carsome, the first tech unicorn in Malaysia, as Southeast Asia\u2019s most valuable digital automotive marketplace, Carsome added. Catcha Group will become a shareholder of the Carsome Group in exchange for the sale of its shares in iCar Asia to Carsome. Carsome Co-founder and Group Chief Executive Officer Eric Cheng will lead the Carsome Group as CEO. \u201cThis transaction is an important part of our growth strategy to build the entire automotive ecosystem in Southeast Asia and part of how we are transforming the industry through trust, transparency, and technology,\u201d said Cheng. \u201cThis is the first step toward consolidation to form the largest digital automotive group in terms of revenue, user base, largest live listing, and the best end-to-end fulfillment capability in the region. \u201dThe proposed acquisition of iCar Asia offers an enhanced suite of digital products and services to more dealers and consumers in all key markets. The expanded suite of solutions will offer an end-to-end, super-app experience that covers the entire car buying and selling value chain, Carsome said. Consumers will enjoy a seamless, one-stop solution as the group expands its offerings to span the whole car ownership journey \u2013 from search, transaction, finance, and insurance to after-sales services. \u201cThe Board of iCar looks forward to welcoming Carsome as a shareholder and is discussing the indicative proposal received,\u201d iCar Asia Chairman of the Board of Directors Georg Chmiel said. \u201cAs both sides continue to engage on the indicative proposal, we also look forward to further exploring potential commercial partnerships that will benefit both parties,\u201d added Hamish Stone, iCar Asia Chief Executive Officer and Managing Director. The proposed acquisition came after Carsome announced last week that it has Carsome is said to be weighing a plan to go public in the US through a special purpose acquisition company (SPAC) as an option. Quoting people familiar with the matter, The deal to take the company public, which would also make it Malaysia\u2019s first unicorn, could take place as soon as the end of the year, according to the report. Carsome, which transacts around 100,000 cars annually, is also said to be conducting a pre-IPO funding round that aims to raise about $150 million. Malaysia\u2019s Carsome announces strategic investment in Indonesia\u2019s car auction firm PT Universal Collection"}, {"url": "https://technode.global/2021/07/09/pickupp-to-expand-presence-in-malaysia-after-completing-series-a-and-a-funding-co-led-by-pchome-cornerstone-ventures/", "page": 74, "title": "Pickupp to expand presence in Malaysia after completing Series A and A+ funding co-led by PChome, Cornerstone Ventures", "contents": "Hong Kong logistics startup The Series A+ round funding was led by Taiwan e-commerce giant PChome and Cornerstone Ventures, with participation from an existing investor, Swire Properties, and new investors including Cathay Venture Inc. , DRIVE Catalyst, the corporate venture arm of Far Eastern Group from Taiwan, and the Jardine Matheson Group and Zipx from Hong Kong. The company will accelerate new expansion in Taiwan and deepen its presence in key markets including Hong Kong, Singapore and Malaysia. \u201cThe pandemic has triggered a seismic shift in consumer behavior, it has led to droves of retailers moving their business online and scaling up their digital presence to meet the surging demand. Over the past year, we\u2019ve seen more retailers looking for reliable, flexible and faster delivery solutions,\u201d Pickupp Co-founder and Chief Executive Officer Crystal Pang said. \u201cThis round of funding will help us to fuel our expansion in Taiwan and other markets, as well as diversify our product portfolio and offerings based on the needs of each market,\u201d she added. In Malaysia, the funds will enable Pickupp to strengthen its local market position as the preferred collaborative logistics partner for Malaysia\u2019s largest logistics players as well as local businesses. Pickupp will expand coverage and optimize operational efficiencies to meet the market\u2019s evolving needs. \u201cIn Malaysia, there has been a surge in demand for delivery services, especially through various stages of lockdowns and movement control orders. Malaysians are relying on e-commerce for daily necessities as well as retail shopping needs, as we saw during the recent \u2018Hari Raya\u2019 (festive) period through our partners such as FashionValet, and we anticipate this will continue as part of the new normal,\u201d Pickupp Malaysia country manager Navin Kandapper said. Through this funding, Pickupp Malaysia plans to expand coverage of more territories in Malaysia, grow its workforce of delivery agents, and continue investing in technology to further improve its offerings in the market, creating earning opportunities and supporting the recovery of businesses affected by the pandemic. Founded in 2016, Pickupp said its customized last-mile delivery services and trademark technology have earned a loyal customer base from notable multinational corporations (MNCs) and logistics giants to retail and e-commerce businesses. The funding also allows Pickupp to seize and capitalize on the opportunities amid the soaring growth in e-commerce. In a new forecast by Forrester, online retail sales in Asia Pacific will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024, with a compound annual growth rate of 11.3 percent. Working with strategic partners, Pickupp will explore innovative e-commerce models, particularly in Taiwan, where there is a growing demand for cross-border e-commerce. To date, Pickupp\u2019s user base has grown by 250 percent since the outbreak of the pandemic in March 2020, with over 100,000 delivery agents onboard across all regions. In Malaysia, the business has seen a user base growth of 198 percent, with earning opportunities created for 25,000 independent delivery agents. The startup also partners with logistics giants to support its delivery processes, especially during periods of peak demand. Based in Hong Kong and operating in Singapore, Malaysia, and Taiwan, Pickupp has established strategic partnerships with global brands and merchants which have been transitioning their businesses to online-to-offline retail."}, {"url": "https://technode.global/2021/07/08/airasia-considers-listing-digital-business-in-us-via-spac-to-raise-300m/", "page": 74, "title": "AirAsia considers listing digital business in US via SPAC to raise $300M", "contents": "Malaysia\u2019s budget airline In an exclusive interview with AirAsia Digital includes a travel and lifestyle services platform, logistics, and FinTech businesses. The group has also announced on Wednesday that it is acquiring Indonesia ride-hailing tech giant Gojek\u2019s operations in Thailand. The deal values the AirAsia SuperApp at around $1 billion, more than the pandemic-hit airline\u2019s current market value of $868 million, \u201cWe have now recruited our auditors to start preparing for an American listing so that\u2019s very much on the table,\u201d Fernandes was quoted as saying. He also said that Rothschild is working on the listing that could happen in five months. The group is also in discussions with other suitors, including Malaysian and Indonesian private equity, he added. Last week, AirAsia announced that its FinTech arm The development also came after Southeast Asia ride-hailing giant Grab\u2019s announced in April it will go for listing in the US in a $40 billion deal to merge with a SPAC Altimeter Growth Corp. The SPAC route has gained traction in Asia as it serves as an alternative to traditional IPOs for companies. It provides a faster path to the US capital markets, with lesser regulatory scrutiny. Bridgetown 2 Holdings, a SPAC formed by billionaires Peter Thiel and Richard Li, is considering merging with Singapore-based online property portal PropertyGuru Group, Bloomberg reported last month. Indonesia\u2019s travel tech unicorn Traveloka has also announced its plans to list in the US this year using SPAC. Fernandes said that talks with a US company over a loan of $1 billion for the digital business are also \u201cnear conclusion. \u201dAirAsia has been looking to raise funds as the aviation industry is severely hit by the COVID-19 pandemic. International borders in most of the markets it operates remained closed to contain the ongoing coronavirus pandemic. The airline has a target to raise up to 2.5 billion MYR ($618.51 million) from loans and investors, according to earlier reports. Fernandes also said the group could announce updates on its financing \u201cas soon as next week,\u201d and that a government-guaranteed loan was also being processed. AirAsia announced in March that it has raised $82 million from TPG Capital executives, Aimia Inc, and others through a private share placement. The group raised $81.70 million over two tranches by issuing 470.21 million new shares, representing 14.07 percent of the group\u2019s total issued shares. TPG Capital founder and chairman David Bonderman and TPG Asia Partners, including Tim Dattels, Ganen Sarbananthan and Zubin Irani, Hong Kong businessman Stanley Choi, who is also chairman at Head & Shoulders Financial Group, also participated."}, {"url": "https://technode.global/2021/07/07/airasia-to-acquire-gojeks-thai-operations-for-50m-via-share-swap-deal/", "page": 74, "title": "AirAsia to acquire Gojek\u2019s Thai operations for $50M via share swap deal", "contents": "Malaysian budget airlines Gojek will receive shareholding in the AirAsia Super App whose market value is around $1 billion, AirAsia said in a statement on Wednesday. The purchase considerations for the proposed acquisitions will be wholly satisfied by the issue of new shares in the AirAsia SuperApp. Gojek will own 4.76 percent in AirAsia SuperApp after the proposed acquisition, a regulatory filing showed. \u201cThe win-win deal is expected to rev up expansion of the AirAsia Super App in ASEAN, while enabling Gojek to increase investments in its Vietnam and Singapore operations,\u201d AirAsia said in the statement. The deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world, it added. The proposed acquisition is expected to be completed by the fourth quarter of 2021, AirAsia said. The proposed acquisition is also subject to approval from the central banks of Malaysia and Thailand, Bank Negara Malaysia, and Bank of Thailand. The stock-swap deal came after AirAsia\u2019s FinTech arm AirAsia Group is in the midst of building its non-aviation digital businesses and its super app as most of its planes were grounded due to the ongoing COVID-19 pandemic. The group is reportedly operating at 19 percent of its pre-pandemic capacity, logging just over 2,000 outbound flights planned for the week of July 19, 2021, compared with 10,800 for the same week in 2019, according to aviation news portal Simple Flight. \u201cBy taking on Gojek\u2019s well-established Thai business, we\u2019ll be able to turbocharge our ambitions in this space to become a leading Asean challenger super app,\u201d AirAsia Group Chief Executive Officer Tony Fernandes said in the statement. He said the group is also setting its sights on bringing its super app offerings to all of its key markets, following the successful rollout in Thailand. Gojek CEO Kevin Aluwi said the deal will enable the firm to \u201cpivot our focus in international markets towards Vietnam and Singapore \u2014 markets providing us with the best return on investment and strategic growth opportunities. \u201dAirAsia Super App provides a lifestyle platform for travel, e-commerce, financial services, farm to table, health, and EduTech products and services. Fernandes has in March told local media Tencent-backed Gojek was first established in 2010 focusing on courier and motorcycle ride-hailing services, before launching the app in January 2015 in Indonesia. Since then, Gojek has grown to become an on-demand platform in Southeast Asia, providing access to a wide range of services from transportation, to food delivery, logistics, and many others. As of March 2021, Gojek\u2019s application and its ecosystem have been downloaded more than 190 million times by users across Southeast Asia. AirAsia\u2019s BigPay teams up with state-linked MIDF, PE firm Ikhlas Capital for digital banking license in Malaysia"}, {"url": "https://technode.global/2021/07/06/malaysias-carsome-announces-strategic-investment-in-indonesias-car-auction-firm-pt-universal-collection/", "page": 74, "title": "Malaysia\u2019s Carsome announces strategic investment in Indonesia\u2019s car auction firm PT Universal Collection", "contents": "Southeast Asia\u2019s online used car platform, The amount and other details of the transaction were not disclosed. PT UC transacted close to 30,000 vehicles in 2020. Outside of Jakarta, PT UC has branches in South Tangerang, Bandung, Yogyakarta, and Malang. It marks Carsome\u2019s first investment in Southeast Asia in 2021, Carsome said in a statement. The strategic investment into PT UC allows Carsome to double its automotive transaction volumes in Indonesia. It sets Carsome a step closer to deliver on its vision of building a regional, end-to-end integrated online used car ecosystem for dealers and consumers, said the company in its announcement. Carsome\u2019s dealer partners will enjoy more inventory diversity and broader options through PT UC. It also allows Carsome to expand its network coverage and access to financial and leasing providers. This will make Carsome the largest omnichannel integrated car e-commerce platform in the region, offering full-fledged services for both online and offline transactions with wider coverage. PT UC\u2019s suppliers, meanwhile, will have access to a wider demand pool through Carsome, it added. The development came after the startup is said to be weighing a Quoting people familiar with the matter, The deal to take the company public, which would also make it Malaysia\u2019s first unicorn, could take place as soon as the end of the year, according to the report. Carsome is also said to be conducting a pre-IPO funding round that aims to raise about $150 million. Delly Nugraha, Country Head of Carsome Indonesia, has been appointed as President Director of PT UC. \u201cWe are really excited to invest into PT UC. This investment serves as a strategic move for Carsome to open up more opportunities and networks, and to significantly expand our operations in Indonesia, a key Southeast Asia market for Carsome. Through PT UC\u2019s access to used car supplies in the market, Carsome\u2019s dealer partners will enjoy more inventory diversity and broader options. PT UC\u2019s suppliers, on the other hand, will be opened to a wider demand pool, broadening their accessibility in the used car market,\u201d he said. Based on the Carsome Consumer Survey released in early 2021, interest among Indonesian consumers to buy or sell a used car remains high. At least 64 percent of Indonesian consumers are interested in purchasing a used car between April and September 2021 period. Moreover, Indonesian consumers are optimistic that their purchasing power will strengthen on the back of more disposable incomes. The investment into PT UC comes as Carsome continues expanding into new areas within Indonesia to serve more dealers, consumers and ecosystem partners, strengthening its position as the leading used-car platform in Southeast Asia. The company continues to see dynamic growth across its Southeast Asian markets, particularly with rising demand for used cars as more consumers opt for private car ownership amid the Covid-19 pandemic. As of April 2021, the company is tracking over 9,000 used car transactions per month or over 100,000 on an annualized basis. This puts its annualized revenue at around $800 million and it is on track to achieve $1 billion revenue for the year. Founded in 2015, Carsome has expanded its presence to Indonesia, Thailand, and Singapore in recent years."}, {"url": "https://technode.global/2021/07/05/29-applicants-to-bid-for-5-digital-banking-licenses-in-malaysia-with-national-cooperatives-group-joining-in/", "page": 74, "title": "29 Applicants to bid for 5 digital banking licenses in Malaysia, with national cooperatives group joining in", "contents": "Malaysia central bank A diverse range of parties have submitted applications for the digital bank license, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives, and state governments, the regulator said in a statement. The central bank did not list out the applicants. Notable applicants that have officially announced their applications include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, AirAsia\u2019s BigPay-MIDF-Ikhlas Capital consortium , AEON Credit Service (M) Bhd, among others. Malaysia\u2019s move comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers also hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. \u201cSuccessful applicants that meet all prudential criteria will be expected to contribute towards greater financial inclusion by offering products and services to address market gaps in the underserved and unserved segments,\u201d the central bank said. \u201cThis includes promoting suitable and affordable financial solutions by leveraging on innovative application of technology,\u201d it added. Up to five licenses may be issued, and notification of successful applications will be made in the first quarter of 2022, Bank Negara said. Seperately, These entities have collaborated under MyAngkasa Digital Services (MDS), a subsidiary of ANGKASA, to apply for an Islamic digital banking license from Bank Negara, according to a statement. A host of strategic partners, including digital banking provider, MAMBU, cloud solution specialist Amazon\u2019s AWS and licensed eMoney player, MRuncit Commerce (MCash eWallet), along with other ecosystem partners form part of the consortium that has also received full backing from the Ministry of Entrepreneur Development and Cooperatives (MEDAC) and the Cooperative Commission of Malaysia. During the initial foundation period, MDS Consortium is expected to focus on its captive market of 7 million people, most of which are in the unserved and underserved segments. The consortium aims to leverage on its combined brand loyalty, wide distribution channel footprints of cooperative networks, and its existing membership base to roll out its unique model of \u2018sachet banking\u2019 comprising innovative, simple daily banking products that suit its target segments such as dual savings, bite-size financing and a slew of digital financial management tools to support its customers in managing financial health and literacy awareness, MDS said. Boustead, a public listed conglomerate majority-owned by military retirement fund Lembaga Tabung Amanah Tentera (LTAT), is involved in various businesses including plantation, heavy industries, property, and pharmaceuticals among others. The conglomerate, which serves as the investment arm of LTAT, directly holds 20.81 percent and indirectly holds 0.03 percent in Affin Bank Bhd, a listed banking group in Malaysia. \u201cThe independent insurance broker\u201d has also a solid footing in Malaysia as it has been providing comprehensive solutions since 1978 focusing on specialist insurance, reinsurance, takaful, and employee benefit solutions, MDS said. \u201cThe pandemic has accelerated the adaptation of technology and eCommerce activity and we will deliver digital banking products that can be personalized to allow our customers to take control of their financial needs. We want to make banking simple by providing our customers full digital experience with innovative products and services that adapt to their lifestyles and requirements. We also want our digital bank to hold to the principles of Shariah-ethical banking without its traditional complexities,\u201d said MDS chairman and ANGKASA president Abdul Fattah Abdullah, who said he is positive about the prospect of securing one of the five digital banking licenses to be awarded. ANGKASA was officially registered as the national union of co-operative in 1971. Since its establishment, ANGKASA has played the role of the apex of cooperatives for the Malaysian cooperative movement. With the approval of the new Cooperative Act in 1993, ANGKASA was formally recognized by the government of Malaysia to represent the cooperative movement nationally and internationally."}, {"url": "https://technode.global/2021/07/02/airasias-bigpay-teams-up-with-state-linked-midf-pe-firm-ikhlas-capital-for-digital-banking-license-in-malaysia/", "page": 74, "title": "AirAsia\u2019s BigPay teams up with state-linked MIDF, PE firm Ikhlas Capital for digital banking license in Malaysia", "contents": "Malaysian budget airline BigPay has put together a consortium of strategic partners to support its application: Singapore-headquartered Ikhlas Capital is a private equity firm founded by CIMB Group former chairman and CEO Nazir Razak. Nazir is the chairman of Each of the consortium partners is \u201ccontributing something unique for the success of BigPay Bank,\u201d BigPay said in a statement on Thursday. \u201cIn addition to the consortium partners, BigPay is part of the AirAsia Group and has access to a broad ecosystem that includes e-commerce merchants and consumers, insurance and telecoms,\u201d it added. BigPay\u2019s consortium will be joining a crowded field for digital bank licenses on offer. Malaysia\u2019s central bank said it would issue up to five licenses by early 2022, and the deadline for the applications is the end of June 2021. Other notable applicants that have officially announced their application include Grab-Singtel venture, Axiata-RHB consortium, Paramount-Star Media Group, iFAST Corporation Ltd, among others. Malaysia\u2019s move comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers also hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. \u201cBigPay Bank will allow us to execute deeper on our mission to build a connected financial future for Malaysian consumers and entrepreneurs. If we\u2019re given the license, we\u2019ll be able to reach more Malaysians with a wider range of services \u2014 all with the goal of building a stronger Malaysia,\u201d said BigPay Founder and Chief Executive Officer Salim Dhanani. \u201cAirAsia Digital has a broad ecosystem of MSMEs and consumers, particularly in the Bottom 40 percent (B40) segment. BigPay, a subsidiary of AirAsia Digital, will have access to distribute financial services to this ecosystem adding overall value to everyone within it,\u201d AirAsia Digital President Aireen Omar said. AirAsia Group is in the midst of building its non-airline, digital businesses, and superapp as most of its planes were grounded due to the ongoing COVID-19 pandemic. AirAsia Group is reportedly operating at 19 percent of its pre-pandemic capacity, logging just over 2,000 outbound flights planned for the week of July 19, 2021 compared with 10,800 for the same week in 2019, according to an aviation news portal Simple Flight. MIDF Group is a financial services provider in three core business areas, investment banking, development finance and asset management. Consortiums and companies submit Malaysia digital banking license bids as deadline looms close, including Grab-Singtel ventureFeatured image credits: "}, {"url": "https://technode.global/2021/07/01/consortiums-and-companies-submit-malaysia-digital-banking-license-bids-as-deadline-looms-close-including-grab-singtel-venture/", "page": 74, "title": "Consortiums and companies submit Malaysia digital banking license bids as deadline looms close, including Grab-Singtel venture", "contents": "Several groups said they submitted bids for digital banking licenses in Malaysia as companies, including a property developer, media company, and credit services firm, which joined forces to apply for the sought-after licenses. The race for the five digital banking licenses heats up further as more consortiums and companies announced their application, including ride-hailing giant Grab-Singtel consortium, which bagged a digital full-bank license in Singapore last year. These consortiums also include overseas investors and technology partners from Singapore, Japan, and China. Grab-Singtel venture joins race to bid for Malaysia digital bank licenseSingapore Telecommunications Ltd \u201cThe digital bank joint venture between Grab and Singtel, together with a consortium of other investors, has applied for a digital bank license in Malaysia,\u201d Singtel said in a regulatory filing with Singapore Stock Exchange (SGX). Malaysia central bank Bank Negara Malaysia has said it would issue up to five licenses by early 2022, and the deadline for the applications is the end of June. Malaysia\u2019s move comes at a time when regulators across Asia including Singapore, Hong Kong, and the Philippines are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers also hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. SGX-listed iFAST leads consortium with army co-operative, Sultan Selangor\u2019s cousinSeparately, SGX-listed wealth management platform iFAST Corp will own a 40 percent stake in the digital bank if the application is successful. The beneficial equity ownership of the consortium will be approximately 57 percent Malaysian, it said in a statement. The Malaysian consortium partners are army credit co-operative Internationally, the iFAST Bank consortium comprises Yillion Fintech Pte Ltd which provides the core digital banking technology and capabilities for Lim Chung Chun, Chairman and CEO of iFAST Corp, said iFAST Bank can create positive change for the unserved and underserved market segments such as the Bottom 40 percent (B40) population in Malaysia. \u201cWith the synergistic capabilities within our consortium, the solutions offered for the B40 are ones that will provide immediate benefits and results \u2013 such as free life insurance, interest-free loans for daily necessities, and micro-investments and insurance. iFAST Bank will serve the B40 segment and be profitable while doing so,\u201d said Lim. Developer Paramount teams up with Star Media Group, RCE CapitalEarlier on Wednesday, Malaysia-based property developer \u201cWe wish to confirm that we made an application as a lead applicant of a consortium to Bank Negara on June 30, 2021,\u201d Paramount Group Chief Executive Officer (CEO) Jeffrey Chew said in a statement. The other members of the consortium comprise Chew, the former CEO of OCBC Bank (Malaysia) Bhd, said he hoped that through transformative technologies, Paramount would be able to bring innovative financial experience to Malaysians. Star Media Group is a media conglomerate 43.23 percent-owned by Malaysian Chinese Association, a political party that forms the coalition of the ruling government. Paramount recently invested in Fundaztic, a peer-to-peer (P2P) lending platform, marking its first steps into the financial technology sector. Paramount, Star Media Group, and RCE Capital are listed on the local bourse, Bursa Malaysia. AEON Credit Service and Tokyo-listed parent AEON Financial Service submit bidSeparately, Malaysia-listed \u201cThe company and AFS shall cooperate with each other by combining their expertise and resources to establish in Malaysia a joint venture company to engage in the business of a digital bank upon obtaining a licence,\u201d AEON Credit Service said in the filing on Wednesday. AFS, a public company listed on the Tokyo Stock Exchange, is the holding company for a financial services group engaged in credit card issuance, banking, leasing, life insurance, distribution of insurance products and other financial services, with operations in Japan and several other countries in Asia. Malaysia-listed FinTech firm Pertama Digital partners Crowdo, INFOPROAnother Malaysia-listed FinTech company \u201cThe Islamic digital bank envisaged by the Pertama Digital Bhd consortium places the financially unserved/ underserved customers at its heart. The digital bank aims to sustainably provide affordable and ethical financing products, while handholding the B40 and micro, small and medium enterprises to nurture good financial management, pouring rocket fuel into post-pandemic productivity,\u201d the company said in a bourse filing on Wednesday. Its consortium partner include Crowdo Holdings Pte Ltd, an SME-focused neobank for emerging ASEAN markets, homegrown banking solution provider INFOPRO Sdn Bhd. It said it has secured financial strength support for the digital bank by Labuan offshore bank Perfect Hexagon Commodity and Investment Bank Limited and ICT company Alsirat Sdn Bhd as investors on June 24. Other applicants include AirAsia\u2019s BigPay, Axiata-RHB consortiumE-waller operator BigPay, the FinTech arm of budget airline group AirAsia, On Tuesday, quoting sources, Reuters reported Malaysian conglomerate Sunway Group has teamed up with Tencent-backed Chinese FinTech firm Linklogis Inc and Bangkok Bank PCL to apply for a Malaysian digital bank licence. When contacted, \u201cWith our venture into digital banking, and leveraging our existing ecosystem, we aim to provide a comprehensive, seamless and easily accessible digital banking service,\u201d it said in a reply to Sunway aims to build a fintech ecosystem to promote financial inclusion for Malaysians as well as micro, small and medium enterprises (SMEs). It currently own and manage Sunway Money which is an online and licensed remittance house that is fully digital, uses eKYC. The group provides an invoice-factoring facility under Sunway Credit. Under Sunway Leasing, it also provides loans to its business partners to support their working capital requirements. Sunway also owns 51 percent stake in credit reporting agency, Credit Bureau Malaysia. Through its public relations department, Hong Kong-listed Linklogis told Malaysian telecoms firm Axiata Group Bhd and RHB Bank Bhd, one of the largest banking group in the country has said early last month they have teamed up to apply for for a digital banking licence. Razer has yet to respond to Featured image credits: "}, {"url": "https://technode.global/2021/06/28/fave-offers-buy-now-pay-later-service-in-singapore-and-malaysia/", "page": 74, "title": "Fave offers \u2018Buy Now, Pay Later\u2019 service in Singapore and Malaysia", "contents": "Southeast Asian loyalty and cashback platform The service is available on the Fave app for iOS users on Monday, followed by an Android release in July 2021, Fave said in a statement. Eligible users will be able to split purchases over three equal, interest-free installments. Repayments will be automatically drawn every month, with no fees charged for on-time payments. In addition, customers will earn up to 10 percent cashback with every purchase, it added. FavePay Later is available at all Fave merchants in Singapore and Malaysia on Monday, including marquee brands in popular retail verticals such Pandora, Marks & Spencer, Best Denki, Puma, GNC, among others. The launch of FavePay Later comes at a time of pent-up demand among consumers after prolonged periods of lockdowns and social restrictions, with cash-strapped consumers seeking easier access to credit and merchants seeking innovative ways to revive ailing sales, Fave said. Fave will be joining the BNPL bandwagon with Singapore-based BNPL startups such as hoolah, Atome, OctiFi and Rely which provide similar services in the city-state. In Malaysia, Southeast Asia tech giant Grab has run a rebate promotion in Malaysia last month to lure new users to sign up for the service. In the region, Grab\u2019s rival Gojek has also offered a similar service. E-commerce platform Shopee introduced SPayLater through its app in January this year. Other companies providing BNPL options include Kredivo and Traveloka. \u201cWe are excited to continue providing technology that helps our customers shop better, especially in the lead up to the reopening of shopping post-COVID lockdowns,\u201d said Fave Chief Executive Officer Joel Neoh. \u201cIt\u2019s also becoming increasingly critical for merchants to work with partners that have integrated solutions such as Fave who cater for cashless payments, loyalty, and now, installment payments that ultimately take care of all the processing and risk for merchants. In addition, merchants gain access to valuable user behavior data and insights via Favebiz. com,\u201d he added. BNPL is poised to grow rapidly in Southeast Asia. New research from Juniper Research found that, by 2026, BNPL services will account for over 24 percent of international e-commerce transactions for physical goods by value, from just 9 percent in 2021. The research also found that the global number of BNPL users will exceed 1.5 billion transactions in 2026, from 340 million in 2021. The market is set to grow from $7.3 billion in 2019 to $33.6 billion in 2027 at a compound annual growth rate (CAGR) of 21.2 percent, with the Asia Pacific leading the growth, according to key estimates from Coherent Market Insights. Fave recently opened up their API integration for online e-commerce platforms to support FavePay payments with buy now pay later and loyalty cashback features. With a growing number of partnerships with large tech firms in 2021, Fave will extend its BNPL offering to some of the largest online commerce companies in Southeast Asia within the latter half of 2021, the company said. In April 2021, Fave was acquired by Indian fintech unicorn, Pine Labs, to accelerate joint global expansion. Fave currently operates in 35 cities across Malaysia, Singapore, and Indonesia. Fave will be launching in India in 2021."}, {"url": "https://technode.global/2021/06/15/malaysia-healthtech-startup-bookdoc-partners-with-childhope-philippines-foundation-for-csr-collaboration/", "page": 75, "title": "Malaysia HealthTech startup BookDoc partners with Childhope Philippines Foundation for CSR collaboration", "contents": "BookDocBookDoc, with a presence inThe company is backed by a diverse group of investors from entrepreneurs to seasoned healthcare and insurance professionals, bankers, regulators as well as ICT professionals. It is available online via the App Store, Google Play Store, and Huawei App Gallery. \u201cWe appreciate the opportunity provided whereby BookDoc can play a part in giving back to the society while expanding its presence to the PhilippinesDr. Herbert Quilon Carpio, Childhope Philippines Executive DirectorBookDoc was a finalist at the ORIGIN Innovation Awards in 2020. Announcing the finalists for the ORIGIN Innovation Awards 2020Featured image credits"}, {"url": "https://technode.global/2021/03/03/quest-ventures-and-scaleup-malaysia-team-up-to-invest-in-11-companies-for-quest2scale/", "page": 75, "title": "Quest Ventures and ScaleUp Malaysia team up to invest in 11 companies for #Quest2Scale", "contents": "Quest VenturesScaleUp Malaysia Managing Partner Tay Shan Li comments on the companies\u2019 selection process: \u201cWe had some amazing companies joining us as part of this cohort and we are proud of how far each of them has progressed in the program. This was a very difficult decision but ultimately, the investment committee selected the companies that they believed had the potential to grow their business regionally with the support of our partner, Quest Ventures. \u201dSince the initial selection of 20 companies in ScaleUp Malaysia\u2019s Cohort 2, the Quest Ventures team has been very much involved. The VC firm has been holding one-on-one sessions to train the different companies. Quest Ventures also took part in ScaleUp Malaysia\u2019s selection process for the 11 companies, 65 percent of which are proudly owned by women founders. \u201cOur work across the Asia Pacific, and now Central Asia, have shown us that resilient founders with innovative business models and go-to-market nous have what it takes to be successful during these challenging times. We are inspired by the desire and commitment of the founders we have worked with in ScaleUp Malaysia\u2019s Cohort 2 and we are excited to continue this journey with these 11 companies in the years to come,\u201d said Jeffrey Seah, Quest Venture Managing Partner. The selection and investment are only the beginning for the 11 companies\u2019 #Quest2Scale. Quest Ventures and ScaleUp Malaysia will be helping these companies as they go through an intensive process to develop and execute plans."}, {"url": "https://technode.global/2021/02/25/chinas-black-lake-continues-to-digitize-industrial-china-and-apac-with-77m-series-c/", "page": 75, "title": "China\u2019s Black Lake continues to digitize industrial China and APAC with $77M Series C", "contents": "Chinese digital collaboration company Black Lake was founded in 2016 by its current Chief Executive Officer, Zhou Yuxiang. The startup helps factories and manufacturers to digitize their operations through its industrial software platform. It focuses on creating custom \u201ccollaborative SaaS software for manufacturing that uses data to drive production efficiency. \u201dIn an Since launching its cloud-based SaaS platform in 2018, the company has served manufacturing companies across Mainland China, Hong Kong, Macau, Taiwan, and Southeast Asia. Black Lake provides customized solutions for its clients by utilizing an onboarding system similar to building Lego blocks. Clients can customize the software\u2019s functions based on their needs. Black Lake leverages its platform by offering a more affordable option for its services at roughly $46,000 (CNY 300,000) annually as compared to other foreign SaaS platforms at $464,000 (CNY 3 million). BAI Capital Managing Director William Zhao Black Lake plans to use its fresh capital to invest in product development, manpower, market expansion, and to create an open platform for third-party partners. Instead of investing in developing different kinds of programs to meet its clients\u2019 needs, the company decided to open up its platform and partner with companies such as Huawei, Alibaba, SAP, and McKinsey, which specialize in telecommunications, cloud computing, automation, and consulting. The company also plans to leverage its latest partnership with the Singaporean Temasek Holdings to further penetrate the Southeast Asian market, specifically in Vietnam and Malaysia. Open, shared data is the future of China\u2019s industrial world: Black Lake"}, {"url": "https://technode.global/2021/02/03/malaysian-digital-used-car-trading-platform-carsome-eyes-nyse-listing-after-raising-series-d/", "page": 75, "title": "Malaysian digital used car trading platform Carsome eyes NYSE listing after raising Series D", "contents": "In an This comes shortly after Carsome Carsome is a Malaysia-based automotive e-commerce platform. It aims to change the used car trading landscape by automating processes and giving customers an overall easier time while they transact. With its end-to-end business platform, it is able to take care of everything from car inspection, ownership transfer, and financing. Carsome even determines proper rates through a pricing algorithm. The company has an inclusive approach with its operations\u2013rather than directly compete with incumbent dealerships, its business model involves partnering with used car dealerships, enhancing their operations through technology. Since its founding in 2015, Carsome has changed the used car trading market in Southeast Asia. Its digital platform Cheng mentioned that some of the biggest hurdles of the used car market are transparency and the amount of effort and paperwork needed to fulfill a transaction. Aside from the hidden fees that appear with each transaction, the traditional customer experience for car owners looking to sell their car and used car buyers contain some pretty difficult, confusing, and even varying steps. Selling a car could take months and prices will vary from each dealership that you go to. When you buy a used car, information is hard to come by, and listing expectations are usually not met after seeing the actual unit. Carsome\u2019s platform aims to address all of these pain points by providing an end-to-end service that reduces transactional friction and improves transparency. Juliet Zha also mentioned how the company is capitalizing on how the coronavirus pandemic has accelerated digital adoption all over the world. She explained how it took more than 10 years for digital to achieve a 3 percent market share in retail. In 2020 alone, she claims it has now gone up to 6 percent. As Watch the interview here:"}, {"url": "https://technode.global/2021/01/30/social-finance-platform-global-sadaqahs-flash-funding-provides-insights-into-shariah-compliant-crowdfunding/", "page": 75, "title": "Social finance platform Global Sadaqah\u2019s flash-funding provides insights into Shariah-compliant crowdfunding", "contents": "Global SadaqahThe 72-hour flash-fundraising campaign surpassed the minimum target of around $49,475 (MYR200,000), attracting investors from 10 countries including strategic angel investors. A number of the angel investors include notable managers of large investment firms, namely Singapore-based Azmi Muslimin, GCC-based Khaled Fouad and Awaiz Patni. A statement shared by Islamic FinTech venture builder Ethis Ventures with \u201cIt features a variety of campaigns from its screened and verified Charity Partners. Current open campaigns include urgent aid for natural disasters in Malaysia and Indonesia and Covid-19 related relief efforts,\u201d the statement added. Azmi Muslimin said, \u201cGlobal Sadaqah is tackling head-on the challenges in the niche and sizeable Islamic social finance space. I am excited at the opportunities to grow, and more so on the impact we seek to create in this difficult time for humanity. \u201dKhaled Fouad added: \u201cI felt compelled to invest in an impact-focused technology company like Global Sadaqah. We have big ambitions to make a difference and create an enduring ripple effect for good. \u201dAwaiz Patni, who is the CFO of a large business group, highlighted the transparency and accountability espoused by the platform. \u201cThere are so many causes and campaigns raising funds online and it can be difficult to know which are legitimate. We need to give responsibly especially when the need is so high today. Global Sadaqah checks all the boxes \u2013 leveraging technology to minimise cost and maximise reach, working with reputable organisations and offering a platform to Muslims globally to give to causes close to their heart. \u201dGlobal Sadaqah was also awarded the Best Social Impact Islamic Fintech Firm in 2018 from Muhammad Alim, co-founder and Chief Product Officer for Global Sadaqah, said: \u201cThe global charity system faces an increasing pressure to be transparent in its operations. In light of this, Global Sadaqah aims to provide high-tech solutions for corporate financial institutions, charitable organizations and other government entities involved and to be the nucleus of the Islamic social finance ecosystem. We have a successful proof of concept with leading financial institutions in Malaysia. \u201dIfran Tarmizi, Global Manager of Sadaqah for Malaysia, said that the investment received will be used to expand the services offered in Malaysia, as well as increase their influence in key markets and adapt to new technologies. \u201cIt is more important now than ever to enhance the distribution, impact and especially the sustainability of large donors and corporate zakat. We seek to provide a one-stop service for Muslim-owned companies and business owners to distribute their social funds. \u201d"}, {"url": "https://technode.global/2021/01/26/istore-isend-secures-5-5m-series-b-for-e-fulfillment-expansion-co-led-by-gobi-partners-and-easyparcel/", "page": 75, "title": "iStore iSend secures $5.5M Series B for e-fulfillment expansion co-led by Gobi Partners and EasyParcel", "contents": "End-to-end fulfillment solutions provider \u201cGobi is happy to announce today that our Malaysian portfolio company, iStore iSend, has just closed their Series B round of US$5.5 M, which was co-led by our firm and local logistics player EasyParcel,\u201d the company said in a statement to TechNode Global. Gobi Partners also relayed that the newly raised funds will be used to expand iStore iSend\u2019s business activities. \u201cThe round will be used to expand their business to other SEA markets such as Thailand and Vietnam, as well as the acquisition of new clients in Malaysia. \u201diStore iSend currently operates in four countries: China, Malaysia, Indonesia, and Singapore. The company looks forward to bringing its services to other markets in Southeast Asia including Vietnam, Thailand, and the Philippines. Also, a part of the new funding will be utilized in marketing campaigns to attract more online-to-offline (O2O) clients in existing markets. \u201cWe are looking forward to being able to offer our services to even more e-commerce players in the region,\u201d said iStore iSend Co-Founder Joe Khoo as he explained the competitive edge of their company. Khoo maintains that iStore iSend\u2019s strengths lie in its high inventory turnover and SKU fulfillment. Tommy Yong, iStore iSend Co-Founder, also lauded the new investment. \u201cThis investment comes at a great time, especially during this trying period, where going online is a requirement by most businesses in order to survive. iStore iSend will be able to offer e-commerce supply chain digitization to help even more businesses transition into e-commerce,\u201d said Yong. Started in 2015, iStore iSend offers a range of services to clients involved in storage and delivery arrangements with e-commerce businesses. Additionally, it provides value-added services including shipment tracking and the real-time management of inventory. The company also has a proprietary warehouse storage management system employed in its SKU hubs. \u201cThe full-stack services that iStore iSend offers its clients as well as the full integration of its system into the most popular e-commerce sites is a real opportunity for investors that should not be overlooked,\u201d Gobi Partners Founding Partner Thomas G. Tsao explained. He believes that iStore iSend is \u201cin a strong position\u201d to help e-commerce companies that are dealing with the logistical challenges brought about by the pandemic. Gobi Partners leads China VC charge into Southeast AsiaThe co-lead in the Series B for iStore iSend, EasyParcel, is also a recipient of investments from Gobi Partners, and they are pleased to be part of the funding round. \u201cHaving been on the receiving end of fundraising, it\u2019s gratifying to come full circle and invest in a company whose business is increasingly becoming the backbone of the e-commerce industry,\u201d said Clarence Leong, the CEO and Founder of EasyParcel. Leong praised iStore iSend\u2019s growth and the importance of its services amid the pandemic. \u201cThis strategic investment adds value to EasyParcel\u2019s customers as they can seamlessly unlock iStore iSend\u2019s fulfillment solutions and e-enabler services. Investing into iStore iSend strengthens our \u2018Delivery Made Easy\u2019 tagline,\u201d Leong added. In a Featured image credit"}, {"url": "https://technode.global/2021/01/26/singaporean-vc-firm-kk-fund-returns-to-lead-malaysian-startup-capbays-20m-series-a/", "page": 75, "title": "Singaporean VC Firm KK Fund returns to lead Malaysian startup CapBay\u2019s $20M Series A", "contents": "Malysian supply chain finance platform KK Fund has been investing in tech startups in Southeast Asia, Hong Kong, and Taiwan since 2015. It has been expanding its portfolio in multiple businesses around Southeast Asia. This includes its first investment in CapBay, formerly known as CapitalBay, is a Kuala Lumpur-based fintech startup involved in supply chain finance and peer-to-peer (P2P) financing. Since being established in 2016, it has been helping numerous businesses across Southeast Asia by providing innovative financing solutions. The company announced that the fund will be used to expand its market reach for new potential platform investors and to further improve its technology in providing financing solutions for underserved SMEs. The company has had an impressive track record having facilitated over $197.6 million (MYR800 million) across roughly 9,000 transactions since 2017. In December 2020, the company In September 2020, CapBay secured a Featured image"}, {"url": "https://technode.global/2021/01/22/malaysia-private-equity-firm-creador-plans-650m-fifth-fund-by-march-2021/", "page": 75, "title": "Malaysia private equity firm Creador plans $650M fifth fund by March 2021", "contents": "Malaysian private equity firm Although the firm has not yet announced the fund, Brahmal Vasudevan, Founder and Chief Executive Officer at Creador, has told In July 2019, Creador closed its fourth venture fund at $565 million, exceeding its hard cap of $550 million. The firm is targeting to exceed that amount in its current fund. Creador was founded by Vasudevan in 2011 wherein it launched with a $130 million maiden fund. Creador has a total of $1.5 billion in Assets Under Management across its four funds to date. Vasudevan, in an interview with In terms of successful exits, the firm cashed out on its investments in Indian financial services provider Cholamandalam in 2016, Somany Ceramics, GHL Systems, and City Union Bank all in 2017, as well as partial exits in Repco (2014) and Old Town White Coffee (2017). The firm has successfully exited Mr. DIY upon its IPO, the biggest of Bursa Malaysia, at $370 million. It has also reportedly partially exited its investment in Indonesia-based packed food and beverage manufacturer Cimory Group as of February 2020. Featured image"}, {"url": "https://technode.global/2021/01/09/malaysias-time-dotcom-acquires-controlling-stake-in-avm-cloud-in-a-major-cloud-computing-push/", "page": 75, "title": "Malaysia\u2019s TIME dotCom acquires controlling stake in AVM Cloud in a major cloud computing push", "contents": "TIME dotCom BhdThe acquisition deal comes with the condition that AVM buys over its subsidiary company Integrated Global Solutions Sdn Bhd. TIME dotCom confirmed that AVM already completed the acquisition, with the company paying approximately $1.3 million to obtain 40 percent stake in Integrated Global Solutions and make it a wholly-owned subsidiary of AVM. Following the completion of both deals, AVM Cloud\u2019s capital is set to increase as TIME dotCom gets issued new shares. The new shares are equivalent to the shares of AVM Cloud\u2019s founding shareholders and the minority shareholders of Integrated Global Solutions, which have a total subscription price of around $1.9 million. This stake purchase in AVM Cloud Sdn marks the start of TIME dotCom\u2019s plan to expedite the growth of its cloud computing business. AVM Cloud\u2019s addition to the company brings a new range of product offerings that address the needs of enterprise customers throughout the Southeast Asian region. \u201cThis acquisition signals TIME\u2019s efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed line services, global network connectivity and data centres,\u201d TIME dotCom said in a statement. Serial-entrepreneur Afzal Abdul Rahim, TIME dotCom\u2019s Commander-in-Chief, expressed enthusiasm over the prospects of having cloud computing as part of the company\u2019s spectrum of products and services. \u201cTIME is excited to grow cloud computing as the next pillar of our business. We believe we\u2019ve found the right partners in AVM, considering their comprehensive product suite and customer base. We warmly welcome them to the TIME family and look forward to establishing a regional cloud business with them across ASEAN,\u201d Rahim said. TIME dotCom\u2019s statement regarding the acquisition praised AVM Cloud for having an \u201centrepreneurially spirited business that encompasses the best that Malaysia has to offer,\u201d noting that the company has built a strong foundation in offering cloud services that compete with and complement those being offered by other cloud service companies in the ASEAN region. AVM Cloud is a homegrown Malaysian brand established by a quintet of Malaysian entrepreneurs. It grew to be among the leading VMware solutions providers not only in Southeast Asia but also in North Asia, serving more than 250 enterprise customers. Its range of products includes multi-tenancy virtual private cloud, dedicated cloud, hybrid cloud, an on-premise OPEX model called \u201cCloud-in-a-Box\u201d, desktop-as-a-service, data protection, managed cybersecurity, and various storage and network solutions. AVM Cloud Chief Executive Officer David Chan expressed elation in becoming part of the TIME dotCom family. \u201cWe are happy to have joined the TIME family as this has given AVM Cloud the opportunity to scale and grow and extend our products and services to the Group\u2019s customer base,\u201d Chan siad. He added that AVM Capital is looking forward to capitalizing on TIME\u2019s clout in the region. As of January 8, 5:00 PM GMT+8, TIME dotCom\u2019s stock price rose by 2.70 percent or 0.36 points to $3.39 (13.68 MYR). The price is at its highest over the last five days, with 246,900 shares traded and the company\u2019s market value at $2.047 billion. Image credit: TIME dotCOM"}, {"url": "https://technode.global/2020/12/18/carsome-group-co-founder-and-ceo-eric-cheng-on-addressing-pain-points-in-a-decades-old-industry/", "page": 75, "title": "Carsome Co-Founder and Group CEO Eric Cheng on addressing pain points in a decades-old industry", "contents": "Anyone who is looking for a good deal on a used car knows the pain points. Unless you have considerable knowledge or expertise in automobiles, chances are you will have difficulty finding a good car that fits your budget. You might be getting a car that has hidden issues that could be expensive to repair or maintain in the long run, for example. For a seller, finding the right buyer can also be a challenge, particularly if you want your car to fetch a good price at the right time. And while buyers and sellers can often get good deals from personal transactions, dealer certification adds to the confidence that a car you\u2019re buying at least passes certain standards. I recall one luxury brand selling certified used cars using their tagline as \u201cSometimes brand is more important than new. \u201d This is a play on the term \u201cbrand new,\u201d wherein the company puts stress on the importance of the brand and the certification rather than newness of the vehicle. Certified pre-owned cars from that luxury brand come with their own warranty\u2013mostly unheard-of in transactions involving used automobiles. It might be high time to apply the same concept to the used car market regardless of whether it\u2019s a luxury vehicle or an inexpensive daily driver. CarsomeThe company recently In this interview, Eric Cheng, Carsome Co-Founder and Group Chief Executive Officer, shares his insights on the company\u2019s strategy in using data, innovations, and partnerships to address the industry pain points and expansion in Southeast Asia. The used car industry is one marred with distrust, mainly due to the lack of transparency. For car owners, selling a car is a painful process. It could take a few months just to sell a used car through offline businesses, involving visits to multiple dealerships. Often, consumers would sell their cars at a disadvantaged price due to pricing discrepancies. For used car buyers, it is often difficult to obtain full information of the cars they wish to purchase. It is not unusual for them to request to view a seemingly decent used car on listing pages, to be then offered a subpar car during viewing or test drive. There is also the worry of problematic cars, or the lack of after-sales service. For used car dealers, sourcing for constant, quality inventory is a challenge, especially for those not located in big cities. For car sellers, our process is convenient and efficient. They can first book an appointment online, before heading to a Carsome inspection centre to get a free, 30-min car inspection. They then have the option to accept the on-the-spot price offer, or put their cars up onto Carsome\u2019s bidding platform that is accessible by nationwide car dealers, giving them access to the best possible price. Upon agreement of sale, Carsome will then manage all the paperwork for sellers before paying the sellers as quickly as an hour. For car buyers, their journey with Carsome starts with browsing of car models online \u2013 on Carsome\u2019s website, or even on e-commerce sites such as Lazada and Shopee. They can then book for test drives at a Carsome Experience Center, or opt for home test drives. After a purchase confirmation, Carsome will also manage the end-to-end paperwork, before buyers collect their new purchase, or have their cars home-delivered. All Carsome car buyers are covered under the Carsome Promise, which offers a one-year warranty, a Carsome Certified car and a 5-day money-back guarantee. All Carsome Certified cars have undergone a 175-point inspection, have not been in a major accident, and do not have structural or flood damage. As for used car dealers, they can access a constant stream of used cars that have undergone a 175-point inspection, complete with damage report via Carsome\u2019s platform. They can also list their inventories for sale on Carsome\u2019s website, tapping on our extensive marketing reach to sell their inventories faster, a value-added service exclusively for our partner dealers. Automotive e-commerce platform Carsome raises $30M Series D to accelerate expansion in Southeast AsiaThroughout our five years of helping consumers sell their cars, we have developed the largest supply of used cars, comprehensive car inspection and grading standards as well as sophisticated data intelligence. Our data intelligence enables us to learn about demand in a detailed and dynamic manner, gain a better understanding of our products to ensure constant improvement, and control supply chain (in terms of inventory procurement and management). Before entering any market, it is important to understand the local landscape, be it the needs, problems, behaviors, etc. of our stakeholders. We need to identify the problems or pain points, before deciding how to offer a long-term and sustainable solution. For Carsome, it is always about addressing the pain points of the used car market, which are mainly similar across most Southeast Asian countries. Subsequently, we need to work on engaging local partners and talent to form a strong foundation in each country. After gaining a regional footprint, we are now putting our focus on expanding vertically to second and third-tier cities in each country, to further strengthen our dealer network and to offer our solution-based offerings to used car sellers, buyers and dealers across cities. Back then, there was no single systemised platform within the used car market. Therefore, my business partner (Carsome co-founder and current Chief Business Development Officer) Jiun Ee Teoh and I founded Carsome in 2015 to address the industry pain points by providing a transparent and hassle-free service on our platform. From free car inspections, offering an on-the-spot sell price or listing consumers\u2019 cars onto our bidding platform, to managing paperwork for sellers, car owners can sell their cars in 24 hours or less. This year, we launched our business-to-consumer service through the introduction of \u201cThe New Way of Buying Cars\u201d, an online-to-offline used car-buying experience that offers customers extra assurance on top of the same transparent and convenient proposition we have been offering for the past five years. We have also grown our workforce from five to over 1,000. Last month, we celebrated our 100,000th car seller, a milestone achieved within five years of establishment."}, {"url": "https://technode.global/2020/12/08/automotive-e-commerce-platform-carsome-raises-30m-series-d-to-accelerate-expansion-in-southeast-asia/", "page": 76, "title": "Automotive e-commerce platform Carsome raises $30M Series D to accelerate expansion in Southeast Asia", "contents": "Automotive e-commerce platform With operations across Malaysia, Indonesia, Thailand and Singapore, Carsome aims to digitize the region\u2019s used car industry by reshaping and elevating the car buying and selling experience. Founded in 2015 in Malaysia, the company pr\u201cWe will use this capital to strengthen our existing regional leadership in consumer-to-business (C2B) used car e-commerce and accelerate our already successful new offering in the business-to-consumer (B2C) segment. We look forward to rolling out Southeast Asia\u2019s first-ever C2B and B2C integrated e-commerce platform for used cars, a significantly superior new retail experience,\u201d says Eric Cheng, Co-Founder and Group Chief Executive Officer of Carsome. \u201cOver the past six months, we have doubled our monthly revenue compared to pre-pandemic levels, a dramatic acceleration due to the impact of the ongoing Covid-19 pandemic on consumer behavior across our region,\u201d Cheng added. \u201cConsumers across our core markets of Malaysia, Indonesia, Thailand, and Singapore are increasingly purchasing cars to keep their families safe and adapt their businesses. \u201dCarsome\u2019s business model includes vehicle inspection and certification prior to placing these on the market, aimed at building consumer trust in a traditionally offline and fragmented industry. The company also provides extended warranties and money-back guarantees to purchases on the platform. \u201cOur Series D round will further support potential merger and acquisition opportunities in acquiring ancillary capabilities and consolidating our supply chain,\u201d says Juliet Zhu, Carsome Group Chief Financial Officer. Earlier this year, The company recorded its highest revenue quarter in history as of the third quarter of 2020, doubling its revenue from the pre-pandemic period. In November 2020, Carsome celebrated its 100,000th car sold through its platform, which the company considers an important milestone achieved within five years of founding. Image"}, {"url": "https://technode.global/2020/11/26/ai-startup-pulsifi-bags-us1-8m-in-angel-funding-to-boost-europe-expansion/", "page": 76, "title": "AI startup Pulsifi bags US$1.8m in angel funding to boost Europe expansion", "contents": "ARTIFICIAL intelligence (AI) company Pulsifi, which is based in Singapore and Malaysia, has raised US$1.8 million in angel funding to boost its expansion to new markets in Europe and accelerate product enhancement. This investment brings Pulsifi\u2019s total funding to $4 million. New investors in this round include Aaron Chen, founder of KVC group of companies, Kairous Capital, and Rajesh Lingappa, co-founder & former CTO of RedMart, who are joined by existing investors. Pulsifi has operational bases in Malaysia and Singapore, and customers in six Southeast Asian countries including Nestl\u00e9, RB, Heineken, Baxter, Singtel, and Hartalega. Pulsifi\u2019s People Data Platform predicts outcomes of people at work with over 90% accuracy, helping enterprises significantly improve quality and efficiency in Talent Acquisition and Talent Management. \u201cWith COVID-19, we had to adapt our plans for 2020. We are fortunate to still hit the goals we set out to achieve. During the pandemic, we expanded to serving customers in the healthcare, high-growth manufacturing and telco sectors,\u201d said Jay Huang, Co-founder & CEO, Pulsifi. \u201cAs employers became more selective in hiring, we took the opportunity to enhance our platform to better support our customers with their existing employees as well. \u201dInvestor Aaron Chen, founder of KVC group of companies, which has multiple businesses in diverse industries and countries, said, \u201cAs a strong believer in bringing out the potential of people, I was struck by how the Pulsifi team is also so passionate about that vision. Pulsifi benefits any company that values its people, and I am keen to support its growth among my businesses and around the world. \u201d\u201cPulsifi is a unique B2B company that built a compelling product that is relevant globally, not only in its home markets,\u201d added Joseph Lee, partner at Kairous Capital, a cross-border venture capital firm. \u201cWe are excited to partner Pulsifi on their journey to achieve their ambitions. \u201dPulsifi\u2019s People Data Platform unifies multiple hard skills and soft traits data on each candidate or employee, and accurately predicts each person\u2019s work styles, role fit, culture fit, and other outcomes. Pulsifi\u2019s People Science is backed by over 50 years of organizational psychology research. With this latest round of funding, Pulsifi is committed to strengthening its product development across the talent lifecycle from hiring selection to high-potential employee management, to personalized learning and development. \u201cTalent Acquisition and Management at scale is very hard, and I experienced this first hand. Pulsifi is solving this problem in a very unique way, and the team has built a strong technology platform to do so at scale,\u201d said Rajesh Lingappa, Co-founder and Former CTO, RedMart. Fresh off winning first place at the\u201cOur regional team has been working with Pulsifi to support multiple countries within Nestl\u00e9. They have been flexible to our needs and dependable as a thought partner. They have incorporated our feedback to improve their product proposition which is well appreciated. I look forward to a more fruitful partnership, as we expand further to more countries\u201d said Anjali Menon, head of talent center of competence \u2013 Asia Oceania and Sub-Saharan Africa, Nestl\u00e9. \u201cPredictive Analytics and AI are taking HR and business to the next level, and Pulsifi is successful in partnering enterprises with their innovation. With many of their customers headquartered in Europe, the market is a natural expansion for Pulsifi,\u201d said Peter Vogt, Advisor to Pulsifi, Former Chief HR Officer, Nestl\u00e9 and Chairman, Nestl\u00e9 Deutschland. \u201cI am excited to support Pulsifi\u2019s growth globally. \u201d"}, {"url": "https://technode.global/2020/10/27/origin-conference-2020-announcement/", "page": 76, "title": "ORIGIN Conference 2020 Virtual | Startup Asia: Celebrating the spirit of innovation and entrepreneurship", "contents": "The fifth edition of ORIGIN Conference is set to go virtual on Nov. 18, 2020. It is organized by TechNode Global, a pan-Asia tech platform offering premium tech news, cross-border businesses, events, and tailor-made marketing solutions for tech industry players. The ORIGIN Conference is an international event covering the latest developments in the Asia tech and startup scene where international industry leaders and technology innovators from across the region gather to share trends, experiences, and leadership lessons. With the theme \u201cStartup Asia: Celebrating the spirit of innovation and entrepreneurship,\u201d this year\u2019s ORIGIN will be held in conjunction with The inaugural ORIGIN Innovation Awards winners will be announced during the conference, recognizing outstanding startups, corporates, ecosystem enablers and movers and shakers in Asia. In the conference section, the ORIGIN Conference will see regional luminaries and forerunners from more than ten countries take to the stage, including:The virtual conference consists of a series of panel sessions, intimate fireside chats and more which further explore topics ranging from livestream commerce to digital health, from venture investment to female entrepreneurship, focusing on the recent developments and predictions on the growth trajectories. Dr. Gang Lu, founder and CEO of TechNode Global, said, \u201cNow is not the time to slow down, and we are thankful to be able to host our flagship conference despite the challenging macro environment. It is important for the greater Asian community to adopt an attitude of collaboration rather than competition when dealing with the wider international community, which is why this conference is timely and essential in the current climate. We are bringing this online for the first time and we believe the partnership with TechFest Live allows both organizations to reach a wider group of audiences. We look forward to gathering like-minded outstanding startups, venture capitalists and industry experts to share their valuable insights and predictions. \u201dNgai Yuen Low, CEO of WCIT Malaysia and TECHFEST Live, said \u201cTECHFEST is very honored to forge forward with TechNode Global, tapping on their expertise in identifying the conversations we must have. The above and beyond, however, is in making these conversations inclusive and accessible to as many as possible. Our call is to reframe the promises of the digital age. We need to hold every innovation accountable for societal good and this can only happen when informed decisions can be easily made because everyone is involved and is able to participate. \u201dUse code \u201cTrend explained: Everything you need to know about livestreaming eCommerceFostering global AI adoption with iFLYTEKDigital health gaining momentumHarvest the future: Big opportunities for plant-based foodDigitizing small merchants in IndiaReimagine insurance in the digital ageWhat\u2019s the new formula for education in the Philippines?Building resilience in supply chain & logisticsWhere\u2019s the new cash for startup founders?How Japanese startups are building a smart and sustainable cityThriving in the #SheEra: It\u2019s time to shine for women entrepreneursAbout ORIGIN ConferenceORIGIN Conference by TechNode Global will be taking place on Nov. 18 at TECHFEST Live x ROAD-TO-WCIT Malaysia 2020, with the theme \u201cStartup Asia: Celebrating the spirit of innovation and entrepreneurship\u201d. About TechFest Live x Road-to-WCIT 2020 MalaysiaA hybrid of physical and digital technology festival, TECHFEST2020 LIVE is a three-day global technology event from Nov. 18-20, 2020, packed with immersive virtual reality experiences and interactive programs. It will feature insights from industry leaders, showcase new technology and share inspiring impact stories from across the world, while highlighting George Town, a UNESCO World Heritage Site in Penang. The event will be telecasted live in addition to online streaming across 83 countries with additional on-demand access. TECHFEST2020 LIVE will also include private B2B matching, virtual exhibitions, and targeted O2O activities. TECHFEST2020 LIVE will host three main innovation conversations: a special edition of the World Congress on Information Technology, ROAD-TO-WCIT MALAYSIA; ORIGIN Conference by Technode Global; and5G Malaysia as its main innovation conversations. ROAD-TO-WCIT MALAYSIA is a lead-up to the World Congress on Information Technology, WCIT Malaysia 2022."}, {"url": "https://technode.global/2020/09/15/superseed-ii-championship-four-winners/", "page": 76, "title": "Meet the 4 winners of Gobi\u2019s SuperSeed II Championship", "contents": "After several months of paring down from 64 initial startups over four stages of evaluations, Malaysia\u2019s SuperSeed II Championship on Friday reached its crescendo with the crowning of four winning teams. The conquering quartet of early-stage startups impressed a panel of judges at a live pitch session held in conjunction with The four winners are: Lokein, Mycash, Speedhome, and Stixfresh. Who are they, exactly? Well, we caught up with the founders to find out more\u2026LokeinLokeinIt\u2019s aiming to solve the laborious, manual, and scam-plagued arena of buying, selling, or trading secondhand items\u2014which often occurs over social media\u2014by adding the kind of conveniences and safeguards for both shoppers and merchants that you expect on major shopping apps. \u201cSocial media is not quite a proper place to conduct trading business activities,\u201d he states. Launched in April 2019, Lokein now has 1,300 merchants listing nearly 10,000 items. Around 80% of its transactions are happening in its native Malaysia, with the US, Indonesia, and Vietnam forming much of the rest. It\u2019s aiming at growing across Southeast Asia. The CEO points to Vinted, a startup from Lithuania that last year \u201cBefore the competition was announced, Lokein was in the process of fundraising a seed round,\u201d he explains. \u201cWhen we heard that Gobi Partners, MDEC, and MAVCAP are launching their new Superseed Fund II initiatives in the concept of a pitching tournament championship, we thought this may be a great opportunity for us to gain experience. Thus we straight away applied and sent in our pitch deck to be evaluated for the competition. \u201dMycashMycash\u201cI am a migrant myself. I came to Malaysia in 2007 from Bangladesh as a student,\u201d founder Mehedi Hasan tells That\u2019s why Hasan in 2016 left his corporate job and established Mycash with two friends. \u201cI have invested all my savings and later raised some investment in 2017. We now have 25 employees in three offices from different backgrounds, cultures, and religions,\u201d he explains. \u201cMoreover, 40% of our employees are female, including my co-founder. \u201dOver the years it has been used by 150,000 migrants across Malaysia, Singapore, and Australia, who have completed over 3 million transactions worth more than $20 million. Its users typically wire money back to families across South Asia. Next, the startup is plotting expansion to Middle Eastern markets including Saudi Arabia, which also have significant numbers of migrant workers hailing from South Asia. Hasan was drawn to the SuperSeed II Championship by the Gobi name as well as by the Championship understanding the importance of what the VC firm calls TaqwaTech\u2014services focused on Muslim consumers. That appealed to the co-founders of Mycash, more than 95% whose customers are Muslim. \u201cWe believe we have a common mission to serve the most neglected Muslim market,\u201d says Hasan. SpeedhomeSpeedhome\u201cInnovation to home rental sector is severely overdue\u2014it\u2019s manual, tedious process, and prone to disputes,\u201d says creator Whei Meng. \u201cWe thought that technology could automate, simplify, and set new standards for the industry. And we achieved that. \u201dDespite the virus lockdowns, the startup has grown this year\u2014427% from April to August, although absolute figures are not provided. \u201cThe pandemic has shown that our zero deposit offering resonates with the needs of the tenants, while the landlords accepts insurance protection as a way forward [beyond the] traditional deposit,\u201d he adds. StixfreshStixfresh\u201cWe started out with extensive backgrounds and exposure in agriculture,\u201d founder Zhafri Zainudin tells us. \u201cFruits, together with vegetables, account for almost one-third of all global food waste. That was one big reason why we decided to tackle fruits first. \u201dThe startup is busy with a mix of R&D and early commercialization of its invention. Now the team is \u201cdiscussing with several parties, locally and internationally, to explore the Thailand, Indonesian, and Japanese markets,\u201d Zainudin says. It also has several pilots in progress with regional clients. In a test conducted with what Zainudin describes as \u201cone of the largest retailers in the world\u201d (the name is top secret for now), the stickers gave the fruits longevity that resulted in \u201c15 to 30% higher sale-ability\u201d compared to a control group of identical fruits over the course of seven days. To get to the final, Stixfresh had to leap over four hurdles, the first three of which were open to voting from the general public. Zainudin says the first online voting stage, when 64 teams were whittled down to 32, was the hardest for his startup. \u201cCreating buy-in from the public is among the toughest thing to achieve, even for such a revolutionary solution as ours. To be able to garner support and acceptance from a huge audience is a big achievement for us. \u201dThese are the prizes:The four winning startups get the following prizes and benfits:SuperSeed II Championship grand final judges:"}, {"url": "https://technode.global/2020/09/02/superseed-ii-championship-eight/", "page": 76, "title": "SuperSeed II Championship down to just 8 startups ahead of grand finale", "contents": "In partnership withAfter starting in July with 64 entrants, the SuperSeed II Championship is now down to just eight hand-picked teams. This \u201cElite Eight\u201d next head into a live pitch session held in conjunction with The eight teams are:Meet the judges:SuperSeed II Championship is run by Gobi Partners in collaboration with MDEC. If you\u2019d like to watch the highly competitive grand finale webinar, you can register "}, {"url": "https://technode.global/2020/08/27/used-car-startup-carsome-new-business-model/", "page": 76, "title": "Used car startup Carsome tries something new", "contents": "Used car startup Carsome\u2014which operates across Indonesia, Malaysia, Singapore, and Thailand\u2014is trying something new in a bid to stand out from rival apps: it has just opened the doors to its first shop. Called an \u201cExperience Center,\u201d Carsome co-founder and CEO Eric Cheng tells New business modelIt\u2019s not just the physical location that\u2019s new\u2014this is the first time Carsome is selling cars directly to the general public. Prior to this, it has been purchasing cars from users in its app, inspecting the vehicles, and then helping folks sell them to auto dealerships. Cheng explains that its new Experience Center isn\u2019t competing with dealerships since the cars it sells there are ones owned and listed by the dealers themselves. This first Kuala Lumpur location doesn\u2019t look like a car dealership. This is from the street:Inside, it looks more like a bank than a place where you\u2019d buy a car. Punters can browse the listed pre-owned vehicles on iPads, book a test drive, and actually purchase a car on-site:Buyers can choose to get the car delivered to their home or pick it up from the same Experience Center:Carsome facts & stats:Trust factorWhy make this change now? Cheng tells us that after five years of developing a rapport with dealers and building its own car inspection centers, the startup had \u201cnow built the infrastructure needed to deliver a significantly different retail experience for used cars. \u201dHe adds: \u201cWe feel that the time is now ripe to take a step further in addressing the pain points in the used car marketplace\u2014the lack of trust in buying used cars. \u201dAs countries tentatively emerge from lockdowns and with people fearing a second wave of virus cases, Cheng believes the used car market will soar. \u201cWhere there is increased demand for personal vehicles to maintain physical distancing and limit exposure to the Covid-19 virus, and affordability being the primary consideration, we see great potential in the used car market as buyers will be dealing with lesser depreciation, more favorable hire purchase loans, and lower insurance rates, among other factors,\u201d he explains."}, {"url": "https://technode.global/2020/08/26/malaysia-startups-seed-funding-superseedii-championship-chosen-16/", "page": 76, "title": "SuperSeed II Championship heats up as only 16 teams remain", "contents": "In partnership with\nSixteen Malaysian startups were chosen on Tuesday to go through to the next phase of the SuperSeed II Championship, a competition held for local early-stage startups by Gobi Partners in collaboration with MDEC. After starting in July with 64 entrants, a public vote brought the count down by half. And then the 32 remaining startups had to submit a video pitch, which was evaluated by SuperSeed II\u2019s judging panel consisting of investment professionals from Gobi\u2019s partners: MAVCAP, MDEC, MaGIC, Sunway Group, as well as a Gobi team member. So here\u2019s the SuperSeed II Championship sweet 16:Next, the sweet 16 will have a 30-minute Zoom call with the Championship committee which will constitute as due diligence on their business operations, operational and financial metrics, as well as their mission and vision. Eight startups\u2014the \u201cElite Eight\u201d\u2014will then be selected for the final stage, a live pitch session held in conjunction with "}, {"url": "https://technode.global/2020/08/04/grab-personal-loans-wealth-management-products/", "page": 76, "title": "Grab wants to lend you money and help you invest", "contents": "Grab took a big step forward today in its financial services ambitions by rolling out its first ever personal lending and investment products. Today\u2019s launch for GrabInvest brings three new offerings to Grab\u2019s ride-hailing app:Here\u2019s when and where the three things will be available:See: Hotly-anticipated launchGrabInvest\u2019s rollout follows other finance-related products that Grab has launched over the years, starting with its wallet for online payments, and more recently adding insurance offerings. Grab also announced today that its first hospitalization insurance plan will launch in Indonesia \u201cin the coming months. \u201d\nToday\u2019s GrabInvest rollout has been hotly anticipated since February, when Grab acquired a Singaporean fintech startup named Bento. That startup\u2019s founder, Chandrima Das, now has the title head of wealth at Grab Financial Group. \u201cAs we build out our wealth management offerings [\u2026] we aim to better provide millions across SEA with the opportunity to invest in financial products traditionally limited to affluent individuals and institutional investors,\u201d Das said today. GrabInvest\u2019s debut moves Grab ahead of Gojek in the personal financial services aspect of their long-running rivalry. Gojek has so far only rolled out one such product in Indonesia, called Goinvestasi, "}, {"url": "https://technode.global/2020/07/27/robo-advisor-app-stashaway-more-funding/", "page": 76, "title": "Robo-advisor app StashAway gets funding for expansion", "contents": "Robo-advisor app StashAway, which is open to accredited investors and ordinary punters like you and me in Malaysia and Singapore, has attracted $16 million in series C funding, it announced today. Some of the cash will go to \u201csupport new market entry,\u201d said the firm in a statement today, but without identifying any country. StashAway co-founder and CEO Michele Ferrario is the former CEO of online fashion marketplace Zalora:StashAway facts & stats:While stock markets have wobbled during the pandemic and many people have suffered job losses, StashAway investor Tushar Roy today New rivalsIt\u2019s still early days for digital wealth management startups in Southeast Asia, but there are already a handful of rivals in the niche, such as The space is about to get more heated as Southeast Asia\u2019s Grab and Gojek expand their digital wallets to include wealth management options. See: "}, {"url": "https://technode.global/2020/07/21/iqiyi-southeast-asia-ramping-up/", "page": 76, "title": "China\u2019s iQiyi ramps up Southeast Asia expansion", "contents": "After its very quiet rollout in Malaysia midway through 2019, followed by Indonesia a little while later, some might have forgotten that Chinese streamer iQiyi has ambitions to take on Netflix head-to-head across Southeast Asia. Today iQiyi made clear that its regional expansion is still in motion, announcing the appointments of three country managers that will help it grow across five Southeast Asian markets. They are (left to right in photo, below):Busy battleiQiyi, which generates revenue from a mix of advertising and subscriptions, faces big streaming rivals in Southeast Asia such as Netflix, iFlix, WeTV, Viu, HBO Go, and Viki. Still in the very early stages of its expansion, iQiyi has a lot of catching up to do. Another challenge for services that rely on advertising is that brands are spending less on ads right now in a bid to preserve cash amid the Covid chaos \u2013 indeed, the Both Ratnam and Dela Cruz have been stolen away from Southeast Asia\u2019s homegrown streamer iFlix, which was last month Even before buying out iFlix, Chinese rival Tencent has been slowly building up its own presence in Thailand, Indonesia, and Malaysia with its WeTV service. In a statement, iQiyi said the three exec hires will help the service \u201cenhance its integration with local markets and ramp up the localization of its services for Southeast Asia audiences. \u201diQiyi facts & stats:See: "}, {"url": "https://technode.global/2020/06/15/malaysia-fintech-curlec-funding/", "page": 77, "title": "Curlec gets funding to help businesses get paid on time", "contents": "Amid a rising tide of The undisclosed pre-series A round involved only that one investor, a Curlec representative tells Expanding within MalaysiaThe cash will go toward expanding the service, which allows businesses of all sizes to set up automated payments so they get paid on time by clients, across its native Malaysia. It replaces inefficient paperwork, signatures, and bank bureaucracy by building software on top of the Direct Debit payment infrastructure. \u201cWe are looking into having our ASEAN expansion tentatively later this year or early 2021,\u201d the Curlec rep adds. Despite the virus lockdowns, co-founder, CEO, and ex-banker Zac Liew says Curlec is still growing, with its subscribers\u2014from small business to large-scale enterprises that include Axiata\u2014having wired over US$50 million through the service since its launch in early 2018. Indeed, the "}, {"url": "https://technode.global/2020/05/15/malaysia-seed-funding-superseedii-championship/", "page": 77, "title": "\u2018The show must go on\u2019: Gobi launches online championship for Malaysia startups", "contents": "Southeast Asia venture capital firm Gobi Partners is trying something new and somewhat unusual to ensure it can still discover fresh startups across Malaysia to invest in during the pandemic lockdowns. This week it rolled out an online championship that, not dissimilar to NBA playoffs, has a bracket system to whittle down 64 selected early-stage startups into eight finalists. Those finalists in its brand-new Gobi\u2019s managing director for Malaysia, Jamaludin Bujang, said in a statement that the VC firm must \u201ckeep investing as the world goes through these kinds of cycles. In order for the ecosystem to survive, the show must go on. \u201dSee: This championship is on the lookout for fledgling businesses in:Registration deadline is June 15 at 11pm Malaysia time. The first stage after that is online voting, followed by video voting, online pitching, and, lastly, in-person pitching for just the finalists."}, {"url": "https://technode.global/2020/03/24/staffless-stores-struggle-southeast-asia/", "page": 77, "title": "4 years on, cashierless stores are full of empty promises", "contents": "The hype around cashierless stores But, four years on, the promise that cashierless stores\u2014where people pay for their groceries on their phones, with no checkout lanes or cash registers in sight\u2014would shake up the global retail industry has failed to materialize. Chinese tech company BingoBox first caused a stir with its robo-stores, vowing to roll out 5,000 by the end of 2017. But that didn\u2019t happen. Instead, the startup has encountered many obstacles and grown much more slowly, and today has 500 franchised outlets across mainland China, Taiwan, South Korea, and Malaysia. The wave of copycats startups didn\u2019t last long, with a Reality checkThis reality check is apt for Southeast Asia, where convenience stores are not just a huge industry (there were Unmanned stores have another big problem in rivaling convenience stores in Southeast Asia \u2013 they\u2019re out of line with consumers\u2019 changing habits. People across the region are increasingly demanding ready-to-eat food from their neighborhood convenience stores, according to a report last year Minimart momentumUndeterred by the challenges seen in this over-hyped sector, homegrown Southeast Asian startups are still eyeing the staffless store business. Thus far, Malaysia seems to be keenest on the tech-heavy stores, with a few run by BingoBox, But for the moment, these businesses\u2014such as Singapore\u2019s Octobox and Pick&Go\u2014are small, mainly at the experimental stage of rolling out a few stores in their home nation. While it\u2019s still early days, renewed interest in cashierless stores might pick up: businesses and investors are starting to think more about \u201csocial distancing\u201d in the aftermath of the Covid\u201319 pandemic. However, even after the virus causes industries to reassess how they operate, the sheer amount of technology\u2014like face-recognition and RFID chips on every single product\u2014needed for an autonomous store will continue to prove burdensome. For example, when Indonesian online marketplace Blibli earlier this year opened up what it touted as an Amazon Go-esque store in Jakarta, it still had cashiers and shop assistants to help customers with the self-checkout and cashless payment systems. Why did its supposedly hi-tech store need so many staffers? \u201cBecause there is currently no applicable technology solution [to prevent theft] in Indonesia,\u201d Blibli executive Fransisca Krisantia Nugraha Keep it simpleAs staffless stores grow slowly, the reality is that tech will change the way people shop not in one herculean leap, but in small ways, step by step \u2013 like coffee startups such as China\u2019s Luckin, Indonesia\u2019s Fore Coffee, and Kopi Kenangan. The stores require caffeine-cravers to order and pay in an app, and then either go to the store to pick it up or get the coffee delivered. That level of automation frees up the baristas\u2014yes, these are definitely not staffless stores\u2014to focus on making the coffee, rather than deal with the slow and laborious process of taking orders. Fore Coffee and Kopi Kenangan have collectively raised US$68 million from major investors including East Ventures. Another model for the retail sector is to pare back the tech even further and simply to provide a service to an overlooked group of people. That\u2019s what Warung Pintar\u2014Indonesian for \u201csmart kiosk\u201d\u2014is doing with mom-and-pop store owners. It has raised a total of US$35 million from big-name VCs including Vertex Ventures as it rolls out kiosks, run by the kind of micro-businesspeople who have traditionally run street-side stalls. Rather than reinventing the wheel in the manner of unmanned store startups, Warung Pintar\u2019s little yellow shops look like any other kiosk across Indonesia, except that owners have access to some simple tech tools like a web-connected cash register with the option of taking cashless payments, bookkeeping software, and stock-ordering software. All of this is a timely reminder that tech often promises a revolution, but evolution tends to work much better. Edited by John Artman"}, {"url": "https://technode.global/2019/08/01/sea-tech-startups-cannot-simply-copy-chinese-models/", "page": 77, "title": "SEA tech startups cannot simply copy Chinese models", "contents": "Sitting in a trendy open-plan office in downtown Kuala Lumpur, Anson Wang oversees around 100 employees as CEO and co-founder of Jobstore, a Malaysian AI-powered recruitment platform. Coming from a rare breed of first-generation Chinese immigrant entrepreneurs into the country, it has been a long journey for Wang to get to where he is now. Born in Hangzhou in eastern China\u2019s Zhejiang province, 39-year-old Wang struck gold when he sold off his ad agency back in his home country. Filled with aspirations of an exotic new market ripe for the picking, he uprooted to Malaysia. His experience in China\u2019s internet industry held him in good stead and his expertise allowed him to make wiser decisions. However, it didn\u2019t translate into instant results in a country geographically close but infinitely different. Years on and Wang\u2019s thick-accented mandarin is indistinguishable from that of Chinese Malaysians. He bears all the hallmarks of someone who has become immersed deep into a foreign culture. This mindset is key to achieving success in a culture as diversified and a market as fragmented as South East Asia. In many ways, Wang, now a serial entrepreneur in Malaysia with Jobstore his third project, represents a case in point for Chinese businessmen and companies sitting at the crossroads between China and SEA. Push and pullThe past three decades have witnessed changing dynamics between China and SEA in terms of economic forces. China\u2019s exponential growth has allowed it to eclipse the neighboring region. \u201cWhen our relatives went to China in the 1980s, they\u2019d always come back and say China is like twenty years behind Malaysia,\u201d recalled Honwai Sim, COO of Malaysian IoT firm MDT Innovations and a third-generation Chinese Malaysian whose ancestors moved to SEA in the 1920s. The government\u2019s early efforts to boost high-tech industries helped the country to become one of the world\u2019s largest producers of electric appliances for a period in the 1990s. \u201cBut now China is way ahead of Malaysia,\u201d he said. In recent years, Malaysia and the broader Southeast Asian market are again becoming a focal point, and Chinese investors are circling for new opportunities. The region\u2019s GDP will grow at an average ofNearly all of China\u2019s big tech players from heavyweights like Alibaba and Tencent, to vertical unicorns such as SenseTime, are setting up shop in the region. Chinese venture capital firms are also doubling their bets in the region. Total venture funds across SEA hitThe influx of Chinese companies into the region boils down to push-and-pull factors. A slowing domestic e-economy, saturated local market, aging population, rising workforce costs in China are a powerful set of push factors. These are only exacerbated by China\u2019s recent turbulent relations with the US. For SEA, the younger population and rising GDP per capita are the key pull factors. Rising internet penetration, in particular, has brought the attention of Chinese internet firms. The region\u2019s internet users are outpacing those in China in their embracing of the mobile economy. AIn addition to the huge potential, the market is also attractive to Chinese entrepreneurs and VCs because they believe the region is similar to China a few years ago. They expect easier market entry by leveraging experiences learned from China. For them, the country represents a key point of reference for SEA expansion. Caution in copying ChinaWhile Chinese voices tend to stress the similarities behind the two ecosystems, the differences between China and SEA are equally huge, if not bigger. Using the term SEA unconsciously refers to the region as a whole, neglecting its huge diversity covering 11 countries. The region\u2019s population of more than 655 million speak different languages, practice different religions and live under the administration of different governments. \u201cEven though we look at trends in China, it doesn\u2019t mean things can be 100% replicated here,\u201d Jamaludin Bujang, managing director for Gobi Venture\u2019s Malaysian operations, told TechNode in aAndy Sitt, the co-founder of Inmagine Group, parent of Malaysian stock image site 123RF. com, breaks down the differences by countries. \u201cSingapore is an aging developed country. Malaysia and Thailand are aging and mid-developed, while Laos and Myanmar are young and upcoming,\u201d he said. Some key markets like Indonesia and Vietnam get a lot of attention and it can often be forgotten that the other countries differ greatly in culture, consumer purchasing power and stages of development stages, he added. \u201cHaving 11 countries working together is almost impossible, you can\u2019t have a standardized e-wallet nor the same data-sharing platform among different countries,\u201d Sitt maintained. MDT Innovations\u2019 Sim echoed Sitt\u2019s pointed out the industry differences in a separate interview. Singapore, with its focus on fintech, is quite advanced because it\u2019s one city and easy to manage, he said, adding that Malaysia is a very small market centered on high-tech, IT, biotech. Compared with the rest of SEA, Indonesia and Thailand are bigger markets while Cambodia and Vietnam are quite far behind. The tech ecosystem in SEA is also developing at a slower pace compared with that of China. \u201cWhen coming to a smaller market, you really have to adjust expectations as well, you have to adjust to slower growth,\u201d Bujang said. Jobstore\u2019s Wang has first-hand experience in adjusting to slower growth. His company grew from two people to a 100-strong team in less than three years. This is already a quick growth trajectory for a Malaysian startup, but nothing compared with Chinese companies, he admitted. Local workers maintain a more laid-back lifestyle and value a work-life balance, Wang said. While it\u2019s common for Chinese tech employees to work onTo cope with this, Wang clarifies with new-hires that his company doesn\u2019t require overtime, but needs their 100% attention during working hours. \u201cAlso, we don\u2019t hire people that smoke to avoid distractions during working hours,\u201d he added. Sitt expects the influx of Chinese firms in the region to press local players to catch up. Although Chinese venture capitalists are increasingly taking notice of the region, SEA does not have the funds that Chinese companies have, Sitt said. His firm has grown without securing external funding. \u201cMalaysia hasn\u2019t been attracting lots of investors,\u201d Sim said. \u201cWe talk about a Series A in Malaysia as probably about 1 million ringgit ($250,000). Series A in the US is $5 million and Series A size in China s not too far from the US standard at $3 million to 5 million,\u201d he detailed. SEA as a \u2018launchpad\u2019More and more Chinese companies are aggressively looking for global expansion in the eyes of SEA entrepreneurs. \u201cGrowth in China is slowing down, they are looking at an alternative for what they can do especially in SEA and hopefully to build a greater Asia,\u201d Sitt said. For Sim, Chinese firms are very open to business opportunities in far-flung markets. The overall region is of strategic importance for expansive Chinese companies, thanks to cheap labor and the diversity of people and culture. SEA startups have their own criteria for finding Chinese partners. Malaysian AI and IoT company G3 Global inked a deal with SenseTime to set up an AI park earlier this year. \u201cSome companies are here only to find a reseller or partner to distribute their products. We choose to work with SenseTime because the deal is more about having an experience of using AI in real application scenarios by which we can build an ecosystem and educate the market together,\u201d G3 Global Executive Director Mohammad Radzi told TechNode. \u201cChina might be scary for lots of companies, but for us China is friendly,\u201d said Sim. He maintains that Alibaba isn\u2019t in the region to take away opportunities but to find new ones. \u201cThey may have acquired Lazada in e-commerce, but they are also open new opportunities to other e-commerce enablers,\u201d he explained. Editor\u2019s note: This post was originally published on "}, {"url": "https://technode.global/2019/06/28/origin-startup-opportunities-abound-in-southeast-asia-2/", "page": 77, "title": "ORIGIN | Startup opportunities abound in Southeast Asia", "contents": "Signs indicate that Southeast Asia is becoming a hotbed for growth among startups and opportunities are plentiful in the region, Kenneth Tan, Vice-president of Gobi Partners, told a packed house at TechNode\u2019s\u201cA lot of startups in Southeast Asia are growing positively and this is very encouraging because it shows that the whole ecosystem is progressing,\u201d he said during a panel discussion moderated by Navin Danapal, the SEA Director of accelerator venture capital SOSV. As Southeast Asia\u2019s digital economy is forecasted to triple in size to reach RMB 1.2 trillion ($240 billion) by 2025, according to\u201cFirstly, there is a need to understand the reason why companies in China will consider SEA,\u201d said Tan, adding that the situation is very much like that of China many years ago. With a young population, increasing GDP per capita and rising internet penetration rate, this region is very attractive, said Tan. However, for Chinese companies that are planning to expand their operations down south, Tan emphasized the importance of localization and a change of mentality towards running a business in this region. \u201cSEA has ten countries, each with different policies and regulations and are at different market stages,\u201d said Tan. He stresses that due to these differences, it is vital for foreign companies to pay ample attention to understanding the local market that they intend to expand into \u2013 i. e user behaviour and income levels across different markets. Tan also shared that companies must understand that strategies that have worked back home may not work in SEA. \u201cAt the end of the day, it is all about how much effort and energy you put into listening and understanding the consumer\u2019s problem statement,\u201d said Sai Kit Ng, Chief Executive of multi-stage technology and venture capital firm Captii Ventures. Emphasising the importance of understanding the needs of the market, Ng advises companies to always analyse the problem statement and be prepared to redesign their product to suit the customers. \u201cFocus on the customers who are willing to pay you, this will provide you with a lot more opportunities to improve,\u201d said Ng. However, Ng also encourages businesses to look beyond the ASEAN market at times because through his observations, he realised that businesses from the region do produce solutions that attract a significant amount of consumers in other countries such as the US. Ultimately, Ng encourages founders to strive to improve and to benchmark themselves against industry giants. \u201cThe speed of growth of the markets, the capital investment in this region, the pace of business and the number of startups are all growing tremendously,\u201d said Tan. However, Ng also shared an ironic observation with our audience that local startups find it easier to sell their product to a foreign market than to their own. Hence, Ng urges firms to give more opportunities to local players for them to prove themselves. Ng shares that trends are often set in China and the US. Currently, he says, artificial intelligence is on top. \u201cI think what is next will depend on who is able to come in and identify the key problems in the different markets and solve them,\u201d he said. \u201cThe short answer is the industries that the unicorns are in,\u201d said Tan. He elaborates that given the rigour needed to start a business, for them to be able to reach the unicorn or even decacorn stage, it would signal good business operations, strong potential, market opportunities in the region and ultimately exit opportunity for investors to make money."}, {"url": "https://technode.global/2019/06/28/origin-the-rise-of-halal-tourism/", "page": 77, "title": "ORIGIN | The Rise of Halal Tourism", "contents": "In a recent survey conducted by Singapore-based halal travel platform Have Halal Will Travel (HHWT), China emerged as the third most popular holiday destination for Muslim traveler around the world, behind Japan and Korea. But not all Chinese cities are ready to accommodate the needs of Muslim travelers, said executives at two Muslim-focused travel platforms at a recent TechNode event. Travel expectations are rising among young Muslims, said Faeez Fadhlillah, CEO of Malaysia-based Muslim travel platform Tripfez, and HHWT co-founder Mikhail Melvin Goh. As the number of young, educated and mobile Muslims\u2014and their income\u2014grows, they have become the fastest-growing segment in the global travel industry. On stage atRising incomes and access to information about travel on social media have created a lucrative halal tourism market. Goh said that the vibrant budget airlines industry has also spurred the growth of halal travel. The mindset has shifted, said Fadhlillah: from \u201cwhat is available to me?\u201d to \u201cwhat I want must be fulfilled. \u201d. Brands are taking notice of the increase in Muslim travelers and making efforts to better serve them. Fadhlillah said that tourists expect the comforts of home even when traveling, giving the example of Muslim travelers in Korea eating local food secure that it\u2019s halal-certified. Muslim travelers are also increasingly searching for a sense of meaning when traveling, Faeez said. \u201cThere is a rise in solo Muslim travelers and all-girls trips, and this could mean that they feel safer traveling now,\u201d added Goh. \u201cCommunication is key. Hotels, dining places, and tourist hotspots should work on improving its communication more efficiently to eliminate the fear and knowledge gap Muslim travelers might have about the destination,\u201d said GohStakeholders are anchoring different positions within the value chain in the regular travel industry, said Goh. \u201cDown to the infrastructure level, we see many problems with the supply side where there is no fixed position and it requires players to anchor these positions before the value chain can be more efficient,\u201d he added. The Muslim travel industry is fragmented across cultures, said Fadhlillah. One major challenge, he said, is that there\u2019s no single halal standard or definition\u2014one is free to experiment and play around. Malaysians, Faeez said, are generally very strict with their definition of halal, and are often surprised to learn that there are other definitions outside of Malaysia. A halal-certified restaurant in Korea could serve alcohol as long as it doesn\u2019t offer pork, he said. Goh said that as much as brands are excited to serve this group of Muslim travelers, it starts to get confusing for them as there are many different halal standards, creating operational difficulties."}, {"url": "https://technode.global/2019/06/27/origin-malaysia-must-act-to-avoid-falling-behind-in-ai/", "page": 77, "title": "ORIGIN | Malaysia must act to avoid falling behind in AI", "contents": "Malaysia is lagging behind regional peers in AI adoption, said Mohammad Radzi, executive director of G3 Global, during aChinese AI company SenseTime is ramping up efforts to expand overseas presence with its latest deal to help build Malaysia\u2019s\u201cAI is burgeoning in Malaysia so we choose a partner who not only can grow local companies but at the same time spur AI innovation within Malaysia\u201d said Radzi. This partnership aims to bring together and build an AI ecosystem in Malaysia. The AI park also plans to be an export centre, where Malaysian AI solutions can be exported to other countries,saidRadzi. \u201cThe AI park will be an area where visitors, not just industry professionals, can visit to experience AI solutions first hand,\u201d said Radzi, describing a park where autonomous vehicles operate on the road and visitors can check into a condominium equipped with smart home system. This partnership also plans to help build the country\u2019s AI capability through an education curriculum, he said, noting that SenseTime has designed and developed an AI syllabus that is currently taught in schools across China. Malaysia is trailing behind neighbouring countries in Southeast Asia on AI adoption. One contributing factor could be an AI knowledge gap among Malaysian enterprises, Radzi said. \u201cMore could be done to educate enterprises on the potential of AI, such as improving productivity and increasing revenue generation,\u201d said Radzi. China is huge, and when a proof-of-concept (POC) trial takes place, it is typically carried out on a large scale. \u201cIn contrast, kicking off a POC trial in Malaysia requires levels of authority clearance, and POC trial areas are just a fraction of what it\u2019s like in China,\u201d said Radzi. AI works best if given large amounts of data sets, coupled with fast, iterative processing and intelligent algorithms. \u201cChina is able to advance its AI technologies at such a rapid pace due to the enormous amount of data collected through POC trials,\u201d said Radzi. China\u2019s AI agenda advances as China throws state support behind AI development. According to the"}, {"url": "https://technode.global/2019/06/26/origin-mobile-payment-solutions-are-taking-off-in-southeast-asia-2/", "page": 77, "title": "ORIGIN | Mobile payment solutions are taking off in Southeast Asia", "contents": "TechNode gathered four industry experts at its\u201cEvery country has at least 30 to 40 e-wallets. Competition is definitely going to be high in Southeast Asia because of the low barriers of entry,\u201d said Jeremy Wong, head of partnership at e-commerce company Fave. Aiza Azreen Ahmad, director of strategic partnership at lifestyle e-wallet company Boost, said, \u201cFor Malaysians today, I\u2019m sure your phones would easily have three e-wallets. \u201dHowever, Ahmad said that adoption rates of cashless payment among both merchants and consumers are worryingly low. Given the competition and adoption rate in SEA, digital payment solutions are still a work in progress. Mobile payments in the region are only just starting to take off despite the growing number of players, said Patrick Ngan, CEO & co-founder of mobile payment technology service QFPay. The region is barely scratching the surface of the regional market, he added. Ngan said that the key to surviving in the region is to establish strong partnerships with the existing dominant players. \u201cMobile payment eventually should not be restricted to Southeast Asia. Instead, companies should all aim to transcend their own borders to truly succeed. Mobile solutions should be borderless,\u201d said Ngan. While it seems that QR code payment may be the future, Wong cautioned that it is not necessarily suitable for all countries in the region. Regulations have not kept up with the adoption of e-wallets in the region due to their relatively recent emergence, Wong said. \u201cThe regulations around e-wallets need to be loosened for them to see greater adoption among merchants and consumers,\u201d said Ahmad. Ngan also emphasized the importance of securing government approvals as they play a major role in pushing the initiative and facilitating adoption. Ngan called on local players to look to the Chinese market for knowledge and insights without aiming to directly replicate their models. Although the technology behind mobile payment and e-wallets may be the same, he said, differences between the SEA and Chinese cultures and markets mean that companies cannot simply transplant their strategies. Rather, there is a need to localize the system to meet market demands. Ahmad lauded the bravery of Chinese players, citing Alipay\u2019s recent investment in Touch and Go as an example of the risks that China companies are willing to take. China\u2019s digital payment operators represent industry titans\u2014and their looming presence in Southeast Asia casts a shadow over local firms. However, although our speakers recognized their presence as a threat, they did not overstate the potential competition from international players. \u201cCompetition can help us to educate the users, and we welcome that,\u201d said Ahmad. \u201cWhen Boost first started, we were struggling but with greater competition, our company began growing. \u201d Likewise, Ngan said that focusing on this aspect would generate unnecessary worries. \u201cI often tell my team to forget about the competition and do what you do best. Focus on what you are asked to do and focus on developing the product. If you do a very good job in both, people will naturally use your product because it is well developed,\u201d said Ngan. Wong encouraged SEA digital payment companies to take heart, saying that the war is not lost just because Chinese companies are pouring investments into the region. Rather, he said, the key in the region is to understand the wants and needs of local users and merchants."}, {"url": "https://technode.global/2019/06/26/origin-short-videos-and-grassroot-influencers-are-riding-the-new-marketing-tide-2/", "page": 77, "title": "ORIGIN | Short videos and grassroot influencers are riding the new marketing tide", "contents": "Authenticity is the key to success on short video platforms, Kuaishou\u2019s Maggie Long told the audience at TechNode\u2019s\u201cShort video is a growing phenomenon in China and it is slowly spreading across the world. It is definitely not just a new wave of marketing for those in China, but it is applicable for all,\u201d said Maggie Long, director of Global Public Relations & Communications of short video platform Kuaishou Technology. Kuaishou passedLong spoke at a fireside chat on short videos, grassroots influencers, and their impact on businesses with Daryl Chung, projector director of tech media outlet e27. Long said that the growth of short video is driven by the development of China\u2019s technology infrastructure, which allows easy access to strong 4G or wifi networks; the simplicity of short video applications; and the format\u2019s openness to everyone from the countryside to China\u2019s biggest cities. \u201cEveryone\u2019s lives can be seen and will be seen by everyone in the world. It creates a nation-wide community,\u201d said Long. Long said that short video platforms are an undiscovered mine for businesses. Short video platforms, she said, are equipped to help businesses in identifying their target audience quickly. This would benefit marketers as it would help them to craft their campaign to have a greater and more effective reach, added Chung. Long added that short video platforms are a good way to reach consumers for both the business-to-business or business-to-consumer sectors. \u201cThe key to capturing user\u2019s attention would be the authenticity of the video and the uniqueness of the content,\u201d said Long. She advises businesses not to do advertisements directly ion a short video feature, suggesting that they first create educational content to accumulate a strong, stable fanbase before marketing their product. \u201cThe conversion rate tends to be higher,\u201d said Long. Long said that her platform\u2019s stars are ordinary people\u2014the sort of people many in first and second-tier cities see as losers. \u201cThey used to be commoners,\u201d said Long. Geng Shuai, who\u2019s known for short videos of unique and interesting inventions, has gained the attention of 3 million people and earns more than RMB 10,000 (about $1,450) a month solely through live streaming, Long told TechNode. Long also said that short videos help Chinese people find safe food: people follow and reach out to content creators who film the rearing process of their animals to buy meat. Long advises would-be short video stars to stick to a common theme. This allows the platform\u2019s algorithms to better promote and distribute the content to relevant viewers. If streamers change the theme of their content every day, Long said, it confuses the algorithm, causing it to be unable to effectively promote the videos. Long said that users of short-video platforms are looking for videos that are truly authentic. \u201cVideos that are not so professionally produced tend to fare better, as they have an element that makes them more relatable to viewers,\u201d said Long. Long emphasised that interaction with the followers is crucial\u2014it helps users develop a sense of trust in the content creator. This is crucial for business owners hoping to market products. \u201cOnce trust is established, people will be more likely to buy the product from you,\u201d said Long. Wrapping up, Chung said that this new form of marketing requires businesses to take on a new mindset. It is important for business owners and startups to realise that it is about making an impact and scaling their business along the way. Making money and new interesting products, he said, should not be the business\u2019s only focus."}, {"url": "https://technode.global/2019/06/11/origin-malaysia-payment-solutions-sea-investment-landscape-grassroot-influencers/", "page": 77, "title": "ORIGIN Malaysia | Payment Solutions, SEA Investment Landscape, Grassroot Influencers", "contents": "China is leading the world in mobile payment solutions, with FinTech innovations like WeChat Pay and Alipay. This is a testament to how Chinse mobile payment tech is a few years ahead of Southeast Asia. In some ways, the success of payment solutions in China highlights facets of the Chinese market which would be difficult to replicate elsewhere. Having said that, Southeast Asia\u2019s digital payment solution is on a growth trajectory with more players entering this field. This resulted in a highly fragmented payment sector and could be frustrating for consumers. Hear fromAtIn addition, grassroot influencers and short video marketing, an emerging marketing trend widely employed by marketers and brands. As we have witnessed how rapid the Chinese social media landscape changes, what are the trends that will make an impact in 2019/2020? Hear from Kuaishou Technology, who has 200 million daily active users as we unravel the new marketing tide. Last but not least, how should Southeast Asia think of China, and how do the Chinese think of this region? Gain insights into China with TechNode\u2019s CEO, Dr. Lu Gang as he delivers his keynote speech on an overview of the China tech ecosystem. Fret not. We are giving out free passes to TechNode\u2019s community! Gain access to ORIGIN Malaysia Conference and other Malaysia Tech Week\u2019s partner events happening from 19For more information, visitDirector of Strategic Partnership,Aiza is currently the Director of Strategic Development, Boost eWallet and a bona fide technophile who believes pivoting Malaysia on digital and innovation can only be achieved through collaborations and partnerships. Her recent success was in creating a cashless ecosystem in the sectors of education, government agencies, SMEs and Smart Cities that made Boost the country\u2019s preferred eWallet. Her other achievements included the launch of a lifestyle app, TouchStyle, the first in the ultra-conservative Islamic banking industry, leading medium to large scale transformation of the largest integrated media group and also, in banks. Aiza has worked in multiple industries which included Islamic Banking, a multi-business conglomerate, integrated media, M&A and management consulting, across two countries, Malaysia and Australia, where she called home for many years. She is currently a candidate for MSc/Ph. D. on the research topic \u201cTechnologizing the Supply Chain of Affordable Homes: A Comparative Analysis Between Malaysia And Indonesia\u201d collaborating with the World Bank National Affordable Housing Program (\u201cNAHP\u201d), providing technical advisory support on issues relating to the development of alternative innovative affordable housing that meets the Sustainable Development Goals. Aiza graduated from Macquarie University with Merits in Economics. In her free time, Aiza does pro bono work with mentoring start-ups and participating in causes in support of women empowerment initiatives. CEO & Co-founder,Patrick is connecting the world through mobile payment, one country at a time, with QFPay International \u2013 a leading mobile payment technology, solution, and service provider backed by premier investors including Sequoia Capital and Matrix Partner; QFPay International has a presence across 13 markets in Asia and the Middle East. With 18 years of experience in cross-border strategy & business development, corporate finance, and capital markets solutions, Patrick is the CEO & Co-Founder of QFPay International Limited. Prior to QFPay, Patrick held senior management positions at global investment banks and international retail conglomerate groups in China, Hong Kong, and the UK; he has also served as Chief Financial Officer and Executive Director of a Hong Kong Main Board-listed company. Co-Founder,Prior to that, he was the Regional Operations Director for Groupon Asia Pacific, Product Manager for JobStreet. com and Management Consultant for Accenture. He is an Eisenhower Fellow and an alumnus of Cornell University. He is also an angel investor, who has invested in numerous early-stage startups in the region. CEO,Kenneth Ho is the founder & CEO of BEAM PTE LTD, a cross-border business search engine focused on matching people to valuable connections and opportunities. A graduate from Monash University who previously exited two businesses (an education and machine learning business), Kenneth has a deep passion for technology, entrepreneurship, and investments. Vice President,Chief Executive,Sai Kit is the Chief Executive of Captii Ventures, a venture capital company that he helped set up in late 2014. Captii Ventures is now a multistage investor in technology companies in Southeast Asia with portfolio companies in Malaysia, Singapore, Indonesia, Philippines, and Vietnam. Besides heading venture investment activities, Sai Kit has also been involved in M&A, investments and corporate restructuring activities, as well as leading a digital and mobile advertising business within the Captii Group. He has also held audit, financial advisory and corporate finance roles in PwC, CIMB and other corporations across various industries including manufacturing, property development, financial advisory, food services, utility services, and investment banking. He is a Chartered Accountant of the Malaysian Institute of Accountants and Fellow Member of the Association of Chartered Certified Accountants, UK. SEA Director, MOX,Prior to SOSV, Navin was a senior manager of Microsoft ecosystems in the ASEAN region. Prior to that, he was Editor of Singapore Press Holdings tech media and held a senior role in IDG. Navin has also founded a startup during the 1997 Asian economic crisis, organized a VR hackathon in Beijing with the Chinese government and Coke, and advised a number of Asian aerospace hackathons. Director of Global PR & Communications,Maggie Long is a Senior Researcher at the E-commerce Center of the Kuaishou Research Institute and Director of Global PR & Communications at Kuaishou Technology. On a mission to alleviate poverty and inspire entrepreneurship, the Kuaishou Research Institute investigates how Kuaishou Technology can build and foster e-commerce ecosystems for individuals and small e-commerce businesses operating in China, especially in rural regions. Prior to joining Kuaishou Technology, Maggie got her start in the technology industry as a journalist at Caixin Media and previously worked at Cobo and Cheetah Mobile. Project Director,He is passionate about empowering startups to build and grow their businesses, spearheading strategic partnerships and ecosystem building initiatives with various investor/corporate/government stakeholders across APAC\u2019s tech ecosystem. CEO & Founder,Dr. Lu Gang is the founder and CEO of TechNode, making him one of China\u2019s most recognized influencers in the global technology sector. What started as Dr. Lu\u2019s personal blog quickly became a highly respected international innovation platform, with six business units including TN Media (Chinese and English technology media platform), TN Inno (corporate innovation services), TN Global (Asia and global business), TN Events (branding and event services), TN Data (startup ecosystem data analysis) and TN VC (venture capital and financing services). Through these initiatives, TechNode connects China\u2019s start-up technology ecosystem with the rest of the world. Today, TechNode is the exclusive China partner of TechCrunch. Dr. Lu earned his Ph. D. in Wireless Communications from the University of Sheffield, UK. Dr. Lu was honored with the \u20181000 Talents Plan\u2019 of Shanghai in 2017 and received the Entrepreneurial Award of the British Council\u2019s Study UK Alumni Awards in 2017-18. *Malaysia Tech Week is a city-wide festival of events by the industry to bring together the best of Malaysia Corporates, Ecosystem Partners, Investors, Regulators, and Tech startups along with delegations from all around the world to the tech hub of Southeast Asia- Kuala Lumpur, Malaysia."}, {"url": "https://technode.global/2019/05/28/origin-malaysia-halal-tourism-malaysia-e-commerce-future-of-ai/", "page": 78, "title": "ORIGIN Malaysia | Halal Tourism, Malaysia e-Commerce, Future of AI", "contents": "Malaysia poised to be the gateway to ASEAN and beyond. Malaysia has witnessed regional growth sprouting up \u2013 making it a Regional Digital Hub to penetrate the Middle East & India market. Speaking of business links between the Middle East and Malaysia, one can never ignore the halal industry which is booming globally. Halal tourism is one of the fastest growing facets of the global travel industry and is projected to grow into a US$220 billion industry by 2020. What are the trends, opportunities, and challenges in this industry? Is this new tourism trend here to stay? Hear from founders ofAtArtificial Intelligence, one of the top global emerging trends and also a new frontier of Malaysia is full of untapped potential. How would a Sino-Malaysia AI collaboration help Malaysia in spurring its digital innovations? Hear from G3 Global who has recently inked a collaborative partnership on their sentiments about how AI can accelerate innovations. We will be previewing other topics in the upcoming weeks so stay tuned. Don\u2019t have a ticket yet? Fret not. We are giving out free passes to TechNode\u2019s community! Gain access to ORIGIN Malaysia Conference and other Malaysia Tech Week\u2019s partner events happening from 19For more information, visitAbout the Panellists:Panelists:CEO,Faeez Fadhlillah is the CEO and Co-founder of Tripfez & Salam Standard, an innovative, state of the art travel portal dedicated to the rise of global Muslim travelers. Named as one of Forty Individuals Who Shaped Southeast Asian E-Commerce By EcommerceIQ,Faeez is also an avid speaker at many international travel conferences and seminars and previously chairs the R&D committee of the Malaysian Association of Tour & Travel Agents (MATTA). Faeez was elected as Vice President of MATTA, Malaysia\u2019s largest travel association for the term 2015 -2017 and currently serves as the Deputy Honorary Secretary-General for the term 2017-2019 as well as the executive board of the Pacific Asia Travel Association (PATA). Co-founder,Mikhail Melvin Goh is the founder of Have Halal, Will Travel (HHWT), a media & technology company offering resources and tools to help Muslim travellers plan their perfect trip. Upon discovering Islam, Mikhail experienced the lack of services for the average Muslim traveller. The Singaporean native was motivated to provide a solution, so he teamed up with his wife and friend and founded HHWT. Today, HHWT content reaches over 8.6 million Muslims a month and they are redefining the Muslim travel market. GM,Aaliyah\u2019s previous eCommerce experience includes being part of the inaugural startup team for Lazada Malaysia in 2012 and championing through some challenging times within the Marketplace giant\u2019s roadmap to success until 2017. Her roles throughout the 5 years in Lazada have shifted from content, SEO, EDM, Social Media, SEO, marketing, PR, branding and offline outreach. Prior to joining Commerce. Asia, she was Director of Marketing for MyBazar \u2013 an online marketplace, heading a project in partnership with Malaysia Digital Economy Corporation (MDEC) called \u2018BLEE\u2019 which aimed to support and enable micro and small merchants going online. The project managed to acquire more than 500 micro and small merchants nationwide to sell online in the span of 4 months. Aaliyah\u2019s main passion lies in content marketing, public relations, organizing events and helping SMEs digitalize their businessCo-founder,Sharmeen brought ShopBack to Malaysia in early 2015. As the co-founder of ShopBack Malaysia, Sharmeen is responsible for the development of ShopBack\u2019s collaborations with public and private sectors, at the same time facilitates marketing efforts that strengthen ShopBack\u2019s business presence. For three consecutive years, Sharmeen is an advisory member ofMYCYBERSALE\u2019s marketing group, formulating strategies for Malaysia\u2019s largest online sale under PIKOM. She has also led ShopBack in working with ministries like Tourism Malaysia on several promotional programmes, as well as established collaborations with credible partners from bank and telco-industries. Director of Sales,Mr. Kenneth Kuan, is currently the Director of Sales for Kiple, a wholly-owned subsidiary of Green Packet Berhad. Currently, he spearheads the sales division of kipleBiz and kiplePay, driving the businesses to achieve the Company\u2019s goals and annual targets by developing sales strategies and putting them into action plans. Kuan has more than 15 years of experience in the telecommunications, oil and gas and financial technology sector, specializing in SME and Corporate Account Management. He started his career with British Petroleum in the oil and gas sector. Following that, he joined Shell before spreading his foray to Maxis and Celcom as the Head of SME Channel Management. Before joining Green Packet, Kuan was with iPay88 as Head of Sales, leading the team to achieve the overall sales and profitability goals of the organization. Managing Partner,Baiza is a graduate of Monash University, Australia with a degree in Business Studies double majoring in Accounting and Economics. He has 18 years\u2019 experience in various fields within the Islamic Finance industry. He started his career as a research associate with Islamic Financial Data Services Ltd. (U. K) specializing in Islamic finance and banking data research before joining IslamiQ Ltd. where he was instrumental in developing the ScreenIslamiQ, the online service that allowed users to access information on Shariah-compliant stocks in the major global stock markets. He was also involved in the IslamiQ advisory team that completed the Shariah structuring of a US$150 million Islamic private equity fund focusing on dynamic and undervalued Asian companies. After leaving IslamiQ, he moved to Guidance Financial Group LLC, an international Islamic financial services company based in Washington D. C. where he was part of the investment team that structured a Musharakah Mutanaqisah based Islamic home financing program for consumers in the U. S market, an innovative mortgage based Islamic Fixed Income security with Freddie Mac and a Pan European Islamic Real Estate fund with ING International amongst others. During his employment with Guidance, he was also seconded to Navis Capital Partners a leading private equity fund management firm to assist in the day to day running of their Islamic private equity funds with an aggregate value of USD 300 million. At the Amanie Group, he served as Managing Director of Amanie Advisors, its global Shariah advisory arm and also as Director of Global Business with Amanie Holdings reporting directly to the Chairman. His last posting prior to founding Ficus Venture Partners was with the Maybank Group where he started as VP & Regional Head of Business Development for Maybank Asset Management Group and was promoted to be the CEO of Maybank Private Equity where he was tasked to manage a global private equity investment portfolio on behalf of the bank. Adrian Oh, co-founder of ecInsider. my (formerly known as eCommerceMILO. com), a content site that focuses on e-commerce content, providing insights, know-how, and inspiration with the goal of driving the e-commerce industry forward. He also co-founded Neowave Solutions, a technology company that focuses on building e-commerce platform (webShaper) to empower merchants to build own branded store and sell multi-channel via connecting to the region\u2019s top eMarketplaces like Lazada, Shopee, Qoo10, Tokopedia, Bukalapak, etc. In 2019, He founded a new multichannel data platform \u2013 Zetpy. com, with the goal of enabling merchants to sell across the region\u2019s Top Marketplaces and utilize the data to scale up their operation and business. On top of that, he is passionate about building community. He founded MECA (Malaysia E-commerce Aspiration) \u2013 an active Facebook community by the eCommerce players, for the eCommerce players, currently with 5000 over members. A computer science graduate and with deep passion in e-commerce, retail & online payments, He occasionally blogs at adrianoh. com. Executive Director,Encik Radzi was appointed as Executive Director on 22 October 2018. He obtained a Degree in Bachelor of Science in Computer Science and Mathematics from the University of Nebraska-Lincoln, USA. Armed with management, business development and marketing experience in Information, Telecommunication, and Technology, Radzi started work in 1986 at Sapura Holdings. During his stint in Sapura Holdings, he secured Government\u2019s Smart School project with consortium partners in implementing Smart School solutions nationwide and set up ADAM 017 mobile telecommunications operator (which was bought over by Maxis) where it was a sole distributor for Nokia mobile phones. In 2005, he joined Green Packet as a Head of Special Projects and later, joined Packet One Networks as a Head of Regulatory. Before joining G3 Global, Radzi was with Theta Technologies for 3 years as a Head of Sales and Relationships, leading the team to explore new markets and product offerings. Founder,William Yap is the Founder of Artificial Intelligence Malaysia. He has over a decade of experience in Data Science and Analytics at various industry leaders. William has led high-impact Artificial Intelligence projects with other leading international Data Scientists and has helped drive Malaysia\u2019s National Big Data Analytics initiatives. He has also guided entrepreneurs, startups and established corporations on Digitalisation and Data Innovations. *Malaysia Tech Week is a city-wide festival of events by the industry to bring together the best of Malaysia corporates, ecosystem partners, investors, regulators, and tech startups along with delegations from all around the world to the tech hub of Southeast Asia- Kuala Lumpur, Malaysia."}, {"url": "https://technode.global/2019/05/07/startup-interview-atilze/", "page": 78, "title": "Startup Interview: Atilze", "contents": "Tell us more about yourselfI started off my career as an R&D engineer. Today, I am with Atilze Digital Sdn Bhd, a high technology Internet of Things (IoT) venture of G3 Global Berhad, leading the product development and sales team for the IoT solution called Atilze Sensor Hub. Atilze Sensor Hub supports tailoring to any specific requirements that serve as the building blocks to a Smart City, e. g. , Smart Environment, Smart Agriculture, Smart Aquaculture, Smart Disaster Management, etc. What is your idea of a smart city?The topic of Smart City is very wide; we can\u2019t kill all birds with one stone. In fact, there are many aspects that serve as the building blocks to build a Smart City. For example, Smart City comes with Smart Environmental, Smart Parking, Smart Retail, Smart Transport and etc. Particularly in Malaysia, as part of the Smart City initiatives, Atilze has been involved in 2 main projects. The first is to monitor the air quality in Cyberjaya using LoRaWAN. It was a collaboration between Atilze and Cyberview to monitor the haze index, ensuring that the Cyberjaya community has access to clean air. On the second project, Atilze worked together with Intel & Penang state government and Majlis Perbandaran Seberang Perai (MPSP) to monitor flood levels and air quality. This prevented any flood disaster from happening over the past two years. With IoT solutions, residents can be alerted beforehand, preventing any deadly incident. What was one of your most memorable learning experience?Never Give Up and Keep Trying. These are words that I would always tell my team members. Allow me to share my recent experience where my team members nearly gave up on one of the projects that we have been working on for nearly a year. Despite all our efforts into it, we could not see any significant outcome, which made all very disappointed. However, perseverance is what it takes! As a strong believer to keep trying and pursuing, I believe that at the end of the day, the effort will reach fruition. Our hardwork paid off when we managed to successfully clinch a collaboration with a local partner and deploy Atilze Sensor Hubs and LoRa Gateways in one of the plantations in Cameron Highlands, Malaysia. \u201cBusiness will not come in just a day!\u201d. You never know what going to happen tomorrow. What do you think should be the most important characteristic for a startup and its team to possess?To have good communication. Communication remains important regardless of a good day or a bad day. Congratulations on winning Asia Hardware Battle 2018 Malaysia. What was the experience like competing against companies in Malaysia and companies from different part of ASEAN?Thanks! It was a great experience! It became so much more memorable when we won this competition as a team. My team members were Azman and Azwan. The award was totally unexpected! During the battle in Shanghai, the teams from different countries were all so strong and they presented so well. I was impressed with the interaction some teams had with the judges. They even brought their product to the judges for them to experience it. What are some learning points/advice that you would like to share with those who are considering joining international competitions?Be natural, and don\u2019t over prepare. Everything will be smooth. What is your company\u2019s five-year plan? Any market expansion plan in the pipeline?I must say that we have a great plan ahead! Through our parent company, G3 Global, we offer AI algorithms, products and solutions for Government, enterprises and end-consumers. In addition, we will continue to supply end-to-end IoT connected devices, IoT networks and cloud-based data-driven applications and services, expanding our core business pillars which are in Artificial Intelligence, Smart Mobility and Smart IoT solutions. Looking back, what advice would you tell your younger self?To allocate some time to learn new things. Come on! Life is not just about work, work and work. I wish to learn some musical instruments which I didn\u2019t manage to do it now especially becoming a father of one."}, {"url": "https://technode.global/2019/05/07/technode-kicks-off-its-2nd-edition-of-origin-conference-in-malaysia/", "page": 78, "title": "TechNode kicks off its 2nd edition of ORIGIN Conference in Malaysia", "contents": "Chinese tech companies are on an Asian roll. After a successful run last year at SWITCH 2018, TechNode is bringing ORIGIN back again! This year, ORIGIN will be expanding beyond the shores of Singapore to help more people around Southeast Asia (SEA) region to understand why and how to get involved in this new stage of China-ASEAN development. By uniting critical players from the Chinese and Southeast Asian tech community at this conference, ORIGIN provides the best opportunity to gain valuable global connections and interaction through its industry conference. On 21With invigorating panels and intensive fireside chats, ORIGIN will further accentuate the ASEAN-China synergy through uncovering insight on China\u2019s latest trends and developments in its vibrant tech industry and the SEA\u2019s rapid growth landscape. TechNode ultimately aims to encourage cross-sharing and mutual understanding that will be benefitting for everyone. Don\u2019t have a ticket yet? Fret not. For more information, visitPartial Speakers Line-upSai Kit is the Chief Executive of Captii Ventures, a venture capital company that he helped set up in late 2014. Captii Ventures is now a multistage investor in technology companies in Southeast Asia with portfolio companies in Malaysia, Singapore, Indonesia, Philippines and Vietnam. Besides heading venture investment activities, Sai Kit has also been involved in M&A, investments and corporate restructuring activities, as well as leading a digital and mobile advertising business within the Captii Group. He has also held audit, financial advisory and corporate finance roles in PwC, CIMB and other corporations across various industries including manufacturing, property development, financial advisory, food services, utility services, and investment banking. He is a Chartered Accountant of the Malaysian Institute of Accountants and Fellow Member of the Association of Chartered Certified Accountants, UK. Kenneth started as an Investment Analyst at Gobi\u2019s headquarters in Shanghai. After two years, he was promoted to Associate and relocated to Gobi\u2019s Kuala Lumpur office, where he assisted on investments into companies such as Carsome, Crowdo, Favful, Glints, and Travelio. Sharmeen brought ShopBack to Malaysia in early 2015. As the co-founder of ShopBack Malaysia, Sharmeen is responsible for the development of ShopBack\u2019s collaborations with public and private sectors, at the same time facilitates marketing efforts that strengthen ShopBack\u2019s business presence. For three consecutive years, Sharmeen is an advisory member ofMYCYBERSALE\u2019s marketing group, formulating strategies for Malaysia\u2019s largest online sale under PIKOM. She has also led ShopBack in working with ministries like Tourism Malaysia on several promotional programmes, as well as established collaborations with credible partners from bank and telcoindustries. Chen Chow is currently the Co-founder of Fave, Southeast Asia\u2019s leading online-to-offline (O2O) e-commerce market leader. Before starting Fave, Chen Chow led regional operations for Groupon Asia Pacific, moving up the ranks since joining as COO for Groupon Malaysia and Taiwan in 2012. Prior to Groupon, Chen Chow was a product manager at JobStreet. com and a management consultant at Accenture. Chen Chow is a graduate of the prestigious Cornell University and an Eisenhower Fellow. Outside of work, he is passionate about youth empowerment, with involvement in various non-profit organizations such as The Worldwide Malaysian Students Network, Young Corporate Malaysians, and more. *Malaysia Tech Week is a city-wide festival of events by the industry to bring together the best of Malaysia Corporates, Ecosystem Partners, Investors, Regulators, and Tech Start-ups along with delegations from all around the world to the tech hub of Southeast Asia- Kuala Lumpur, Malaysia."}]